Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Dec. 31, 2023 | Jan. 31, 2024 | |
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 | Q2 | |
Document Fiscal Year Focus | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Dec. 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 $1.50 Per Share | |
Trading Symbol | SXI | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 11,870,622 |
Unaudited Condensed Consolidate
Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 142,424 | $ 195,706 |
Accounts receivable, less allowance for credit losses of $2,753 and $2,788 at December 31, 2023 and June 30, 2023, respectively | 125,575 | 123,440 |
Inventories | 98,592 | 98,537 |
Prepaid expenses and other current assets | 65,572 | 64,739 |
Income taxes receivable | 3,836 | 831 |
Total current assets | 435,999 | 483,253 |
Property, plant, and equipment, net | 132,599 | 130,937 |
Intangible assets, net | 82,726 | 75,651 |
Goodwill | 280,337 | 264,821 |
Deferred tax asset | 14,027 | 14,602 |
Operating lease right-of-use asset | 34,026 | 33,273 |
Other non-current assets | 25,347 | 22,392 |
Total non-current assets | 569,062 | 541,676 |
Total assets | 1,005,061 | 1,024,929 |
Current liabilities: | ||
Accounts payable | 63,883 | 68,601 |
Accrued liabilities | 56,062 | 62,031 |
Income taxes payable | 10,597 | 10,335 |
Total current liabilities | 130,542 | 140,967 |
Long-term debt | 148,659 | 173,441 |
Operating lease long-term liabilities | 26,080 | 25,774 |
Accrued pension and other non-current liabilities | 79,209 | 77,298 |
Total non-current liabilities | 253,948 | 276,513 |
Contingencies (Note 15) | ||
Stockholders' equity: | ||
Common stock, par value $1.50 per share, 60,000,000 shares authorized, 27,984,278 shares issued, 11,783,199 and 11,744,991 shares outstanding at December 31, 2023 and June 30, 2023 | 41,976 | 41,976 |
Additional paid-in capital | 101,198 | 100,555 |
Retained earnings | 1,058,069 | 1,027,279 |
Accumulated other comprehensive loss | (155,561) | (158,477) |
Treasury shares: 16,201,079 and 16,239,287 shares at December 31, 2023 and June 30, 2023 | (425,111) | (403,884) |
Total stockholders' equity | 620,571 | 607,449 |
Total liabilities and stockholders' equity | $ 1,005,061 | $ 1,024,929 |
Unaudited Condensed Consolida_2
Unaudited Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 |
Reserve for doubtful accounts | $ 2,753 | $ 2,788 |
Common stock, par value (in dollars per share) | $ 1.5 | $ 1.5 |
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) | 11,783,199 | 11,744,991 |
Treasury stock, shares (in shares) | 16,201,079 | 16,239,287 |
Unaudited Condensed Consolida_3
Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Net sales | $ 178,400 | $ 187,789 | $ 363,174 | $ 368,389 |
Cost of sales | 106,737 | 115,469 | 218,876 | 227,816 |
Gross profit | 71,663 | 72,320 | 144,298 | 140,573 |
Selling, general, and administrative expenses | 43,276 | 43,713 | 86,861 | 84,802 |
Gain on sale of business | 0 | 0 | (274) | 0 |
Restructuring costs | 1,360 | 511 | 3,266 | 1,093 |
Acquisition related costs | 1,195 | 174 | 1,696 | 466 |
Other operating (income) expense, net | 0 | 116 | 0 | 116 |
Total operating expenses | 45,831 | 44,514 | 91,549 | 86,477 |
Income from operations | 25,832 | 27,806 | 52,749 | 54,096 |
Interest expense | 1,019 | 1,566 | 2,295 | 2,753 |
Other non-operating (income) expense, net | 332 | (70) | 1,178 | 948 |
Income from continuing operations before income taxes | 24,481 | 26,310 | 49,276 | 50,395 |
Provision for income taxes | 5,409 | 6,226 | 11,312 | 11,995 |
Income from continuing operations | 19,072 | 20,084 | 37,964 | 38,400 |
Income (loss) from discontinued operations, net of tax | (201) | (41) | (279) | (87) |
Net income | $ 18,871 | $ 20,043 | $ 37,685 | $ 38,313 |
Basic earnings (loss) per share: | ||||
Continuing operations (in dollars per share) | $ 1.62 | $ 1.69 | $ 3.22 | $ 3.25 |
Discontinued operations (in dollars per share) | (0.02) | 0 | (0.02) | (0.01) |
Total (in dollars per share) | 1.6 | 1.69 | 3.2 | 3.24 |
Diluted earnings (loss) per share: | ||||
Continuing operations (in dollars per share) | 1.61 | 1.69 | 3.19 | 3.22 |
Discontinued operations (in dollars per share) | (0.02) | 0 | (0.02) | (0.01) |
Total (in dollars per share) | $ 1.59 | $ 1.69 | $ 3.17 | $ 3.21 |
Weighted average number of shares: | ||||
Basic (in shares) | 11,791 | 11,852 | 11,762 | 11,833 |
Diluted (in shares) | 11,858 | 11,917 | 11,891 | 11,930 |
Unaudited Condensed Consolida_4
Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Net income | $ 18,871 | $ 20,043 | $ 37,685 | $ 38,313 |
Other comprehensive income (loss): | ||||
Actuarial gains (losses) and other changes in unrecognized costs, net of tax | (133) | (82) | (12) | 14 |
Amortization of unrecognized costs, net of tax | 597 | 710 | 1,193 | 1,420 |
Derivative instruments: | ||||
Change in unrealized gains (losses), net of tax | (675) | (170) | 110 | 2,627 |
Amortization of unrealized gains (losses) into interest expense, net of tax | (1,280) | (234) | (2,781) | (80) |
Foreign currency translation gains (losses), net of tax | 13,506 | 23,649 | 4,406 | 2,105 |
Other comprehensive income (loss), net of tax | 12,015 | 23,873 | 2,916 | 6,086 |
Comprehensive income | $ 30,886 | $ 43,916 | $ 40,601 | $ 44,399 |
Unaudited Condensed Consolida_5
Unaudited Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ 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, 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 | (2,540) | 0 | 0 | $ 3,534 | 994 |
Stock issued under incentive compensation plans and employee purchase plans (in shares) | (147) | |||||
Stock-based compensation | 0 | 4,699 | 0 | 0 | $ 0 | 4,699 |
Treasury stock acquired | 0 | 0 | 0 | 0 | $ (13,517) | (13,517) |
Treasury stock acquired (in shares) | 140 | |||||
Net income | 0 | 0 | 38,313 | 0 | $ 0 | 38,313 |
Foreign currency translation adjustment | 0 | 0 | 0 | 2,105 | 0 | 2,105 |
Pension, net of tax | 0 | 0 | 0 | 1,434 | 0 | 1,434 |
Change in fair value of derivatives, net of tax | 0 | 0 | 0 | 2,547 | 0 | 2,547 |
Dividends declared | 0 | 0 | (6,501) | 0 | 0 | (6,501) |
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 Sep. 30, 2022 | 41,976 | 91,446 | 916,549 | (171,099) | $ (387,182) | 491,690 |
Balance (in shares) at Sep. 30, 2022 | 16,119 | |||||
Stock issued under incentive compensation plans and employee purchase plans | 0 | (222) | 0 | 0 | $ 380 | 158 |
Stock issued under incentive compensation plans and employee purchase plans (in shares) | (16) | |||||
Stock-based compensation | 0 | 2,135 | 0 | 0 | $ 0 | 2,135 |
Treasury stock acquired | 0 | 0 | 0 | 0 | $ (5,123) | (5,123) |
Treasury stock acquired (in shares) | 50 | |||||
Net income | 0 | 0 | 20,043 | 0 | $ 0 | 20,043 |
Foreign currency translation adjustment | 0 | 0 | 23,649 | 0 | 23,649 | |
Pension, net of tax | 0 | 0 | 0 | 628 | 0 | 628 |
Change in fair value of derivatives, net of tax | 0 | 0 | 0 | (404) | 0 | (404) |
Dividends declared | 0 | 0 | (3,359) | 0 | 0 | (3,359) |
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, 2023 | 41,976 | 100,555 | 1,027,279 | (158,477) | $ (403,884) | 607,449 |
Balance (in shares) at Jun. 30, 2023 | 16,239 | |||||
Stock issued under incentive compensation plans and employee purchase plans | 0 | (4,181) | 0 | 0 | $ 5,370 | 1,189 |
Stock issued under incentive compensation plans and employee purchase plans (in shares) | (210) | |||||
Stock-based compensation | 0 | 4,824 | 0 | 0 | $ 0 | 4,824 |
Treasury stock acquired | 0 | 0 | 0 | 0 | $ (26,597) | (26,597) |
Treasury stock acquired (in shares) | 172 | |||||
Net income | 0 | 0 | 37,685 | 0 | $ 0 | 37,685 |
Foreign currency translation adjustment | 0 | 0 | 0 | 4,406 | 0 | 4,406 |
Pension, net of tax | 0 | 0 | 0 | 1,181 | 0 | 1,181 |
Change in fair value of derivatives, net of tax | 0 | 0 | 0 | (2,671) | 0 | (2,671) |
Dividends declared | 0 | 0 | (6,895) | 0 | 0 | (6,895) |
Balance at Dec. 31, 2023 | 41,976 | 101,198 | 1,058,069 | (155,561) | $ (425,111) | 620,571 |
Balance (in shares) at Dec. 31, 2023 | 16,201 | |||||
Balance at Sep. 30, 2023 | 41,976 | 98,713 | 1,042,695 | (167,576) | $ (421,169) | 594,639 |
Balance (in shares) at Sep. 30, 2023 | 16,189 | |||||
Stock issued under incentive compensation plans and employee purchase plans | 0 | (145) | 0 | 0 | $ 567 | 422 |
Stock issued under incentive compensation plans and employee purchase plans (in shares) | (22) | |||||
Stock-based compensation | 0 | 2,630 | 0 | 0 | $ 0 | 2,630 |
Treasury stock acquired | 0 | 0 | 0 | 0 | $ (4,509) | (4,509) |
Treasury stock acquired (in shares) | 34 | |||||
Net income | 0 | 0 | 18,871 | 0 | $ 0 | 18,871 |
Foreign currency translation adjustment | 0 | 0 | 0 | 13,506 | 0 | 13,506 |
Pension, net of tax | 0 | 0 | 0 | 464 | 0 | 464 |
Change in fair value of derivatives, net of tax | 0 | 0 | 0 | (1,955) | 0 | (1,955) |
Dividends declared | 0 | 0 | (3,497) | 0 | 0 | (3,497) |
Balance at Dec. 31, 2023 | $ 41,976 | $ 101,198 | $ 1,058,069 | $ (155,561) | $ (425,111) | $ 620,571 |
Balance (in shares) at Dec. 31, 2023 | 16,201 |
Unaudited Condensed Consolida_6
Unaudited Condensed Consolidated Statements of Stockholders' Equity (Parentheticals) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Pension and OPEB adjustments, tax | $ 0.2 | $ 0.2 | $ 0.4 | $ 0.5 |
Change in fair value of derivatives, tax | $ 0.7 | $ 0.1 | $ 0.9 | $ 0.8 |
Dividends declared, per share (in dollars per share) | $ 0.3 | $ 0.28 | $ 0.58 | $ 0.54 |
Unaudited Condensed Consolida_7
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2023 | |
Cash flows from operating activities | |||||
Net income | $ 18,871 | $ 20,043 | $ 37,685 | $ 38,313 | |
Income (loss) from discontinued operations | (201) | (41) | (279) | (87) | |
Income from continuing operations | 19,072 | 20,084 | 37,964 | 38,400 | |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||||
Depreciation and amortization | 13,969 | 13,966 | |||
Stock-based compensation | 4,824 | 4,699 | |||
Non-cash portion of restructuring charge | 346 | (1,183) | |||
Gain on sale of business | 0 | 0 | (274) | 0 | |
Contributions to defined benefit plans | (1,541) | (101) | |||
Changes in operating assets and liabilities, net | (15,121) | (28,690) | |||
Net cash provided by (used in) operating activities - continuing operations | 40,167 | 27,091 | |||
Net cash provided by (used in) operating activities - discontinued operations | (422) | (51) | |||
Net cash provided by (used in) operating activities | 39,745 | 27,040 | |||
Cash flows from investing activities | |||||
Expenditures for property, plant, and equipment | (8,587) | (11,028) | |||
Proceeds from sale of business | 274 | 0 | |||
Expenditures for acquisitions, net of cash acquired | (29,229) | 0 | |||
Other investing activity | 0 | 98 | |||
Net cash provided by (used in) investing activities | (37,542) | (10,930) | |||
Cash flows from financing activities | |||||
Proceeds from borrowings | 0 | 28,500 | |||
Payments of debt | (25,000) | (16,000) | |||
Contingent consideration payment | 0 | (1,167) | |||
Activity under share-based payment plans | 1,189 | 994 | |||
Purchases of treasury stock | (26,650) | (13,517) | |||
Cash dividends paid | (6,840) | (6,399) | |||
Net cash provided by (used in) financing activities | (57,301) | (7,589) | |||
Effect of exchange rate changes on cash and cash equivalents | 1,816 | 129 | |||
Net change in cash and cash equivalents | (53,282) | 8,650 | |||
Cash and cash equivalents at beginning of year | 195,706 | 104,844 | $ 104,844 | ||
Cash and cash equivalents at end of period | $ 142,424 | $ 113,494 | 142,424 | 113,494 | $ 195,706 |
Supplemental Disclosure of Cash Flow Information: | |||||
Interest | 2,222 | 2,225 | |||
Income taxes, net of refunds | $ 14,010 | $ 12,822 |
Note 1 - Management Statement
Note 1 - Management Statement | 6 Months Ended |
Dec. 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 six December 31, 2023 2022 six December 31, 2023 2022 December 31, 2023 not not not June 30, 2023 June 30, 2023 not 10 June 30, 2023 June 30. 2024 twelve July 1, 2023 June 30, 2024. The preparation of consolidated financial statements in conformity with GAAP requires the use of estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities at the date of the financial statements and for the period then ended. Estimates are based on historical experience, actuarial estimates, current conditions and various other assumptions that are believed to be reasonable under the circumstances. These estimates form the basis for making judgments about the carrying values of assets and liabilities when they are not may not December 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. Research and development expenditures are expensed as incurred. Total research and development costs, which are classified under selling, general, and administrative expenses, were $5.1 million and $4.1 million for the three December 31, 2023 2022 six December 31, 2023 2022 Recently Issued Accounting Pronouncements From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies that the Company adopts as of the specified effective date. Unless otherwise discussed below, the Company does not may In November 2023, 2023 07, 280 2023 07" 2023 07 December 15, 2023, December 15, 2024. 2025. not In December 2023, 2023 09, 740 December 15, 2024. 2026. |
Note 2 - Acquisitions
Note 2 - Acquisitions | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 2 At the time of the acquisition and December 31, 2023 On November 1, 2023, third 2024, Minntronix On July 31, 2023, 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 Minntronix's technical and applications expertise, which is highly complementary to the Company's existing business. Identifiable intangible assets of $10.7 million consist primarily of $3.2 million for indefinite lived tradenames and $7.5 million of customer relationships to be amortized over 15 years. The goodwill of $13.9 million created by the transaction is not The components of the fair value of the Minntronix acquisition, including the preliminary allocation of the purchase price are as follows (in thousands): Preliminary Allocation December 31, 2023 Fair value of business combination: Cash payments $ 33,890 Less, cash acquired (4,661 ) Total $ 29,229 Preliminary Allocation December 31, 2023 Identifiable assets acquired and liabilities assumed: Other acquired assets $ 8,282 Customer backlog 1,120 Inventories 1,780 Property, plant, & equipment 1,039 Identifiable intangible assets 10,700 Goodwill 13,889 Liabilities assumed (7,581 ) Total $ 29,229 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 December 31, 2023 2022 six December 31, 2023 2022 |
Note 3 - Revenue From Contracts
Note 3 - Revenue From Contracts With Customers | 6 Months Ended |
Dec. 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 December 31, 2023 December 31, 2022 Electronics $ 79,419 $ 72,556 Engraving Services 38,467 36,221 Engraving Products 2,378 1,468 Total Engraving 40,845 37,689 Scientific 16,292 19,292 Engineering Technologies 19,887 24,193 Hydraulics Cylinders and Systems 11,881 17,538 Merchandising & Display 10,076 9,392 Pumps - 7,129 Total Specialty Solutions 21,957 34,059 Total revenue by product line $ 178,400 $ 187,789 Six Months Ended Revenue by Product Line December 31, 2023 December 31, 2022 Electronics $ 161,107 $ 147,755 Engraving Services 77,203 69,805 Engraving Products 4,436 2,908 Total Engraving 81,639 72,713 Scientific 34,485 37,748 Engineering Technologies 38,107 41,192 Hydraulics Cylinders and Systems 26,610 34,275 Merchandising & Display 21,226 18,957 Pumps - 15,749 Total Specialty Solutions 47,836 68,981 Total revenue by product line $ 363,174 $ 368,389 The following table presents revenue from continuing operations disaggregated by geography based on company’s locations (in thousands): Three Months Ended Three Months Ended Six Months Ended Six Months Ended Net sales December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 United States $ 110,167 $ 116,303 $ 224,668 $ 226,462 Asia Pacific 32,742 33,861 64,151 66,654 EMEA (1) 31,632 33,401 66,100 67,326 Other Americas 3,859 4,224 8,255 7,947 Total $ 178,400 $ 187,789 $ 363,174 $ 368,389 ( 1 The following table presents revenue from continuing operations disaggregated by timing of recognition (in thousands): Three Months Ended Timing of Revenue Recognition December 31, 2023 December 31, 2022 Products and services transferred at a point in time $ 160,204 $ 165,728 Products transferred over time 18,196 22,061 Net sales $ 178,400 $ 187,789 Six Months Ended Timing of Revenue Recognition December 31, 2023 December 31, 2022 Products and services transferred at a point in time $ 327,429 $ 331,421 Products transferred over time 35,745 36,968 Net sales $ 363,174 $ 368,389 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 Six months ended December 31, 2023 Contract assets: Prepaid expenses and other current assets $ 31,138 $ 33,565 $ 30,201 $ 34,502 Balance at Beginning of Period Additions Deductions Balance at End of Period Six months ended December 31, 2022 Contract assets: Prepaid expenses and other current assets $ 24,679 $ 33,017 $ 26,681 $ 31,015 Contract liabilities: Customer deposits 41 - 41 - We recognized the following revenue which was included in the contract liability beginning balances (in thousands): There was no 2024. December 31, 2022 December 31, 2022 Revenue recognized in the period from: Three months ended Six months ended Amounts included in the contract liability balance at the beginning of the period $ 38 $ 41 |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurements | 6 Months Ended |
Dec. 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 December 31, 2023 June 30, 2023 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): December 31, 2023 Total Level 1 Level 2 Level 3 Assets Marketable securities - deferred compensation plan $ 4,431 $ 4,431 $ - $ - Foreign exchange contracts 601 - 601 - Interest rate swaps 6,677 - 6,677 - Debt securities 2,760 - - 2,760 Equity securities 2,070 - - 2,070 Liabilities Foreign exchange contracts $ - $ - $ - $ - June 30, 2023 Total Level 1 Level 2 Level 3 Assets Marketable securities - deferred compensation plan $ 3,720 $ 3,720 $ - $ - Interest rate swaps 10,235 - 10,235 - Debt securities 2,729 - - 2,729 Equity securities 2,046 - - 2,046 Liabilities Foreign exchange contracts $ 1,722 $ - $ 1,722 $ - 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 fourth 2020, 2021, 2022 2023, December 31, 2023 2024. 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 Additionally, the Company has financial assets based upon Level 3 The Company invested $2.1 million for equity securities of a company whose securities are not not not The Company also purchased $2.8 million of debt securities from the same privately held company. The available for sale asset was recorded as a current asset in the prepaid expenses and other current assets line of the consolidated balance sheet to reflect the initial fair value of the instrument acquired. This asset will mature one There have been no 3 2024 The Company updates 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 | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 5 Inventories from continuing operations are comprised of the following (in thousands): December 31, 2023 June 30, 2023 Raw materials $ 47,521 $ 45,268 Work in process 18,065 20,389 Finished goods 33,006 32,880 Total $ 98,592 $ 98,537 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 $2.9 million and $3.1 million for the three December 31, 2023 2022 six December 31, 2023 2022 |
Note 6 - Goodwill
Note 6 - Goodwill | 6 Months Ended |
Dec. 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, 2023 Acquisitions Translation Adjustment December 31, 2023 Electronics $ 133,432 $ 13,889 $ 1,504 $ 148,825 Engraving 76,583 - 100 76,683 Scientific 15,454 - - 15,454 Engineering Technologies 36,293 - 23 36,316 Specialty Solutions 3,059 - - 3,059 Total $ 264,821 $ 13,889 $ 1,627 $ 280,337 |
Note 7 - Warranty Reserves
Note 7 - Warranty Reserves | 6 Months Ended |
Dec. 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): December 31, 2023 June 30, 2023 Balance at beginning of year $ 2,094 $ 1,918 Acquisitions and other charges 92 - Warranty expense 1,139 1,939 Warranty claims (894 ) (1,763 ) Balance at end of period $ 2,431 $ 2,094 |
Note 8 - Debt
Note 8 - Debt | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 8 Debt Long-term debt is comprised of the following (in thousands): December 31, 2023 June 30, 2023 Bank credit agreements $ 150,000 $ 175,000 Total funded debt 150,000 175,000 Issuance cost (1,341 ) (1,559 ) Total long-term debt $ 148,659 $ 173,441 Bank Credit Agreements During the third 2023, five At December 31, 2023 may December 31, 2023 December 31, 2023 |
Note 9 - Accrued Liabilities
Note 9 - Accrued Liabilities | 6 Months Ended |
Dec. 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): December 31, 2023 June 30, 2023 Payroll and employee benefits $ 22,764 $ 30,778 Operating lease current liability 8,701 8,036 Warranty reserves 2,431 2,094 Restructuring costs 1,642 1,296 Workers' compensation 1,598 1,516 Fair value of derivatives - 1,722 Other 18,926 16,589 Total $ 56,062 $ 62,031 |
Note 10 - Derivative Financial
Note 10 - Derivative Financial Instruments | 6 Months Ended |
Dec. 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 $150 million of debt due under our revolving credit agreement from a variable rate equal to 1 December 31, 2023 Effective Date Notional Amount Fixed Interest Rate Maturity December 31, 2023 June 30, 2023 February 6, 2023 25,000 2.80% August 6, 2023 $ - $ 59 February 23, 2023 100,000 0.86% March 23, 2025 4,394 6,716 April 24, 2020 25,000 0.88% April 24, 2025 1,181 1,777 February 24, 2023 25,000 0.86% March 24, 2025 1,102 1,683 $ 6,677 $ 10,235 The Company reported no losses for the three six December 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 December 31, 2023 June 30, 2023 2024, The notional amounts of the Company’s forward contracts, by currency, are as follows (in thousands): Currency December 31, 2023 June 30, 2023 CAD - 16,600 JPY 4,200,000 2,100,000 The table below presents the fair value of derivative financial instruments as well as their classification on the balance sheet (in thousands): Asset Derivatives December 31, 2023 June 30, 2023 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 $ 6,677 Prepaid expenses and other current assets $ 10,235 $ 6,677 $ 10,235 Liability Derivatives December 31, 2023 June 30, 2023 Derivative designated Balance Balance as hedging instruments Sheet Sheet Line Item Fair Value Line Item Fair Value Foreign exchange contracts Accrued liabilities $ - Accrued liabilities $ 315 $ - $ 315 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 Six Months Ended December 31, December 31, 2023 2022 2023 2022 Interest rate swaps $ (903 ) $ 535 $ (275 ) $ 4,760 Foreign exchange contracts - (574 ) 315 (963 ) $ (903 ) $ (39 ) $ 40 $ 3,797 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 Six Months Ended in the Unaudited Income (Loss) Components December 31, December 31, Condensed Statements 2023 2022 2023 2022 of Operations Interest rate swaps $ (1,713 ) $ (1,105 ) $ (3,433 ) $ (1,559 ) Interest expense Foreign exchange contracts - 599 (215 ) 1,095 Other non-operating (income) expense, net $ (1,713 ) $ (506 ) $ (3,648 ) $ (464 ) |
Note 11 - Retirement Benefits
Note 11 - Retirement Benefits | 6 Months Ended |
Dec. 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. 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 December 31, December 31, 2023 2022 2023 2022 Service cost $ - $ - $ 40 $ 43 Interest cost 2,473 2,396 292 263 Expected return on plan assets (2,779 ) (2,994 ) (346 ) (247 ) Recognized net actuarial loss 951 954 (150 ) (16 ) Amortization of prior service cost - - (1 ) (1 ) Net periodic (benefit) cost $ 645 $ 356 $ (165 ) $ 42 U.S. Plans Non-U.S. Plans Six Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Service cost $ - $ - $ 81 $ 87 Interest cost 4,946 4,793 589 525 Expected return on plan assets (5,558 ) (5,987 ) (699 ) (492 ) Recognized net actuarial loss 1,902 1,907 (302 ) (31 ) Amortization of prior service cost - - (2 ) (2 ) Net periodic (benefit) cost $ 1,290 $ 713 $ (333 ) $ 87 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: December 31, 2023 June 30, 2023 Prepaid benefit cost $ 3,019 $ 2,807 Current liabilities (502 ) (425 ) Non-current liabilities (46,054 ) (48,154 ) Net amount recognized $ (43,537 ) $ (45,772 ) The contributions made to defined benefit plans are presented below along with remaining contributions to be made for fiscal year 2024 Fiscal Year 2024 Remaining Six Months Ended Contributions Contributions to defined benefit plans December 31, 2023 FY 2024 United States, funded plan $ 1,442 $ 8,363 United States, unfunded plan 99 53 United Kingdom - - Germany, unfunded plan - 255 $ 1,541 $ 8,671 |
Note 12 - Income Taxes
Note 12 - Income Taxes | 6 Months Ended |
Dec. 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 second 2024 six December 31, 2023 The tax rate was impacted in the current period by the following items: (i) a discrete tax benefit related to equity compensation, (ii) the jurisdictional mix of earnings; (iii) foreign withholding taxes, and (iv) federal research and development tax credits. The tax rate was impacted in the prior period by the following items: (i) a discrete tax benefit related to equity compensation, (ii) the jurisdictional mix of earnings and (iii) foreign withholding taxes. |
Note 13 - Earnings Per Share
Note 13 - Earnings Per Share | 6 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 13 Earnings Per Share The Company uses shares acquired through treasury stock repurchases for the issuance of shares of common stock for the settlement of awards under its stock-based compensation plans, with the net effect of these transactions accounting for the change in common stock outstanding. 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 Six Months Ended December 31, December 31, 2023 2022 2023 2022 Basic - Average shares outstanding 11,791 11,852 11,762 11,833 Dilutive effect of unvested, restricted stock awards 67 65 129 97 Diluted - Average shares outstanding 11,858 11,917 11,891 11,930 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 December 31, 2023 2022 Performance stock units of 89,434 and 132,217 for the six December 31, 2023 2022 not |
Note 14 - Accumulated Other Com
Note 14 - Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Dec. 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): December 31, 2023 June 30, 2023 Foreign currency translation adjustment $ (69,967 ) $ (74,373 ) Unrealized pension losses, net of tax (91,580 ) (92,761 ) Unrealized gains (losses) on derivative instruments, net of tax 5,986 8,657 Total $ (155,561 ) $ (158,477 ) |
Note 15 - Contingencies
Note 15 - Contingencies | 6 Months Ended |
Dec. 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 |
Note 16 - Industry Segment Info
Note 16 - Industry Segment Information | 6 Months Ended |
Dec. 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 December 31, Net Sales Income from Operations 2023 2022 2023 2022 Industry segment: Electronics $ 79,419 $ 72,556 $ 15,850 $ 16,972 Engraving 40,845 37,689 8,910 6,373 Scientific 16,292 19,292 4,248 4,165 Engineering Technologies 19,887 24,193 3,405 3,741 Specialty Solutions 21,957 34,059 3,965 5,716 Corporate - - (7,991 ) (8,360 ) Restructuring costs - - (1,360 ) (511 ) Gain on sale of business - - - - Acquisition related costs - - (1,195 ) (174 ) Other operating income (expense), net - - - (116 ) Sub-total $ 178,400 $ 187,789 $ 25,832 $ 27,806 Interest expense 1,019 1,566 Other non-operating (income) expense 332 (70 ) Income from continuing operations before income taxes $ 24,481 $ 26,310 Six Months Ended December 31, Net Sales Income from Operations 2023 2022 2023 2022 Industry segment: Electronics $ 161,107 $ 147,755 $ 32,184 $ 35,113 Engraving 81,639 72,713 16,505 12,227 Scientific 34,485 37,748 9,178 7,888 Engineering Technologies 38,107 41,192 6,422 5,606 Specialty Solutions 47,836 68,981 9,582 11,793 Corporate - - (16,434 ) (16,856 ) Restructuring costs - - (3,266 ) (1,093 ) Gain on sale of business - - 274 - Acquisition related costs - - (1,696 ) (466 ) Other operating income (expense), net - - - (116 ) Sub-total $ 363,174 $ 368,389 $ 52,749 $ 54,096 Interest expense 2,295 2,753 Other non-operating (income) expense 1,178 948 Income from continuing operations before income taxes $ 49,276 $ 50,395 Net sales include only transactions with unaffiliated customers and include no |
Note 17 - Restructuring
Note 17 - Restructuring | 6 Months Ended |
Dec. 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. 2024 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 2024 2025. Prior Year Restructuring Initiatives Restructuring expenses primarily related to headcount reductions and facility rationalization within our Engraving and Electronics segments. The Company also incurred restructuring expenses related to third 2024. A summary of charges by initiative is as follows (in thousands): Three Months Ended Six Months Ended December 31, 2023 December 31, 2023 Fiscal Year 2024 Involuntary Employee Severance and Benefit Costs Other Total Involuntary Employee Severance and Benefit Costs Other Total Current year initiatives $ 359 $ 907 $ 1,266 $ 1,786 $ 1,252 $ 3,038 Prior year initiatives 56 38 94 182 46 228 $ 415 $ 945 $ 1,360 $ 1,968 $ 1,298 $ 3,266 Three Months Ended Six Months Ended December 31, 2022 December 31, 2022 Fiscal Year 2023 Involuntary Employee Severance and Benefit Costs Other Total Involuntary Employee Severance and Benefit Costs Other Total Current year initiatives $ 117 $ 74 $ 191 $ 211 $ 117 $ 328 Prior year initiatives 217 103 320 468 297 765 $ 334 $ 177 $ 511 $ 679 $ 414 $ 1,093 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, 2023 $ - $ - $ - Additions and adjustments 1,786 1,252 3,038 Payments (843 ) (1,029 ) (1,872 ) Restructuring liabilities at December 31, 2023 $ 943 $ 223 $ 1,166 Prior Year Initiatives Involuntary Employee Severance and Benefit Costs Other Total Restructuring liabilities at June 30, 2023 $ 1,104 $ 192 $ 1,296 Additions and adjustments 182 46 228 Payments (985 ) (63 ) (1,048 ) Restructuring liabilities at December 31, 2023 $ 301 $ 175 $ 476 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 679 414 1,093 Payments (1,577 ) (699 ) (2,276 ) Restructuring liabilities at December 31, 2022 $ 147 $ 410 $ 557 The Company’s total restructuring expenses by segment are as follows (in thousands): Three Months Ended Six Months Ended December 31, 2023 December 31, 2023 Involuntary Employee Severance and Benefit Costs Other Total Involuntary Employee Severance and Benefit Costs Other Total Electronics $ 347 $ 408 $ 755 $ 591 $ 439 $ 1,030 Engraving 43 537 580 836 859 1,695 Engineering Technologies 13 - 13 55 - 55 Corporate 12 - 12 486 - 486 $ 415 $ 945 $ 1,360 $ 1,968 $ 1,298 $ 3,266 Three Months Ended Six Months Ended December 31, 2022 December 31, 2022 Involuntary Employee Severance and Benefit Costs Other Total Involuntary Employee Severance and Benefit Costs Other Total Electronics $ 168 $ 83 $ 251 $ 299 $ 197 $ 496 Engraving 166 94 260 380 217 597 $ 334 $ 177 $ 511 $ 679 $ 414 $ 1,093 Restructuring expense is expected to be approximately $3.5 million for the remainder of fiscal year 2024. |
Note 18 - Divestitures
Note 18 - Divestitures | 6 Months Ended |
Dec. 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 in fiscal year 2023. 2023. 2023. During the first 2024, . |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended | 6 Months Ended |
Dec. 31, 2023 | Dec. 31, 2023 | |
Insider Trading Arr Line Items | ||
Material Terms of Trading Arrangement [Text Block] | 5. None 10b5 1 10b5 1 408 December 31, 2023. | |
Rule 10b5-1 Arrangement Terminated [Flag] | false | |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false | |
Rule 10b5-1 Arrangement Adopted [Flag] | false | |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Note 2 - Acquisitions (Tables)
Note 2 - Acquisitions (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Renco Electronics [Member] | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Preliminary Allocation December 31, 2023 Identifiable assets acquired and liabilities assumed: Other acquired assets $ 8,282 Customer backlog 1,120 Inventories 1,780 Property, plant, & equipment 1,039 Identifiable intangible assets 10,700 Goodwill 13,889 Liabilities assumed (7,581 ) Total $ 29,229 |
Sensor Solutions [Member] | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Preliminary Allocation December 31, 2023 Fair value of business combination: Cash payments $ 33,890 Less, cash acquired (4,661 ) Total $ 29,229 |
Note 3 - Revenue From Contrac_2
Note 3 - Revenue From Contracts With Customers (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended Revenue by Product Line December 31, 2023 December 31, 2022 Electronics $ 79,419 $ 72,556 Engraving Services 38,467 36,221 Engraving Products 2,378 1,468 Total Engraving 40,845 37,689 Scientific 16,292 19,292 Engineering Technologies 19,887 24,193 Hydraulics Cylinders and Systems 11,881 17,538 Merchandising & Display 10,076 9,392 Pumps - 7,129 Total Specialty Solutions 21,957 34,059 Total revenue by product line $ 178,400 $ 187,789 Six Months Ended Revenue by Product Line December 31, 2023 December 31, 2022 Electronics $ 161,107 $ 147,755 Engraving Services 77,203 69,805 Engraving Products 4,436 2,908 Total Engraving 81,639 72,713 Scientific 34,485 37,748 Engineering Technologies 38,107 41,192 Hydraulics Cylinders and Systems 26,610 34,275 Merchandising & Display 21,226 18,957 Pumps - 15,749 Total Specialty Solutions 47,836 68,981 Total revenue by product line $ 363,174 $ 368,389 Three Months Ended Three Months Ended Six Months Ended Six Months Ended Net sales December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 United States $ 110,167 $ 116,303 $ 224,668 $ 226,462 Asia Pacific 32,742 33,861 64,151 66,654 EMEA (1) 31,632 33,401 66,100 67,326 Other Americas 3,859 4,224 8,255 7,947 Total $ 178,400 $ 187,789 $ 363,174 $ 368,389 Three Months Ended Timing of Revenue Recognition December 31, 2023 December 31, 2022 Products and services transferred at a point in time $ 160,204 $ 165,728 Products transferred over time 18,196 22,061 Net sales $ 178,400 $ 187,789 Six Months Ended Timing of Revenue Recognition December 31, 2023 December 31, 2022 Products and services transferred at a point in time $ 327,429 $ 331,421 Products transferred over time 35,745 36,968 Net sales $ 363,174 $ 368,389 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | Balance at Beginning of Period Additions Deductions Balance at End of Period Six months ended December 31, 2023 Contract assets: Prepaid expenses and other current assets $ 31,138 $ 33,565 $ 30,201 $ 34,502 Balance at Beginning of Period Additions Deductions Balance at End of Period Six months ended December 31, 2022 Contract assets: Prepaid expenses and other current assets $ 24,679 $ 33,017 $ 26,681 $ 31,015 Contract liabilities: Customer deposits 41 - 41 - December 31, 2022 December 31, 2022 Revenue recognized in the period from: Three months ended Six months ended Amounts included in the contract liability balance at the beginning of the period $ 38 $ 41 |
Note 4 - Fair Value Measureme_2
Note 4 - Fair Value Measurements (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | December 31, 2023 Total Level 1 Level 2 Level 3 Assets Marketable securities - deferred compensation plan $ 4,431 $ 4,431 $ - $ - Foreign exchange contracts 601 - 601 - Interest rate swaps 6,677 - 6,677 - Debt securities 2,760 - - 2,760 Equity securities 2,070 - - 2,070 Liabilities Foreign exchange contracts $ - $ - $ - $ - June 30, 2023 Total Level 1 Level 2 Level 3 Assets Marketable securities - deferred compensation plan $ 3,720 $ 3,720 $ - $ - Interest rate swaps 10,235 - 10,235 - Debt securities 2,729 - - 2,729 Equity securities 2,046 - - 2,046 Liabilities Foreign exchange contracts $ 1,722 $ - $ 1,722 $ - |
Note 5 - Inventories (Tables)
Note 5 - Inventories (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, 2023 June 30, 2023 Raw materials $ 47,521 $ 45,268 Work in process 18,065 20,389 Finished goods 33,006 32,880 Total $ 98,592 $ 98,537 |
Note 6 - Goodwill (Tables)
Note 6 - Goodwill (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | June 30, 2023 Acquisitions Translation Adjustment December 31, 2023 Electronics $ 133,432 $ 13,889 $ 1,504 $ 148,825 Engraving 76,583 - 100 76,683 Scientific 15,454 - - 15,454 Engineering Technologies 36,293 - 23 36,316 Specialty Solutions 3,059 - - 3,059 Total $ 264,821 $ 13,889 $ 1,627 $ 280,337 |
Note 7 - Warranty Reserves (Tab
Note 7 - Warranty Reserves (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Product Warranty Liability [Table Text Block] | December 31, 2023 June 30, 2023 Balance at beginning of year $ 2,094 $ 1,918 Acquisitions and other charges 92 - Warranty expense 1,139 1,939 Warranty claims (894 ) (1,763 ) Balance at end of period $ 2,431 $ 2,094 |
Note 8 - Debt (Tables)
Note 8 - Debt (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Long-Term Debt Instruments [Table Text Block] | December 31, 2023 June 30, 2023 Bank credit agreements $ 150,000 $ 175,000 Total funded debt 150,000 175,000 Issuance cost (1,341 ) (1,559 ) Total long-term debt $ 148,659 $ 173,441 |
Note 9 - Accrued Liabilities (T
Note 9 - Accrued Liabilities (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | December 31, 2023 June 30, 2023 Payroll and employee benefits $ 22,764 $ 30,778 Operating lease current liability 8,701 8,036 Warranty reserves 2,431 2,094 Restructuring costs 1,642 1,296 Workers' compensation 1,598 1,516 Fair value of derivatives - 1,722 Other 18,926 16,589 Total $ 56,062 $ 62,031 |
Note 10 - Derivative Financia_2
Note 10 - Derivative Financial Instruments (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Interest Rate Derivatives [Table Text Block] | Effective Date Notional Amount Fixed Interest Rate Maturity December 31, 2023 June 30, 2023 February 6, 2023 25,000 2.80% August 6, 2023 $ - $ 59 February 23, 2023 100,000 0.86% March 23, 2025 4,394 6,716 April 24, 2020 25,000 0.88% April 24, 2025 1,181 1,777 February 24, 2023 25,000 0.86% March 24, 2025 1,102 1,683 $ 6,677 $ 10,235 |
Schedule of Foreign Exchange Contracts, Statement of Financial Position [Table Text Block] | Currency December 31, 2023 June 30, 2023 CAD - 16,600 JPY 4,200,000 2,100,000 |
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] | Asset Derivatives December 31, 2023 June 30, 2023 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 $ 6,677 Prepaid expenses and other current assets $ 10,235 $ 6,677 $ 10,235 Liability Derivatives December 31, 2023 June 30, 2023 Derivative designated Balance Balance as hedging instruments Sheet Sheet Line Item Fair Value Line Item Fair Value Foreign exchange contracts Accrued liabilities $ - Accrued liabilities $ 315 $ - $ 315 |
Derivative Instruments, Gain (Loss) [Table Text Block] | Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Interest rate swaps $ (903 ) $ 535 $ (275 ) $ 4,760 Foreign exchange contracts - (574 ) 315 (963 ) $ (903 ) $ (39 ) $ 40 $ 3,797 |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Details about Accumulated Affected line item Other Comprehensive Three Months Ended Six Months Ended in the Unaudited Income (Loss) Components December 31, December 31, Condensed Statements 2023 2022 2023 2022 of Operations Interest rate swaps $ (1,713 ) $ (1,105 ) $ (3,433 ) $ (1,559 ) Interest expense Foreign exchange contracts - 599 (215 ) 1,095 Other non-operating (income) expense, net $ (1,713 ) $ (506 ) $ (3,648 ) $ (464 ) |
Note 11 - Retirement Benefits (
Note 11 - Retirement Benefits (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Defined Benefit Plan Contributions [Table Text Block] | Fiscal Year 2024 Remaining Six Months Ended Contributions Contributions to defined benefit plans December 31, 2023 FY 2024 United States, funded plan $ 1,442 $ 8,363 United States, unfunded plan 99 53 United Kingdom - - Germany, unfunded plan - 255 $ 1,541 $ 8,671 |
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 December 31, December 31, 2023 2022 2023 2022 Service cost $ - $ - $ 40 $ 43 Interest cost 2,473 2,396 292 263 Expected return on plan assets (2,779 ) (2,994 ) (346 ) (247 ) Recognized net actuarial loss 951 954 (150 ) (16 ) Amortization of prior service cost - - (1 ) (1 ) Net periodic (benefit) cost $ 645 $ 356 $ (165 ) $ 42 U.S. Plans Non-U.S. Plans Six Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Service cost $ - $ - $ 81 $ 87 Interest cost 4,946 4,793 589 525 Expected return on plan assets (5,558 ) (5,987 ) (699 ) (492 ) Recognized net actuarial loss 1,902 1,907 (302 ) (31 ) Amortization of prior service cost - - (2 ) (2 ) Net periodic (benefit) cost $ 1,290 $ 713 $ (333 ) $ 87 |
Schedule of Net Funded Status [Table Text Block] | Amounts recognized in the consolidated balance sheets consist of: December 31, 2023 June 30, 2023 Prepaid benefit cost $ 3,019 $ 2,807 Current liabilities (502 ) (425 ) Non-current liabilities (46,054 ) (48,154 ) Net amount recognized $ (43,537 ) $ (45,772 ) |
Note 13 - Earnings Per Share (T
Note 13 - Earnings Per Share (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Six Months Ended December 31, December 31, 2023 2022 2023 2022 Basic - Average shares outstanding 11,791 11,852 11,762 11,833 Dilutive effect of unvested, restricted stock awards 67 65 129 97 Diluted - Average shares outstanding 11,858 11,917 11,891 11,930 |
Note 14 - Accumulated Other C_2
Note 14 - Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | December 31, 2023 June 30, 2023 Foreign currency translation adjustment $ (69,967 ) $ (74,373 ) Unrealized pension losses, net of tax (91,580 ) (92,761 ) Unrealized gains (losses) on derivative instruments, net of tax 5,986 8,657 Total $ (155,561 ) $ (158,477 ) |
Note 16 - Industry Segment In_2
Note 16 - Industry Segment Information (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | Three Months Ended December 31, Net Sales Income from Operations 2023 2022 2023 2022 Industry segment: Electronics $ 79,419 $ 72,556 $ 15,850 $ 16,972 Engraving 40,845 37,689 8,910 6,373 Scientific 16,292 19,292 4,248 4,165 Engineering Technologies 19,887 24,193 3,405 3,741 Specialty Solutions 21,957 34,059 3,965 5,716 Corporate - - (7,991 ) (8,360 ) Restructuring costs - - (1,360 ) (511 ) Gain on sale of business - - - - Acquisition related costs - - (1,195 ) (174 ) Other operating income (expense), net - - - (116 ) Sub-total $ 178,400 $ 187,789 $ 25,832 $ 27,806 Interest expense 1,019 1,566 Other non-operating (income) expense 332 (70 ) Income from continuing operations before income taxes $ 24,481 $ 26,310 Six Months Ended December 31, Net Sales Income from Operations 2023 2022 2023 2022 Industry segment: Electronics $ 161,107 $ 147,755 $ 32,184 $ 35,113 Engraving 81,639 72,713 16,505 12,227 Scientific 34,485 37,748 9,178 7,888 Engineering Technologies 38,107 41,192 6,422 5,606 Specialty Solutions 47,836 68,981 9,582 11,793 Corporate - - (16,434 ) (16,856 ) Restructuring costs - - (3,266 ) (1,093 ) Gain on sale of business - - 274 - Acquisition related costs - - (1,696 ) (466 ) Other operating income (expense), net - - - (116 ) Sub-total $ 363,174 $ 368,389 $ 52,749 $ 54,096 Interest expense 2,295 2,753 Other non-operating (income) expense 1,178 948 Income from continuing operations before income taxes $ 49,276 $ 50,395 |
Note 17 - Restructuring (Tables
Note 17 - Restructuring (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Restructuring and Related Costs [Table Text Block] | Three Months Ended Six Months Ended December 31, 2023 December 31, 2023 Fiscal Year 2024 Involuntary Employee Severance and Benefit Costs Other Total Involuntary Employee Severance and Benefit Costs Other Total Current year initiatives $ 359 $ 907 $ 1,266 $ 1,786 $ 1,252 $ 3,038 Prior year initiatives 56 38 94 182 46 228 $ 415 $ 945 $ 1,360 $ 1,968 $ 1,298 $ 3,266 Three Months Ended Six Months Ended December 31, 2022 December 31, 2022 Fiscal Year 2023 Involuntary Employee Severance and Benefit Costs Other Total Involuntary Employee Severance and Benefit Costs Other Total Current year initiatives $ 117 $ 74 $ 191 $ 211 $ 117 $ 328 Prior year initiatives 217 103 320 468 297 765 $ 334 $ 177 $ 511 $ 679 $ 414 $ 1,093 |
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, 2023 $ - $ - $ - Additions and adjustments 1,786 1,252 3,038 Payments (843 ) (1,029 ) (1,872 ) Restructuring liabilities at December 31, 2023 $ 943 $ 223 $ 1,166 Prior Year Initiatives Involuntary Employee Severance and Benefit Costs Other Total Restructuring liabilities at June 30, 2023 $ 1,104 $ 192 $ 1,296 Additions and adjustments 182 46 228 Payments (985 ) (63 ) (1,048 ) Restructuring liabilities at December 31, 2023 $ 301 $ 175 $ 476 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 679 414 1,093 Payments (1,577 ) (699 ) (2,276 ) Restructuring liabilities at December 31, 2022 $ 147 $ 410 $ 557 |
Restructuring Expenses By Segment [Table Text Block] | Three Months Ended Six Months Ended December 31, 2023 December 31, 2023 Involuntary Employee Severance and Benefit Costs Other Total Involuntary Employee Severance and Benefit Costs Other Total Electronics $ 347 $ 408 $ 755 $ 591 $ 439 $ 1,030 Engraving 43 537 580 836 859 1,695 Engineering Technologies 13 - 13 55 - 55 Corporate 12 - 12 486 - 486 $ 415 $ 945 $ 1,360 $ 1,968 $ 1,298 $ 3,266 Three Months Ended Six Months Ended December 31, 2022 December 31, 2022 Involuntary Employee Severance and Benefit Costs Other Total Involuntary Employee Severance and Benefit Costs Other Total Electronics $ 168 $ 83 $ 251 $ 299 $ 197 $ 496 Engraving 166 94 260 380 217 597 $ 334 $ 177 $ 511 $ 679 $ 414 $ 1,093 |
Note 1 - Management Statement (
Note 1 - Management Statement (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Selling, General and Administrative Expenses [Member] | ||||
Research and Development Expense | $ 5.1 | $ 4.1 | $ 10.4 | $ 7.3 |
Note 2 - Acquisitions (Details
Note 2 - Acquisitions (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jul. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2023 | |
Payments to Acquire Businesses, Net of Cash Acquired | $ 29,229 | $ 0 | ||||
Goodwill | $ 280,337 | 280,337 | $ 264,821 | |||
Business Combination, Acquisition Related Costs | 1,195 | $ 174 | 1,696 | $ 466 | ||
Minntronixs [Member] | ||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 29,200 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 10,700 | 10,700 | ||||
Goodwill | 13,900 | 13,900 | ||||
Minntronixs [Member] | Customer-Related Intangible Assets [Member] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 7,500 | $ 7,500 | ||||
Finite-Lived Intangible Asset, Useful Life (Year) | 15 years | 15 years | ||||
Minntronixs [Member] | Trademarks [Member] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | $ 3,200 | $ 3,200 |
Note 2 - Acquisitions - Compone
Note 2 - Acquisitions - Components of Fair Value of Acquisitions and Allocation of Purchase Price For Acquisition of Sensor Solutions (Details) - Sensor Solutions [Member] $ in Thousands | 6 Months Ended |
Dec. 31, 2023 USD ($) | |
Cash payments | $ 33,890 |
Less, cash acquired | (4,661) |
Total | $ 29,229 |
Note 2 - Acquisitions - Compo_2
Note 2 - Acquisitions - Components of Fair Value of Acquisitions and Allocation of Purchase Price For Acquisition of Renco (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Dec. 31, 2023 | Jun. 30, 2023 | |
Goodwill | $ 280,337 | $ 264,821 |
Renco Electronics [Member] | ||
Other acquired assets | 8,282 | |
Customer backlog | 1,120 | |
Inventories | 1,780 | |
Property, plant, & equipment | 1,039 | |
Identifiable intangible assets | 10,700 | |
Goodwill | 13,889 | |
Liabilities assumed | (7,581) | |
Total | $ 29,229 |
Note 3 - Revenue From Contrac_3
Note 3 - Revenue From Contracts With Customers - Revenue Disaggregated (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | ||
Net sales | $ 178,400 | $ 187,789 | $ 363,174 | $ 368,389 | |
Transferred at Point in Time [Member] | |||||
Net sales | 160,204 | 165,728 | 327,429 | 331,421 | |
Transferred over Time [Member] | |||||
Net sales | 18,196 | 22,061 | 35,745 | 36,968 | |
UNITED STATES | |||||
Net sales | 110,167 | 116,303 | 224,668 | 226,462 | |
Asia Pacific [Member] | |||||
Net sales | 32,742 | 33,861 | 64,151 | 66,654 | |
EMEA [Member] | |||||
Net sales | [1] | 31,632 | 33,401 | 66,100 | 67,326 |
Other Americas [Member] | |||||
Net sales | 3,859 | 4,224 | 8,255 | 7,947 | |
Electronics Products Group [Member] | |||||
Net sales | 79,419 | 72,556 | 161,107 | 147,755 | |
Engraving Group [Member] | |||||
Net sales | 40,845 | 37,689 | 81,639 | 72,713 | |
Engraving Group [Member] | Engraving Services [Member] | |||||
Net sales | 38,467 | 36,221 | 77,203 | 69,805 | |
Engraving Group [Member] | Engraving Products [Member] | |||||
Net sales | 2,378 | 1,468 | 4,436 | 2,908 | |
Scientific Group [Member] | |||||
Net sales | 16,292 | 19,292 | 34,485 | 37,748 | |
Scientific Group [Member] | Scientific Products and Services [Member] | |||||
Net sales | 16,292 | 19,292 | 34,485 | 37,748 | |
Engineering Technologies Group [Member] | |||||
Net sales | 19,887 | 24,193 | 38,107 | 41,192 | |
Engineering Technologies Group [Member] | Engineering Technologies Components [Member] | |||||
Net sales | 19,887 | 24,193 | 38,107 | 41,192 | |
Specialty Solutions Group [Member] | |||||
Net sales | 21,957 | 34,059 | 47,836 | 68,981 | |
Specialty Solutions Group [Member] | Hydraulics Cylinders and System [Member] | |||||
Net sales | 11,881 | 17,538 | 26,610 | 34,275 | |
Specialty Solutions Group [Member] | Merchandising & Display [Member] | |||||
Net sales | 10,076 | 9,392 | 21,226 | 18,957 | |
Specialty Solutions Group [Member] | Pumps [Member] | |||||
Net sales | $ 0 | $ 7,129 | $ 0 | $ 15,749 | |
[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 | 6 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Contract assets | $ 31,138 | $ 24,679 |
Contract assets, additions | 33,565 | 33,017 |
Contract assets, deduction | 30,201 | 26,681 |
Contract assets | 34,502 | 31,015 |
Contract liabilities | 41 | |
Contract liabilities, additions | 0 | |
Contract liabilities, deductions | 41 | |
Contract liabilities | 0 | |
Amounts included in the contract liability balance at the beginning of the period | $ 38 | $ 41 |
Note 4 - Fair Value Measureme_3
Note 4 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 |
Equity Securities without Readily Determinable Fair Value, Amount | $ 2,100 | |
Debt Securities, Available-for-Sale | 2,760 | $ 2,729 |
GS Engineering [Member] | ||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 12,800 |
Note 4 - Fair Value Measureme_4
Note 4 - Fair Value Measurements - Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 |
Foreign exchange contracts | $ 601 | |
Interest rate swaps | 6,677 | $ 10,235 |
Debt Securities, Available-for-Sale | 2,760 | 2,729 |
Equity securities | 2,070 | 2,046 |
Foreign exchange contracts | 0 | 1,722 |
Fair Value, Inputs, Level 1 [Member] | ||
Foreign exchange contracts | 0 | |
Interest rate swaps | 0 | 0 |
Debt Securities, Available-for-Sale | 0 | 0 |
Equity securities | 0 | 0 |
Foreign exchange contracts | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Foreign exchange contracts | 601 | |
Interest rate swaps | 6,677 | 10,235 |
Debt Securities, Available-for-Sale | 0 | 0 |
Equity securities | 0 | 0 |
Foreign exchange contracts | 0 | 1,722 |
Fair Value, Inputs, Level 3 [Member] | ||
Foreign exchange contracts | 0 | |
Interest rate swaps | 0 | 0 |
Debt Securities, Available-for-Sale | 2,760 | 2,729 |
Equity securities | 2,070 | 2,046 |
Foreign exchange contracts | 0 | 0 |
Deferred Compensation Plan [Member] | ||
Marketable securities - deferred compensation plan | 4,431 | 3,720 |
Deferred Compensation Plan [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Marketable securities - deferred compensation plan | 4,431 | 3,720 |
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 | 6 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Selling Expense | $ 2.9 | $ 3.1 | $ 6.1 | $ 6 |
Note 5 - Inventories - Summary
Note 5 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 |
Raw materials | $ 47,521 | $ 45,268 |
Work in process | 18,065 | 20,389 |
Finished goods | 33,006 | 32,880 |
Total | $ 98,592 | $ 98,537 |
Note 6 - Goodwill - Changes to
Note 6 - Goodwill - Changes to Goodwill (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Dec. 30, 2023 | Jun. 30, 2023 | |
Balance | $ 264,821 | |
Goodwill, Other Increase (Decrease) | 13,889 | |
Impairments | 1,627 | |
Translation adjustment | 280,337 | |
Electronics Products Group [Member] | ||
Balance | 133,432 | |
Goodwill, Other Increase (Decrease) | 13,889 | |
Impairments | 1,504 | |
Translation adjustment | 148,825 | |
Engraving Group [Member] | ||
Balance | 76,583 | |
Goodwill, Other Increase (Decrease) | 0 | |
Impairments | 100 | |
Translation adjustment | 76,683 | |
Scientific Group [Member] | ||
Balance | 15,454 | |
Goodwill, Other Increase (Decrease) | 0 | |
Impairments | 0 | |
Translation adjustment | 15,454 | |
Engineering Technologies Group [Member] | ||
Balance | 36,293 | |
Goodwill, Other Increase (Decrease) | 0 | |
Impairments | 23 | |
Translation adjustment | 36,316 | |
Specialty Solutions Group [Member] | ||
Balance | 3,059 | |
Goodwill, Other Increase (Decrease) | 0 | $ (200) |
Impairments | 0 | |
Translation adjustment | $ 3,059 |
Note 7 - Warranty Reserves - Ch
Note 7 - Warranty Reserves - Changes in Warranty Reserve (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Dec. 31, 2023 | Jun. 30, 2023 | |
Balance at beginning of year | $ 2,094 | $ 1,918 |
Acquisitions and other charges | 92 | 0 |
Warranty expense | 1,139 | 1,939 |
Warranty claims | (894) | (1,763) |
Balance at end of period | $ 2,431 | $ 2,094 |
Note 8 - Debt (Details Textual)
Note 8 - Debt (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2019 | Dec. 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 | $ 2.9 | |
Line of Credit Facility, Remaining Borrowing Capacity | $ 347.1 |
Note 8 - Debt - Long-term Debt
Note 8 - Debt - Long-term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 |
Funded debt | $ 150,000 | $ 175,000 |
Issuance cost | (1,341) | (1,559) |
Total long-term debt | 148,659 | 173,441 |
Line of Credit [Member] | ||
Funded debt | $ 150,000 | $ 175,000 |
Note 9 - Accrued Liabilities -
Note 9 - Accrued Liabilities - Accrued Expenses (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 |
Payroll and employee benefits | $ 22,764 | $ 30,778 |
Warranty reserves | 2,431 | 2,094 |
Restructuring costs | 1,642 | 1,296 |
Workers' compensation | 1,598 | 1,516 |
Fair value of derivatives | 0 | 1,722 |
Other | 18,926 | 16,589 |
Total | 56,062 | 62,031 |
Accrued Expense [Member] | ||
Operating lease current liability | $ 8,701 | $ 8,036 |
Note 10 - Derivative Financia_3
Note 10 - Derivative Financial Instruments (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2023 | Jun. 30, 2023 | |
Derivative Instruments, Loss Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing | $ 0 | $ 0 | |
Interest Rate Swap [Member] | |||
Derivative, Notional Amount | $ 150,000 | $ 150,000 | |
Derivative, Average Fixed Interest Rate | 0.85% | 0.85% | |
Foreign Exchange Forward [Member] | |||
Outstanding Forward Contracts, Net Unrealized Gain (Loss) | $ 100 | $ 100 | $ (1,700) |
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 | 12 Months Ended | |
Dec. 31, 2023 | Jun. 30, 2023 | |
Interest Rate Swap Effective February 6, 2023 [Member] | ||
Notional Amount | $ 25,000 | |
Fixed Rate | 2.80% | |
Maturity | Aug. 06, 2023 | |
Fair Value, Liability | $ 0 | $ 59 |
Interest Rate Swaps Effective February 23, 2023 [Member] | ||
Notional Amount | $ 100,000 | |
Fixed Rate | 0.86% | |
Maturity | Mar. 23, 2025 | |
Fair Value, Liability | $ 4,394 | 6,716 |
Interest Rate Swap Effective April 24, 2020 [Member] | ||
Notional Amount | $ 25,000 | |
Fixed Rate | 0.88% | |
Fair Value, Liability | $ 1,181 | 1,777 |
Interest Rate Swap Effective February 24, 2023 [Member] | ||
Notional Amount | $ 25,000 | |
Fixed Rate | 0.86% | |
Maturity | Mar. 24, 2025 | |
Fair Value, Liability | $ 1,102 | 1,683 |
Interest Rate Swaps Effective May 25, 2023 [Member] | ||
Notional Amount | ||
Fair Value, Liability | $ 6,677 | $ 10,235 |
Note 10 - Derivative Financia_5
Note 10 - Derivative Financial Instruments - Foreign Currency Exchange Contracts (Details) $ in Thousands, ¥ in Billions | Dec. 31, 2023 CAD ($) | Dec. 31, 2023 JPY (¥) | Jun. 30, 2023 CAD ($) | Jun. 30, 2023 JPY (¥) |
Foreign Exchange Contract [Member] | ||||
Derivative, Notional Amount | $ 0 | ¥ 4.2 | $ 16,600 | ¥ 2.1 |
Note 10 - Derivative Financia_6
Note 10 - Derivative Financial Instruments - Amounts Reclassified From Accumulated Other Comprehensive Income (Loss) to Net Income (Details) - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 30, 2023 | Jun. 30, 2023 |
Derivative, fair value | $ 6,677 | $ 10,235 | |
Derivative liability, fair value | $ 0 | 315 | |
Prepaid Expenses and Other Current Assets [Member] | Interest Rate Swap [Member] | |||
Derivative, fair value | $ 6,677 | 10,235 | |
Accrued Liabilities [Member] | Foreign Exchange Contract [Member] | |||
Derivative liability, fair value | $ 0 | $ 315 |
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 | 6 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Change in unrealized gains (losses) | $ (903) | $ (39) | $ 40 | $ 3,797 |
Interest Rate Swap [Member] | ||||
Change in unrealized gains (losses) | (903) | 535 | (275) | 4,760 |
Foreign Exchange Contract [Member] | ||||
Change in unrealized gains (losses) | $ 0 | $ (574) | $ 315 | $ (963) |
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 | 6 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Accumulated other comprehensive income (loss) component | $ (1,713) | $ (506) | $ (3,648) | $ (464) |
Interest Rate Swap [Member] | Interest Expense [Member] | Cash Flow Hedging [Member] | ||||
Accumulated other comprehensive income (loss) component | (1,713) | (1,105) | (3,433) | (1,559) |
Foreign Exchange Contract [Member] | Other Nonoperating Income (Expense) [Member] | Cash Flow Hedging [Member] | ||||
Accumulated other comprehensive income (loss) component | $ 0 | $ 599 | $ (215) | $ 1,095 |
Note 11 - Retirement Benefits -
Note 11 - Retirement Benefits - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
UNITED STATES | ||||
Service cost | $ 0 | $ 0 | $ 0 | $ 0 |
Interest cost | 2,473 | 2,396 | 4,946 | 4,793 |
Expected return on plan assets | (2,779) | (2,994) | (5,558) | (5,987) |
Recognized net actuarial loss | 951 | 954 | 1,902 | 1,907 |
Amortization of prior service cost | 0 | 0 | 0 | 0 |
Net periodic (benefit) cost | 645 | 356 | 1,290 | 713 |
Foreign Plan [Member] | ||||
Service cost | 40 | 43 | 81 | 87 |
Interest cost | 292 | 263 | 589 | 525 |
Expected return on plan assets | (346) | (247) | (699) | (492) |
Recognized net actuarial loss | (150) | (16) | (302) | (31) |
Amortization of prior service cost | (1) | (1) | (2) | (2) |
Net periodic (benefit) cost | $ (165) | $ 42 | $ (333) | $ 87 |
Note 11 - Retirement Benefits_2
Note 11 - Retirement Benefits - Funded Status for US and Foreign Pension Plan (Details) - UNITED STATES - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 |
Prepaid benefit cost | $ 3,019 | $ 2,807 |
Current liabilities | (502) | (425) |
Non-current liabilities | (46,054) | (48,154) |
Net amount recognized | $ (43,537) | $ (45,772) |
Note 11 - Retirement Benefits_3
Note 11 - Retirement Benefits - Contributions to Defined Benefit Plans (Details) $ in Thousands | 6 Months Ended |
Dec. 31, 2023 USD ($) | |
Contributions to defined benefit plans | $ 1,541 |
Remaining contributions to be made | 8,671 |
UNITED STATES | Defined Benefit Plan, Funded Plan [Member] | |
Contributions to defined benefit plans | 1,442 |
Remaining contributions to be made | 8,363 |
UNITED STATES | Defined Benefit Plan, Unfunded Plan [Member] | |
Contributions to defined benefit plans | 99 |
Remaining contributions to be made | 53 |
UNITED KINGDOM | |
Contributions to defined benefit plans | 0 |
Remaining contributions to be made | 0 |
GERMANY | Defined Benefit Plan, Unfunded Plan [Member] | |
Contributions to defined benefit plans | 0 |
Remaining contributions to be made | $ 255 |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Effective Income Tax Rate Reconciliation, Percent | 22.10% | 23% | 23.70% | 23.80% |
Note 13 - Earnings Per Share (D
Note 13 - Earnings Per Share (Details Textual) - shares | 6 Months Ended | |
Dec. 31, 2023 | Dec. 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) | 89,434 | 132,217 |
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 | 6 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Basic (in shares) | 11,791 | 11,852 | 11,762 | 11,833 |
Dilutive effect of unvested, restricted stock awards (in shares) | 67 | 65 | 129 | 97 |
Diluted - Average shares outstanding (in shares) | 11,858 | 11,917 | 11,891 | 11,930 |
Note 14 - Accumulated Other C_3
Note 14 - Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Jun. 30, 2023 |
Foreign currency translation adjustment | $ (69,967) | $ (74,373) |
Unrealized pension losses, net of tax | (91,580) | (92,761) |
Unrealized gains (losses) on derivative instruments, net of tax | 5,986 | 8,657 |
Total | $ (155,561) | $ (158,477) |
Note 16 - Industry Segment In_3
Note 16 - Industry Segment Information (Details Textual) | 6 Months Ended |
Dec. 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 | 6 Months Ended | |||
Dec. 31, 2023 | Sep. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 178,400 | $ 187,789 | $ 363,174 | $ 368,389 | |
Income from operations | 25,832 | 27,806 | 52,749 | 54,096 | |
Restructuring costs | (1,360) | (511) | (3,266) | (1,093) | |
Gain (Loss) on Disposition of Business | 0 | 0 | 274 | 0 | |
Acquisition related costs | (1,195) | (174) | (1,696) | (466) | |
Other operating income (expense), net | 0 | (116) | 0 | (116) | |
Interest expense | 1,019 | 1,566 | 2,295 | 2,753 | |
Other non-operating (income) expense | 332 | (70) | 1,178 | 948 | |
Income from continuing operations before income taxes | 24,481 | 26,310 | 49,276 | 50,395 | |
Electronics Products Group [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 79,419 | 72,556 | 161,107 | 147,755 | |
Income from operations | 15,850 | 16,972 | 32,184 | 35,113 | |
Restructuring costs | (755) | (251) | (1,030) | (496) | |
Engraving Group [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 40,845 | 37,689 | 81,639 | 72,713 | |
Income from operations | 8,910 | 6,373 | 16,505 | 12,227 | |
Restructuring costs | (580) | (260) | (1,695) | (597) | |
Scientific Group [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 16,292 | 19,292 | 34,485 | 37,748 | |
Income from operations | 4,248 | 4,165 | 9,178 | 7,888 | |
Engineering Technologies Group [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 19,887 | 24,193 | 38,107 | 41,192 | |
Income from operations | 3,405 | 3,741 | 6,422 | 5,606 | |
Restructuring costs | (13) | (55) | |||
Specialty Solutions Group [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 21,957 | 34,059 | 47,836 | 68,981 | |
Income from operations | 3,965 | 5,716 | 9,582 | 11,793 | |
Gain (Loss) on Disposition of Business | $ 300 | ||||
Corporate and Other [Member] | |||||
Income from operations | $ (7,991) | $ (8,360) | $ (16,434) | $ (16,856) |
Note 17 - Restructuring (Detail
Note 17 - Restructuring (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2024 | |
Restructuring Costs | $ 1,360 | $ 511 | $ 3,266 | $ 1,093 | |
Forecast [Member] | |||||
Restructuring Costs | $ 3,500 |
Note 17 - Restructuring - Summa
Note 17 - Restructuring - Summary of Severance, Restructuring, and Related Charges by Initiative (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Current year initiatives | $ 1,360 | $ 511 | $ 3,266 | $ 1,093 |
Involuntary Employee Severance And Benefit Costs [Member] | ||||
Current year initiatives | 415 | 334 | 1,968 | 679 |
Other Restructuring [Member] | ||||
Current year initiatives | 945 | 177 | 1,298 | 414 |
Current Year Restructuring Initiatives [Member] | ||||
Current year initiatives | 1,266 | 191 | 3,038 | 328 |
Current Year Restructuring Initiatives [Member] | Involuntary Employee Severance And Benefit Costs [Member] | ||||
Current year initiatives | 359 | 117 | 1,786 | 211 |
Current Year Restructuring Initiatives [Member] | Other Restructuring [Member] | ||||
Current year initiatives | 907 | 74 | 1,252 | 117 |
Prior Year Initiatives [Member] | ||||
Current year initiatives | 94 | 320 | 228 | 765 |
Prior Year Initiatives [Member] | Involuntary Employee Severance And Benefit Costs [Member] | ||||
Current year initiatives | 56 | 217 | 182 | 468 |
Prior Year Initiatives [Member] | Other Restructuring [Member] | ||||
Current year initiatives | $ 38 | $ 103 | $ 46 | $ 297 |
Note 17 - Restructuring - Sum_2
Note 17 - Restructuring - Summary of Activity in Reserves Related to Restructuring Initiatives (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Restructuring liabilities | $ 1,296 | |
Restructuring liabilities | 1,642 | |
Current Year Restructuring Initiatives [Member] | ||
Restructuring liabilities | 0 | |
Additions and adjustments | 3,038 | |
Payments | (1,872) | |
Restructuring liabilities | 1,166 | |
Current Year Restructuring Initiatives [Member] | Involuntary Employee Severance And Benefit Costs [Member] | ||
Restructuring liabilities | 0 | |
Additions and adjustments | 1,786 | |
Payments | (843) | |
Restructuring liabilities | 943 | |
Current Year Restructuring Initiatives [Member] | Other Restructuring [Member] | ||
Restructuring liabilities | 0 | |
Additions and adjustments | 1,252 | |
Payments | (1,029) | |
Restructuring liabilities | 223 | |
Prior Year Initiatives [Member] | ||
Restructuring liabilities | 1,296 | $ 1,740 |
Additions and adjustments | 228 | 1,093 |
Payments | (1,048) | (2,276) |
Restructuring liabilities | 476 | 557 |
Prior Year Initiatives [Member] | Involuntary Employee Severance And Benefit Costs [Member] | ||
Restructuring liabilities | 1,104 | 1,045 |
Additions and adjustments | 182 | 679 |
Payments | (985) | (1,577) |
Restructuring liabilities | 301 | 147 |
Prior Year Initiatives [Member] | Other Restructuring [Member] | ||
Restructuring liabilities | 192 | 695 |
Additions and adjustments | 46 | 414 |
Payments | (63) | (699) |
Restructuring liabilities | $ 175 | $ 410 |
Note 17 - Restructuring - Sum_3
Note 17 - Restructuring - Summary of Restructuring Expenses by Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Restructuring charges | $ 1,360 | $ 511 | $ 3,266 | $ 1,093 |
Electronics Products Group [Member] | ||||
Restructuring charges | 755 | 251 | 1,030 | 496 |
Engraving Group [Member] | ||||
Restructuring charges | 580 | 260 | 1,695 | 597 |
Engineering Technologies Group [Member] | ||||
Restructuring charges | 13 | 55 | ||
Corporate Segment [Member] | ||||
Restructuring charges | 12 | 486 | ||
Involuntary Employee Severance And Benefit Costs [Member] | ||||
Restructuring charges | 415 | 334 | 1,968 | 679 |
Involuntary Employee Severance And Benefit Costs [Member] | Electronics Products Group [Member] | ||||
Restructuring charges | 347 | 168 | 591 | 299 |
Involuntary Employee Severance And Benefit Costs [Member] | Engraving Group [Member] | ||||
Restructuring charges | 43 | 166 | 836 | 380 |
Involuntary Employee Severance And Benefit Costs [Member] | Engineering Technologies Group [Member] | ||||
Restructuring charges | 13 | 55 | ||
Involuntary Employee Severance And Benefit Costs [Member] | Corporate Segment [Member] | ||||
Restructuring charges | 12 | 486 | ||
Other Restructuring [Member] | ||||
Restructuring charges | 945 | 177 | 1,298 | 414 |
Other Restructuring [Member] | Electronics Products Group [Member] | ||||
Restructuring charges | 408 | 83 | 439 | 197 |
Other Restructuring [Member] | Engraving Group [Member] | ||||
Restructuring charges | 537 | $ 94 | 859 | $ 217 |
Other Restructuring [Member] | Engineering Technologies Group [Member] | ||||
Restructuring charges | 0 | 0 | ||
Other Restructuring [Member] | Corporate Segment [Member] | ||||
Restructuring charges | $ 0 | $ 0 |
Note 18 - Divestitures (Details
Note 18 - Divestitures (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Feb. 28, 2023 | Dec. 31, 2023 | Sep. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2023 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 178,400 | $ 187,789 | $ 363,174 | $ 368,389 | ||||
Proceeds from Divestiture of Businesses | 274 | 0 | ||||||
Gain (Loss) on Disposition of Business | 0 | 0 | 274 | 0 | ||||
Goodwill, Other Increase (Decrease) | $ 13,889 | |||||||
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 | $ 21,957 | $ 34,059 | $ 47,836 | $ 68,981 | ||||
Gain (Loss) on Disposition of Business | $ 300 | |||||||
Goodwill, Other Increase (Decrease) | $ 0 | $ (200) | ||||||
Specialty Solutions Group [Member] | Procon Pumps Business [Member] | ||||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 21,200 |