Teledyne Bolt 10-Q 10 Nov 14 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Sep. 30, 2014	Nov. 06, 2014
Document Information [Line Items]	'	'
Entity Registrant Name	'BOLT TECHNOLOGY CORP	'
Entity Central Index Key	'0000354655	'
Current Fiscal Year End Date	'--06-30	'
Entity Filer Category	'Accelerated Filer	'
Trading Symbol	'BOLT	'
Entity Common Stock, Shares Outstanding	'	8,710,328
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-14	'
Document Fiscal Period Focus	'Q1	'
Document Fiscal Year Focus	'2015	'

CONSOLIDATED_STATEMENTS_OF_INC

CONSOLIDATED STATEMENTS OF INCOME (USD $)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Sales	$11,913,000	$16,208,000
Costs and Expenses:	'	'
Cost of sales	6,134,000	7,957,000
Research and development	958,000	926,000
Selling, general and administrative	3,680,000	3,847,000
Merger expense	1,417,000	0
Interest income	-50,000	-50,000
Operating Expenses, Total	12,139,000	12,680,000
(Loss) Income before income taxes	-226,000	3,528,000
Provision for income taxes	344,000	1,165,000
Net (loss) income	($570,000)	$2,363,000
(Loss) Earnings per share:	'	'
Basic (in dollars per share)	($0.07)	$0.27
Diluted (in dollars per share)	($0.07)	$0.27
Average number of common shares outstanding:	'	'
Basic (in shares)	8,694,083	8,643,400
Diluted (in shares)	8,694,083	8,653,426

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2014	Jun. 30, 2014
Current Assets:	'	'
Cash and cash equivalents	$21,830,000	$24,245,000
Accounts receivable, less allowance for uncollectible accounts of $195,000 at September 30, 2014 and $129,000 at June 30, 2014	8,205,000	7,568,000
Inventories	21,839,000	20,812,000
Deferred income taxes	540,000	498,000
Other current assets	1,073,000	1,360,000
Total current assets	53,487,000	54,483,000
Property, Plant and Equipment, net	5,665,000	5,544,000
Goodwill, net	17,227,000	17,227,000
Other Intangible Assets, net	5,969,000	6,172,000
Other Assets	242,000	237,000
Total assets	82,590,000	83,663,000
Current Liabilities:	'	'
Accounts payable	2,238,000	1,645,000
Accrued expenses	3,285,000	3,861,000
Contingent earnout liability	2,810,000	2,810,000
Dividends payable	784,000	781,000
Total current liabilities	9,117,000	9,097,000
Deferred Income Taxes	2,219,000	2,171,000
Total liabilities	11,336,000	11,268,000
Stockholders' Equity:	'	'
Common stock	33,420,000	33,207,000
Retained earnings	39,760,000	41,114,000
Treasury stock, at cost	-1,926,000	-1,926,000
Total stockholders' equity	71,254,000	72,395,000
Total liabilities and stockholders' equity	$82,590,000	$83,663,000

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS [Parenthetical] (USD $)	Sep. 30, 2014	Jun. 30, 2014
Allowance for doubtful accounts (in dollars)	$195,000	$129,000

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Cash Flows From Operating Activities:	'	'
Net (loss) income	($570,000)	$2,363,000
Adjustments to reconcile net (loss) income to net cash (used) provided by operating activities:	'	'
Depreciation and amortization	419,000	400,000
Deferred income taxes	6,000	-129,000
Stock-based compensation expense	176,000	174,000
Change in operating assets and liabilities:	'	'
Accounts receivable	-637,000	1,315,000
Inventories	-1,191,000	-1,431,000
Other assets	287,000	74,000
Accounts payable	593,000	-477,000
Accrued expenses	-576,000	-227,000
Income taxes payable	0	995,000
Net cash (used) provided by operating activities	-1,493,000	3,057,000
Cash Flows From Investing Activities:	'	'
Capital expenditures and other non-current assets	-178,000	-181,000
Net cash used by investing activities	-178,000	-181,000
Cash Flows From Financing Activities:	'	'
Dividends paid	-781,000	-604,000
Exercise of stock options	0	24,000
Tax benefit from vested restricted stock	37,000	58,000
Net cash used by financing activities	-744,000	-522,000
Net (decrease) increase in cash and cash equivalents	-2,415,000	2,354,000
Cash and cash equivalents at beginning of period	24,245,000	22,816,000
Cash and cash equivalents at end of period	21,830,000	25,170,000
Supplemental Disclosure of Cash Flow Information:	'	'
Income taxes paid	250	241,000
Non Cash transactions:	'	'
Transfer of property and equipment to inventory	161,000	0
Transfer of inventory to property and equipment	$325,000	$0

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Basis of Accounting [Text Block]	'
	Note 1 – Basis of Presentation
	The Consolidated Balance Sheet as of September 30, 2014, the Consolidated Statements of Income for the three month periods ended September 30, 2014 and 2013 and the Consolidated Statements of Cash Flows for the three month periods ended September 30, 2014 and 2013 are unaudited. In the opinion of management, all adjustments necessary for a fair presentation of such financial statements have been included. Such adjustments consisted only of normal, recurring items. Interim results are not necessarily indicative of results for a full year. These Consolidated Financial Statements (Unaudited) should be read in conjunction with the Consolidated Financial Statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2014.

Description_of_Business_and_Si

Description of Business and Significant Accounting Policies	3 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Description Of Business and Significant Accounting Policies [Text Block]	'
	Note 2 – Description of Business and Significant Accounting Policies
	The Company develops, manufactures and sells marine seismic data acquisition equipment and underwater remotely operated robotic vehicles, and consists of four operating units (each a separate reportable segment): Bolt Technology Corporation (“Bolt”), A-G Geophysical Products, Inc. (“A-G”), Real Time Systems Inc. (“RTS”) and SeaBotix Inc. (“SBX”). The Bolt seismic energy sources segment develops, manufactures and sells marine seismic energy sources (air guns) and replacement parts. The A-G underwater cables and connectors segment develops, manufactures and sells underwater cables, connectors, hydrophones, depth and pressure transducers and seismic source monitoring systems. The RTS seismic energy source controllers segment develops, manufactures and sells air gun controllers/synchronizers, data loggers and auxiliary equipment. The SBX underwater robotic vehicles segment develops, manufactures and sells underwater remotely operated robotic vehicles used for a variety of underwater tasks.
	Principles of Consolidation
	The Consolidated Financial Statements (Unaudited) include the accounts of Bolt Technology Corporation and its subsidiary companies. All significant intercompany balances and transactions have been eliminated.
	Cash and Cash Equivalents
	The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents.
	Inventories
	Inventories are valued at the lower of cost or market, with cost principally determined on an average cost method that approximates the first-in, first-out method. The Company maintains an inventory valuation reserve to provide for slow moving and obsolete inventory. Amounts are charged to the reserve when the Company scraps or disposes of inventory.
	Goodwill, Intangible Assets with Indefinite Lives and Other Long-Lived Assets
	Goodwill represents the unamortized excess cost over the value of net assets acquired in business combinations. The Financial Accounting Standards Board guidance for testing goodwill for impairment provides the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the estimated fair value of a reporting unit is less than its carrying amount. If an entity elects to perform a qualitative assessment and determines that an impairment is more likely than not, the entity is then required to perform a two-step quantitative impairment test, otherwise no further analysis is required. An entity also may elect not to perform the qualitative assessment and, instead, proceed directly to the two-step quantitative impairment test. The ultimate outcome of the goodwill impairment review for a reporting unit should be the same whether an entity chooses to perform the qualitative assessment or proceeds directly to the two-step quantitative impairment test.
	The Company conducted an assessment of qualitative factors regarding the A-G reporting unit at June 30, 2014. The qualitative assessment indicated no impairment of the A-G goodwill balance at June 30, 2014.
	For the RTS reporting unit, the Company performed the quantitative impairment test at June 30, 2014 using the capitalized cash flow method and the market price method. The impairment test for the RTS reporting unit indicated no impairment of the goodwill balance at June 30, 2014.
	For the SBX reporting unit, the Company performed the quantitative test at December 31, 2013 using the capitalized cash flow method and the market price method, as well as the discounted cash flow method, and the test indicated no impairment of the goodwill balance. The Company’s review of the SBX goodwill balance at June 30, 2014 did not result in any indicators of impairment.
	The Company reviewed A-G, RTS and SBX goodwill as of September 30, 2014 and no indicators of impairment were identified.
	Intangible assets with indefinite lives must be tested annually or more frequently if there are indicators of impairment, to determine if events and circumstances still justify the carrying value of such asset. The test consists of a comparison of the fair value of the asset to its carrying amount. If the carrying amount exceeds the fair value, an impairment loss is recognized equal to the excess of the carrying amount over the fair value. Any such loss would be recognized in the period in which the impairment arose. The SBX intangible asset with an indefinite life was tested for impairment at December 31, 2013 and the test indicated no impairment.
	The Company reviewed the RTS and SBX intangible assets with indefinite lives at September 30, 2014 and June 30, 2014 and no indicators of impairment were identified.
	The Company’s other long-lived assets consist of property, plant and equipment, other intangible assets with definite lives and other non-current assets. The Company reviews these assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The carrying amount is considered impaired when anticipated undiscounted cash flows expected to result from the use of the asset and its eventual disposition is less than its carrying amount. The Company’s reviews as of June 30, 2014 and September 30, 2014 did not identify any indicators of impairment.
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of financial statements, and the reported amounts of revenues and expenses during the reporting period. The most critical estimates made by the Company are those relating to inventory reserves, the potential impairment of goodwill and intangible assets with indefinite lives, other long-lived assets impairment, valuation of acquisitions, contingent earnout liability and realization of deferred tax assets. Actual results could differ from those estimates.
	Valuation of Acquisitions
	The Company allocates the amounts it pays for each acquisition to the assets it acquires and the liabilities it assumes based on estimated fair values at acquisition date. The Company determines the estimated fair values of identifiable intangible assets based on detailed valuations that use historical information and market assumptions. The Company allocates any excess purchase price over the fair value of the net tangible and intangible assets acquired to goodwill. The use of different valuation assumptions, including estimated cash flows and discount rates, or different estimated useful life assumptions could result in different purchase price allocations and intangible asset amortization expense in current and future periods.
	Contingent Earnout Liability
	In the SBX acquisition, the Company is obligated under an earnout arrangement to make cash payments to the former SBX stockholders if certain revenue and gross profit margin thresholds are achieved. The Company recorded a contingent earnout liability at the acquisition date at its estimated fair value, which takes into account the range and probability of projected future revenues of the acquired entity over the earnout period. The Company revalues the contingent earnout liability at the close of each accounting period and records any change in the estimated fair value in the Consolidated Statement of Income as adjustment of contingent earnout liability.
	Increases or decreases in the fair value of the SBX contingent earnout liability can result from changes in assumed revenues, probabilities of achieving revenue and gross profit margin thresholds and discount rates. Significant judgment is used in determining the appropriateness of fair value assumptions at the acquisition date and in subsequent periods. As a result, actual contingent earnout payments can differ from estimates, and the differences could be material.
	Computation of Earnings Per Share
	Basic (loss) earnings per share is computed by dividing net (loss) income by the weighted average number of common shares outstanding during the period. Diluted (loss) earnings per share is computed by dividing net (loss) income by the weighted average number of common shares outstanding during the period including common share equivalents (which includes stock option grants and restricted stock awards) assuming dilution. Unvested shares of restricted stock are included in computing basic (loss) earnings per share because they contain rights to receive non-forfeitable dividends.
	The following is a reconciliation of basic (loss) earnings per share to diluted (loss) earnings per share for the three month periods ended September 30, 2014 and 2013:
		Three Months Ended
		September 30,
		2014		2013
	Net (loss) income available to common stockholders	$	-570,000	$	2,363,000
	Divided by:
	Weighted average common shares		8,694,083		8,643,400
	Weighted average common share equivalents		-		10,026
	Total weighted average common shares and common share equivalents		8,694,083		8,653,426
	Basic (loss) earnings per share	$	-0.07	$	0.27
	Diluted (loss) earnings per share	$	-0.07	$	0.27
	For the three month period ended September 30, 2014, the calculations do not include options to acquire 70,876 shares, since the inclusion of these shares would have been anti-dilutive. For the three month period ended September 30, 2013, the calculation included all options to acquire shares because they were all dilutive.
	Recent Accounting Developments
	None.

Merger

Merger	3 Months Ended
	Sep. 30, 2014
Business Combinations [Abstract]	'
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	'
	Note 3 – Merger
	On September 3, 2014, the Company entered into an agreement and plan of merger (the “Merger Agreement”), pursuant to which Teledyne Technologies Incorporated (“Teledyne”) will acquire the Company (the “Merger”). At the effective time of the Merger, if consummated, each outstanding share of the Company’s common stock (including shares of restricted stock which shall vest and become free of restrictions) will be converted automatically into the right to receive $22.00 in cash, without interest. Additionally, each outstanding option to purchase common stock of the Company (whether vested or unvested) will be converted into the right to receive an amount in cash equal to the excess, if any, of $22.00 over the exercise price of such option.
	During the interim period from September 3, 2014 through the earlier of the consummation of the Merger or the termination of the Merger Agreement, the Company is subject to certain restrictions on its business activities and is required to conduct its business in the ordinary course. In addition, the Merger Agreement prohibits the Company from, among other things, declaring any further dividends, granting any stock options or restricted stock or repurchasing shares of the Company’s common stock pursuant to the existing repurchase authorization, in each case prior to the earlier of the consummation of the Merger or the termination of the Merger Agreement.
	The consummation of the Merger is subject to certain closing conditions, including approval of the Merger Agreement by the holders of the requisite number of shares of Company common stock under the Connecticut Business Corporation Act, and other conditions customary for a transaction of this type. A special meeting of the shareholders of the Company has been scheduled for November 17, 2014 to vote on the Merger.
	The Merger Agreement provides that the Company may not solicit competing acquisition proposals, subject to certain exceptions designed to allow the Company’s Board of Directors to fulfill its fiduciary duties. In addition, the Merger Agreement contains certain termination rights and provides that, upon termination of the Merger Agreement under specified circumstances, the Company may be required to pay Teledyne a termination fee equal to $7,500,000 and to pay Teledyne’s expenses up to $1,000,000.
	During the three month period ended September 30, 2014, the Company  incurred $1,417,000 of expenses relating to the proposed merger, primarily for legal and investment banker fees. These expenses are non-deductible for income tax purposes.
	Between September 10, 2014 and September 24, 2014, five substantially similar putative class action complaints were filed in the Superior Court of the State of Connecticut naming the Company, the members of the Company’s board of directors, Teledyne, and a Teledyne merger subsidiary (“Merger Sub”) as defendants. The complaints alleged that the members of the Company’s board of directors breached their fiduciary duties to Bolt’s shareholders by agreeing to sell Bolt for inadequate and unfair consideration and pursuant to an inadequate and unfair process, and that Teledyne and/or Merger Sub aided and abetted those alleged breaches. Teledyne and/or Merger Sub removed all five cases to Federal Court. On October 23, 2014, amended complaints were filed in four of the cases. On October 16, 2014, the court consolidated all of the cases identified above into Armin Walker v. Bolt Technology Corporation et al., C.A. No. 3:14-cv-01406, (the “Action”). On October 31, 2014, one of the five plaintiffs voluntarily dismissed her case, leaving four consolidated cases in the Action. On November 3, 2014, the Federal Court remanded the Action to state court in Connecticut, which also had the effect of returning the cases to four separate cases (the “Cases”). On November 10, 2014, one of the remaining four plaintiffs withdrew his case, leaving a total of three separate Cases.
	On November 10, 2014, the Company, the members of the Company’s board of directors, Teledyne, and Merger Sub entered into a memorandum of understanding (“MOU”) with the plaintiffs in the three pending Cases providing for the settlement of all claims in the Cases. Under the MOU, and subject to conditions, including court approval and further definitive documentation, the plaintiffs on behalf of the putative class they represent have agreed to settle and release, against the defendants and their affiliates and agents, all claims in the Action and Cases and any potential claim related to (i) the Merger and/or the Merger Agreement, or any amendment thereto; (ii) the adequacy of the consideration to be paid to the Company’s shareholders in connection with the Merger; (iii) the fiduciary obligations of any of the defendants or other released parties in connection with the Merger and/or the Merger Agreement, or any amendment thereto; (iv) the negotiations in connection with and process leading to the Merger and/or the Merger Agreement, or any amendment thereto; and (v) the disclosures or disclosure obligations of any of the defendants or other released parties in connection with the Merger and/or the Merger Agreement.
	The settlement provides for the Company to file additional disclosures supplementing its Definitive Proxy Statement, which disclosures will be filed as soon as the MOU is executed by all of the parties. The settlement will be subject to approval by the Connecticut Superior Court, after a hearing at which dissenting stockholders can object. The settlement application to the court will include an application for payment by defendants of plaintiffs’ legal fees. The amount of such legal fees is undetermined at this time. The Company anticipates that its D&O insurance will cover any such payments, subject to any applicable deductible.

SeaBotix_Inc_Acquisition

SeaBotix Inc. Acquisition	3 Months Ended
	Sep. 30, 2014
Business Combinations [Abstract]	'
Business Combination Disclosure [Text Block]	'
	Note 4 – SeaBotix Inc. Acquisition
	The Company acquired all of the outstanding shares of capital stock of SeaBotix Inc. effective January 1, 2011. At closing, $9,500,000 was paid and a $500,000 purchase price holdback was accrued by the Company. Additional post-closing earnout payments are due if SBX achieves certain revenue and gross profit margin thresholds during the four-year period ending December 31, 2014.
	The total purchase price paid or accrued consisted of the following:
	Cash paid	$	9,500,000
	Accrual for contingent earnout payments		5,000,000
	Accrual for holdback and pro forma working capital adjustment		1,560,000
	Total purchase price	$	16,060,000
	The final purchase price allocation was as follows:
	Net current assets, including cash acquired of $316,000 and accounts receivable of $1,342,000	$	4,963,000
	Non-current assets (mainly property and equipment)		796,000
	Goodwill		6,270,000
	Other intangible assets		8,500,000
	Accounts payable and accrued expenses		-1,010,000
	Debt assumed		-539,000
	Deferred tax liability (non-current)		-2,920,000
	Total purchase price allocation	$	16,060,000
	In fiscal years 2014, 2013 and 2012, the Company increased the contingent earnout liability by $2,500,000, $500,000, and $4,500,000, respectively, and the amounts were charged to the Consolidated Statement of Income. These charges are non-deductible for income tax purposes. These amounts are not included in the total purchase price of $16,060,000.
	Set forth below is a summary of the activity in the contingent earnout liability (all amounts represent fair values) from the date of closing to September 30, 2014:
		Contingent
		Earnout
		Liability
	Balance at closing	$	5,000,000
	Earnout paid in fiscal year 2011		-2,000,000
	Balance at June 30, 2011		3,000,000
	Earnout paid in fiscal year 2012		-2,500,000
	Increase to contingent earnout liability in June 2012		4,500,000
	Balance at June 30, 2012		5,000,000
	Earnout paid in fiscal year 2013		-2,185,000
	Increase to contingent earnout liability in June 2013		500,000
	Balance at June 30, 2013		3,315,000
	Earnout paid in fiscal year 2014		-3,005,000
	Increase to contingent earnout liability in December 2013		1,500,000
	Increase to contingent earnout liability in June 2014		1,000,000
	Balance at September 30, 2014 and June 30, 2014	$	2,810,000
	An earnout payment equal to 15.5% of annual gross revenues is payable if SBX generates annual gross revenues in excess of $10,000,000 and achieves a certain gross profit percentage for calendar year 2014. If the Company estimates that it is more likely than not that the earnout payment for calendar year 2014 will exceed $2,810,000, the Company would have to increase the contingent earnout liability by the anticipated additional amount of the earnout payment. Such increase would result in a non-cash charge to the Consolidated Statement of Income.
	The $2,810,000 contingent earnout liability at September 30, 2014 and June 30, 2014 was estimated by the Company based upon projected SBX revenues and gross profit percentages for calendar year 2014.

Inventories

Inventories	3 Months Ended
	Sep. 30, 2014
Inventory Disclosure [Abstract]	'
Inventory Disclosure [Text Block]	'
	Note 5 – Inventories
	Inventories consist of the following:
		September 30,		June 30,
		2014		2014
	Raw materials and sub-assemblies	$	19,022,000	$	18,077,000
	Work-in-process		3,580,000		3,429,000
			22,602,000		21,506,000
	Less – Reserve for inventory valuation		-763,000		-694,000
		$	21,839,000	$	20,812,000
	The inventory valuation reserve is a significant estimate made by management based on experience and the exercise of professional judgment. Actual results may differ from this estimate, and the difference could be material.
	Management establishes the inventory valuation reserve by reviewing the inventory for items that should be reserved in full based on a lack of usage for a specified period of time and for which future demand is not forecasted and establishes an additional reserve for slow moving inventory based on varying percentages of the cost of the items. The inventory valuation reserve is adjusted at the close of each accounting period, as necessary, based on management’s estimate of the valuation reserve required. This estimate is calculated on a consistent basis as determined by the Company’s inventory valuation policy. Increases to the inventory valuation reserve result in a charge to cost of sales, and decreases to the reserve result in a credit to cost of sales. The inventory valuation reserve is also decreased when items are scrapped or disposed of. During the three month period ended September 30, 2014, the inventory valuation reserve was increased by $69,000 and no items were scrapped or disposed

Goodwill

Goodwill	3 Months Ended
	Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Goodwill Disclosure [Text Block]	'
	Note 6 – Goodwill
	The Company’s goodwill carrying amounts relate to the acquisitions of A-G, RTS and SBX. A-G, RTS and SBX are three reporting units under ASC 350, “Intangibles — Goodwill and Other.” Bolt, the parent of A-G, RTS and SBX, is a fourth reporting unit and has no goodwill.
	The composition of the net goodwill balance at September 30, 2014 and June 30, 2014 is as follows:
	A-G	$	7,679,000
	RTS		3,278,000
	SBX		6,270,000
		$	17,227,000
	Goodwill represents approximately 21% of the Company’s total assets at September 30, 2014 and thus the evaluation of goodwill impairment is a significant estimate by management.

Income_Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2014
Income Tax Disclosure [Abstract]	'
Income Tax Disclosure [Text Block]	'
	Note 7 – Income Taxes
	A reconciliation of the federal statutory rate to the effective tax rate reflected in the total provision for income taxes for the three month periods ended September 30 is as follows:
		2014			2013
	Federal statutory rate		-34	%		34	%
	Exempt income from domestic manufacturer’s deduction		-15			-3
	Non-deductible expenses:
	Merger expense		213			-
	Other		6			1
	State taxes		-13			1
	All other, net		-5			-
	Effective tax rate		152	%		33	%
	ASC 740, “Income Taxes,” requires the Company to review all open tax years in all tax jurisdictions to determine if there are any uncertain income tax positions that require recognition in the Company’s financial statements, including any penalties and interest, based on the “more-likely-than-not”criterion. Based on its review, the Company has concluded that there were no significant income tax positions that would require the recording of additional income taxes or the recognition of any tax benefit in the Company’s financial statements at September 30, 2014 and June 30, 2014. There were no unallocated tax reserves at September 30, 2014 and June 30, 2014. The Company’s federal income tax returns for fiscal years prior to fiscal year 2011 are no longer subject to examination by the Internal Revenue Service.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements Disclosure [Text Block]	'
	Note 8 — Fair Value Measurements
	accounting guidance for fair value measurements, the Company uses a three-tier fair value hierarchy to prioritize the inputs for measuring fair value. The hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable inputs (Level 3).
	Set forth below is a summary of liabilities that are measured at fair value on a recurring basis based on the three-level valuation hierarchy:
		Quoted		Significant		Significant		Total
		Market Prices		Other		Unobservable
		for		Observable		Inputs
		Identical		Inputs		(Level 3)
		Assets		(Level 2)
		(Level 1)
	Liabilities
	At September 30, 2014 — Contingent earnout liability	$	—	$	—	$	2,810,000	$	2,810,000
	At June 30, 2014 — Contingent earnout liability	$	—	$	—	$	2,810,000	$	2,810,000
	This liability relates to the estimated fair value of the earnout payment to former SeaBotix Inc. stockholders for the earnout period ending December 31, 2014.
	There have been no changes in the Level 3 liability from June 30, 2014 to September 30, 2014.
	The Company determined the fair value of the contingent earnout liability at September 30, 2014 and June 30, 2014 using a probability weighted approach. The principal inputs to the approach include expectations of the specific business’s revenue and the probability of achieving required gross profit percentages for the remaining earnout period which ends on December 31, 2014. Given the use of significant inputs that are not observable in the market, the contingent earnout liability is classified within Level 3 of the fair value hierarchy. There were no significant changes to this methodology during the three month period ended September 30, 2014 and the year ended June 30, 2014.
	Fair values of accounts receivable, other current assets, accounts payable, accrued expenses and dividends payable reflected in the September 30, 2014 (Unaudited) and June 30, 2014 Consolidated Balance Sheets approximate carrying values on those dates.

Stock_Options_and_Restricted_S

Stock Options and Restricted Stock	3 Months Ended
	Sep. 30, 2014
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]	'
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	'
	Note 9 – Stock Options and Restricted Stock
	The Company recognizes compensation costs for all share-based payments granted based on the grant-date fair value estimated in accordance with the provisions of ASC 718, “Compensation — Stock Compensation.”
	The Bolt Technology Corporation 2012 Stock Incentive Plan (the “2012 Plan”) was approved by the Company’s stockholders at the November 20, 2012 Annual Meeting of Stockholders. The 2012 Plan replaced the Company’s Amended and Restated 2006 Stock Option and Restricted Stock Plan (the “2006 Plan”). No new grants may be made under the 2006 Plan, but stock option and restricted stock grants awarded prior to the effective date of the 2012 Plan continue in effect.
	The 2012 Plan provides that 750,000 shares of Common Stock may be used for equity awards under the 2012 Plan of either stock options or restricted stock grants or any combination thereof. Stock options granted under the 2012 Plan can become vested over, and can be exercisable for, a period of up to ten years.
	Under the 2012 Plan, non-qualified or compensatory stock options can be granted and awards of restricted stock can be made to non-employee directors at the discretion of the compensation committee, for up to a combined annual maximum of 3,000 shares of Common Stock per non-employee director. Under the terms of the 2012 Plan, no stock options or restricted stock can be granted subsequent to June 30, 2022.
	The Merger Agreement with Teledyne prohibits the Company from granting any stock options or restricted stock prior to the earlier of the consummation of the Merger or the termination of the Merger Agreement.
	Stock Options
	Stock option compensation expense was $45,000 and $47,000 for the three month periods ended September 30, 2014 and 2013, respectively.
	A summary of changes in stock options during the three month period ended September 30, 2014 is as follows:
		2012 Plan				2006 Plan
				Weighted				Weighted
				Average				Average
				Exercise				Exercise
		Shares		Price		Shares		Price
	Options outstanding at June 30, 2014		105,200	$	18.62		53,400	$	12.33
	Granted		-	$	-		-	$	-
	Exercised		-	$	-		-	$	-
	Options outstanding at September 30, 2014		105,200	$	18.62		53,400	$	12.33
	At the effective time of the Merger with Teledyne if consummated, each outstanding stock option (whether vested or unvested) will be converted into the right to receive an amount in cash equal to the excess if any, of $22.00 over the exercise price of such option.
	At September 30, 2014, the aggregate intrinsic value for outstanding options was $862,000, because the market price of the Company’s Common Stock at September 30, 2014 was higher than the weighted average exercise price of such options.
	Restricted Stock
	During the three month period ended September 30, 2014, 34,000 shares of restricted stock were granted under the 2012 Plan. These shares vest over a five-year period and the cost to the recipients is zero.  During the three month period ended September 30, 2013, 29,500 shares of restricted stock were granted under the 2012 Plan. Of these shares, 28,000 and 1,500 shares vest over a five-year period and one-year period, respectively, and the cost to the recipients is zero. The aggregate compensation cost for restricted stock granted during the three month periods ended September 30, 2014 and 2013 was $576,000 and $546,000, respectively, as of the grant dates. This compensation expense, which is a non-cash item, is being recognized in the Company’s financial statements over the vesting period of each restricted stock grant.
	Restricted stock compensation expense was $131,000 and $127,000 for the three month periods ended September 30, 2014 and 2013, respectively.
	A summary of changes in restricted stock awards during the three month period ended September 30, 2014 is as follows:
		2012 Plan				2006 Plan
				Weighted				Weighted
				Average				Average
				Grant Date				Grant Date
		Shares		Fair Value		Shares		Fair Value
	Unvested restricted stock awards outstanding at June 30, 2014		33,950	$	18.51		60,800	$	12.47
	Granted		34,000	$	16.94		-	$	-
	Vested		-6,350	$	18.47		-22,520	$	12.34
	Unvested restricted stock awards outstanding at September 30, 2014		61,600	$	17.65		38,280	$	12.55
	At the effective time of the Merger with Teledyne, if consummated, each share of unvested restricted stock will vest and will automatically convert into the right to receive $22.00 in cash.

Stockholders_Equity

Stockholders' Equity	3 Months Ended
	Sep. 30, 2014
Stockholders Equity Note [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
	Note 10 - Stockholders’ Equity
	Changes in issued Common Stock and Stockholders’ Equity for the three month period ended September 30, 2014 were as follows:
		Common Stock				Treasury Stock				Retained
		Shares		Amount		Shares		Amount		Earnings		Total
	Balance June 30, 2014		8,878,049	$	33,207,000		202,075	$	-1,926,000	$	41,114,000	$	72,395,000
	Restricted stock grants		34,000		—		—		—		—		—
	Stock based compensation expense		—		176,000		—		—		—		176,000
	Tax benefit from vested restricted stock		—		37,000		—		—		—		37,000
	Net loss		—		—		—		—		-570,000		-570,000
	Dividends ($0.09 per share)		—		—		—		—		-784,000		-784,000
	Balance September 30, 2014		8,912,049	$	33,420,000		202,075	$	-1,926,000	$	39,760,000	$	71,254,000
	At September 30, 2014 and June 30, 2014, 20,000,000 shares of Common Stock, no par value, were authorized. The Merger Agreement with Teledyne prohibits the Company from repurchasing any shares pursuant to the existing repurchase authorization prior to the earlier of the consummation of the Merger or the termination of the Merger Agreement. The Company declared a dividend of $0.09 per common share on August 13, 2014, which was paid on October 2, 2014 to stockholders of record on September 3, 2014. The Merger Agreement with Teledyne prohibits the Company from declaring any further dividends prior to the earlier of the consummation of the Merger or the termination of the Merger Agreement.

Concentrations_and_Contingenci

Concentrations and Contingencies	3 Months Ended
	Sep. 30, 2014
Risks and Uncertainties [Abstract]	'
Concentrations and Contingencies [Text Block]	'
	Note 11 – Concentrations and Contingencies
	Concentration of Credit Risk:
	Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash, cash equivalents and trade accounts receivable. The Company maintains substantial cash and cash equivalent balances with various financial institutions in amounts that exceed the limit of FDIC insurance and with several non-banking U.S. corporations that are not insured or guaranteed. The Company believes that the risk of loss associated with cash and cash equivalents is remote. The Company believes that the concentration of credit risk in its trade receivables is substantially mitigated by the Company’s ongoing credit evaluation and its short collection terms. The Company does not generally require collateral from its customers but, in certain cases, the Company does require customers to provide a letter of credit or an advance payment. In limited cases, the Company will grant customers extended payment terms of up to 12 months. The Company establishes an allowance for uncollectible accounts based upon factors surrounding the credit risk of specific customers. Historically, the Company has not incurred significant credit related losses.
	Litigation:
	From time to time the Company is a party to routine litigation and proceedings that are considered part of the ordinary course of business. The Company is not aware of any material current or pending litigation except for four Connecticut class action suits, relating to the proposed Merger with Teledyne.
	Between September 10, 2014 and September 24, 2014, five substantially similar putative class action complaints were filed in the Superior Court of the State of Connecticut naming the Company, the members of the Company’s board of directors, Teledyne, and a Teledyne merger subsidiary (“Merger Sub”) as defendants. The complaints alleged that the members of the Company’s board of directors breached their fiduciary duties to Bolt’s shareholders by agreeing to sell Bolt for inadequate and unfair consideration and pursuant to an inadequate and unfair process, and that Teledyne and/or Merger Sub aided and abetted those alleged breaches. Teledyne and/or Merger Sub removed all five cases to Federal Court. On October 23, 2014, amended complaints were filed in four of the cases. On October 16, 2014, the court consolidated all of the cases identified above into Armin Walker v. Bolt Technology Corporation et al., C.A. No. 3:14-cv-01406, (the “Action”). On October 31, 2014, one of the five plaintiffs voluntarily dismissed her case, leaving four consolidated cases in the Action. On November 3, 2014, the Federal Court remanded the Action to state court in Connecticut, which also had the effect of returning the cases to four separate cases (the “Cases”). On November 10, 2014, one of the remaining four plaintiffs withdrew his case, leaving a total of three separate Cases.
	On November 10, 2014, the Company, the members of the Company’s board of directors, Teledyne, and Merger Sub entered into a memorandum of understanding (“MOU”) with the plaintiffs in the three pending Cases providing for the settlement of all claims in the Cases. Under the MOU, and subject to conditions, including court approval and further definitive documentation, the plaintiffs on behalf of the putative class they represent have agreed to settle and release, against the defendants and their affiliates and agents, all claims in the Action and Cases and any potential claim related to (i) the Merger and/or the Merger Agreement, or any amendment thereto; (ii) the adequacy of the consideration to be paid to the Company’s shareholders in connection with the Merger; (iii) the fiduciary obligations of any of the defendants or other released parties in connection with the Merger and/or the Merger Agreement, or any amendment thereto; (iv) the negotiations in connection with and process leading to the Merger and/or the Merger Agreement, or any amendment thereto; and (v) the disclosures or disclosure obligations of any of the defendants or other released parties in connection with the Merger and/or the Merger Agreement.
	The settlement provides for the Company to file additional disclosures supplementing its Definitive Proxy Statement, which disclosures will be filed as soon as the MOU is executed by all of the parties. The settlement will be subject to approval by the Connecticut Superior Court, after a hearing at which dissenting stockholders can object. The settlement application to the court will include an application for payment by defendants of plaintiffs’ legal fees. The amount of such legal fees is undetermined at this time. The Company anticipates that its D&O insurance will cover any such payments, subject to any applicable deductible.

Segment_Information

Segment Information	3 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Segment Reporting Disclosure [Text Block]	'
	Note 12 – Segment Information
	The Company has four reportable segments aligned with each of the Company’s product lines in accordance with ASC 280, “Segment Reporting.”
	The following table provides selected financial information for each reportable segment for the three month periods ended September 30, 2014 and 2013:
		Seismic		Underwater		Seismic		Underwater		Corporate		Consolidated
		Energy		Cables &		Energy		Robotic		Headquarters &
		Sources		Connectors		Source		Vehicles		Eliminations
						Controllers
	Three Months Ended September 30, 2014
	Sales to external customers	$	3,670,000	$	2,456,000	$	313,000	$	5,474,000	$	—	$	11,913,000
	Intersegment sales		149,000		97,000		170,000		—		-416,000		—
	Depreciation and amortization		73,000		77,000		25,000		239,000		5,000		419,000
	Income (loss) before income taxes		544,000		454,000		-201,000		1,285,000		-2,308,000		-226,000
	Fixed asset additions		74,000		12,000		43,000		44,000		—		173,000
	Three Months Ended September 30, 2013
	Sales to external customers	$	6,278,000	$	5,146,000	$	1,662,000	$	3,122,000	$	—	$	16,208,000
	Intersegment sales		380,000		177,000		291,000		—		-848,000		—
	Depreciation and amortization		69,000		75,000		17,000		234,000		5,000		400,000
	Income (loss) before income taxes		1,279,000		2,129,000		871,000		220,000		-971,000		3,528,000
	Fixed asset additions		97,000		29,000		51,000		4,000		—		181,000
	Balance Sheet Data at September 30, 2014
	Segment assets	$	18,871,000	$	15,262,000	$	5,627,000	$	24,614,000	$	18,216,000	$	82,590,000
	Goodwill		—		7,679,000		3,278,000		6,270,000		—		17,227,000
	Other intangible assets		117,000		—		289,000		5,563,000		—		5,969,000
	Balance Sheet Data at June 30, 2014
	Segment assets	$	19,927,000	$	17,010,000	$	5,970,000	$	22,591,000	$	18,165,000	$	83,663,000
	Goodwill		—		7,679,000		3,278,000		6,270,000		—		17,227,000
	Other intangible assets		117,000		—		297,000		5,758,000		—		6,172,000
	The Company does not allocate income taxes to the segments.

Description_of_Business_and_Si1

Description of Business and Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Consolidation, Policy [Policy Text Block]	'
	Principles of Consolidation
	The Consolidated Financial Statements (Unaudited) include the accounts of Bolt Technology Corporation and its subsidiary companies. All significant intercompany balances and transactions have been eliminated.
Cash and Cash Equivalents, Policy [Policy Text Block]	'
	Cash and Cash Equivalents
	The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents.
Inventory, Policy [Policy Text Block]	'
	Inventories
	Inventories are valued at the lower of cost or market, with cost principally determined on an average cost method that approximates the first-in, first-out method. The Company maintains an inventory valuation reserve to provide for slow moving and obsolete inventory. Amounts are charged to the reserve when the Company scraps or disposes of inventory.
Goodwill and Intangible Assets, Policy [Policy Text Block]	'
	Goodwill, Intangible Assets with Indefinite Lives and Other Long-Lived Assets
	Goodwill represents the unamortized excess cost over the value of net assets acquired in business combinations. The Financial Accounting Standards Board guidance for testing goodwill for impairment provides the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the estimated fair value of a reporting unit is less than its carrying amount. If an entity elects to perform a qualitative assessment and determines that an impairment is more likely than not, the entity is then required to perform a two-step quantitative impairment test, otherwise no further analysis is required. An entity also may elect not to perform the qualitative assessment and, instead, proceed directly to the two-step quantitative impairment test. The ultimate outcome of the goodwill impairment review for a reporting unit should be the same whether an entity chooses to perform the qualitative assessment or proceeds directly to the two-step quantitative impairment test.
	The Company conducted an assessment of qualitative factors regarding the A-G reporting unit at June 30, 2014. The qualitative assessment indicated no impairment of the A-G goodwill balance at June 30, 2014.
	For the RTS reporting unit, the Company performed the quantitative impairment test at June 30, 2014 using the capitalized cash flow method and the market price method. The impairment test for the RTS reporting unit indicated no impairment of the goodwill balance at June 30, 2014.
	For the SBX reporting unit, the Company performed the quantitative test at December 31, 2013 using the capitalized cash flow method and the market price method, as well as the discounted cash flow method, and the test indicated no impairment of the goodwill balance. The Company’s review of the SBX goodwill balance at June 30, 2014 did not result in any indicators of impairment.
	The Company reviewed A-G, RTS and SBX goodwill as of September 30, 2014 and no indicators of impairment were identified.
	Intangible assets with indefinite lives must be tested annually or more frequently if there are indicators of impairment, to determine if events and circumstances still justify the carrying value of such asset. The test consists of a comparison of the fair value of the asset to its carrying amount. If the carrying amount exceeds the fair value, an impairment loss is recognized equal to the excess of the carrying amount over the fair value. Any such loss would be recognized in the period in which the impairment arose. The SBX intangible asset with an indefinite life was tested for impairment at December 31, 2013 and the test indicated no impairment.
	The Company reviewed the RTS and SBX intangible assets with indefinite lives at September 30, 2014 and June 30, 2014 and no indicators of impairment were identified.
	The Company’s other long-lived assets consist of property, plant and equipment, other intangible assets with definite lives and other non-current assets. The Company reviews these assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The carrying amount is considered impaired when anticipated undiscounted cash flows expected to result from the use of the asset and its eventual disposition is less than its carrying amount. The Company’s reviews as of June 30, 2014 and September 30, 2014 did not identify any indicators of impairment.
Use of Estimates, Policy [Policy Text Block]	'
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of financial statements, and the reported amounts of revenues and expenses during the reporting period. The most critical estimates made by the Company are those relating to inventory reserves, the potential impairment of goodwill and intangible assets with indefinite lives, other long-lived assets impairment, valuation of acquisitions, contingent earnout liability and realization of deferred tax assets. Actual results could differ from those estimates.
Valuation Of Acquisition [Policy Text Block]	'
	Valuation of Acquisitions
	The Company allocates the amounts it pays for each acquisition to the assets it acquires and the liabilities it assumes based on estimated fair values at acquisition date. The Company determines the estimated fair values of identifiable intangible assets based on detailed valuations that use historical information and market assumptions. The Company allocates any excess purchase price over the fair value of the net tangible and intangible assets acquired to goodwill. The use of different valuation assumptions, including estimated cash flows and discount rates, or different estimated useful life assumptions could result in different purchase price allocations and intangible asset amortization expense in current and future periods.
Contingent Liability Reserve Estimate, Policy [Policy Text Block]	'
	Contingent Earnout Liability
	In the SBX acquisition, the Company is obligated under an earnout arrangement to make cash payments to the former SBX stockholders if certain revenue and gross profit margin thresholds are achieved. The Company recorded a contingent earnout liability at the acquisition date at its estimated fair value, which takes into account the range and probability of projected future revenues of the acquired entity over the earnout period. The Company revalues the contingent earnout liability at the close of each accounting period and records any change in the estimated fair value in the Consolidated Statement of Income as adjustment of contingent earnout liability.
	Increases or decreases in the fair value of the SBX contingent earnout liability can result from changes in assumed revenues, probabilities of achieving revenue and gross profit margin thresholds and discount rates. Significant judgment is used in determining the appropriateness of fair value assumptions at the acquisition date and in subsequent periods. As a result, actual contingent earnout payments can differ from estimates, and the differences could be material.
Earnings Per Share, Policy [Policy Text Block]	'
	Computation of Earnings Per Share
	Basic (loss) earnings per share is computed by dividing net (loss) income by the weighted average number of common shares outstanding during the period. Diluted (loss) earnings per share is computed by dividing net (loss) income by the weighted average number of common shares outstanding during the period including common share equivalents (which includes stock option grants and restricted stock awards) assuming dilution. Unvested shares of restricted stock are included in computing basic (loss) earnings per share because they contain rights to receive non-forfeitable dividends.
	The following is a reconciliation of basic (loss) earnings per share to diluted (loss) earnings per share for the three month periods ended September 30, 2014 and 2013:
		Three Months Ended
		September 30,
		2014		2013
	Net (loss) income available to common stockholders	$	-570,000	$	2,363,000
	Divided by:
	Weighted average common shares		8,694,083		8,643,400
	Weighted average common share equivalents		-		10,026
	Total weighted average common shares and common share equivalents		8,694,083		8,653,426
	Basic (loss) earnings per share	$	-0.07	$	0.27
	Diluted (loss) earnings per share	$	-0.07	$	0.27
	For the three month period ended September 30, 2014, the calculations do not include options to acquire 70,876 shares, since the inclusion of these shares would have been anti-dilutive. For the three month period ended September 30, 2013, the calculation included all options to acquire shares because they were all dilutive.
New Accounting Pronouncements, Policy [Policy Text Block]	'
	Recent Accounting Developments
	None.

Description_of_Business_and_Si2

Description of Business and Significant Accounting Policies (Tables)	3 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
	The following is a reconciliation of basic (loss) earnings per share to diluted (loss) earnings per share for the three month periods ended September 30, 2014 and 2013:
		Three Months Ended
		September 30,
		2014		2013
	Net (loss) income available to common stockholders	$	-570,000	$	2,363,000
	Divided by:
	Weighted average common shares		8,694,083		8,643,400
	Weighted average common share equivalents		-		10,026
	Total weighted average common shares and common share equivalents		8,694,083		8,653,426
	Basic (loss) earnings per share	$	-0.07	$	0.27
	Diluted (loss) earnings per share	$	-0.07	$	0.27

SeaBotix_Inc_Acquisition_Table

SeaBotix Inc. Acquisition (Tables)	3 Months Ended
	Sep. 30, 2014
Business Combinations [Abstract]	'
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	'
	The total purchase price paid or accrued consisted of the following:
	Cash paid	$	9,500,000
	Accrual for contingent earnout payments		5,000,000
	Accrual for holdback and pro forma working capital adjustment		1,560,000
	Total purchase price	$	16,060,000
	The final purchase price allocation was as follows:
	Net current assets, including cash acquired of $316,000 and accounts receivable of $1,342,000	$	4,963,000
	Non-current assets (mainly property and equipment)		796,000
	Goodwill		6,270,000
	Other intangible assets		8,500,000
	Accounts payable and accrued expenses		-1,010,000
	Debt assumed		-539,000
	Deferred tax liability (non-current)		-2,920,000
	Total purchase price allocation	$	16,060,000
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]	'
	Set forth below is a summary of the activity in the contingent earnout liability (all amounts represent fair values) from the date of closing to September 30, 2014:
		Contingent
		Earnout
		Liability
	Balance at closing	$	5,000,000
	Earnout paid in fiscal year 2011		-2,000,000
	Balance at June 30, 2011		3,000,000
	Earnout paid in fiscal year 2012		-2,500,000
	Increase to contingent earnout liability in June 2012		4,500,000
	Balance at June 30, 2012		5,000,000
	Earnout paid in fiscal year 2013		-2,185,000
	Increase to contingent earnout liability in June 2013		500,000
	Balance at June 30, 2013		3,315,000
	Earnout paid in fiscal year 2014		-3,005,000
	Increase to contingent earnout liability in December 2013		1,500,000
	Increase to contingent earnout liability in June 2014		1,000,000
	Balance at September 30, 2014 and June 30, 2014	$	2,810,000

Inventories_Tables

Inventories (Tables)	3 Months Ended
	Sep. 30, 2014
Inventory Disclosure [Abstract]	'
Schedule of Inventory, Current [Table Text Block]	'
	Inventories consist of the following:
		September 30,		June 30,
		2014		2014
	Raw materials and sub-assemblies	$	19,022,000	$	18,077,000
	Work-in-process		3,580,000		3,429,000
			22,602,000		21,506,000
	Less – Reserve for inventory valuation		-763,000		-694,000
		$	21,839,000	$	20,812,000

Goodwill_Tables

Goodwill (Tables)	3 Months Ended
	Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Schedule of Goodwill [Table Text Block]	'
	The composition of the net goodwill balance at September 30, 2014 and June 30, 2014 is as follows:
	A-G	$	7,679,000
	RTS		3,278,000
	SBX		6,270,000
		$	17,227,000

Income_Taxes_Tables

Income Taxes (Tables)	3 Months Ended
	Sep. 30, 2014
Income Tax Disclosure [Abstract]	'
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	'
	A reconciliation of the federal statutory rate to the effective tax rate reflected in the total provision for income taxes for the three month periods ended September 30 is as follows:
		2014			2013
	Federal statutory rate		-34	%		34	%
	Exempt income from domestic manufacturer’s deduction		-15			-3
	Non-deductible expenses:
	Merger expense		213			-
	Other		6			1
	State taxes		-13			1
	All other, net		-5			-
	Effective tax rate		152	%		33	%

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]	'
	Set forth below is a summary of liabilities that are measured at fair value on a recurring basis based on the three-level valuation hierarchy:
		Quoted		Significant		Significant		Total
		Market Prices		Other		Unobservable
		for		Observable		Inputs
		Identical		Inputs		(Level 3)
		Assets		(Level 2)
		(Level 1)
	Liabilities
	At September 30, 2014 — Contingent earnout liability	$	—	$	—	$	2,810,000	$	2,810,000
	At June 30, 2014 — Contingent earnout liability	$	—	$	—	$	2,810,000	$	2,810,000

Stock_Options_and_Restricted_S1

Stock Options and Restricted Stock (Tables)	3 Months Ended
	Sep. 30, 2014
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]	'
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	'
	A summary of changes in stock options during the three month period ended September 30, 2014 is as follows:
		2012 Plan				2006 Plan
				Weighted				Weighted
				Average				Average
				Exercise				Exercise
		Shares		Price		Shares		Price
	Options outstanding at June 30, 2014		105,200	$	18.62		53,400	$	12.33
	Granted		-	$	-		-	$	-
	Exercised		-	$	-		-	$	-
	Options outstanding at September 30, 2014		105,200	$	18.62		53,400	$	12.33
Schedule Of Share-Based Compensation, Other Than Stock Options, Activity [Table Text Block]	'
	A summary of changes in restricted stock awards during the three month period ended September 30, 2014 is as follows:
		2012 Plan				2006 Plan
				Weighted				Weighted
				Average				Average
				Grant Date				Grant Date
		Shares		Fair Value		Shares		Fair Value
	Unvested restricted stock awards outstanding at June 30, 2014		33,950	$	18.51		60,800	$	12.47
	Granted		34,000	$	16.94		-	$	-
	Vested		-6,350	$	18.47		-22,520	$	12.34
	Unvested restricted stock awards outstanding at September 30, 2014		61,600	$	17.65		38,280	$	12.55

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	3 Months Ended
	Sep. 30, 2014
Stockholders Equity Note [Abstract]	'
Schedule of Stockholders Equity [Table Text Block]	'
	Changes in issued Common Stock and Stockholders’ Equity for the three month period ended September 30, 2014 were as follows:
		Common Stock				Treasury Stock				Retained
		Shares		Amount		Shares		Amount		Earnings		Total
	Balance June 30, 2014		8,878,049	$	33,207,000		202,075	$	-1,926,000	$	41,114,000	$	72,395,000
	Restricted stock grants		34,000		—		—		—		—		—
	Stock based compensation expense		—		176,000		—		—		—		176,000
	Tax benefit from vested restricted stock		—		37,000		—		—		—		37,000
	Net loss		—		—		—		—		-570,000		-570,000
	Dividends ($0.09 per share)		—		—		—		—		-784,000		-784,000
	Balance September 30, 2014		8,912,049	$	33,420,000		202,075	$	-1,926,000	$	39,760,000	$	71,254,000

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Schedule of Segment Reporting Information, by Segment [Table Text Block]	'
	The following table provides selected financial information for each reportable segment for the three month periods ended September 30, 2014 and 2013:
		Seismic		Underwater		Seismic		Underwater		Corporate		Consolidated
		Energy		Cables &		Energy		Robotic		Headquarters &
		Sources		Connectors		Source		Vehicles		Eliminations
						Controllers
	Three Months Ended September 30, 2014
	Sales to external customers	$	3,670,000	$	2,456,000	$	313,000	$	5,474,000	$	—	$	11,913,000
	Intersegment sales		149,000		97,000		170,000		—		-416,000		—
	Depreciation and amortization		73,000		77,000		25,000		239,000		5,000		419,000
	Income (loss) before income taxes		544,000		454,000		-201,000		1,285,000		-2,308,000		-226,000
	Fixed asset additions		74,000		12,000		43,000		44,000		—		173,000
	Three Months Ended September 30, 2013
	Sales to external customers	$	6,278,000	$	5,146,000	$	1,662,000	$	3,122,000	$	—	$	16,208,000
	Intersegment sales		380,000		177,000		291,000		—		-848,000		—
	Depreciation and amortization		69,000		75,000		17,000		234,000		5,000		400,000
	Income (loss) before income taxes		1,279,000		2,129,000		871,000		220,000		-971,000		3,528,000
	Fixed asset additions		97,000		29,000		51,000		4,000		—		181,000
	Balance Sheet Data at September 30, 2014
	Segment assets	$	18,871,000	$	15,262,000	$	5,627,000	$	24,614,000	$	18,216,000	$	82,590,000
	Goodwill		—		7,679,000		3,278,000		6,270,000		—		17,227,000
	Other intangible assets		117,000		—		289,000		5,563,000		—		5,969,000
	Balance Sheet Data at June 30, 2014
	Segment assets	$	19,927,000	$	17,010,000	$	5,970,000	$	22,591,000	$	18,165,000	$	83,663,000
	Goodwill		—		7,679,000		3,278,000		6,270,000		—		17,227,000
	Other intangible assets		117,000		—		297,000		5,758,000		—		6,172,000

Description_of_Business_and_Si3

Description of Business and Significant Accounting Policies (Details) (USD $)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Description Of Business And Significant Accounting Policies [Line Items]	'	'
Net (loss) income available to common stockholders	($570,000)	$2,363,000
Weighted average common shares (in shares)	8,694,083	8,643,400
Weighted average common share equivalents (in shares)	0	10,026
Total weighted average common shares and common share equivalents (in shares)	8,694,083	8,653,426
Basic (loss) earnings per share (in dollars per share)	($0.07)	$0.27
Diluted (loss) earnings per share (in dollars per share)	($0.07)	$0.27

Description_of_Business_and_Si4

Description of Business and Significant Accounting Policies (Details Textual)	3 Months Ended
	Sep. 30, 2014
Description Of Business And Significant Accounting Policies [Line Items]	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	70,876

Merger_Details_Textual

Merger (Details Textual) (USD $)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 03, 2014
Business Combinations [Line Items]	'	'	'
Business Acquisition, Share Price	'	'	$22
Payments for Fees	$7,500,000	'	'
Business Acquisition, Transaction Costs	1,000,000	'	'
Noncash Merger Related Costs	$1,417,000	$0	'

SeaBotix_Inc_Acquisition_Detai

SeaBotix Inc. Acquisition (Details) (USD $)	Sep. 30, 2014
Business Combination, Separately Recognized Transactions [Line Items]	'
Cash paid	$9,500,000
Accrual for contingent earnout payments	5,000,000
Accrual for holdback and pro forma working capital adjustment	1,560,000
Total purchase price	16,060,000
Net current assets, including cash acquired of $316,000 and accounts receivable of $1,342,000	4,963,000
Non-current assets (mainly property and equipment)	796,000
Goodwill	6,270,000
Other intangible assets	8,500,000
Accounts payable and accrued expenses	-1,010,000
Debt assumed	-539,000
Deferred tax liability (non-current)	-2,920,000
Total purchase price allocation	$16,060,000

SeaBotix_Inc_Acquisition_Detai1

SeaBotix Inc. Acquisition (Details 1) (USD $)	6 Months Ended		12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011	Sep. 30, 2014
Business Acquisition, Contingent Consideration [Line Items]	'	'	'	'	'	'	'
Balance, Opening	'	$3,315,000	$3,315,000	$5,000,000	$3,000,000	$5,000,000	$2,810,000
Earnout paid	'	'	-3,005,000	-2,185,000	-2,500,000	-2,000,000	'
Increase to contingent earnout liability	1,000,000	1,500,000	'	500,000	4,500,000	'	'
Balance, Ending	$2,810,000	'	$2,810,000	$3,315,000	$5,000,000	$3,000,000	$2,810,000

SeaBotix_Inc_Acquisition_Detai2

SeaBotix Inc. Acquisition (Details Textual) (USD $)	3 Months Ended
	Sep. 30, 2014
Business Acquisition [Line Items]	'
Cash Acquired from Acquisition	$316,000
Noncash or Part Noncash Acquisition, Accounts Receivable Acquired	$1,342,000
Business Acquisition Description Of Contingent Consideration	'Earnout payments equal to 15.5% of annual gross revenues are payable if SBX generates annual gross revenues in excess of $10,000,000 and maintains a certain gross profit percentage for calendar year 2014. If the Company estimates that it is more likely than not that these future earnout payments will exceed $2,810,000, the Company would have to increase the contingent earnout liability by the anticipated additional amount of the earnout payments.

Inventories_Details

Inventories (Details) (USD $)	Sep. 30, 2014	Jun. 30, 2014
Inventory [Line Items]	'	'
Raw materials and sub-assemblies	$19,022,000	$18,077,000
Work-in-process	3,580,000	3,429,000
Inventory, Gross	22,602,000	21,506,000
Less - Reserve for inventory valuation	-763,000	-694,000
Inventory, Net	$21,839,000	$20,812,000

Inventories_Details_Textual

Inventories (Details Textual) (Inventory Valuation Reserve [Member], USD $)	3 Months Ended
	Sep. 30, 2014
Inventory Valuation Reserve [Member]	'
Inventory [Line Items]	'
Valuation Allowances and Reserves, Recoveries	$69,000

Goodwill_Details

Goodwill (Details) (USD $)	Sep. 30, 2014	Jun. 30, 2014
Goodwill [Line Items]	'	'
Goodwill	$17,227,000	$17,227,000
A-G [Member]	'	'
Goodwill [Line Items]	'	'
Goodwill	7,679,000	'
RTS [Member]	'	'
Goodwill [Line Items]	'	'
Goodwill	3,278,000	'
SBX [Member]	'	'
Goodwill [Line Items]	'	'
Goodwill	$6,270,000	'

Goodwill_Details_Textual

Goodwill (Details Textual)	Sep. 30, 2014
Goodwill [Line Items]	'
Percentage Of Goodwill On Assets	21.00%

Income_Taxes_Details

Income Taxes (Details)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Federal statutory rate	-34.00%	34.00%
Exempt income from domestic manufacturerbs deduction	-15.00%	-3.00%
Non-deductible expenses:	'	'
Merger expense	213.00%	0.00%
Other	6.00%	1.00%
State taxes	-13.00%	1.00%
All other, net	-5.00%	0.00%
Effective tax rate	152.00%	33.00%

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Sep. 30, 2014	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2010
Business Acquisition, Contingent Consideration [Line Items]	'	'	'	'	'	'
Contingent earnout liability	$2,810,000	$2,810,000	$3,315,000	$5,000,000	$3,000,000	$5,000,000
Fair Value, Inputs, Level 1 [Member]	'	'	'	'	'	'
Business Acquisition, Contingent Consideration [Line Items]	'	'	'	'	'	'
Contingent earnout liability	0	0	'	'	'	'
Fair Value, Inputs, Level 2 [Member]	'	'	'	'	'	'
Business Acquisition, Contingent Consideration [Line Items]	'	'	'	'	'	'
Contingent earnout liability	0	0	'	'	'	'
Fair Value, Inputs, Level 3 [Member]	'	'	'	'	'	'
Business Acquisition, Contingent Consideration [Line Items]	'	'	'	'	'	'
Contingent earnout liability	$2,810,000	$2,810,000	'	'	'	'

Stock_Options_and_Restricted_S2

Stock Options and Restricted Stock (Details) (USD $)	3 Months Ended
	Sep. 30, 2014
Plan 2012 [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Options outstanding - Number of shares - Beginning balance	105,200
Granted - Number of shares	0
Exercised - Number of shares	0
Options outstanding - Number of shares - Ending balance	105,200
Options outstanding - Weighted Average Exercise Price - Beginning balance	$18.62
Granted - Weighted Average Exercise Price	$0
Exercised - Weighted Average Exercise Price	$0
Options outstanding - Weighted Average Exercise Price - Ending balance	$18.62
Plan 2006 [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Options outstanding - Number of shares - Beginning balance	53,400
Granted - Number of shares	0
Exercised - Number of shares	0
Options outstanding - Number of shares - Ending balance	53,400
Options outstanding - Weighted Average Exercise Price - Beginning balance	$12.33
Granted - Weighted Average Exercise Price	$0
Exercised - Weighted Average Exercise Price	$0
Options outstanding - Weighted Average Exercise Price - Ending balance	$12.33

Stock_Options_and_Restricted_S3

Stock Options and Restricted Stock (Details 2) (USD $)	3 Months Ended
	Sep. 30, 2014
Plan 2012 [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Unvested restricted stock awards outstanding - Number of shares - Beginning balance	33,950
Granted - Number of shares	34,000
Vested - Number of shares	-6,350
Unvested restricted stock awards outstanding - Number of shares - Ending balance	61,600
Unvested restricted stock awards outstanding - Weighted Average Grant Date Fair Value - Beginning balance	$18.51
Granted - Weighted Average Grant Date Fair Value	$16.94
Vested - Weighted Average Grant Date Fair Value	$18.47
Unvested restricted stock awards outstanding - Weighted Average Grant Date Fair Value - Ending balance	$17.65
Plan 2006 [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Unvested restricted stock awards outstanding - Number of shares - Beginning balance	60,800
Granted - Number of shares	0
Vested - Number of shares	-22,520
Unvested restricted stock awards outstanding - Number of shares - Ending balance	38,280
Unvested restricted stock awards outstanding - Weighted Average Grant Date Fair Value - Beginning balance	$12.47
Granted - Weighted Average Grant Date Fair Value	$0
Vested - Weighted Average Grant Date Fair Value	$12.34
Unvested restricted stock awards outstanding - Weighted Average Grant Date Fair Value - Ending balance	$12.55

Stock_Options_and_Restricted_S4

Stock Options and Restricted Stock (Details Textual) (USD $)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 03, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Stock or Unit Option Plan Expense	$45,000	$47,000	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	862,000	'	'
Restricted Stock or Unit Expense	131,000	127,000	'
Stock Issued During Period, Shares, Restricted Stock Award, Gross	34,000	29,500	'
Business Acquisition, Share Price	'	'	$22
One Year Period [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares	'	1,500	'
five-year period [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares	'	28,000	'
Plan 2012 [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	750,000	'	'
Plan 2012 [Member] | Non-Employee Director [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures (in shares)	3,000	'	'
Restricted Stock [Member]	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Allocated Share-based Compensation Expense	$576,000	$546,000	'

Stockholders_Equity_Details

Stockholders' Equity (Details) (USD $)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Balance	$72,395,000	'
Restricted stock grants	0	'
Restricted stock grants (in shares)	34,000	29,500
Stock based compensation expense	176,000	'
Tax benefit from vested restricted stock	37,000	'
Net loss	-570,000	2,363,000
Dividends ($0.09 per share)	-784,000	'
Balance	71,254,000	'
Common Stock [Member]	'	'
Balance	33,207,000	'
Balance (in shares)	8,878,049	'
Restricted stock grants	0	'
Restricted stock grants (in shares)	34,000	'
Stock based compensation expense	176,000	'
Tax benefit from vested restricted stock	37,000	'
Net loss	0	'
Dividends ($0.09 per share)	0	'
Balance	33,420,000	'
Balance (in shares)	8,912,049	'
Treasury Stock [Member]	'	'
Balance	-1,926,000	'
Balance (in shares)	202,075	'
Restricted stock grants	0	'
Restricted stock grants (in shares)	0	'
Stock based compensation expense	0	'
Tax benefit from vested restricted stock	0	'
Net loss	0	'
Dividends ($0.09 per share)	0	'
Balance	-1,926,000	'
Balance (in shares)	202,075	'
Retained Earnings [Member]	'	'
Balance	41,114,000	'
Restricted stock grants	0	'
Stock based compensation expense	0	'
Tax benefit from vested restricted stock	0	'
Net loss	-570,000	'
Dividends ($0.09 per share)	-784,000	'
Balance	$39,760,000	'

Stockholders_Equity_Details_Te

Stockholders' Equity (Details Textual) (USD $)	Sep. 30, 2014	Jun. 30, 2014
Common stock, shares authorized	20,000,000	20,000,000
Dividends Payable, Amount Per Share	$0.09	'

Concentrations_and_Contingenci1

Concentrations and Contingencies (Details Textual)	3 Months Ended
	Sep. 30, 2014
Concentration Risk [Line Items]	'
Extended Term Of Payment	'12 years

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Jun. 30, 2014
Segment Reporting Information [Line Items]	'	'	'
Sales to external customers	$11,913,000	$16,208,000	'
Depreciation and amortization	419,000	400,000	'
Income (loss) before income taxes	-226,000	3,528,000	'
Segment assets	82,590,000	'	83,663,000
Goodwill	17,227,000	'	17,227,000
Seismic Energy Sources [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sales to external customers	3,670,000	6,278,000	'
Intersegment sales	149,000	380,000	'
Depreciation and amortization	73,000	69,000	'
Income (loss) before income taxes	544,000	1,279,000	'
Fixed asset additions	74,000	97,000	'
Segment assets	18,871,000	'	19,927,000
Goodwill	0	'	0
Other intangible assets	117,000	'	117,000
Underwater Cables and Connectors [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sales to external customers	2,456,000	5,146,000	'
Intersegment sales	97,000	177,000	'
Depreciation and amortization	77,000	75,000	'
Income (loss) before income taxes	454,000	2,129,000	'
Fixed asset additions	12,000	29,000	'
Segment assets	15,262,000	'	17,010,000
Goodwill	7,679,000	'	7,679,000
Other intangible assets	0	'	0
Seismic Energy Source Controllers [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sales to external customers	313,000	1,662,000	'
Intersegment sales	170,000	291,000	'
Depreciation and amortization	25,000	17,000	'
Income (loss) before income taxes	-201,000	871,000	'
Fixed asset additions	43,000	51,000	'
Segment assets	5,627,000	'	5,970,000
Goodwill	3,278,000	'	3,278,000
Other intangible assets	289,000	'	297,000
Underwater Robotic Vehicles [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sales to external customers	5,474,000	3,122,000	'
Intersegment sales	0	0	'
Depreciation and amortization	239,000	234,000	'
Income (loss) before income taxes	1,285,000	220,000	'
Fixed asset additions	44,000	4,000	'
Segment assets	24,614,000	'	22,591,000
Goodwill	6,270,000	'	6,270,000
Other intangible assets	5,563,000	'	5,758,000
Corporate Headquarters and Eliminations [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sales to external customers	0	0	'
Intersegment sales	-416,000	-848,000	'
Depreciation and amortization	5,000	5,000	'
Income (loss) before income taxes	-2,308,000	-971,000	'
Fixed asset additions	0	0	'
Segment assets	18,216,000	'	18,165,000
Goodwill	0	'	0
Other intangible assets	0	'	0
Consolidated [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Sales to external customers	11,913,000	16,208,000	'
Intersegment sales	0	0	'
Depreciation and amortization	419,000	400,000	'
Income (loss) before income taxes	-226,000	3,528,000	'
Fixed asset additions	173,000	181,000	'
Segment assets	82,590,000	'	83,663,000
Goodwill	17,227,000	'	17,227,000
Other intangible assets	$5,969,000	'	$6,172,000