EVI Industries (EVI) 10-Q 11 Feb 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 31, 2018	Feb. 01, 2019
Document And Entity Information
Entity Registrant Name	EVI Industries, Inc.
Entity Central Index Key	65,312
Document Type	10-Q
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		11,556,421
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,019

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Revenues	$ 60,841	$ 36,135	$ 104,216	$ 62,408
Cost of sales	47,164	27,904	80,817	48,190
Gross profit	13,677	8,231	23,399	14,218
Selling, general and administrative expenses	11,575	6,023	19,865	11,027
Operating income	2,102	2,208	3,534	3,191
Interest expense, net	374	117	539	183
Income before provision for income taxes	1,728	2,091	2,995	3,008
Provision for income taxes	463	581	934	935
Net income	$ 1,265	$ 1,510	$ 2,061	$ 2,073
Net earnings per share - basic	$ 0.10	$ 0.13	$ 0.17	$ 0.18
Net earnings per share - diluted	$ 0.10	$ 0.13	$ 0.16	$ 0.18

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
Current assets
Cash and cash equivalents	$ 10,173	$ 1,330
Accounts receivable, net of allowance for doubtful accounts of $308 and $233, respectively	30,556	16,026
Inventories, net	23,316	15,350
Vendor deposits	843	606
Contract assets	49	1,012
Other current assets	3,156	2,050
Total current assets	68,093	36,374
Equipment and improvements, net	4,394	2,983
Intangible assets, net	20,157	15,775
Goodwill	47,977	37,061
Other assets	3,919	3,281
Total assets	144,540	95,474
Current liabilities
Accounts payable and accrued expenses	17,617	11,742
Accrued employee expenses	3,711	4,248
Customer deposits	9,305	11,624
Contract liabilities	2,816	259
Current portion of long-term debt		1,195
Total current liabilities	33,449	29,068
Deferred tax liabilities, net	933	558
Long-term debt, net	37,545	8,817
Total liabilities	71,927	38,443
Commitments and contingencies (Note 11)
Shareholders' equity
Preferred stock, $1.00 par value; authorized shares - 200,000; none issued and outstanding
Common stock, $.025 par value; authorized shares - 20,000,000; 11,556,421 shares issued at December 31, 2018 and 11,239,656 shares issued at June 30, 2018, including shares held in treasury	290	281
Additional paid-in capital	65,440	49,950
Retained earnings	7,953	7,511
Treasury stock, 62,809 shares at December 31, 2018 and 52,686 June 30, 2018, at cost	(1,070)	(711)
Total shareholders' equity	72,613	57,031
Total liabilities and shareholders' equity	$ 144,540	$ 95,474

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
Statement of Financial Position [Abstract]
Accounts and trade notes receivable, allowance for doubtful accounts	$ 308	$ 233
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	200,000	200,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.025	$ 0.025
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	11,556,421	11,239,656
Treasury stock, shares	62,809	52,686

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Operating activities:
Net income	$ 2,061	$ 2,073
Adjustments to reconcile net income to net cash (used) provided by operating activities:
Depreciation and amortization	1,255	547
Amortization of debt discount	68	9
Provision for bad debt expense	104	18
Share-based compensation	838	773
Inventory reserve	91	67
Provision (benefit) for deferred income taxes	131	(12)
(Increase) decrease in operating assets:
Accounts receivable	(10,985)	491
Inventories	(3,347)	(804)
Vendor deposits	(237)	781
Contract assets	963	(2,181)
Other assets	(1,492)	(430)
Increase (decrease) in operating liabilities:
Accounts payable and accrued expenses	2,402	(4,140)
Accrued employee expenses	(907)	385
Customer deposits	(3,357)	3,505
Contract liabilities	2,557	(674)
Net cash (used) provided by operating activities	(9,855)	408
Investing activities:
Capital expenditures	(1,200)	(116)
Cash paid for acquisitions, net of cash acquired	(7,231)	(6,177)
Net cash used by investing activities	(8,431)	(6,293)
Financing activities:
Proceeds from borrowings	99,963	33,434
Debt repayments	(72,235)	(26,788)
Payment of debt issuance costs	(263)
Repurchases of common stock in satisfaction of employee tax withholding obligations	(359)	(303)
Issuances of common stock	23
Net cash provided by financing activities	27,129	6,343
Net increase in cash and cash equivalents	8,843	458
Cash and cash equivalents at beginning of period	1,330	727
Cash and cash equivalents at end of period	10,173	1,185
Supplemental disclosures of cash flow information:
Cash paid during the period for interest	387	143
Cash paid during the period for income taxes	1,117	855
Supplemental disclosure of non-cash financing activities
Common stock issued for acquisitions	14,633	9,028
Dividends payable	$ 1,619	$ 1,403

General

General	6 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	Note (1) - General: The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements and the instructions to Form 10-Q and Article 10 of Regulation S-X related to interim period financial statements. Accordingly, the accompanying unaudited condensed consolidated financial statements do not include certain information and footnotes required by GAAP for complete financial statements. However, in management’s opinion, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting only of normal recurring accruals and adjustments) which are necessary in order to state fairly the Company’s results of operations, financial position and cash flows as of and for the periods presented. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year or any other future period. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes, including the Summary of Significant Accounting Policies, included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2018. The June 30, 2018 balance sheet information contained herein was derived from the audited consolidated financial statements as of that date included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2018. The preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The estimates and assumptions made may not prove to be correct, and actual results could differ from the estimates. Certain prior period amounts in the accompanying unaudited condensed consolidated financial statements have been reclassified in order to be comparable to the current period’s classifications. These reclassifications had no effect on previously reported net income. The Company, through its wholly-owned subsidiaries, is a distributor that generates revenues by selling, leasing or renting, through its extensive sales organization, commercial, industrial and vended laundry, dry-cleaning, and material handling equipment, steam and hot water boilers, water reuse and filtration systems, and related replacement parts and accessories. Additionally, the Company designs, plans, and installs turn-key laundry, dry cleaning, boiler, and water filtration systems and provides maintenance services through its robust technical service organization. The Company’s customers include retail, commercial, industrial, institutional, and government customers. Purchases and orders by customers range from parts, accessories and maintenance services, to single or multiple units of equipment, to large complex systems. Prior to the completion of the Company’s first acquisition pursuant to its “buy-and-build” growth strategy, the Company’s operations consisted solely of the business and operations of Steiner-Atlantic Corp. (“Steiner-Atlantic”), a wholly-owned subsidiary of the Company. Beginning in 2015, the Company implemented a “buy-and-build” growth strategy and has since completed ten acquisitions under such growth strategy, including, five acquisitions consummated during the six months ended December 31, 2018 (as described in further detail in Note 3) and one acquisition consummated during February 2019 (as described in further detail in Note 13). The financial position, including assets and liabilities, and results of operations of the acquired businesses following the respective closing dates are included in the Company’s consolidated financial statements. In addition to the activities described above, the Company, through an indirect wholly-owned subsidiary, also owns the worldwide rights to the name DRYCLEAN USA® and licenses the right to use such name for a fee to retail dry cleaners in the United States, the Caribbean and Latin America.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note (2) – Summary of Significant Accounting Policies: Adoption of New Revenue Standard In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“Topic 606”). Topic 606 supersedes the revenue requirements in ASU Topic 605, “Revenue Recognition” ("Topic 605"), and requires the recognition of revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. The new standard also includes Subtopic 340-40, “Other Assets and Deferred Costs - Contracts with Customers” (“Subtopic 340-40”), which discusses the deferral of incremental costs of obtaining a contract with a customer, including the period of amortization of such costs. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenues and cash flows arising from contracts with customers. Collectively, the Company refers to Topic 606 and Subtopic 340-40 as the "New Revenue Standard." The Company adopted the New Revenue Standard on July 1, 2018 using the modified retrospective approach. The New Revenue Standard did not have an impact on the amount and timing of the Company’s revenue recognition through July 1, 2018. Results for reporting periods beginning on and after July 1, 2018 are presented under the New Revenue Standard, while prior period amounts are not adjusted and continue to be reported under the accounting standards in effect for those periods. Revenue Recognition Performance Obligations Revenue primarily consists of revenues from the sale or leasing of commercial and industrial laundry and dry cleaning equipment and steam and hot water boilers manufactured by others; the sale of related replacement parts and accessories; and, to a lesser extent, the provision of installation and maintenance services. The Company generates revenue primarily from the sale of finished products to customers. Therefore, the majority of the Company’s contracts are short-term in nature and have a single performance obligation (to deliver products), and the Company’s performance obligation is satisfied when control of the product is transferred to the customer. Other contracts contain a combination of equipment sales and services expected to be performed in the near-term, which services are distinct and accounted for as separate performance obligations. Revenue is recognized on these contracts when control transfers to the Company’s customers via shipment of products or provision of services and the Company has the right to receive consideration for these products and services. Additionally, from time to time, the Company enters into longer-termed contracts which provide for the sale of the equipment by the Company and the provision by the Company of related installation and construction services. The installation on these types of contracts is usually completed within six to twelve months. These longer-term contracts have a single performance obligation where revenue is recognized over time. The Company measures revenue as the amount of consideration it expects to be entitled to receive in exchange for its goods or services, net of any taxes collected from customers and subsequently remitted to governmental authorities. Costs associated with shipping and handling activities performed after the customer obtains control are accounted for as fulfillment costs. Revenue from products transferred to customers at a point in time include commercial and vended laundry parts and equipment sales and accounted for approximately 80% and 81% of the Company’s revenue for the three and six months ended December 31, 2018, respectively. Revenue from products transferred to customers at a point in time is recognized when obligations under the terms of the contract with the Company’s customer are satisfied, which generally occurs with the transfer of control upon shipment. Revenues that are recognized over time include (i) longer-termed contracts that include equipment purchase with installation and construction services, (ii) maintenance contracts, and (iii) ad hoc maintenance and installation service contracts. Revenue from products and services that are recognized over time accounted for approximately 20% and 19% of the Company’s revenue for the three and six months ended December 31, 2018, respectively. Contract Assets and Liabilities Contract assets and liabilities are presented in the Company’s Condensed Consolidated Balance Sheets. Contract assets consist of unbilled amounts resulting from sales under longer-term contracts when the cost-to-cost method of revenue recognition is utilized and revenue recognized exceeds the amount billed to the customer. The Company typically receives progress payments on sales under longer-term contracts as work progresses, although for some contracts, the Company may be entitled to receive an advance payment. Contract liabilities consist of advanced payments, billings in excess of costs incurred and deferred revenue. Significant Accounting Policies Except for the New Revenue Standard adopted on July 1, 2018, there have been no changes to the Company’s significant accounting policies from those described in Note 1 to the Company’s audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2018.

Acquisitions

Acquisitions	6 Months Ended
	Dec. 31, 2018
Business Combinations [Abstract]
Acquisitions	Note (3) – Acquisitions SEI Acquisition On September 12, 2018, the Company completed the acquisition (the “SEI Acquisition”) of Scott Equipment Inc. (“SEI”), a Texas-based distributor of commercial, industrial, and vended laundry products and provider of installation and maintenance services to the new and replacement segments of the commercial, industrial and vended laundry industry, pursuant to which the Company, indirectly through its newly-formed wholly-owned subsidiary, Scott Equipment Inc. (“Scott Equipment”), purchased substantially all of the assets of SEI for a purchase price consisting of approximately $6,500,000 in cash and 209,678 shares of the Company’s common stock. The Company funded the cash consideration with borrowings under its credit facility at the time of the SEI Acquisition. Fees and expenses related to the SEI Acquisition, consisting primarily of legal and other professional fees, totaled approximately $65,000 and are classified as selling, general and administrative expenses in the Company’s condensed consolidated statement of operations for the three and six months ended December 31, 2018. The Company, indirectly through Scott Equipment, also assumed certain of the liabilities of SEI. The total purchase price for accounting purposes was $15.9 million, which included cash acquired of $2.8 million. The SEI Acquisition was treated for accounting purposes as a purchase of SEI using the acquisition method of accounting in accordance with ASC 805, Business Combinations Purchase price consideration: Cash consideration, net of cash acquired (a) $ 3,709 Stock consideration (b) 9,436 Total purchase price consideration, net of cash acquired $ 13,145 (a)Includes $6,500,000 paid net of $2.8 million of cash acquired. (b)Calculated as 209,678 shares of the Company’s common stock, multiplied by $45.00, the closing price of the Company’s common stock on the closing date. Allocation of purchase price consideration: Accounts receivable $ 2,658 Inventory 1,595 Other assets 99 Property, plant and equipment 376 Intangible assets 3,100 Accounts payable and accrued expenses (734 ) Customer deposits (398 ) Total identifiable net assets 6,696 Goodwill 6,449 Total $ 13,145 The Company is continuing its valuation of the net assets acquired, which are subject to adjustment in accordance with the Asset Purchase Agreement. Accordingly, the purchase price allocation set forth above reflects preliminary fair value estimates based on preliminary work and analyses performed by management and is subject to change as additional information to assist in determining the fair value of the net assets acquired at the closing date is obtained during the post-closing measurement period of up to one year. The Company is also still assessing certain working capital items. Intangible assets consist of $1.3 million allocated to the Scott Equipment trade name and $1.8 million allocated to customer-related intangible assets. The Scott Equipment trade name is indefinite-lived and therefore not subject to amortization. The Scott Equipment trade name will be evaluated for impairment annually or more frequently if an event occurs or circumstances change that indicate it may be impaired, by comparing its fair value to its carrying amount to determine if a write-down to fair value is required. Customer-related intangible assets will be amortized over 10 years. Goodwill is expected to be amortized and deductible for tax purposes over 15 years. Goodwill is attributable primarily to the assembled workforce acquired, as well as benefits from the increased scale of the Company as a result of the SEI Acquisition. Other Acquisitions In addition to the SEI Acquisition, during the six months ended December 31, 2018, the Company completed the acquisition of four other companies (Industrial Laundry Services, Inc. on September 4, 2018, Washington Automated, Inc. on November 6, 2018, Skyline Equipment, Inc. on November 14, 2018 and Worldwide Laundry, Inc. on November 16, 2018), each of which is a distributor of commercial, industrial, and vended laundry products and a provider of installation and maintenance services to the new and replacement segments of the commercial, industrial and vended laundry industry. Three of these acquisitions were completed by the Company, indirectly through a newly-formed wholly-owned subsidiary, which purchased substantially all of the assets and assumed certain of the liabilities of the acquired entity. The other acquisition was effected by a merger of the acquired entity with and into a newly-formed wholly-owned subsidiary of the Company. The total consideration for these four transactions consisted of $3.5 million in cash, net of $738,000 of cash acquired, and 141,000 shares of the Company’s common stock. The Company funded the cash consideration of each acquisition with credit facility borrowings. Each acquisition was treated for accounting purposes as a purchase of the acquired business using the acquisition method of accounting in accordance with ASC 805, Business Combinations Supplemental Pro Forma Results of Operations The following unaudited supplemental pro forma information presents the results of operations of the Company, after giving effect to the SEI Acquisition and the four other acquisitions noted above, as if the Company had completed each such acquisition on July 1, 2017, but using the preliminary estimates of the fair values of the assets acquired and liabilities assumed as of the respective closing dates of the acquisitions. These unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operations of the Company would have been if the acquisitions had occurred on the date assumed, nor are they indicative of future results of operations. For the six months ended (in thousands) 2018 2017 Revenues $ 115,599 $ 83,744 Net income 2,532 2,937 See also Note 13 for information regarding the Company’s acquisition of PAC Industries, Inc., which was completed on February 5, 2019.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Share	Note (4) - Earnings Per Share: For the six months ended For the three months ended 2018 2017 2018 2017 Net income $ 2,061 $ 2,073 $ 1,265 $ 1,510 Less: distributed and undistributed 148 154 91 112 Net income allocated to $ 1,913 $ 1,919 $ 1,174 $ 1,398 Weighted average shares 11,364 10,585 11,492 10,702 Dilutive common share 506 377 474 372 Weighted average shares 11,870 10,962 11,966 11,074 Basic earnings per share $ 0.17 $ 0.18 $ 0.10 $ 0.13 Diluted earnings per share $ 0.16 $ 0.18 $ 0.10 $ 0.13 At December 31, 2018 and 2017, other than 896,777 shares and 873,636 shares, respectively, of unvested common stock subject to restricted stock awards or restricted stock units, there were no potentially dilutive securities outstanding.

Debt

Debt	6 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Debt	Note (5) - Debt: December 31, June 30, Term Loan $ — $ 6,375 Revolving Credit Facility/Line of Credit 37,800 3,697 Less: unamortized discount and deferred financing costs (255 ) (60 ) Total debt, net 37,545 10,012 Less: current maturities of long-term debt — (1,195 ) Total long-term debt $ 37,545 $ 8,817 On November 2, 2018, the Company entered into a Credit Agreement (the “2018 Credit Agreement”) for a five-year revolving credit facility in the maximum aggregate principal amount of up to $100 million, with an accordion feature to increase the revolving credit facility by up to $40 million for a total of $140 million. A portion of the revolving credit facility is available for swingline loans of up to a sublimit of $5 million and for the issuance of standby letters of credit of up to a sublimit of $10 million. Borrowings (other than swingline loans) under the 2018 Credit Agreement bear interest at a rate, at the Company’s election at the time of borrowing, equal to (a) LIBOR plus a margin that ranges between 1.25% and 1.75% depending on the Company’s consolidated leverage ratio, which is a ratio of consolidated funded indebtedness to consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) (the “Consolidated Leverage Ratio”) or (b) the highest of (i) prime, (ii) the federal funds rate plus 50 basis points, and (iii) the one month LIBOR rate plus 100 basis points (such highest rate, the “Base Rate”), plus a margin that ranges between 0.25% and 0.75% depending on the Consolidated Leverage Ratio. Swingline loans bear interest calculated at the Base Rate plus a margin that ranges between 0.25% and 0.75% depending on the Consolidated Leverage Ratio. The 2018 Credit Agreement has a term of five-years and matures on November 2, 2023. The 2018 Credit Agreement contains certain covenants, including financial covenants requiring the Company to comply with maximum leverage ratios and minimum interest coverage ratios. The 2018 Credit Agreement also contains other provisions which may restrict the Company’s ability to, among other things, dispose of or acquire assets or businesses, incur additional indebtedness, make certain investments and capital expenditures, pay dividends, repurchase shares and enter into transactions with affiliates. At December 31, 2018, the Company was in compliance with its covenants under the 2018 Credit Agreement and $12.8 million was available to borrow under the revolving credit facility. The obligations of the Company under the 2018 Credit Agreement are secured by substantially all of the assets of the Company and certain of its subsidiaries, and are guaranteed, jointly and severally, by certain of the Company’s subsidiaries. Prior to entering into the 2018 Credit Agreement, the Company had a credit facility (the “Prior Credit Facility”) with another lender, which included a revolving line of credit of up to $20.0 million (subject to a cap determined using an asset-based formula), and a term loan. In connection with its entry into the 2018 Credit Agreement on November 2, 2018, the Company repaid all outstanding amounts under, and terminated, the Prior Credit Facility.

Income Taxes

Income Taxes	6 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Note (6) - Income Taxes: Income taxes are recorded in the Company’s quarterly financial statements based on the Company’s estimated annual effective income tax rate, subject to adjustment for discrete events, should they occur. As of December 31, 2018 and June 30, 3018, the Company had net deferred tax liabilities of approximately $933,000 and $558,000, respectively. Consistent with the guidance of the FASB regarding accounting for income taxes, the Company regularly estimates its ability to recover deferred tax assets and establishes a valuation allowance against deferred tax assets to reduce the balance to amounts expected to be recoverable. This evaluation includes the consideration of several factors, including an estimate of the likelihood of generating sufficient taxable income in future periods over which temporary differences reverse, the expected reversal of deferred tax liabilities, past and projected taxable income and available tax planning strategies. As of December 31, 2018, management believed that it was more-likely-than-not that the results of future operations will generate sufficient taxable income to realize the net amount of the Company’s deferred tax assets over the periods during which temporary differences reverse. The Company follows ASC Topic 740-10-25, “Accounting for Uncertainty in Income Taxes” (“ASC 740”). ASC 740 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. During the three and six months ended December 31, 2018 and 2017, the Company’s accounting for income taxes in accordance with this standard did not result in any adjustment to the Company’s provision for income taxes. As of December 31, 2018, the Company was subject to potential federal and state tax examinations for the tax years 2015 through 2018.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Dec. 31, 2018
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Note (7) – Shareholders’ Equity: On December 12, 2017, the Company’s Board of Directors declared a cash dividend on the Company’s common stock of $0.12 per share (an aggregate of $1.4 million), which was paid on January 9, 2018 to stockholders of record at the close of business on December 26, 2017.

Equity Incentive Plan

Equity Incentive Plan	6 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity Incentive Plan	Note (8) – Equity Incentive Plan: The following is a summary of non-vested restricted stock activity as of and for the six months ended December 31, 2018: Restricted Stock Awards Restricted Stock Units Shares Weighted- Shares Weighted- Non-vested awards or units outstanding at June 30, 2018 903,102 $ 18.41 — $ — Granted 6,845 36.53 15,000 35.40 Vested (28,170 ) 15.38 — — Forfeited — — — — Non-vested awards or units outstanding at December 31, 2018 881,777 $ 18.65 15,000 $ 35.40 Employee Stock Purchase Plan The Company’s employee stock purchase plan commenced on July 1, 2018 and provides for six-month offering periods, the first of which expired on December 31, 2018. During the three and six months ended December 31, 2018, 726 shares of common stock were issued under the Company’s employee stock purchase plan for which the Company received net proceeds of $23,000.

Transactions with Related Parti

Transactions with Related Parties	6 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Transactions with Related Parties	Note (9) – Transactions with Related Parties: On October 10, 2016, the Company’s wholly-owned subsidiary, Western State Design, Inc. (“Western State Design”), entered into a lease agreement pursuant to which it leases 17,600 square feet of warehouse and office space from an affiliate of Dennis Mack, a director and Executive Vice President, Corporate Strategy of the Company, and Tom Marks, Executive Vice President, Business Development of the Company. Monthly base rental payments are $12,000 during the initial term of the lease. In addition to base rent, Western State Design is responsible under the lease for costs related to real estate taxes, utilities, maintenance, repairs and insurance. The lease has an initial term of five years and provides for two successive three-year renewal terms at the option of the Company. Payments under this lease totaled approximately $72,000 during each of the six months ended December 31, 2018 and 2017. On October 31, 2017, the Company’s wholly-owned subsidiary, Tri-State Technical Services, Inc. (“Tri-State”), entered into lease agreements pursuant to which it leases a total of 81,000 square feet of warehouse and office space from an affiliate of Matt Stephenson, President of Tri-State. Monthly base rental payments total $21,000 during the initial terms of the leases. In addition to base rent, Tri-State is responsible under the leases for costs related to real estate taxes, utilities, maintenance, repairs and insurance. Each lease has an initial term of five years and provides for two successive three-year renewal terms at the option of the Company. Payments under these leases totaled approximately $126,000 during the six months ended December 31, 2018 and $41,000 during the period from October 31, 2017 through December 31, 2017. On February 9, 2018, the Company’s wholly-owned subsidiary, AAdvantage Laundry Systems, Inc. (“AAdvantage”), entered into a lease agreement pursuant to which it leases a total of 5,000 square feet of warehouse and office space from an affiliate of Mike Zuffinetti, Chief Executive Officer of AAdvantage. Monthly base rental payments are $3,950 during the initial term of the lease. In addition to base rent, AAdvantage is responsible under the lease for costs related to real estate taxes, utilities, maintenance, repairs and insurance. The lease has an initial term of five years and provides for two successive three-year renewal terms at the option of the Company. In addition, during February 2018, AAdvantage entered into a month-to-month lease agreement with an affiliate of Mike Zuffinetti for a total of 17,000 square feet of warehouse and office space. Monthly base rental payments under this lease were $13,500. This month-to-month lease was terminated on October 31, 2018. In addition, on November 1, 2018, AAdvantage entered into a lease agreement pursuant to which it leases warehouse and office space from an affiliate of Mike Zuffinetti. Monthly base rental payments were $26,000 initially. Pursuant to the lease agreement, on January 1, 2019, the lease expanded to cover an additional 15,000 square feet of warehouse space (for a total of 47,500 square feet of warehouse and office space), and monthly base rental payments increased to $36,000. In addition to base rent, AAdvantage is responsible under the lease for costs related to real estate taxes, utilities, maintenance, repairs and insurance. The lease has an initial term of five years and provides for two successive three-year renewal terms at the option of the Company. Payments under all of the leases described in this paragraph totaled approximately $130,000 during the six months ended December 31, 2018. On September 12, 2018, the Company’s wholly-owned subsidiary, Scott Equipment, entered into lease agreements pursuant to which it leases a total of 18,000 square feet of warehouse and office space from an affiliate of Scott Martin, President of Scott Equipment. Monthly base rental payments total $11,000 during the initial terms of the leases. In addition to base rent, Scott Equipment is responsible under the leases for costs related to real estate taxes, utilities, maintenance, repairs and insurance. Each lease has an initial term of five years and provides for two successive three-year renewal terms at the option of the Company. Payments under these leases totaled approximately $44,000 during the six months ended December 31, 2018.

Recently Issued Accounting Guid

Recently Issued Accounting Guidance	6 Months Ended
	Dec. 31, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recently Issued Accounting Guidance	Note (10) – Recently Issued Accounting Guidance In January 2017, the FASB issued ASU No. 2017-04, “Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment,” which is designed to simplify the subsequent measurement of goodwill. The new guidance will eliminate the second step from the goodwill impairment test required in computing the implied fair value of goodwill. Instead, under the new guidance, an entity will be required to perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and, if applicable, the entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the charge recognized should not exceed the total amount of goodwill allocated to that reporting unit. If applicable, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when performing the goodwill impairment test. The amendments in this guidance are effective for public business entities for annual and interim goodwill impairment tests performed in fiscal years beginning after December 15, 2019 (the fiscal year ending June 30, 2021 for the Company), with early adoption permitted. The Company is currently evaluating the impact that adopting this guidance may have on its consolidated financial statements. Other than as described above, management does not believe that accounting standards and updates which have been issued but are not yet effective will have a material impact on the Company’s consolidated financial position, results of operations or cash flows upon adoption.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note (11) – Commitments and Contingencies

Goodwill

Goodwill	6 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Note (12) – Goodwill Balance at June 30, 2018 $ 37,061 Goodwill from the SEI Acquisition 6,449 Goodwill from the other acquisitions (as described in Note 3) 4,467 Balance at December 31, 2018 $ 47,977

Subsequent Events

Subsequent Events	6 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Note (13) – Subsequent Events On February 5, 2019, the Company acquired PAC Industries, Inc. (“PAC Industries”), pursuant to a merger whereby PAC Industries merged with and into, and became, a wholly-owned subsidiary of the Company. PAC Industries is a Pennsylvania-based distributor of commercial, industrial, and vended laundry products and provider of installation and maintenance services to the new and replacement segments of the commercial, industrial and vended laundry industry. The consideration paid by the Company in connection with the merger consisted of cash and stock totaling $13.1 million.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Adoption of New Revenue Standard	Adoption of New Revenue Standard In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“Topic 606”). Topic 606 supersedes the revenue requirements in ASU Topic 605, “Revenue Recognition” ("Topic 605"), and requires the recognition of revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. The new standard also includes Subtopic 340-40, “Other Assets and Deferred Costs - Contracts with Customers” (“Subtopic 340-40”), which discusses the deferral of incremental costs of obtaining a contract with a customer, including the period of amortization of such costs. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenues and cash flows arising from contracts with customers. Collectively, the Company refers to Topic 606 and Subtopic 340-40 as the "New Revenue Standard." The Company adopted the New Revenue Standard on July 1, 2018 using the modified retrospective approach. The New Revenue Standard did not have an impact on the amount and timing of the Company’s revenue recognition through July 1, 2018. Results for reporting periods beginning on and after July 1, 2018 are presented under the New Revenue Standard, while prior period amounts are not adjusted and continue to be reported under the accounting standards in effect for those periods.
Revenue Recognition	Revenue Recognition Performance Obligations Revenue primarily consists of revenues from the sale or leasing of commercial and industrial laundry and dry cleaning equipment and steam and hot water boilers manufactured by others; the sale of related replacement parts and accessories; and, to a lesser extent, the provision of installation and maintenance services. The Company generates revenue primarily from the sale of finished products to customers. Therefore, the majority of the Company’s contracts are short-term in nature and have a single performance obligation (to deliver products), and the Company’s performance obligation is satisfied when control of the product is transferred to the customer. Other contracts contain a combination of equipment sales and services expected to be performed in the near-term, which services are distinct and accounted for as separate performance obligations. Revenue is recognized on these contracts when control transfers to the Company’s customers via shipment of products or provision of services and the Company has the right to receive consideration for these products and services. Additionally, from time to time, the Company enters into longer-termed contracts which provide for the sale of the equipment by the Company and the provision by the Company of related installation and construction services. The installation on these types of contracts is usually completed within six to twelve months. These longer-term contracts have a single performance obligation where revenue is recognized over time. The Company measures revenue as the amount of consideration it expects to be entitled to receive in exchange for its goods or services, net of any taxes collected from customers and subsequently remitted to governmental authorities. Costs associated with shipping and handling activities performed after the customer obtains control are accounted for as fulfillment costs. Revenue from products transferred to customers at a point in time include commercial and vended laundry parts and equipment sales and accounted for approximately 80% and 81% of the Company’s revenue for the three and six months ended December 31, 2018, respectively. Revenue from products transferred to customers at a point in time is recognized when obligations under the terms of the contract with the Company’s customer are satisfied, which generally occurs with the transfer of control upon shipment. Revenues that are recognized over time include (i) longer-termed contracts that include equipment purchase with installation and construction services, (ii) maintenance contracts, and (iii) ad hoc maintenance and installation service contracts. Revenue from products and services that are recognized over time accounted for approximately 20% and 19% of the Company’s revenue for the three and six months ended December 31, 2018, respectively. Contract Assets and Liabilities Contract assets and liabilities are presented in the Company’s Condensed Consolidated Balance Sheets. Contract assets consist of unbilled amounts resulting from sales under longer-term contracts when the cost-to-cost method of revenue recognition is utilized and revenue recognized exceeds the amount billed to the customer. The Company typically receives progress payments on sales under longer-term contracts as work progresses, although for some contracts, the Company may be entitled to receive an advance payment. Contract liabilities consist of advanced payments, billings in excess of costs incurred and deferred revenue.
Significant Accounting Policies	Significant Accounting Policies Except for the New Revenue Standard adopted on July 1, 2018, there have been no changes to the Company’s significant accounting policies from those described in Note 1 to the Company’s audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2018.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Dec. 31, 2018
Business Acquisition [Line Items]
Schedule of Supplemental Pro Forma Results of Operations	These unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operations of the Company would have been if the acquisitions had occurred on the date assumed, nor are they indicative of future results of operations. For the six months ended (in thousands) 2018 2017 Revenues $ 115,599 $ 83,744 Net income 2,532 2,937
SEI Technical Services [Member]
Business Acquisition [Line Items]
Schedule of Purchase Price	The computation of the purchase price consideration and the preliminary allocation of the consideration to the net assets acquired are presented in the following tables (in thousands): Purchase price consideration: Cash consideration, net of cash acquired (a) $ 3,709 Stock consideration (b) 9,436 Total purchase price consideration, net of cash acquired $ 13,145 (a)Includes $6,500,000 paid net of $2.8 million of cash acquired. (b)Calculated as 209,678 shares of the Company’s common stock, multiplied by $45.00, the closing price of the Company’s common stock on the closing date.
Schedule of Allocation of Purchase Price Consideration	Allocation of purchase price consideration: Accounts receivable $ 2,658 Inventory 1,595 Other assets 99 Property, plant and equipment 376 Intangible assets 3,100 Accounts payable and accrued expenses (734 ) Customer deposits (398 ) Total identifiable net assets 6,696 Goodwill 6,449 Total $ 13,145

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Share	Basic and diluted earnings per share for the six and three months ended December 31, 2018 and 2017 are computed as follows (in thousands, except per share data): For the six months ended For the three months ended 2018 2017 2018 2017 Net income $ 2,061 $ 2,073 $ 1,265 $ 1,510 Less: distributed and undistributed 148 154 91 112 Net income allocated to $ 1,913 $ 1,919 $ 1,174 $ 1,398 Weighted average shares 11,364 10,585 11,492 10,702 Dilutive common share 506 377 474 372 Weighted average shares 11,870 10,962 11,966 11,074 Basic earnings per share $ 0.17 $ 0.18 $ 0.10 $ 0.13 Diluted earnings per share $ 0.16 $ 0.18 $ 0.10 $ 0.13

Debt (Tables)

Debt (Tables)	6 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of Long-term debt	Long-term debt as of December 31, 2018 and June 30, 2018 are as follows (in thousands): December 31, June 30, Term Loan $ — $ 6,375 Revolving Credit Facility/Line of Credit 37,800 3,697 Less: unamortized discount and deferred financing costs (255 ) (60 ) Total debt, net 37,545 10,012 Less: current maturities of long-term debt — (1,195 ) Total long-term debt $ 37,545 $ 8,817

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	6 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Non-vested Restricted Stock Activity	The following is a summary of non-vested restricted stock activity as of and for the six months ended December 31, 2018: Restricted Stock Awards Restricted Stock Units Shares Weighted- Shares Weighted- Non-vested awards or units outstanding at June 30, 2018 903,102 $ 18.41 — $ — Granted 6,845 36.53 15,000 35.40 Vested (28,170 ) 15.38 — — Forfeited — — — — Non-vested awards or units outstanding at December 31, 2018 881,777 $ 18.65 15,000 $ 35.40

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Carrying Amount of Goodwill	The changes in the carrying amount of goodwill are as follows (in thousands): Balance at June 30, 2018 $ 37,061 Goodwill from the SEI Acquisition 6,449 Goodwill from the other acquisitions (as described in Note 3) 4,467 Balance at December 31, 2018 $ 47,977

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - Revenue [Member]	3 Months Ended	6 Months Ended
	Dec. 31, 2018	Dec. 31, 2018
Revenue from products transferred to customers at point in time [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	80.00%	81.00%
Revenues that are recognized over time [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	20.00%	19.00%

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) - USD ($)	Sep. 12, 2018	Dec. 31, 2018
SEI Technical Services [Member]
Business Acquisition [Line Items]
Cash Consideration	$ 6,500,000
Stock Consideration	209,678
Acquisition legal and other professional fees		$ 65,000
Total purchase price for accounting purposes		15,900,000
Cash acquired		$ 2,800,000
Closing price		$ 45
SEI Technical Services [Member] | Goodwill [Member]
Business Acquisition [Line Items]
Amortized life		15 years
SEI Technical Services [Member] | Customer-related intangible assets [Member]
Business Acquisition [Line Items]
Finite lived intangible assets acquired	$ 1,800,000
Amortized life		10 years
SEI Technical Services [Member] | Trade Names [Member]
Business Acquisition [Line Items]
Indefinite lived intangible assets acquired	$ 1,300,000
Other Acquisition [Member]
Business Acquisition [Line Items]
Cash Consideration		$ 3,500,000
Stock Consideration		141,000
Cash acquired		$ 738,000
Other Acquisition [Member] | Customer-related intangible assets [Member]
Business Acquisition [Line Items]
Finite lived intangible assets acquired		1,300,000
Other Acquisition [Member] | Trade Names [Member]
Business Acquisition [Line Items]
Indefinite lived intangible assets acquired		690,000
Other Acquisition [Member] | Goodwill [Member]
Business Acquisition [Line Items]
Finite lived intangible assets acquired		$ 4,400,000

Acquisitions (Schedule of Purch

Acquisitions (Schedule of Purchase Price) (Details) - USD ($) $ in Thousands		6 Months Ended
		Dec. 31, 2018	Dec. 31, 2017
Purchase price consideration:
Cash consideration, net of cash acquired		$ 7,231	$ 6,177
SEI Technical Services [Member]
Purchase price consideration:
Cash consideration, net of cash acquired	[1]	3,709
Stock consideration	[2]	9,436
Total purchase price, net of cash acquired		$ 13,145
[1]	Includes $6,500,000 paid net of $2.8 million of cash acquired.
[2]	Calculated as 209,678 shares of the Company's common stock, multiplied by $45.00, the closing price of the Company's common stock on the closing date.

Acquisitions (Schedule of Alloc

Acquisitions (Schedule of Allocation of purchase price consideration) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
Allocation of purchase price consideration:
Goodwill	$ 47,977	$ 37,061
SEI Technical Services [Member]
Allocation of purchase price consideration:
Accounts receivable	2,658
Inventory	1,595
Other assets	99
Property, plant and equipment	376
Intangible assets	3,100
Accounts payable and accrued expenses	(734)
Customer deposits	(398)
Total identifiable net assets	6,696
Goodwill	6,449
Total	$ 13,145

Acquisitions (Schedule of Suppl

Acquisitions (Schedule of Supplemental Pro Forma Results of Operations) (Details) - Tri-State Technical Services [Member] - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Revenues	$ 115,599	$ 83,744
Net income	$ 2,532	$ 2,937

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details)	6 Months Ended
	Dec. 31, 2018shares
Restricted stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive securities outstanding	896,777
Restricted stock units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive securities outstanding	873,636

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Net income	$ 1,265	$ 1,510	$ 2,061	$ 2,073
Less: distributed and undistributed income allocated to unvested restricted common stock	91	112	148	154
Net income allocated to EVI Industries, Inc. shareholders	$ 1,174	$ 1,398	$ 1,913	$ 1,919
Weighted average shares outstanding used in basic earnings per share	11,492	10,702	11,364	10,585
Dilutive common share equivalents	474	372	506	377
Weighted average shares outstanding used in diluted earnings per share	11,966	11,074	11,870	10,962
Basic earnings per share	$ 0.10	$ 0.13	$ 0.17	$ 0.18
Diluted earnings per share	$ 0.10	$ 0.13	$ 0.16	$ 0.18

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($) $ in Thousands	Nov. 02, 2018	Dec. 31, 2018	Jun. 30, 2018
Debt Instrument [Line Items]
Revolving line of credit facility amount outstanding		$ 37,800	$ 3,697
Debt outstanding		37,545	$ 10,012
Credit facility [Member]
Debt Instrument [Line Items]
Revolving line of credit facility maximum borrowing capacity	$ 100,000	20,000
Revolving line of credit facility amount outstanding	$ 40,000
Debt outstanding		$ 5,000
Basis of variable interest rate		LIBOR plus a margin that ranges between 1.25% and 1.75% depending on the Company’s consolidated leverage ratio, which is a ratio of consolidated funded indebtedness to consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) (the “Consolidated Leverage Ratio”) or (b) the highest of (i) prime, (ii) the federal funds rate plus 50 basis points, and (iii) the one month LIBOR rate plus 100 basis points (such highest rate, the “Base Rate”), plus a margin that ranges between 0.25% and 0.75% depending on the Consolidated Leverage Ratio. Swingline loans bear interest calculated at the Base Rate plus a margin that ranges between 0.25% and 0.75% depending on the Consolidated Leverage Ratio.
Expiration date		Nov. 2, 2023
Credit facility term	5 years	5 years
Amount available for borrowing under the revolving line of credit facility		$ 12,800
Credit facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Revolving line of credit facility maximum borrowing capacity	$ 140,000
Revolving line of credit [Member]
Debt Instrument [Line Items]
Debt outstanding		$ 10,000

Debt (Schedule of Long-term deb

Debt (Schedule of Long-term debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
Debt Disclosure [Abstract]
Term Loan		$ 6,375
Revolving Credit Facility/Line of Credit	37,800	3,697
Less: unamortized discount and deferred financing costs	(255)	(60)
Total debt, net	37,545	10,012
Less: current maturities of long-term debt		(1,195)
Total long-term debt	$ 37,545	$ 8,817

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Deferred tax liabilities, net	$ 933	$ 558

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 11, 2018	Dec. 12, 2017	Dec. 31, 2018	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
Cash dividends declared	$ 0.13	$ 0.12
Dividends	$ 1,600	$ 1,400	$ 1,619	$ 1,403
Dividend paid date	Jan. 8, 2019	Jan. 9, 2018
Dividend record date	Dec. 26, 2018	Dec. 26, 2017

Equity Incentive Plan (Narrativ

Equity Incentive Plan (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized under 2015 Equity Incentive Plan	1,500,000		1,500,000
Awards granted under 2015 Equity Incentive Plan	6,845	8,982	6,845	8,982
Restricted stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, net of estimated forfeitures, related to non-vested restricted stock	$ 15,000,000		$ 15,000,000
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, net of estimated forfeitures, related to non-vested restricted stock	$ 527,000		$ 527,000
Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued under employee stock purchase plan	726		726
Proceeds from issuance	$ 23,000		$ 23,000

Equity Incentive Plan (Schedule

Equity Incentive Plan (Schedule of Non-vested Restricted Stock Activity) (Details)	6 Months Ended
	Dec. 31, 2018$ / sharesshares
Restricted stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested awards or units outstanding, beginning of period | shares	903,102
Granted | shares	6,845
Vested | shares	(28,170)
Forfeited | shares
Non-vested awards or units outstanding, end of period | shares	881,777
Weighted-average grant date fair value, beginning of period | $ / shares	$ 18.41
Granted | $ / shares	36.53
Vested | $ / shares	15.38
Forfeited | $ / shares
Weighted-average grant date fair value, end of period | $ / shares	$ 18.65
Restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested awards or units outstanding, beginning of period | shares
Granted | shares	15,000
Vested | shares
Forfeited | shares
Non-vested awards or units outstanding, end of period | shares	15,000
Weighted-average grant date fair value, beginning of period | $ / shares
Granted | $ / shares	35.40
Vested | $ / shares
Forfeited | $ / shares
Weighted-average grant date fair value, end of period | $ / shares	$ 35.40

Transactions with Related Par_2

Transactions with Related Parties (Details)	2 Months Ended	6 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2018USD ($)ft²	Dec. 31, 2017USD ($)	Jan. 02, 2019USD ($)ft²	Nov. 02, 2018USD ($)
Dennis Mack and Tom Marks [Member] | Western State Design [Member]
Related Party Transaction [Line Items]
Original lease term		5 years
Area of lease | ft²		17,600
Lease start date		Oct. 10, 2016
Annual rent payment, year one		$ 12,000
Rental expense		$ 72,000	$ 72,000
Matt Stephenson [Member] | Tri-State [Member]
Related Party Transaction [Line Items]
Original lease term		5 years
Area of lease | ft²		81,000
Lease start date		Oct. 31, 2017
Annual rent payment, year one		$ 21,000
Rental expense	$ 41,000	$ 126,000
Mike Zuffinetti [Member]
Related Party Transaction [Line Items]
Original lease term		5 years
Area of lease | ft²		17,000
Annual rent payment, year one		$ 13,500
Mike Zuffinetti [Member] | AAdvantage [Member]
Related Party Transaction [Line Items]
Original lease term		5 years
Area of lease | ft²		5,000
Annual rent payment, year one		$ 3,950			$ 26,000
Rental expense		$ 130,000
Mike Zuffinetti [Member] | AAdvantage [Member] | Subsequent Event [Member]
Related Party Transaction [Line Items]
Original lease term				5 years
Area of lease | ft²				15,000
Annual rent payment, year one				$ 36,000
Mike Zuffinetti [Member] | AAdvantage [Member] | Subsequent Event [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Area of lease | ft²				47,500
Scott Martin [Member] | Scott Equipment [Member]
Related Party Transaction [Line Items]
Original lease term		5 years
Area of lease | ft²		18,000
Annual rent payment, year one		$ 11,000
Rental expense		$ 44,000

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Outstanding performance and payment bonds	$ 9.4	$ 8.3
Estimated costs to complete projects secured by performance and payment bonds	$ 1.6	$ 4.4

Goodwill (Schedule of Carrying

Goodwill (Schedule of Carrying Amount of Goodwill) (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2018USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Balance, beginning	$ 37,061
Goodwill from the SEI Acquisition	6,449
Goodwill from the other acquisitions	4,467
Balance, ending	$ 47,977

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	Feb. 05, 2019USD ($)
Subsequent Event [Member] | PAC Industries [Member]
Subsequent Event [Line Items]
Consideration paid	$ 13.1