Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Mar. 31, 2023 | May 03, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000310354 | |
Entity Registrant Name | STANDEX INTERNATIONAL CORP/DE/ | |
Amendment Flag | false | |
Current Fiscal Year End Date | --06-30 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-07233 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 31-0596149 | |
Entity Address, Address Line One | 23 Keewaydin drive | |
Entity Address, City or Town | Salem | |
Entity Address, State or Province | NH | |
Entity Address, Postal Zip Code | 03079 | |
City Area Code | 603 | |
Local Phone Number | 893-9701 | |
Title of 12(b) Security | Common Stock, Par Value $1.50 Per Share | |
Trading Symbol | SXI | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 11,902,676 |
Unaudited Condensed Consolidate
Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2023 | Jun. 30, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 175,284 | $ 104,844 |
Accounts receivable, less allowance for credit losses of $2,537 and $2,214 at March 31, 2023 and June 30, 2022, respectively | 121,161 | 117,075 |
Inventories | 104,516 | 105,339 |
Prepaid expenses and other current assets | 56,611 | 45,210 |
Income taxes receivable | 3,203 | 6,530 |
Total current assets | 460,775 | 378,998 |
Property, plant, and equipment, net | 130,638 | 128,584 |
Intangible assets, net | 79,562 | 85,770 |
Goodwill | 269,463 | 267,906 |
Deferred tax asset | 9,213 | 8,186 |
Operating lease right-of-use asset | 36,069 | 39,119 |
Other non-current assets | 29,368 | 25,876 |
Total non-current assets | 554,313 | 555,441 |
Total assets | 1,015,088 | 934,439 |
Current liabilities: | ||
Accounts payable | 67,512 | 74,520 |
Accrued liabilities | 55,704 | 67,773 |
Income taxes payable | 7,371 | 8,475 |
Total current liabilities | 130,587 | 150,768 |
Long-term debt | 173,333 | 174,830 |
Operating lease long-term liabilities | 28,463 | 31,357 |
Accrued pension and other non-current liabilities | 77,155 | 78,141 |
Total non-current liabilities | 278,951 | 284,328 |
Contingencies (Note 15) | ||
Stockholders' equity: | ||
Common stock, par value $1.50 per share, 60,000,000 shares authorized, 27,984,278 shares issued, 11,791,341 and 11,824,128 shares outstanding at March 31, 2023 and June 30, 2022 | 41,976 | 41,976 |
Additional paid-in capital | 97,294 | 91,200 |
Retained earnings | 1,010,395 | 901,421 |
Accumulated other comprehensive loss | (147,175) | (153,312) |
Treasury shares: 16,192,937 and 16,160,150 shares at March 31, 2023 and June 30, 2022 | (396,940) | (381,942) |
Total stockholders' equity | 605,550 | 499,343 |
Total liabilities and stockholders' equity | $ 1,015,088 | $ 934,439 |
Unaudited Condensed Consolida_2
Unaudited Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2023 | Jun. 30, 2022 |
Reserve for doubtful accounts | $ 2,537 | $ 2,214 |
Common stock, par value (in dollars per share) | $ 1.50 | $ 1.50 |
Common stock, shares authorized (in shares) | 60,000,000 | 60,000,000 |
Common stock, shares issued (in shares) | 27,984,278 | 27,984,278 |
Common stock, shares outstanding (in shares) | 11,791,341 | 11,824,128 |
Treasury stock, shares (in shares) | 16,192,937 | 16,160,150 |
Unaudited Condensed Consolida_3
Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Net sales | $ 184,332 | $ 189,281 | $ 552,721 | $ 550,600 |
Cost of sales | 113,435 | 120,900 | 341,251 | 347,210 |
Gross profit | 70,897 | 68,381 | 211,470 | 203,390 |
Selling, general, and administrative expenses | 42,954 | 42,306 | 127,756 | 128,589 |
Gain on sale of business | (62,105) | 0 | (62,105) | 0 |
Restructuring costs | 2,237 | 1,186 | 3,330 | 2,469 |
Acquisition related costs | 21 | 419 | 487 | 1,561 |
Other operating (income) expense, net | (727) | 0 | (611) | 1,700 |
Total operating expenses | (17,620) | 43,911 | 68,857 | 134,319 |
Income from operations | 88,517 | 24,470 | 142,613 | 69,071 |
Interest expense | 1,415 | 1,238 | 4,168 | 4,484 |
Other non-operating (income) expense, net | 747 | 340 | 1,695 | 651 |
Income from continuing operations before income taxes | 86,355 | 22,892 | 136,750 | 63,936 |
Provision for income taxes | 5,788 | 5,484 | 17,783 | 15,677 |
Income from continuing operations | 80,567 | 17,408 | 118,967 | 48,259 |
Income (loss) from discontinued operations, net of tax | (57) | (86) | (144) | (135) |
Net income (loss) | $ 80,510 | $ 17,322 | $ 118,823 | $ 48,124 |
Basic earnings (loss) per share: | ||||
Continuing operations (in dollars per share) | $ 6.82 | $ 1.45 | $ 10.06 | $ 4.02 |
Discontinued operations (in dollars per share) | 0 | (0.01) | (0.01) | (0.01) |
Total (in dollars per share) | 6.82 | 1.44 | 10.05 | 4.01 |
Diluted earnings (loss) per share: | ||||
Continuing operations (in dollars per share) | 6.77 | 1.44 | 9.98 | 3.98 |
Discontinued operations (in dollars per share) | 0 | (0.10) | (0.01) | (0.01) |
Total (in dollars per share) | $ 6.77 | $ 1.34 | $ 9.97 | $ 3.97 |
Weighted average number of shares: | ||||
Basic (in shares) | 11,811 | 11,982 | 11,825 | 12,009 |
Diluted (in shares) | 11,895 | 12,089 | 11,917 | 12,121 |
Unaudited Condensed Consolida_4
Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Net income | $ 80,510 | $ 17,322 | $ 118,823 | $ 48,124 |
Other comprehensive income (loss): | ||||
Actuarial gains (losses) and other changes in unrecognized costs, net of tax | (601) | 88 | (587) | 189 |
Amortization of unrecognized costs, net of tax | 712 | 1,103 | 2,132 | 3,320 |
Derivative instruments: | ||||
Change in unrealized gains (losses), net of tax | (406) | 4,340 | 2,220 | 5,949 |
Foreign currency translation gains (losses), net of tax | 1,480 | (8,018) | 3,584 | (17,343) |
Other comprehensive income (loss), net of tax | 51 | (1,860) | 6,137 | (5,730) |
Comprehensive income | 80,561 | 15,462 | 124,960 | 42,394 |
Interest Expense [Member] | ||||
Derivative instruments: | ||||
Amortization of unrealized gains (losses) into interest expense, net of tax | $ (1,134) | $ 627 | $ (1,212) | $ 2,155 |
Unaudited Condensed Consolida_5
Unaudited Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock, Common [Member] | Total |
Balance at Jun. 30, 2021 | $ 41,976 | $ 80,788 | $ 852,489 | $ (116,140) | $ (352,688) | $ 506,425 |
Balance (in shares) at Jun. 30, 2021 | 15,940 | |||||
Stock issued under incentive compensation plans and employee purchase plans | 0 | (804) | 0 | 0 | $ 2,122 | 1,318 |
Stock issued under incentive compensation plans and employee purchase plans (in shares) | (94) | |||||
Stock-based compensation | 0 | 8,213 | 0 | 0 | $ 0 | 8,213 |
Treasury stock acquired | 0 | 0 | 0 | 0 | $ (21,420) | (21,420) |
Treasury stock acquired (in shares) | 209 | |||||
Balance at Dec. 31, 2021 | 41,976 | 84,560 | 877,158 | (120,010) | $ (360,234) | 523,450 |
Balance (in shares) at Dec. 31, 2021 | 15,948 | |||||
Balance at Jun. 30, 2021 | 41,976 | 80,788 | 852,489 | (116,140) | $ (352,688) | 506,425 |
Balance (in shares) at Jun. 30, 2021 | 15,940 | |||||
Net income (loss) | 0 | 0 | 48,124 | 0 | $ 0 | 48,124 |
Foreign currency translation adjustment | 0 | 0 | 0 | (17,343) | 0 | (17,343) |
Pension, net of tax | 0 | 0 | 0 | 3,509 | 0 | 3,509 |
Change in fair value of derivatives, net of tax | 0 | 0 | 0 | 8,104 | 0 | 8,104 |
Dividends declared | 0 | 0 | (9,310) | 0 | 0 | (9,310) |
Balance at Mar. 31, 2022 | 41,976 | 88,197 | 891,303 | (121,870) | $ (371,986) | 527,620 |
Balance (in shares) at Mar. 31, 2022 | 16,055 | |||||
Balance at Dec. 31, 2021 | 41,976 | 84,560 | 877,158 | (120,010) | $ (360,234) | 523,450 |
Balance (in shares) at Dec. 31, 2021 | 15,948 | |||||
Stock issued under incentive compensation plans and employee purchase plans | 0 | 49 | 0 | 0 | $ 122 | 171 |
Stock issued under incentive compensation plans and employee purchase plans (in shares) | (5) | |||||
Stock-based compensation | 0 | 3,588 | 0 | 0 | $ 0 | 3,588 |
Treasury stock acquired | 0 | 0 | 0 | 0 | $ (11,874) | (11,874) |
Treasury stock acquired (in shares) | 112 | |||||
Net income (loss) | 0 | 0 | 17,322 | 0 | $ 0 | 17,322 |
Foreign currency translation adjustment | 0 | 0 | 0 | (8,018) | 0 | (8,018) |
Pension, net of tax | 0 | 0 | 0 | 1,191 | 0 | 1,191 |
Change in fair value of derivatives, net of tax | 0 | 0 | 0 | 4,967 | 0 | 4,967 |
Dividends declared | 0 | 0 | (3,177) | 0 | 0 | (3,177) |
Balance at Mar. 31, 2022 | 41,976 | 88,197 | 891,303 | (121,870) | $ (371,986) | 527,620 |
Balance (in shares) at Mar. 31, 2022 | 16,055 | |||||
Balance at Jun. 30, 2022 | 41,976 | 91,200 | 901,421 | (153,312) | $ (381,942) | 499,343 |
Balance (in shares) at Jun. 30, 2022 | 16,160 | |||||
Stock issued under incentive compensation plans and employee purchase plans | 0 | (2,414) | 0 | 0 | $ 3,584 | 1,170 |
Stock issued under incentive compensation plans and employee purchase plans (in shares) | (150) | |||||
Stock-based compensation | 0 | 8,508 | 0 | 0 | $ 0 | 8,508 |
Treasury stock acquired | 0 | 0 | 0 | 0 | $ (18,582) | (18,582) |
Treasury stock acquired (in shares) | 183 | |||||
Balance at Dec. 31, 2022 | 41,976 | 93,359 | 933,233 | (147,226) | $ (391,925) | 529,417 |
Balance (in shares) at Dec. 31, 2022 | 16,153 | |||||
Balance at Jun. 30, 2022 | 41,976 | 91,200 | 901,421 | (153,312) | $ (381,942) | 499,343 |
Balance (in shares) at Jun. 30, 2022 | 16,160 | |||||
Net income (loss) | 0 | 0 | 118,823 | 0 | $ 0 | 118,823 |
Foreign currency translation adjustment | 0 | 0 | 0 | 3,584 | 0 | 3,584 |
Pension, net of tax | 0 | 0 | 0 | 1,545 | 0 | 1,545 |
Change in fair value of derivatives, net of tax | 0 | 0 | 0 | 1,008 | 0 | 1,008 |
Dividends declared | 0 | 0 | (9,849) | 0 | 0 | (9,849) |
Balance at Mar. 31, 2023 | 41,976 | 97,294 | 1,010,395 | (147,175) | $ (396,940) | 605,550 |
Balance (in shares) at Mar. 31, 2023 | 16,193 | |||||
Balance at Dec. 31, 2022 | 41,976 | 93,359 | 933,233 | (147,226) | $ (391,925) | 529,417 |
Balance (in shares) at Dec. 31, 2022 | 16,153 | |||||
Stock issued under incentive compensation plans and employee purchase plans | 0 | 126 | 0 | 0 | $ 50 | 176 |
Stock issued under incentive compensation plans and employee purchase plans (in shares) | (2) | |||||
Stock-based compensation | 0 | 3,809 | 0 | 0 | $ 0 | 3,809 |
Treasury stock acquired | 0 | 0 | 0 | 0 | $ (5,065) | (5,065) |
Treasury stock acquired (in shares) | 42 | |||||
Net income (loss) | 0 | 0 | 80,510 | 0 | $ 0 | 80,510 |
Foreign currency translation adjustment | 0 | 0 | 0 | 1,480 | 0 | 1,480 |
Pension, net of tax | 0 | 0 | 0 | 111 | 0 | 111 |
Change in fair value of derivatives, net of tax | 0 | 0 | 0 | (1,540) | 0 | (1,540) |
Dividends declared | 0 | 0 | (3,348) | 0 | 0 | (3,348) |
Balance at Mar. 31, 2023 | $ 41,976 | $ 97,294 | $ 1,010,395 | $ (147,175) | $ (396,940) | $ 605,550 |
Balance (in shares) at Mar. 31, 2023 | 16,193 |
Unaudited Condensed Consolida_6
Unaudited Condensed Consolidated Statements of Stockholders' Equity (Parentheticals) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Pension and OPEB adjustments, tax | $ 0.1 | $ 0.4 | $ 0.6 | $ 1.1 |
Change in fair value of derivatives, tax | $ 0.5 | $ 1.6 | $ 0.3 | $ 2.4 |
Dividends declared, per share (in dollars per share) | $ 0.28 | $ 0.26 | $ 0.82 | $ 0.76 |
Unaudited Condensed Consolida_7
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Cash flows from operating activities | ||
Net income (loss) | $ 118,823 | $ 48,124 |
Income (loss) from discontinued operations | (144) | (135) |
Income from continuing operations | 118,967 | 48,259 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 21,275 | 22,411 |
Stock-based compensation | 8,508 | 8,213 |
Non-cash portion of restructuring charge | 129 | 595 |
Gain on sale of business | (62,105) | 0 |
Contributions to defined benefit plans | (151) | (157) |
Changes in operating assets and liabilities, net | (36,268) | (30,693) |
Net cash provided by (used in) operating activities - continuing operations | 50,355 | 48,628 |
Net cash provided by (used in) operating activities - discontinued operations | (37) | (375) |
Net cash provided by (used in) operating activities | 50,318 | 48,253 |
Cash flows from investing activities | ||
Expenditures for property, plant, and equipment | (16,648) | (13,138) |
Proceeds from sale of business | 67,023 | 0 |
Expenditures for acquisitions, net of cash acquired | 0 | (9,902) |
Other investing activity | (1,321) | 5,718 |
Net cash provided by (used in) investing activities | 49,054 | (17,322) |
Cash flows from financing activities | ||
Proceeds from borrowings | 224,500 | 0 |
Payments of debt | (226,200) | 0 |
Contingent consideration payment | (1,167) | (1,167) |
Activity under share-based payment plans | 1,170 | 1,318 |
Purchases of treasury stock | (18,582) | (21,420) |
Cash dividends paid | (9,699) | (9,148) |
Net cash provided by (used in) financing activities | (29,978) | (30,417) |
Effect of exchange rate changes on cash and cash equivalents | 1,046 | (2,979) |
Net change in cash and cash equivalents | 70,440 | (2,465) |
Cash and cash equivalents at beginning of year | 104,844 | 136,367 |
Cash and cash equivalents at end of period | 175,284 | 133,902 |
Supplemental Disclosure of Cash Flow Information: | ||
Interest | 3,186 | 3,791 |
Income taxes, net of refunds | $ 22,064 | $ 14,797 |
Note 1 - Management Statement
Note 1 - Management Statement | 9 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 1 In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to present fairly the results of operations for the three nine March 31, 2023 2022 nine March 31, 2023 2022 March 31, 2023 not not not June 30, 2022 June 30, 2022 not 10 June 30, 2022 June 30. 2023 twelve July 1, 2022 June 30, 2023. The estimates and assumptions used in the preparation of the consolidated financial statements have considered the implications on the Company as a result of the COVID- 19 19 not March 31, 2023 10 The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. The Company evaluated subsequent events through the date and time its unaudited condensed consolidated financial statements were issued. Recently Issued Accounting Pronouncements In November 2021, 2021 10, 832 1 2 2021 10 December 15, 2021 2021 10 2023. not |
Note 2 - Acquisitions
Note 2 - Acquisitions | 9 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 2 At the time of the acquisition and March 31, 2023 Sensor Solutions During the third 2022, one The Company paid $9.9 million in cash for all the issued and outstanding equity interests of Sensor Solutions. The purchase price was allocated to the net tangible and identifiable intangible assets acquired and liabilities assumed based on a valuation of their fair values on the closing date. Goodwill recorded from this transaction is attributable to Sensor Solutions' technical and applications expertise in sectors such as electric vehicles, industrial automation and medical end markets, which is highly complementary to the Company's existing business. Identifiable intangible assets of $2.8 million consist primarily of $0.8 million for indefinite lived tradenames, and $2.0 million of customer relationships to be amortized over 10 years. The goodwill of $5.8 million created by the transaction is deductible for income tax purposes. The accounting for business combinations requires estimates and judgments regarding expectations for future cash flows of the acquired business, and the allocations of those cash flows to identifiable tangible and intangible assets, in determining the assets acquired and liabilities assumed. The fair values assigned to tangible and intangible assets acquired and liabilities assumed are based on management's best estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. The components of the fair value of the Sensor Solutions acquisition, including the final allocation of the purchase price are as follows (in thousands): Final Allocation Fair value of business combination: Cash payments $ 10,016 Less cash acquired (114 ) Total $ 9,902 Final Allocation Identifiable assets acquired and liabilities assumed: Other acquired assets $ 488 Inventories 529 Property, plant, & equipment 420 Identifiable intangible assets 2,780 Goodwill 5,840 Liabilities assumed (155 ) Total $ 9,902 Other Acquisitions During the fourth 2022 , Acquisition Related Costs Acquisition related costs include costs related to acquired businesses and other pending acquisitions. These costs consist of (i) deferred compensation arrangements and (ii) acquisition related professional service fees and expenses, including financial advisory, legal, accounting, and other outside services incurred in connection with acquisition activities, and regulatory matters related to acquired entities. These costs do not Acquisition related costs for the three March 31, 2023 2022 nine March 31, 2023 2022 |
Note 3 - Revenue From Contracts
Note 3 - Revenue From Contracts With Customers | 9 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 3 Most of the Company’s contracts have a single performance obligation which represents the product or service being sold to the customer. Some contracts include multiple performance obligations such as a product and the related installation and/or extended warranty. Additionally, most of the Company’s contracts offer assurance type warranties in connection with the sale of a product to customers. Assurance type warranties provide a customer with assurance that the product complies with agreed-upon specifications. Assurance type warranties do not In general, the Company recognizes revenue at the point in time control transfers to its customer based on predetermined shipping terms. Revenue is recognized over time under certain long-term contracts within the Engineering Technologies and Engraving groups for highly customized customer products that have no Disaggregation of Revenue from Contracts with Customers The following table presents revenue disaggregated by product line and segment (in thousands): Three Months Ended Revenue by Product Line March 31, 2023 March 31, 2022 Electronics $ 78,211 $ 79,889 Engraving Services 35,454 34,399 Engraving Products 1,455 2,824 Total Engraving 36,909 37,223 Scientific 18,898 18,914 Engineering Technologies 18,052 20,890 Hydraulics Cylinders and Systems 13,548 15,306 Merchandising & Display 13,203 8,438 Pumps 5,511 8,621 Total Specialty Solutions 32,262 32,365 Total revenue by product line $ 184,332 $ 189,281 Nine Months Ended Revenue by Product Line March 31, 2023 March 31, 2022 Electronics $ 225,966 $ 232,351 Engraving Services 105,259 101,637 Engraving Products 4,363 7,400 Total Engraving 109,622 109,037 Scientific 56,646 65,079 Engineering Technologies 59,244 56,558 Hydraulics Cylinders and Systems 47,823 39,207 Merchandising & Display 32,160 23,548 Pumps 21,260 24,820 Total Specialty Solutions 101,243 87,575 Total revenue by product line $ 552,721 $ 550,600 The following table presents revenue from continuing operations disaggregated by geography based on company’s locations (in thousands): Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended Net sales March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 United States $ 112,002 $ 110,076 $ 338,464 $ 314,657 Asia Pacific 29,204 37,441 95,858 116,842 EMEA (1) 38,953 37,963 106,279 108,841 Other Americas 4,173 3,801 12,120 10,260 Total $ 184,332 $ 189,281 $ 552,721 $ 550,600 ( 1 The following table presents revenue from continuing operations disaggregated by timing of recognition (in thousands): Three Months Ended Timing of Revenue Recognition March 31, 2023 March 31, 2022 Products and services transferred at a point in time $ 169,669 $ 170,949 Products transferred over time 14,663 18,332 Net sales $ 184,332 $ 189,281 Nine Months Ended Timing of Revenue Recognition March 31, 2023 March 31, 2022 Products and services transferred at a point in time $ 501,090 $ 510,988 Products transferred over time 51,631 39,612 Net sales $ 552,721 $ 550,600 Contract Balances Contract assets represent sales recognized in excess of billings related to work completed but not not The timing of revenue recognition, invoicing and cash collections results in billed receivables, contract assets and contract liabilities on the consolidated balance sheets. When consideration is received from a customer prior to transferring goods or services to the customer under the terms of a contract, a contract liability is recorded. Contract liabilities are recognized as revenue after control of the goods and services are transferred to the customer and all revenue recognition criteria have been met. The following table provides information about contract assets and liability balances (in thousands): Balance at Beginning of Period Additions Deductions Balance at End of Period Nine months ended March 31, 2023 Contract assets: Prepaid expenses and other current assets $ 24,679 $ 49,682 $ 43,820 $ 30,541 Contract liabilities: Customer deposits 41 13,015 12,750 306 Balance at Beginning of Period Additions Deductions Balance at End of Period Nine months ended March 31, 2022 Contract assets: Prepaid expenses and other current assets $ 15,013 $ 35,091 $ 25,711 $ 24,393 Contract liabilities: Customer deposits 471 10,293 10,721 43 We recognized the following revenue which was included in the contract liability beginning balances (in thousands): March 31, 2023 Revenue recognized in the period from: Three months ended Nine months ended Amounts included in the contract liability balance at the beginning of the period $ 38 $ 41 March 31, 2022 Revenue recognized in the period from: Three months ended Nine months ended Amounts included in the contract liability balance at the beginning of the period $ 252 $ 471 |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurements | 9 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 4 The financial instruments shown below are presented at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not may Assets and liabilities recorded at fair value in the consolidated balance sheet are categorized based upon the level of judgment associated with the inputs used to measure their fair values. Hierarchical levels directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities and the methodologies used in valuation are as follows: Level 1 Level 2 Level 3 There were no March 31, 2023 June 30, 2022 Cash and cash equivalents, accounts receivable, accounts payable, and debt are carried at cost, which approximates fair value. The fair values of financial instruments were as follows (in thousands): March 31, 2023 Total Level 1 Level 2 Level 3 Assets Marketable securities - deferred compensation plan $ 3,629 $ 3,629 $ - $ - Interest rate swaps 9,539 - 9,539 - Liabilities Foreign exchange contracts $ 1,064 $ - 1,064 $ - June 30, 2022 Total Level 1 Level 2 Level 3 Assets Marketable securities - deferred compensation plan $ 3,033 $ 3,033 $ - $ - Foreign exchange contracts 122 - 122 - Interest rate swaps 8,420 - 8,420 - Liabilities Foreign exchange contracts $ 711 $ - $ 711 $ - Contingent consideration (a) 1,167 - - 1,167 (a) The financial liabilities based upon Level 3 The Company is contractually obligated to pay contingent consideration to the sellers of GS Engineering in the event that certain revenue and gross margin targets are achieved during the five not third fourth 2020, 2021 2022, March 31, 2023 2023 2024. In connection with its acquisition of Renco Electronics, the Company was obligated to pay contingent consideration over a three first 2022, first od. During the third 2022 , the parties agreed to reduce and fix the aggregate earnout payments to a total of $3.4 million. The parties also agreed to accelerate the payment of the remaining unpaid amounts. During the fourth 2022 , the Company paid $1.0 million to the sellers of Renco. The remaining unpaid amount of $1.2 million was paid in the first 2023 The Company has determined the fair value of the liabilities for the contingent consideration based on a probability-weighted discounted cash flow analysis. This fair value not 3 The Company will update its assumptions each reporting period based on new developments and record such amounts at fair value based on the revised assumptions until the agreements expire. |
Note 5 - Inventories
Note 5 - Inventories | 9 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 5 Inventories from continuing operations are comprised of the following (in thousands): March 31, 2023 June 30, 2022 Raw materials $ 50,037 $ 56,321 Work in process 21,092 20,592 Finished goods 33,387 28,426 Total $ 104,516 $ 105,339 Distribution costs associated with the sale of inventory, which are recorded as a component of selling, general and administrative expenses in the accompanying unaudited condensed consolidated statements of operations were $3.2 million and $2.5 million for the three March 31, 2023 2022 nine March 31, 2023 2022 |
Note 6 - Goodwill
Note 6 - Goodwill | 9 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] | 6 Goodwill Changes to goodwill by segment during the period were as follows (in thousands): June 30, 2022 Other Translation Adjustment March 31, 2023 Electronics $ 136,969 $ - $ 1,420 $ 138,389 Engraving 76,250 - 274 76,524 Scientific 15,454 - - 15,454 Engineering Technologies 35,928 - 109 36,037 Specialty Solutions 3,305 (246 ) - 3,059 Total $ 267,906 $ (246 ) $ 1,803 $ 269,463 |
Note 7 - Warranty Reserves
Note 7 - Warranty Reserves | 9 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Product Warranty Disclosure [Text Block] | 7 The expected cost associated with warranty obligations on our products is recorded as a component of cost of sales when the revenue is recognized. The Company’s estimate of warranty cost is based on contract terms and historical warranty loss experience that is periodically adjusted for recent actual experience. Since warranty estimates are forecasts based on the best available information, claims costs may The change in warranty reserves from continuing operations, which are recorded as a component of accrued liabilities were as follows (in thousands): March 31, 2023 June 30, 2022 Balance at beginning of year $ 1,918 $ 2,086 Acquisitions and other charges 12 (29 ) Warranty expense 1,033 1,083 Warranty claims (1,197 ) (1,222 ) Balance at end of period $ 1,766 $ 1,918 |
Note 8 - Debt
Note 8 - Debt | 9 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 8 Debt Long-term debt is comprised of the following (in thousands): March 31, 2023 June 30, 2022 Bank credit agreements $ 175,000 $ 175,000 Total funded debt 175,000 175,000 Issuance cost (1,667 ) (170 ) Total long-term debt $ 173,333 $ 174,830 Bank Credit Agreements During the third 2023, five At March 31, 2023 may March 31, 2023 March 31, 2023 |
Note 9 - Accrued Liabilities
Note 9 - Accrued Liabilities | 9 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | 9 Accrued liabilities consist of the following (in thousands): March 31, 2023 June 30, 2022 Payroll and employee benefits $ 25,794 $ 31,211 Operating lease current liability 8,055 7,891 Litigation accrual - 5,745 Warranty reserves 1,766 1,918 Fair value of derivatives 1,064 - Restructuring costs 1,869 1,740 Workers' compensation 1,354 1,664 Contingent consideration - 1,166 Other 15,802 16,438 Total $ 55,704 $ 67,773 |
Note 10 - Derivative Financial
Note 10 - Derivative Financial Instruments | 9 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 10 Derivative Financial Instruments The Company is exposed to market risks from changes in interest rates, commodity prices and changes in foreign currency rates. The Company selectively uses derivative financial instruments in order to manage certain of these risks. Information about the Company’s derivative financial instruments is as follows: Interest Rate Swaps From time to time as dictated by market opportunities, the Company enters into interest rate swap agreements designed to manage exposure to interest rates on the Company’s variable rate indebtedness. The Company recognizes all derivatives on its balance sheet at fair value. The Company has designated its interest rate swap agreements, including those that may The Company’s effective swap agreements convert the base borrowing rate on $175 million of debt due under our revolving credit agreement from a variable rate equal to 1 March 31, 2023 Effective Date Notional Amount Fixed Interest Rate Maturity March 31, 2023 June 30, 2022 February 6, 2023 25,000 2.80% August 6, 2023 $ 185 $ 48 February 23, 2023 100,000 0.86% March 23, 2025 6,157 5,538 April 24, 2020 25,000 0.88% April 24, 2025 1,654 1,447 February 24, 2023 25,000 0.86% March 24, 2025 1,543 1,387 $ 9,539 $ 8,420 The Company reported no losses for the three nine March 31, 2023 may Foreign Exchange Contracts Forward foreign currency exchange contracts are used to limit the impact of currency fluctuations on certain anticipated foreign cash flows, such as collections from customers and loan payments between subsidiaries. The Company enters into such contracts for hedging purposes only. The Company has designated certain of these currency contracts as hedges, and changes in the fair value of these contracts are recognized in other comprehensive income until the hedged items are recognized in earnings. Hedge ineffectiveness, if any, associated with these contracts will be reported in net income. At March 31, 2023 June 30, 2022 2024 2025, The notional amounts of the Company’s forward contracts, by currency, are as follows (in thousands): Currency March 31, 2023 June 30, 2022 EUR - 5,750 CAD 16,600 16,600 JPY 2,100,000 1,000,000 The table below presents the fair value of derivative financial instruments as well as their classification on the balance sheet (in thousands): Asset Derivatives March 31, 2023 June 30, 2022 Derivative designated Balance Balance as hedging instruments Sheet Sheet Line Item Fair Value Line Item Fair Value Interest rate swaps Prepaid expenses and other current assets $ 9,539 Prepaid expenses and other current assets $ 8,420 Foreign exchange contracts Prepaid expenses and other current assets - Prepaid expenses and other current assets 122 $ 9,539 $ 8,542 Liability Derivatives March 31, 2023 June 30, 2022 Derivative designated Balance Balance as hedging instruments Sheet Sheet Line Item Fair Value Line Item Fair Value Foreign exchange contracts Accrued liabilities $ 823 Accrued liabilities $ - $ 823 $ - The table below presents the amount of gain (loss) recognized in comprehensive income on our derivative financial instruments (effective portion) designated as hedging instruments and their classification within comprehensive income for the periods ended (in thousands): Three Months Ended Nine Months Ended March 31, March 31, 2023 2022 2023 2022 Interest rate swaps $ (586 ) $ 6,045 $ 4,174 $ 7,885 Foreign exchange contracts 18 (217 ) (945 ) 5 $ (568 ) $ 5,828 $ 3,229 $ 7,890 The table below presents the amount reclassified from accumulated other comprehensive income (loss) to net income for the periods ended (in thousands): Details about Accumulated Affected line item Other Comprehensive Three Months Ended Nine Months Ended in the Unaudited Income (Loss) Components March 31, March 31, Condensed Statements 2023 2022 2023 2022 of Operations Interest rate swaps $ (1,449 ) $ 557 $ (3,008 ) $ 1,761 Interest expense Foreign exchange contracts (26 ) 207 1,069 826 Other non-operating (income) expense, net $ (1,475 ) $ 764 $ (1,939 ) $ 2,587 |
Note 11 - Retirement Benefits
Note 11 - Retirement Benefits | 9 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | 11 The Company has defined benefit pension plans covering certain current and former employees both inside and outside of the U.S. The Company’s pension plan for U.S. employees is frozen for substantially all participants and has been replaced with a defined contribution benefit plan. Obligations under the Company's defined benefit plan operated in Ireland have been transferred to the buyer of the Procon business as part of the divestiture. Net periodic benefit cost for the Company’s U.S. and Foreign pension benefit plans for the periods ended consisted of the following components (in thousands): U.S. Plans Non-U.S. Plans Three Months Ended Three Months Ended March 31, March 31, 2023 2022 2023 2022 Service cost $ - $ 1 $ 44 $ 58 Interest cost 2,397 1,830 249 193 Expected return on plan assets (2,993 ) (3,260 ) (218 ) (215 ) Recognized net actuarial loss 953 1,384 (13 ) 84 Amortization of prior service cost - - (1 ) (1 ) Net periodic benefit cost $ 357 $ (45 ) $ 61 $ 119 U.S. Plans Non-U.S. Plans Nine Months Ended Nine Months Ended March 31, March 31, 2023 2022 2023 2022 Service cost $ - $ 3 $ 131 $ 179 Interest cost 7,190 5,490 774 576 Expected return on plan assets (8,980 ) (9,779 ) (710 ) (641 ) Recognized net actuarial loss 2,860 4,151 (44 ) 253 Amortization of prior service cost - - (3 ) (3 ) Net periodic benefit cost $ 1,070 $ (135 ) $ 148 $ 364 The following table sets forth the amounts recognized for the Company's defined benefit pension plans (in thousands): Amounts recognized in the consolidated balance sheets consist of: March 31, 2023 June 30, 2022 Prepaid benefit cost $ 4,722 $ 6,295 Current liabilities (529 ) (456 ) Non-current liabilities (45,948 ) (47,695 ) Net amount recognized $ (41,755 ) $ (41,856 ) The contributions made to defined benefit plans are presented below along with remaining contributions to be made for fiscal year 2023 Fiscal Year 2023 Fiscal Year 2022 Remaining Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended Contributions Contributions to defined benefit plans March 31, 2023 March 31, 2023 March 31, 2022 March 31, 2022 FY 2023 United States, funded plan $ - $ - $ - $ - $ - United States, unfunded plan 49 151 52 157 49 United Kingdom - - - - - Germany, unfunded plan - - - - 239 $ 49 $ 151 $ 52 $ 157 $ 288 |
Note 12 - Income Taxes
Note 12 - Income Taxes | 9 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 12 ) Income Taxes The Company's effective tax rate from continuing operations for the third 2023 nine March 31, 2023 The tax rate was impacted in the current period by the following items: (i) a discrete tax benefit related to the partial release of a valuation allowance previously recorded against deferred tax assets and connected to capital loss carryforwards, resulting from the utilization of capital loss carryforward to offset capital gain from the sale of Procon (ii) a discrete tax expense related to provision to return adjustments as a result of a change in tax rate for the Company’s operations within China's tax jurisdiction, (iii) a discrete tax benefit related to provision to return adjustments associated with federal and state research and development tax credits, (iv) the jurisdictional mix of earnings and (v) foreign withholding taxes. |
Note 13 - Earnings Per Share
Note 13 - Earnings Per Share | 9 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 13 Earnings Per Share The following table sets forth a reconciliation of the number of shares (in thousands) used in the computation of basic and diluted earnings per share: Three Months Ended Nine Months Ended March 31, March 31, 2023 2022 2023 2022 Basic - Average shares outstanding 11,811 11,982 11,825 12,009 Dilutive effect of unvested, restricted stock awards 84 107 92 112 Diluted - Average shares outstanding 11,895 12,089 11,917 12,121 Earnings available to common stockholders are the same for computing both basic and diluted earnings per share. There were no outstanding instruments that had an anti-dilutive effect at March 31, 2023 2022 Performance stock units of 132,217 and 142,170 for the nine March 31, 2023 2022, not |
Note 14 - Accumulated Other Com
Note 14 - Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 14 ) Accumulated Other Comprehensive Income (L oss) The components of the Company’s accumulated other comprehensive income (loss) are as follows (in thousands): March 31, 2023 June 30, 2022 Foreign currency translation adjustment $ (64,095 ) $ (67,679 ) Unrealized pension losses, net of tax (91,096 ) (92,641 ) Unrealized gains (losses) on derivative instruments, net of tax 8,016 7,008 Total $ (147,175 ) $ (153,312 ) |
Note 15 - Contingencies
Note 15 - Contingencies | 9 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Contingencies Disclosure [Text Block] | 15 ) Contingencies From time to time, the Company is subject to various claims and legal proceedings, including claims related to environmental remediation, either asserted or unasserted, that arise in the ordinary course of business. While the outcome of these proceedings and claims cannot be predicted with certainty, the Company’s management does not Litigation As reported in the Company's annual report on Form 10 August 5, 2022, fourth 2022, first 2023, |
Note 16 - Industry Segment Info
Note 16 - Industry Segment Information | 9 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 16 Industry Segment Information The Company has five • Electronics – manufactures and sells electronic components for applications throughout the end user market spectrum; • Engraving – provides mold texturizing, slush molding tools, project management and design services, roll engraving, hygiene product tooling, low observation vents for stealth aircraft, and process machinery for a number of industries; • Scientific – sells specialty temperature-controlled equipment for the medical, scientific, pharmaceutical, biotech and industrial markets; • Engineering Technologies – provides net and near net formed single-source customized solutions in the manufacture of engineered components for the aviation, aerospace, defense, energy, industrial, medical, marine, oil and gas, and manned and unmanned space markets; • Specialty Solutions – an aggregation of two Net sales and income (loss) from continuing operations by segment were as follows (in thousands): Three Months Ended March 31, Net Sales Income from Operations 2023 2022 2023 2022 Industry segment: Electronics $ 78,211 $ 79,889 $ 17,047 $ 19,194 Engraving 36,909 37,223 5,353 5,728 Scientific 18,898 18,914 4,561 4,155 Engineering Technologies 18,052 20,890 2,351 2,327 Specialty Solutions 32,262 32,365 7,151 3,632 Corporate - - (8,520 ) (8,961 ) Restructuring costs - - (2,237 ) (1,186 ) Gain on sale of business - - 62,105 - Acquisition related costs - - (21 ) (419 ) Other operating income (expense), net - - 727 - Sub-total $ 184,332 $ 189,281 $ 88,517 $ 24,470 Interest expense 1,415 1,238 Other non-operating (income) expense 747 340 Income from continuing operations before income taxes $ 86,355 $ 22,892 Nine Months Ended March 31, Net Sales Income from Operations 2023 2022 2023 2022 Industry segment: Electronics $ 225,966 $ 232,351 $ 52,160 $ 54,624 Engraving 109,622 109,037 17,580 15,806 Scientific 56,646 65,079 12,449 14,153 Engineering Technologies 59,244 56,558 7,957 5,540 Specialty Solutions 101,243 87,575 18,944 10,185 Corporate - - (25,376 ) (25,507 ) Restructuring costs - - (3,330 ) (2,469 ) Gain on sale of business - - 62,105 - Acquisition related costs - - (487 ) (1,561 ) Other operating income (expense), net - - 611 (1,700 ) Sub-total $ 552,721 $ 550,600 $ 142,613 $ 69,071 Interest expense 4,168 4,484 Other non-operating (income) expense 1,695 651 Income from continuing operations before income taxes $ 136,750 $ 63,936 Net sales include only transactions with unaffiliated customers and include no |
Note 17 - Restructuring
Note 17 - Restructuring | 9 Months Ended |
Mar. 31, 2023 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | 17 The Company has undertaken a number of initiatives that have resulted in severance, restructuring, and related charges. 2023 The Company continues to focus its efforts to reduce cost and improve productivity across its businesses, particularly through headcount reductions, facility closures, and consolidations. Restructuring expenses primarily related to headcount reductions and other cost saving initiatives. The Company expects the 2023 2024. Prior Year Restructuring Initiatives Restructuring expenses primarily related to headcount reductions and facility rationalization within our Specialty Solutions segment. The Company also incurred restructuring expenses related to third 2023. A summary of charges by initiative is as follows (in thousands): Three Months Ended Nine Months Ended March 31, 2023 March 31, 2023 Fiscal Year 2023 Involuntary Employee Severance and Benefit Costs Other Total Involuntary Employee Severance and Benefit Costs Other Total Current year initiatives $ 1,460 $ 68 $ 1,528 $ 1,671 $ 185 $ 1,856 Prior year initiatives 87 622 709 412 1,062 1,474 $ 1,547 $ 690 $ 2,237 $ 2,083 $ 1,247 $ 3,330 Three Months Ended Nine Months Ended March 31, 2022 March 31, 2022 Fiscal Year 2022 Involuntary Employee Severance and Benefit Costs Other Total Involuntary Employee Severance and Benefit Costs Other Total Current year initiatives $ 966 $ 220 $ 1,186 $ 1,637 $ 832 $ 2,469 Prior year initiatives - - - - - - $ 966 $ 220 $ 1,186 $ 1,637 $ 832 $ 2,469 Activity in the reserve related to the initiatives is as follows (in thousands): Current Year Initiatives Involuntary Employee Severance and Benefit Costs Other Total Restructuring liabilities at June 30, 2022 $ - $ - $ - Additions and adjustments 1,671 185 1,856 Payments (339 ) (185 ) (524 ) Restructuring liabilities at March 31, 2023 $ 1,332 $ - $ 1,332 Prior Year Initiatives Involuntary Employee Severance and Benefit Costs Other Total Restructuring liabilities at June 30, 2022 $ 1,045 $ 695 $ 1,740 Additions and adjustments 412 1,062 1,474 Payments (1,210 ) (1,467 ) (2,677 ) Restructuring liabilities at March 31, 2023 $ 247 $ 290 $ 537 Prior Year Initiatives Involuntary Employee Severance and Benefit Costs Other Total Restructuring liabilities at June 30, 2021 $ 39 $ 10 $ 49 Additions and adjustments 1,637 832 2,469 Payments (1,099 ) (775 ) (1,874 ) Restructuring liabilities at March 31, 2022 $ 577 $ 67 $ 644 The Company’s total restructuring expenses by segment are as follows (in thousands): Three Months Ended Nine Months Ended March 31, 2023 March 31, 2023 Involuntary Employee Severance and Benefit Costs Other Total Involuntary Employee Severance and Benefit Costs Other Total Electronics $ 58 $ 545 $ 603 $ 214 $ 885 $ 1,099 Engraving 157 145 302 537 362 899 Corporate 1,332 - 1,332 1,332 - 1,332 $ 1,547 $ 690 $ 2,237 $ 2,083 $ 1,247 $ 3,330 Three Months Ended Nine Months Ended March 31, 2022 March 31, 2022 Involuntary Employee Severance and Benefit Costs Other Total Involuntary Employee Severance and Benefit Costs Other Total Electronics $ 441 $ 65 $ 506 $ 513 $ 83 $ 596 Engraving 379 149 528 832 679 1,511 Engineering Technologies 97 6 103 238 6 244 Specialty Solutions - - - - 64 64 Corporate 49 - 49 54 - 54 $ 966 $ 220 $ 1,186 $ 1,637 $ 832 $ 2,469 Restructuring expense is expected to be approximately $0.8 million 2023. |
Note 18 - Divestitures
Note 18 - Divestitures | 9 Months Ended |
Mar. 31, 2023 | |
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 18 On February 28, 2023, first eight 2023 . The Company received $67.0 million cash consideration at closing, which is presented as an investing cash flow for the nine March 31, 2023. |
Note 2 - Acquisitions (Tables)
Note 2 - Acquisitions (Tables) | 9 Months Ended |
Mar. 31, 2023 | |
Renco Electronics [Member] | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Final Allocation Fair value of business combination: Cash payments $ 10,016 Less cash acquired (114 ) Total $ 9,902 Final Allocation Identifiable assets acquired and liabilities assumed: Other acquired assets $ 488 Inventories 529 Property, plant, & equipment 420 Identifiable intangible assets 2,780 Goodwill 5,840 Liabilities assumed (155 ) Total $ 9,902 |
Note 3 - Revenue From Contrac_2
Note 3 - Revenue From Contracts With Customers (Tables) | 9 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended Revenue by Product Line March 31, 2023 March 31, 2022 Electronics $ 78,211 $ 79,889 Engraving Services 35,454 34,399 Engraving Products 1,455 2,824 Total Engraving 36,909 37,223 Scientific 18,898 18,914 Engineering Technologies 18,052 20,890 Hydraulics Cylinders and Systems 13,548 15,306 Merchandising & Display 13,203 8,438 Pumps 5,511 8,621 Total Specialty Solutions 32,262 32,365 Total revenue by product line $ 184,332 $ 189,281 Nine Months Ended Revenue by Product Line March 31, 2023 March 31, 2022 Electronics $ 225,966 $ 232,351 Engraving Services 105,259 101,637 Engraving Products 4,363 7,400 Total Engraving 109,622 109,037 Scientific 56,646 65,079 Engineering Technologies 59,244 56,558 Hydraulics Cylinders and Systems 47,823 39,207 Merchandising & Display 32,160 23,548 Pumps 21,260 24,820 Total Specialty Solutions 101,243 87,575 Total revenue by product line $ 552,721 $ 550,600 Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended Net sales March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 United States $ 112,002 $ 110,076 $ 338,464 $ 314,657 Asia Pacific 29,204 37,441 95,858 116,842 EMEA (1) 38,953 37,963 106,279 108,841 Other Americas 4,173 3,801 12,120 10,260 Total $ 184,332 $ 189,281 $ 552,721 $ 550,600 Three Months Ended Timing of Revenue Recognition March 31, 2023 March 31, 2022 Products and services transferred at a point in time $ 169,669 $ 170,949 Products transferred over time 14,663 18,332 Net sales $ 184,332 $ 189,281 Nine Months Ended Timing of Revenue Recognition March 31, 2023 March 31, 2022 Products and services transferred at a point in time $ 501,090 $ 510,988 Products transferred over time 51,631 39,612 Net sales $ 552,721 $ 550,600 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | Balance at Beginning of Period Additions Deductions Balance at End of Period Nine months ended March 31, 2023 Contract assets: Prepaid expenses and other current assets $ 24,679 $ 49,682 $ 43,820 $ 30,541 Contract liabilities: Customer deposits 41 13,015 12,750 306 Balance at Beginning of Period Additions Deductions Balance at End of Period Nine months ended March 31, 2022 Contract assets: Prepaid expenses and other current assets $ 15,013 $ 35,091 $ 25,711 $ 24,393 Contract liabilities: Customer deposits 471 10,293 10,721 43 March 31, 2023 Revenue recognized in the period from: Three months ended Nine months ended Amounts included in the contract liability balance at the beginning of the period $ 38 $ 41 March 31, 2022 Revenue recognized in the period from: Three months ended Nine months ended Amounts included in the contract liability balance at the beginning of the period $ 252 $ 471 |
Note 4 - Fair Value Measureme_2
Note 4 - Fair Value Measurements (Tables) | 9 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | March 31, 2023 Total Level 1 Level 2 Level 3 Assets Marketable securities - deferred compensation plan $ 3,629 $ 3,629 $ - $ - Interest rate swaps 9,539 - 9,539 - Liabilities Foreign exchange contracts $ 1,064 $ - 1,064 $ - June 30, 2022 Total Level 1 Level 2 Level 3 Assets Marketable securities - deferred compensation plan $ 3,033 $ 3,033 $ - $ - Foreign exchange contracts 122 - 122 - Interest rate swaps 8,420 - 8,420 - Liabilities Foreign exchange contracts $ 711 $ - $ 711 $ - Contingent consideration (a) 1,167 - - 1,167 |
Note 5 - Inventories (Tables)
Note 5 - Inventories (Tables) | 9 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | March 31, 2023 June 30, 2022 Raw materials $ 50,037 $ 56,321 Work in process 21,092 20,592 Finished goods 33,387 28,426 Total $ 104,516 $ 105,339 |
Note 6 - Goodwill (Tables)
Note 6 - Goodwill (Tables) | 9 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | June 30, 2022 Other Translation Adjustment March 31, 2023 Electronics $ 136,969 $ - $ 1,420 $ 138,389 Engraving 76,250 - 274 76,524 Scientific 15,454 - - 15,454 Engineering Technologies 35,928 - 109 36,037 Specialty Solutions 3,305 (246 ) - 3,059 Total $ 267,906 $ (246 ) $ 1,803 $ 269,463 |
Note 7 - Warranty Reserves (Tab
Note 7 - Warranty Reserves (Tables) | 9 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Product Warranty Liability [Table Text Block] | March 31, 2023 June 30, 2022 Balance at beginning of year $ 1,918 $ 2,086 Acquisitions and other charges 12 (29 ) Warranty expense 1,033 1,083 Warranty claims (1,197 ) (1,222 ) Balance at end of period $ 1,766 $ 1,918 |
Note 8 - Debt (Tables)
Note 8 - Debt (Tables) | 9 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Long-Term Debt Instruments [Table Text Block] | March 31, 2023 June 30, 2022 Bank credit agreements $ 175,000 $ 175,000 Total funded debt 175,000 175,000 Issuance cost (1,667 ) (170 ) Total long-term debt $ 173,333 $ 174,830 |
Note 9 - Accrued Liabilities (T
Note 9 - Accrued Liabilities (Tables) | 9 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | March 31, 2023 June 30, 2022 Payroll and employee benefits $ 25,794 $ 31,211 Operating lease current liability 8,055 7,891 Litigation accrual - 5,745 Warranty reserves 1,766 1,918 Fair value of derivatives 1,064 - Restructuring costs 1,869 1,740 Workers' compensation 1,354 1,664 Contingent consideration - 1,166 Other 15,802 16,438 Total $ 55,704 $ 67,773 |
Note 10 - Derivative Financia_2
Note 10 - Derivative Financial Instruments (Tables) | 9 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Interest Rate Derivatives [Table Text Block] | Effective Date Notional Amount Fixed Interest Rate Maturity March 31, 2023 June 30, 2022 February 6, 2023 25,000 2.80% August 6, 2023 $ 185 $ 48 February 23, 2023 100,000 0.86% March 23, 2025 6,157 5,538 April 24, 2020 25,000 0.88% April 24, 2025 1,654 1,447 February 24, 2023 25,000 0.86% March 24, 2025 1,543 1,387 $ 9,539 $ 8,420 |
Schedule of Foreign Exchange Contracts, Statement of Financial Position [Table Text Block] | Currency March 31, 2023 June 30, 2022 EUR - 5,750 CAD 16,600 16,600 JPY 2,100,000 1,000,000 |
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] | Asset Derivatives March 31, 2023 June 30, 2022 Derivative designated Balance Balance as hedging instruments Sheet Sheet Line Item Fair Value Line Item Fair Value Interest rate swaps Prepaid expenses and other current assets $ 9,539 Prepaid expenses and other current assets $ 8,420 Foreign exchange contracts Prepaid expenses and other current assets - Prepaid expenses and other current assets 122 $ 9,539 $ 8,542 Liability Derivatives March 31, 2023 June 30, 2022 Derivative designated Balance Balance as hedging instruments Sheet Sheet Line Item Fair Value Line Item Fair Value Foreign exchange contracts Accrued liabilities $ 823 Accrued liabilities $ - $ 823 $ - |
Derivative Instruments, Gain (Loss) [Table Text Block] | Three Months Ended Nine Months Ended March 31, March 31, 2023 2022 2023 2022 Interest rate swaps $ (586 ) $ 6,045 $ 4,174 $ 7,885 Foreign exchange contracts 18 (217 ) (945 ) 5 $ (568 ) $ 5,828 $ 3,229 $ 7,890 |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Details about Accumulated Affected line item Other Comprehensive Three Months Ended Nine Months Ended in the Unaudited Income (Loss) Components March 31, March 31, Condensed Statements 2023 2022 2023 2022 of Operations Interest rate swaps $ (1,449 ) $ 557 $ (3,008 ) $ 1,761 Interest expense Foreign exchange contracts (26 ) 207 1,069 826 Other non-operating (income) expense, net $ (1,475 ) $ 764 $ (1,939 ) $ 2,587 |
Note 11 - Retirement Benefits (
Note 11 - Retirement Benefits (Tables) | 9 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Defined Benefit Plan Contributions [Table Text Block] | Fiscal Year 2023 Fiscal Year 2022 Remaining Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended Contributions Contributions to defined benefit plans March 31, 2023 March 31, 2023 March 31, 2022 March 31, 2022 FY 2023 United States, funded plan $ - $ - $ - $ - $ - United States, unfunded plan 49 151 52 157 49 United Kingdom - - - - - Germany, unfunded plan - - - - 239 $ 49 $ 151 $ 52 $ 157 $ 288 |
Pension Plan [Member] | |
Notes Tables | |
Schedule of Net Benefit Costs [Table Text Block] | U.S. Plans Non-U.S. Plans Three Months Ended Three Months Ended March 31, March 31, 2023 2022 2023 2022 Service cost $ - $ 1 $ 44 $ 58 Interest cost 2,397 1,830 249 193 Expected return on plan assets (2,993 ) (3,260 ) (218 ) (215 ) Recognized net actuarial loss 953 1,384 (13 ) 84 Amortization of prior service cost - - (1 ) (1 ) Net periodic benefit cost $ 357 $ (45 ) $ 61 $ 119 U.S. Plans Non-U.S. Plans Nine Months Ended Nine Months Ended March 31, March 31, 2023 2022 2023 2022 Service cost $ - $ 3 $ 131 $ 179 Interest cost 7,190 5,490 774 576 Expected return on plan assets (8,980 ) (9,779 ) (710 ) (641 ) Recognized net actuarial loss 2,860 4,151 (44 ) 253 Amortization of prior service cost - - (3 ) (3 ) Net periodic benefit cost $ 1,070 $ (135 ) $ 148 $ 364 |
Schedule of Net Funded Status [Table Text Block] | Amounts recognized in the consolidated balance sheets consist of: March 31, 2023 June 30, 2022 Prepaid benefit cost $ 4,722 $ 6,295 Current liabilities (529 ) (456 ) Non-current liabilities (45,948 ) (47,695 ) Net amount recognized $ (41,755 ) $ (41,856 ) |
Note 13 - Earnings Per Share (T
Note 13 - Earnings Per Share (Tables) | 9 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Nine Months Ended March 31, March 31, 2023 2022 2023 2022 Basic - Average shares outstanding 11,811 11,982 11,825 12,009 Dilutive effect of unvested, restricted stock awards 84 107 92 112 Diluted - Average shares outstanding 11,895 12,089 11,917 12,121 |
Note 14 - Accumulated Other C_2
Note 14 - Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | March 31, 2023 June 30, 2022 Foreign currency translation adjustment $ (64,095 ) $ (67,679 ) Unrealized pension losses, net of tax (91,096 ) (92,641 ) Unrealized gains (losses) on derivative instruments, net of tax 8,016 7,008 Total $ (147,175 ) $ (153,312 ) |
Note 16 - Industry Segment In_2
Note 16 - Industry Segment Information (Tables) | 9 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | Three Months Ended March 31, Net Sales Income from Operations 2023 2022 2023 2022 Industry segment: Electronics $ 78,211 $ 79,889 $ 17,047 $ 19,194 Engraving 36,909 37,223 5,353 5,728 Scientific 18,898 18,914 4,561 4,155 Engineering Technologies 18,052 20,890 2,351 2,327 Specialty Solutions 32,262 32,365 7,151 3,632 Corporate - - (8,520 ) (8,961 ) Restructuring costs - - (2,237 ) (1,186 ) Gain on sale of business - - 62,105 - Acquisition related costs - - (21 ) (419 ) Other operating income (expense), net - - 727 - Sub-total $ 184,332 $ 189,281 $ 88,517 $ 24,470 Interest expense 1,415 1,238 Other non-operating (income) expense 747 340 Income from continuing operations before income taxes $ 86,355 $ 22,892 Nine Months Ended March 31, Net Sales Income from Operations 2023 2022 2023 2022 Industry segment: Electronics $ 225,966 $ 232,351 $ 52,160 $ 54,624 Engraving 109,622 109,037 17,580 15,806 Scientific 56,646 65,079 12,449 14,153 Engineering Technologies 59,244 56,558 7,957 5,540 Specialty Solutions 101,243 87,575 18,944 10,185 Corporate - - (25,376 ) (25,507 ) Restructuring costs - - (3,330 ) (2,469 ) Gain on sale of business - - 62,105 - Acquisition related costs - - (487 ) (1,561 ) Other operating income (expense), net - - 611 (1,700 ) Sub-total $ 552,721 $ 550,600 $ 142,613 $ 69,071 Interest expense 4,168 4,484 Other non-operating (income) expense 1,695 651 Income from continuing operations before income taxes $ 136,750 $ 63,936 |
Note 17 - Restructuring (Tables
Note 17 - Restructuring (Tables) | 9 Months Ended |
Mar. 31, 2023 | |
Notes Tables | |
Restructuring and Related Costs [Table Text Block] | Three Months Ended Nine Months Ended March 31, 2023 March 31, 2023 Fiscal Year 2023 Involuntary Employee Severance and Benefit Costs Other Total Involuntary Employee Severance and Benefit Costs Other Total Current year initiatives $ 1,460 $ 68 $ 1,528 $ 1,671 $ 185 $ 1,856 Prior year initiatives 87 622 709 412 1,062 1,474 $ 1,547 $ 690 $ 2,237 $ 2,083 $ 1,247 $ 3,330 Three Months Ended Nine Months Ended March 31, 2022 March 31, 2022 Fiscal Year 2022 Involuntary Employee Severance and Benefit Costs Other Total Involuntary Employee Severance and Benefit Costs Other Total Current year initiatives $ 966 $ 220 $ 1,186 $ 1,637 $ 832 $ 2,469 Prior year initiatives - - - - - - $ 966 $ 220 $ 1,186 $ 1,637 $ 832 $ 2,469 |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | Current Year Initiatives Involuntary Employee Severance and Benefit Costs Other Total Restructuring liabilities at June 30, 2022 $ - $ - $ - Additions and adjustments 1,671 185 1,856 Payments (339 ) (185 ) (524 ) Restructuring liabilities at March 31, 2023 $ 1,332 $ - $ 1,332 Prior Year Initiatives Involuntary Employee Severance and Benefit Costs Other Total Restructuring liabilities at June 30, 2022 $ 1,045 $ 695 $ 1,740 Additions and adjustments 412 1,062 1,474 Payments (1,210 ) (1,467 ) (2,677 ) Restructuring liabilities at March 31, 2023 $ 247 $ 290 $ 537 Prior Year Initiatives Involuntary Employee Severance and Benefit Costs Other Total Restructuring liabilities at June 30, 2021 $ 39 $ 10 $ 49 Additions and adjustments 1,637 832 2,469 Payments (1,099 ) (775 ) (1,874 ) Restructuring liabilities at March 31, 2022 $ 577 $ 67 $ 644 |
Restructuring Expenses By Segment [Table Text Block] | Three Months Ended Nine Months Ended March 31, 2023 March 31, 2023 Involuntary Employee Severance and Benefit Costs Other Total Involuntary Employee Severance and Benefit Costs Other Total Electronics $ 58 $ 545 $ 603 $ 214 $ 885 $ 1,099 Engraving 157 145 302 537 362 899 Corporate 1,332 - 1,332 1,332 - 1,332 $ 1,547 $ 690 $ 2,237 $ 2,083 $ 1,247 $ 3,330 Three Months Ended Nine Months Ended March 31, 2022 March 31, 2022 Involuntary Employee Severance and Benefit Costs Other Total Involuntary Employee Severance and Benefit Costs Other Total Electronics $ 441 $ 65 $ 506 $ 513 $ 83 $ 596 Engraving 379 149 528 832 679 1,511 Engineering Technologies 97 6 103 238 6 244 Specialty Solutions - - - - 64 64 Corporate 49 - 49 54 - 54 $ 966 $ 220 $ 1,186 $ 1,637 $ 832 $ 2,469 |
Note 2 - Acquisitions (Details
Note 2 - Acquisitions (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Payments to Acquire Businesses, Net of Cash Acquired, Total | $ 0 | $ 9,902 | ||||
Goodwill, Ending Balance | $ 269,463 | $ 267,906 | 269,463 | |||
Business Combination, Acquisition Related Costs | 21 | $ 419 | $ 487 | $ 1,561 | ||
Maximum [Member] | ||||||
Business Combination, Acquisition Related Costs | $ 100 | |||||
Sensor Solutions [Member] | ||||||
Payments to Acquire Businesses, Net of Cash Acquired, Total | $ 9,900 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 2,800 | |||||
Goodwill, Ending Balance | 5,800 | |||||
Sensor Solutions [Member] | Customer-Related Intangible Assets [Member] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 2,000 | |||||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | |||||
Sensor Solutions [Member] | Trademarks [Member] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | $ 800 | |||||
Standex Electronics [Member] | ||||||
Payments to Acquire Businesses, Gross | 3,100 | |||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | $ 2,500 |
Note 2 - Acquisitions - Compone
Note 2 - Acquisitions - Components of Fair Value of Acquisitions and Allocation of Purchase Price For Acquisition of Renco (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Mar. 31, 2023 | Jun. 30, 2022 |
Goodwill | $ 269,463 | $ 267,906 | |
Renco Electronics [Member] | |||
Cash payments | $ 10,016 | ||
Less cash acquired | (114) | ||
Total | 9,902 | ||
Other acquired assets | 488 | ||
Inventories | 529 | ||
Property, plant, & equipment | 420 | ||
Identifiable intangible assets | 2,780 | ||
Goodwill | 5,840 | ||
Liabilities assumed | $ (155) |
Note 3 - Revenue From Contrac_3
Note 3 - Revenue From Contracts With Customers - Revenue Disaggregated (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | ||
Net sales | $ 184,332 | $ 189,281 | $ 552,721 | $ 550,600 | |
Transferred at Point in Time [Member] | |||||
Net sales | 169,669 | 170,949 | 501,090 | 510,988 | |
Transferred over Time [Member] | |||||
Net sales | 14,663 | 18,332 | 51,631 | 39,612 | |
UNITED STATES | |||||
Net sales | 112,002 | 110,076 | 338,464 | 314,657 | |
Asia Pacific [Member] | |||||
Net sales | 29,204 | 37,441 | 95,858 | 116,842 | |
EMEA [Member] | |||||
Net sales | [1] | 38,953 | 37,963 | 106,279 | 108,841 |
Other Americas [Member] | |||||
Net sales | 4,173 | 3,801 | 12,120 | 10,260 | |
Electronics Products Group [Member] | |||||
Net sales | 78,211 | 79,889 | 225,966 | 232,351 | |
Engraving Group [Member] | |||||
Net sales | 36,909 | 37,223 | 109,622 | 109,037 | |
Engraving Group [Member] | Engraving Services [Member] | |||||
Net sales | 35,454 | 34,399 | 105,259 | 101,637 | |
Engraving Group [Member] | Engraving Products [Member] | |||||
Net sales | 1,455 | 2,824 | 4,363 | 7,400 | |
Scientific Group [Member] | |||||
Net sales | 18,898 | 18,914 | 56,646 | 65,079 | |
Scientific Group [Member] | Scientific Products and Services [Member] | |||||
Net sales | 18,898 | 18,914 | 56,646 | 65,079 | |
Engineering Technologies Group [Member] | |||||
Net sales | 18,052 | 20,890 | 59,244 | 56,558 | |
Engineering Technologies Group [Member] | Engineering Technologies Components [Member] | |||||
Net sales | 18,052 | 20,890 | 59,244 | 56,558 | |
Specialty Solutions Group [Member] | |||||
Net sales | 32,262 | 32,365 | 101,243 | 87,575 | |
Specialty Solutions Group [Member] | Hydraulics Cylinders and System [Member] | |||||
Net sales | 13,548 | 15,306 | 47,823 | 39,207 | |
Specialty Solutions Group [Member] | Merchandising & Display [Member] | |||||
Net sales | 13,203 | 8,438 | 32,160 | 23,548 | |
Specialty Solutions Group [Member] | Pumps [Member] | |||||
Net sales | $ 5,511 | $ 8,621 | $ 21,260 | $ 24,820 | |
[1]EMEA consists primarily of Europe, Middle East and S. Africa. |
Note 3 - Revenue From Contrac_4
Note 3 - Revenue From Contracts With Customers - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Contract assets | $ 24,679 | $ 15,013 | ||
Contract assets, additions | 49,682 | 35,091 | ||
Contract assets, deduction | 43,820 | 25,711 | ||
Contract assets | $ 30,541 | $ 24,393 | 30,541 | 24,393 |
Contract liabilities | 41 | 471 | ||
Contract liabilities, additions | 13,015 | 10,293 | ||
Contract liabilities, deductions | 12,750 | 10,721 | ||
Contract liabilities | 306 | 43 | 306 | 43 |
Amounts included in the contract liability balance at the beginning of the period | $ 38 | $ 252 | $ 41 | $ 471 |
Note 4 - Fair Value Measureme_3
Note 4 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Jun. 30, 2022 | Sep. 30, 2021 | Mar. 31, 2023 | Mar. 31, 2022 | |
Payment for Contingent Consideration Liability, Financing Activities | $ 1,167 | $ 1,167 | |||
Business Combination, Contingent Consideration, Liability, Total | $ 1,167 | ||||
GS Engineering [Member] | |||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 12,800 | ||||
Renco Electronics [Member] | |||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 3,500 | ||||
Payment for Contingent Consideration Liability, Financing Activities | $ 1,200 | $ 1,000 | $ 1,200 | ||
Business Combination, Contingent Consideration, Liability, Total | $ 3,400 |
Note 4 - Fair Value Measureme_4
Note 4 - Fair Value Measurements - Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Jun. 30, 2022 |
Interest rate swaps | $ 9,539 | $ 8,420 |
Foreign exchange contracts, assets | 1,064 | 122 |
Foreign exchange contracts | 711 | |
Business Combination, Contingent Consideration, Liability, Total | 1,167 | |
Fair Value, Inputs, Level 1 [Member] | ||
Interest rate swaps | 0 | 0 |
Foreign exchange contracts, assets | 0 | 0 |
Foreign exchange contracts | 0 | |
Business Combination, Contingent Consideration, Liability, Total | 0 | |
Fair Value, Inputs, Level 2 [Member] | ||
Interest rate swaps | 9,539 | 8,420 |
Foreign exchange contracts, assets | 1,064 | 122 |
Foreign exchange contracts | 711 | |
Business Combination, Contingent Consideration, Liability, Total | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Interest rate swaps | 0 | 0 |
Foreign exchange contracts, assets | 0 | 0 |
Foreign exchange contracts | 0 | |
Business Combination, Contingent Consideration, Liability, Total | 1,167 | |
Deferred Compensation Plan [Member] | ||
Marketable securities - deferred compensation plan | 3,629 | 3,033 |
Deferred Compensation Plan [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Marketable securities - deferred compensation plan | 3,629 | 3,033 |
Deferred Compensation Plan [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Marketable securities - deferred compensation plan | 0 | 0 |
Deferred Compensation Plan [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Marketable securities - deferred compensation plan | $ 0 | $ 0 |
Note 5 - Inventories (Details T
Note 5 - Inventories (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Selling Expense | $ 3.2 | $ 2.5 | $ 9.2 | $ 11.1 |
Note 5 - Inventories - Summary
Note 5 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Jun. 30, 2022 |
Raw materials | $ 50,037 | $ 56,321 |
Work in process | 21,092 | 20,592 |
Finished goods | 33,387 | 28,426 |
Total | $ 104,516 | $ 105,339 |
Note 6 - Goodwill - Changes to
Note 6 - Goodwill - Changes to Goodwill (Details) $ in Thousands | 9 Months Ended |
Mar. 31, 2023 USD ($) | |
Balance | $ 267,906 |
Goodwill, Other Increase (Decrease) | (246) |
Translation adjustment | 1,803 |
Balance | 269,463 |
Electronics Products Group [Member] | |
Balance | 136,969 |
Goodwill, Other Increase (Decrease) | 0 |
Translation adjustment | 1,420 |
Balance | 138,389 |
Engraving Group [Member] | |
Balance | 76,250 |
Goodwill, Other Increase (Decrease) | 0 |
Translation adjustment | 274 |
Balance | 76,524 |
Scientific Group [Member] | |
Balance | 15,454 |
Goodwill, Other Increase (Decrease) | 0 |
Translation adjustment | 0 |
Balance | 15,454 |
Engineering Technologies Group [Member] | |
Balance | 35,928 |
Goodwill, Other Increase (Decrease) | 0 |
Translation adjustment | 109 |
Balance | 36,037 |
Specialty Solutions Group [Member] | |
Balance | 3,305 |
Goodwill, Other Increase (Decrease) | (246) |
Translation adjustment | 0 |
Balance | $ 3,059 |
Note 7 - Warranty Reserves - Ch
Note 7 - Warranty Reserves - Changes in Warranty Reserve (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Jun. 30, 2022 | |
Balance at beginning of year | $ 1,918 | $ 2,086 |
Acquisitions and other charges | 12 | (29) |
Warranty expense | 1,033 | 1,083 |
Warranty claims | (1,197) | (1,222) |
Balance at end of period | $ 1,766 | $ 1,918 |
Note 8 - Debt (Details Textual)
Note 8 - Debt (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2019 | Mar. 31, 2023 | |
Amended and Restated Credit Agreement [Member] | ||
Debt Instrument, Term (Year) | 5 years | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 500 | |
Line Of Credit, Accordion Feature | 250 | |
Swing Line Loan [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 10 | |
Letter of Credit [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 35 | |
Standby Letters of Credit [Member] | ||
Long-Term Line of Credit | $ 3 | |
Line of Credit Facility, Remaining Borrowing Capacity | $ 343.7 |
Note 8 - Debt - Long-term Debt
Note 8 - Debt - Long-term Debt (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Jun. 30, 2022 |
Funded debt | $ 175,000 | $ 175,000 |
Issuance cost | (1,667) | (170) |
Total long-term debt | 173,333 | 174,830 |
Line of Credit [Member] | ||
Funded debt | $ 175,000 | $ 175,000 |
Note 9 - Accrued Liabilities -
Note 9 - Accrued Liabilities - Accrued Expenses (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Jun. 30, 2022 |
Payroll and employee benefits | $ 25,794 | $ 31,211 |
Litigation accrual | 0 | 5,745 |
Warranty reserves | 1,766 | 1,918 |
Fair value of derivatives | 1,064 | 0 |
Restructuring costs | 1,869 | 1,740 |
Workers' compensation | 1,354 | 1,664 |
Contingent consideration | 0 | 1,166 |
Other | 15,802 | 16,438 |
Total | 55,704 | 67,773 |
Accrued Expense [Member] | ||
Operating lease current liability | $ 8,055 | $ 7,891 |
Note 10 - Derivative Financia_3
Note 10 - Derivative Financial Instruments (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | |
Derivative Instruments, Loss Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing | $ 0 | $ 0 | |
Interest Rate Swap [Member] | |||
Derivative, Notional Amount | $ 175,000 | ||
Derivative, Average Fixed Interest Rate | 1.14% | ||
Foreign Exchange Forward [Member] | |||
Outstanding Forward Contracts, Net Unrealized Gain (Loss) | $ (1,100) | $ (600) |
Note 10 - Derivative Financia_4
Note 10 - Derivative Financial Instruments - Fair Value of Swaps Recognized in Accrued Liabilities and in Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Jun. 30, 2022 | |
Fair Value, Liability | $ 9,539 | $ 8,420 |
Interest Rate Swap Effective February 6, 2023 [Member] | ||
Notional Amount | $ 25,000 | |
Fixed Rate | 2.80% | |
Maturity | Aug. 06, 2023 | |
Fair Value, Liability | $ 185 | 48 |
Interest Rate Swaps Effective February 23, 2023 [Member] | ||
Notional Amount | $ 100,000 | |
Fixed Rate | 0.86% | |
Maturity | Mar. 23, 2025 | |
Fair Value, Liability | $ 6,157 | 5,538 |
Interest Rate Swap Effective April 24, 2020 [Member] | ||
Notional Amount | $ 25,000 | |
Fixed Rate | 0.88% | |
Maturity | Apr. 24, 2025 | |
Fair Value, Liability | $ 1,654 | 1,447 |
Interest Rate Swap Effective February 24, 2023 [Member] | ||
Notional Amount | $ 25,000 | |
Fixed Rate | 0.86% | |
Maturity | Mar. 24, 2025 | |
Fair Value, Liability | $ 1,543 | $ 1,387 |
Note 10 - Derivative Financia_5
Note 10 - Derivative Financial Instruments - Foreign Currency Exchange Contracts (Details) € in Thousands, $ in Millions, ¥ in Billions | Mar. 31, 2023 EUR (€) | Mar. 31, 2023 CAD ($) | Mar. 31, 2023 JPY (¥) | Jun. 30, 2022 EUR (€) | Jun. 30, 2022 CAD ($) | Jun. 30, 2022 JPY (¥) |
Foreign Exchange Contract [Member] | ||||||
EUR | € 0 | $ 16.6 | ¥ 2.1 | € 5,750 | $ 16.6 | ¥ 1 |
Note 10 - Derivative Financia_6
Note 10 - Derivative Financial Instruments - Amounts Reclassified From Accumulated Other Comprehensive Income (Loss) to Net Income (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Jun. 30, 2022 |
Derivative liability, fair value | $ 9,539 | $ 8,420 |
Designated as Hedging Instrument [Member] | ||
Derivative, fair value | 9,539 | 8,542 |
Derivative liability, fair value | 823 | 0 |
Prepaid Expenses and Other Current Assets [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | ||
Derivative, fair value | 9,539 | 8,420 |
Prepaid Expenses and Other Current Assets [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | ||
Derivative, fair value | 0 | 122 |
Accrued Liabilities [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | ||
Derivative liability, fair value | $ 823 | $ 0 |
Note 10 - Derivative Financia_7
Note 10 - Derivative Financial Instruments - Gain (Loss) Recognized in Comprehensive Income on Derivative Financial Instruments (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Change in unrealized gains (losses) | $ (568) | $ 5,828 | $ 3,229 | $ 7,890 |
Interest Rate Swap [Member] | ||||
Change in unrealized gains (losses) | (586) | 6,045 | 4,174 | 7,885 |
Foreign Exchange Contract [Member] | ||||
Change in unrealized gains (losses) | $ 18 | $ (217) | $ (945) | $ 5 |
Note 10 - Derivative Financia_8
Note 10 - Derivative Financial Instruments - Details About Accumulated Other Comprehensive Income (Loss) Components (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Accumulated other comprehensive income (loss) component | $ (1,475) | $ 764 | $ (1,939) | $ 2,587 |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | (1,475) | 764 | (1,939) | 2,587 |
Interest Rate Swap [Member] | Interest Expense [Member] | Cash Flow Hedging [Member] | ||||
Accumulated other comprehensive income (loss) component | (1,449) | 557 | (3,008) | 1,761 |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | (1,449) | 557 | (3,008) | 1,761 |
Foreign Exchange Contract [Member] | Other Nonoperating Income (Expense) [Member] | Cash Flow Hedging [Member] | ||||
Accumulated other comprehensive income (loss) component | (26) | 207 | 1,069 | 826 |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | $ (26) | $ 207 | $ 1,069 | $ 826 |
Note 11 - Retirement Benefits -
Note 11 - Retirement Benefits - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
UNITED STATES | ||||
Service cost | $ 0 | $ 1 | $ 0 | $ 3 |
Interest cost | 2,397 | 1,830 | 7,190 | 5,490 |
Expected return on plan assets | (2,993) | (3,260) | (8,980) | (9,779) |
Recognized net actuarial loss | 953 | 1,384 | 2,860 | 4,151 |
Amortization of prior service cost | 0 | 0 | 0 | 0 |
Net periodic benefit cost | 357 | (45) | 1,070 | (135) |
Foreign Plan [Member] | ||||
Service cost | 44 | 58 | 131 | 179 |
Interest cost | 249 | 193 | 774 | 576 |
Expected return on plan assets | (218) | (215) | (710) | (641) |
Recognized net actuarial loss | (13) | 84 | (44) | 253 |
Amortization of prior service cost | (1) | (1) | (3) | (3) |
Net periodic benefit cost | $ 61 | $ 119 | $ 148 | $ 364 |
Note 11 - Retirement Benefits_2
Note 11 - Retirement Benefits - Funded Status for US and Foreign Pension Plan (Details) - UNITED STATES - USD ($) $ in Thousands | Mar. 31, 2023 | Jun. 30, 2022 |
Prepaid benefit cost | $ 4,722 | $ 6,295 |
Current liabilities | (529) | (456) |
Non-current liabilities | (45,948) | (47,695) |
Net amount recognized | $ (41,755) | $ (41,856) |
Note 11 - Retirement Benefits_3
Note 11 - Retirement Benefits - Contributions to Defined Benefit Plans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Contributions to defined benefit plans | $ 49 | $ 52 | $ 151 | $ 157 |
Remaining contributions to be made | 288 | 288 | ||
UNITED STATES | Defined Benefit Plan, Funded Plan [Member] | ||||
Contributions to defined benefit plans | 0 | 0 | 0 | 0 |
Remaining contributions to be made | 0 | 0 | ||
UNITED STATES | Defined Benefit Plan, Unfunded Plan [Member] | ||||
Contributions to defined benefit plans | 49 | 52 | 151 | 157 |
Remaining contributions to be made | 49 | 49 | ||
UNITED KINGDOM | ||||
Contributions to defined benefit plans | 0 | 0 | 0 | 0 |
Remaining contributions to be made | 0 | 0 | ||
GERMANY | Defined Benefit Plan, Unfunded Plan [Member] | ||||
Contributions to defined benefit plans | $ 0 | 0 | $ 0 | 0 |
Remaining contributions to be made | $ 239 | $ 239 |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Effective Income Tax Rate Reconciliation, Percent | 6.70% | 24% | 13% | 24.50% |
Note 13 - Earnings Per Share (D
Note 13 - Earnings Per Share (Details Textual) - shares | 9 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Share-Based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 0 | 0 |
Performance Stock Units [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 132,217 | 142,170 |
Note 13 - Earnings Per Share -
Note 13 - Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Basic (in shares) | 11,811 | 11,982 | 11,825 | 12,009 |
Dilutive effect of unvested, restricted stock awards (in shares) | 84 | 107 | 92 | 112 |
Diluted - Average shares outstanding (in shares) | 11,895 | 12,089 | 11,917 | 12,121 |
Note 14 - Accumulated Other C_3
Note 14 - Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Jun. 30, 2022 |
Foreign currency translation adjustment | $ (64,095) | $ (67,679) |
Unrealized pension losses, net of tax | (91,096) | (92,641) |
Unrealized gains (losses) on derivative instruments, net of tax | 8,016 | 7,008 |
Total | $ (147,175) | $ (153,312) |
Note 15 - Contingencies (Detail
Note 15 - Contingencies (Details Textual) $ in Millions | Mar. 31, 2023 USD ($) |
Lawsuit Filed Against Electronics [Member] | |
Loss Contingency Accrual, Ending Balance | $ 5.7 |
Note 16 - Industry Segment In_3
Note 16 - Industry Segment Information (Details Textual) | 9 Months Ended |
Mar. 31, 2023 | |
Number of Reportable Segments | 5 |
Note 16 - Industry Segment In_4
Note 16 - Industry Segment Information - Net Sales and Income (Loss) by Industry Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 184,332 | $ 189,281 | $ 552,721 | $ 550,600 |
Income from operations | 88,517 | 24,470 | 142,613 | 69,071 |
Restructuring costs | (2,237) | (1,186) | (3,330) | (2,469) |
Gain (Loss) on Disposition of Business | 62,105 | 0 | 62,105 | 0 |
Acquisition related costs | (21) | (419) | (487) | (1,561) |
Other operating income (expense), net | 727 | 0 | 611 | (1,700) |
Interest expense | 1,415 | 1,238 | 4,168 | 4,484 |
Other non-operating (income) expense | 747 | 340 | 1,695 | 651 |
Income from continuing operations before income taxes | 86,355 | 22,892 | 136,750 | 63,936 |
Electronics Products Group [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 78,211 | 79,889 | 225,966 | 232,351 |
Income from operations | 17,047 | 19,194 | 52,160 | 54,624 |
Restructuring costs | (603) | (506) | (1,099) | (596) |
Engraving Group [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 36,909 | 37,223 | 109,622 | 109,037 |
Income from operations | 5,353 | 5,728 | 17,580 | 15,806 |
Restructuring costs | (302) | (528) | (899) | (1,511) |
Scientific Group [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 18,898 | 18,914 | 56,646 | 65,079 |
Income from operations | 4,561 | 4,155 | 12,449 | 14,153 |
Engineering Technologies Group [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 18,052 | 20,890 | 59,244 | 56,558 |
Income from operations | 2,351 | 2,327 | 7,957 | 5,540 |
Restructuring costs | (103) | (244) | ||
Specialty Solutions Group [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 32,262 | 32,365 | 101,243 | 87,575 |
Income from operations | 7,151 | 3,632 | 18,944 | 10,185 |
Restructuring costs | 0 | (64) | ||
Corporate and Other [Member] | ||||
Income from operations | $ (8,520) | $ (8,961) | $ (25,376) | $ (25,507) |
Note 17 - Restructuring (Detail
Note 17 - Restructuring (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Jun. 30, 2023 | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Restructuring Costs | $ 2,237 | $ 1,186 | $ 3,330 | $ 2,469 | |
Forecast [Member] | |||||
Restructuring Costs | $ 800 |
Note 17 - Restructuring - Summa
Note 17 - Restructuring - Summary of Severance, Restructuring, and Related Charges by Initiative (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Current year initiatives | $ 2,237 | $ 1,186 | $ 3,330 | $ 2,469 |
Involuntary Employee Severance And Benefit Costs [Member] | ||||
Current year initiatives | 1,547 | 966 | 2,083 | 1,637 |
Other Restructuring [Member] | ||||
Current year initiatives | 690 | 220 | 1,247 | 832 |
Current Year Restructuring Initiatives [Member] | ||||
Current year initiatives | 1,528 | 1,186 | 1,856 | 2,469 |
Current Year Restructuring Initiatives [Member] | Involuntary Employee Severance And Benefit Costs [Member] | ||||
Current year initiatives | 1,460 | 966 | 1,671 | 1,637 |
Current Year Restructuring Initiatives [Member] | Other Restructuring [Member] | ||||
Current year initiatives | 68 | 220 | 185 | 832 |
Prior Year Initiatives [Member] | ||||
Current year initiatives | 709 | 0 | 1,474 | 0 |
Prior Year Initiatives [Member] | Involuntary Employee Severance And Benefit Costs [Member] | ||||
Current year initiatives | 87 | 0 | 412 | 0 |
Prior Year Initiatives [Member] | Other Restructuring [Member] | ||||
Current year initiatives | $ 622 | $ 0 | $ 1,062 | $ 0 |
Note 17 - Restructuring - Sum_2
Note 17 - Restructuring - Summary of Activity in Reserves Related to Restructuring Initiatives (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Restructuring liabilities | $ 1,740 | |
Restructuring liabilities | 1,869 | |
Current Year Restructuring Initiatives [Member] | ||
Restructuring liabilities | 0 | |
Additions and adjustments | 1,856 | |
Payments | (524) | |
Restructuring liabilities | 1,332 | |
Current Year Restructuring Initiatives [Member] | Involuntary Employee Severance And Benefit Costs [Member] | ||
Restructuring liabilities | 0 | |
Additions and adjustments | 1,671 | |
Payments | (339) | |
Restructuring liabilities | 1,332 | |
Current Year Restructuring Initiatives [Member] | Other Restructuring [Member] | ||
Restructuring liabilities | 0 | |
Additions and adjustments | 185 | |
Payments | (185) | |
Restructuring liabilities | 0 | |
Prior Year Initiatives [Member] | ||
Restructuring liabilities | 1,740 | $ 49 |
Additions and adjustments | 1,474 | 2,469 |
Payments | (2,677) | (1,874) |
Restructuring liabilities | 537 | 644 |
Prior Year Initiatives [Member] | Involuntary Employee Severance And Benefit Costs [Member] | ||
Restructuring liabilities | 1,045 | 39 |
Additions and adjustments | 412 | 1,637 |
Payments | (1,210) | (1,099) |
Restructuring liabilities | 247 | 577 |
Prior Year Initiatives [Member] | Other Restructuring [Member] | ||
Restructuring liabilities | 695 | 10 |
Additions and adjustments | 1,062 | 832 |
Payments | (1,467) | (775) |
Restructuring liabilities | $ 290 | $ 67 |
Note 17 - Restructuring - Sum_3
Note 17 - Restructuring - Summary of Restructuring Expenses by Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Restructuring charges | $ 2,237 | $ 1,186 | $ 3,330 | $ 2,469 |
Electronics Products Group [Member] | ||||
Restructuring charges | 603 | 506 | 1,099 | 596 |
Engraving Group [Member] | ||||
Restructuring charges | 302 | 528 | 899 | 1,511 |
Corporate Segment [Member] | ||||
Restructuring charges | 1,332 | 49 | 1,332 | 54 |
Engineering Technologies Group [Member] | ||||
Restructuring charges | 103 | 244 | ||
Specialty Solutions Group [Member] | ||||
Restructuring charges | 0 | 64 | ||
Involuntary Employee Severance And Benefit Costs [Member] | ||||
Restructuring charges | 1,547 | 966 | 2,083 | 1,637 |
Involuntary Employee Severance And Benefit Costs [Member] | Electronics Products Group [Member] | ||||
Restructuring charges | 58 | 441 | 214 | 513 |
Involuntary Employee Severance And Benefit Costs [Member] | Engraving Group [Member] | ||||
Restructuring charges | 157 | 379 | 537 | 832 |
Involuntary Employee Severance And Benefit Costs [Member] | Corporate Segment [Member] | ||||
Restructuring charges | 1,332 | 49 | 1,332 | 54 |
Involuntary Employee Severance And Benefit Costs [Member] | Engineering Technologies Group [Member] | ||||
Restructuring charges | 97 | 238 | ||
Involuntary Employee Severance And Benefit Costs [Member] | Specialty Solutions Group [Member] | ||||
Restructuring charges | 0 | 0 | ||
Other Restructuring [Member] | ||||
Restructuring charges | 690 | 220 | 1,247 | 832 |
Other Restructuring [Member] | Electronics Products Group [Member] | ||||
Restructuring charges | 545 | 65 | 885 | 83 |
Other Restructuring [Member] | Engraving Group [Member] | ||||
Restructuring charges | 145 | 149 | 362 | 679 |
Other Restructuring [Member] | Corporate Segment [Member] | ||||
Restructuring charges | $ 0 | 0 | $ 0 | 0 |
Other Restructuring [Member] | Engineering Technologies Group [Member] | ||||
Restructuring charges | 6 | 6 | ||
Other Restructuring [Member] | Specialty Solutions Group [Member] | ||||
Restructuring charges | $ 0 | $ 64 |
Note 18 - Divestitures (Details
Note 18 - Divestitures (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Feb. 28, 2023 | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 184,332 | $ 189,281 | $ 552,721 | $ 550,600 | |
Proceeds from Divestiture of Businesses | 67,023 | 0 | |||
Gain (Loss) on Disposition of Business | 62,105 | 0 | 62,105 | 0 | |
Goodwill, Other Increase (Decrease) | (246) | ||||
Procon Pumps Business [Member] | Discontinued Operations, Disposed of by Sale [Member] | |||||
Proceeds from Divestiture of Businesses | 67,000 | ||||
Gain (Loss) on Disposition of Business | 62,100 | ||||
Specialty Solutions Group [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | $ 32,262 | $ 32,365 | 101,243 | $ 87,575 | |
Goodwill, Other Increase (Decrease) | $ (246) | ||||
Specialty Solutions Group [Member] | Procon Pumps Business [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | $ 21,200 |