Napco Security (NSSC) 10-Q17 May 222022 Q3 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Mar. 31, 2022	May 17, 2022
Document And Entity Information
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2022
Entity File Number	0-10004
Entity Registrant Name	NAPCO SECURITY TECHNOLOGIES, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	11-2277818
Entity Address, Address Line One	333 Bayview Avenue
Entity Address, City or Town	Amityville
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11701
City Area Code	631
Local Phone Number	842-9400
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	NSSC
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000069633
Current Fiscal Year End Date	--06-30
Entity Common Stock, Shares Outstanding		36,733,540

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Jun. 30, 2021
CURRENT ASSETS
Cash and cash equivalents	$ 42,127	$ 34,806
Marketable securities	5,245	5,413
Accounts receivable, net of allowance for doubtful accounts of $226 at both March 31, 2022 and June 30, 2021, and other reserves	24,209	28,081
Inventories, net	35,101	24,933
Prepaid expenses and other current assets	2,726	2,408
Total Current Assets	109,408	95,641
Inventories - non-current, net	7,577	6,767
Property, plant and equipment, net	7,997	7,836
Intangible assets, net	4,398	4,691
Operating lease asset	7,356	7,373
Other assets	370	243
TOTAL ASSETS	137,106	122,551
CURRENT LIABILITIES
Accounts payable	9,935	6,095
Accrued expenses	8,223	6,582
Accrued salaries and wages	3,261	3,478
Current portion of long-term debt		2,386
Accrued income taxes	1,321	1,709
Total Current Liabilities	22,740	20,250
Long term debt, net of current portion		1,518
Deferred income taxes	369	380
Accrued income taxes	940	925
Long term operating lease liabilities	7,073	7,090
Total Liabilities	31,122	30,163
COMMITMENTS AND CONTINGENCIES (Note 13)
STOCKHOLDERS' EQUITY
Common Stock, par value $0.01 per share; 100,000,000 shares authorized as of March 31, 2022 (Note 10) and 80,000,000 shares authorized as of June 30, 2021; 39,627,255 and 39,595,883 shares issued; and 36,733,540 and 36,702,168 shares outstanding, respectively	396	396
Additional paid-in capital	19,735	18,201
Retained earnings	105,374	93,312
Less: Treasury Stock, at cost (2,893,715 shares)	(19,521)	(19,521)
TOTAL STOCKHOLDERS' EQUITY	105,984	92,388
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 137,106	$ 122,551

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Jun. 30, 2021
CONDENSED CONSOLIDATED BALANCE SHEETS
Allowance for doubtful	$ 226	$ 226
Common stock, par (per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	100,000,000	80,000,000
Common stock, issued (in shares)	39,627,255	39,595,883
Common stock, outstanding (in shares)	36,733,540	36,702,168
Treasury stock, shares	2,893,715	2,893,715

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)	3 Months Ended		9 Months Ended
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Net sales:
Revenues	$ 35,905,000	$ 28,228,000	$ 100,364,000	$ 78,606,000
Cost of sales:
Cost of sales	20,872,000	15,318,000	60,432,000	43,601,000
Gross Profit	15,033,000	12,910,000	39,932,000	35,005,000
Operating expenses:
Research and development	2,009,000	1,902,000	5,918,000	5,675,000
Selling, general, and administrative expenses	8,442,000	5,980,000	23,983,000	17,979,000
Total Operating Expenses			29,901,000	23,654,000
Operating Income	4,582,000	5,028,000	10,031,000	11,351,000
Other income (expense):
Interest and other income (expense), net	(177,000)	(44,000)	(102,000)	(53,000)
Income before Provision for Income Taxes	4,405,000	4,984,000	13,833,000	11,298,000
Provision for Income Taxes	1,132,000	624,000	1,771,000	1,422,000
Net Income	$ 3,273,000	$ 4,360,000	$ 12,062,000	$ 9,876,000
Income per share:
Basic (in dollars per share)	$ 0.09	$ 0.12	$ 0.33	$ 0.27
Diluted (in dollars per share)	$ 0.09	$ 0.12	$ 0.33	$ 0.27
Weighted average number of shares outstanding:
Basic (in shares)	36,743,000	36,697,000	36,723,000	36,696,000
Diluted (in shares)	36,879,000	36,823,000	36,873,000	36,804,000
Equipment
Net sales:
Revenues	$ 23,873,000	$ 19,335,000	$ 67,080,000	$ 54,249,000
Cost of sales:
Cost of sales	19,334,000	14,074,000	56,077,000	39,980,000
Services
Net sales:
Revenues	12,032,000	8,893,000	33,284,000	24,357,000
Cost of sales:
Cost of sales	$ 1,538,000	$ 1,244,000	$ 4,355,000	$ 3,621,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Total
Balance at Jun. 30, 2020	$ 396	$ 17,766	$ (19,521)	$ 77,899	$ 76,540
Balance (in shares) at Jun. 30, 2020	39,588,417		(2,893,715)
Net income				2,319	2,319
Stock-based compensation expense		104			104
Balance at Sep. 30, 2020	$ 396	17,870	$ (19,521)	80,218	78,963
Balance (in shares) at Sep. 30, 2020	39,588,417		(2,893,715)
Balance at Jun. 30, 2020	$ 396	17,766	$ (19,521)	77,899	76,540
Balance (in shares) at Jun. 30, 2020	39,588,417		(2,893,715)
Net income					9,876
Balance at Mar. 31, 2021	$ 396	18,038	$ (19,521)	87,775	86,688
Balance (in shares) at Mar. 31, 2021	39,594,137		(2,893,715)
Balance at Sep. 30, 2020	$ 396	17,870	$ (19,521)	80,218	78,963
Balance (in shares) at Sep. 30, 2020	39,588,417		(2,893,715)
Net income				3,197	3,197
Stock-based compensation expense		84			84
Balance at Dec. 31, 2020	$ 396	17,954	$ (19,521)	83,415	82,244
Balance (in shares) at Dec. 31, 2020	39,588,417		(2,893,715)
Net income				4,360	4,360
Stock-based compensation expense		84			84
Stock options exercised (in shares)	5,720
Balance at Mar. 31, 2021	$ 396	18,038	$ (19,521)	87,775	86,688
Balance (in shares) at Mar. 31, 2021	39,594,137		(2,893,715)
Balance at Jun. 30, 2021	$ 396	18,201	$ (19,521)	93,312	92,388
Balance (in shares) at Jun. 30, 2021	39,595,883		(2,893,715)
Net income				7,752	7,752
Stock-based compensation expense		89			89
Balance at Sep. 30, 2021	$ 396	18,306	$ (19,521)	101,064	100,245
Balance (in shares) at Sep. 30, 2021	39,600,883		(2,893,715)
Balance at Jun. 30, 2021	$ 396	18,201	$ (19,521)	93,312	92,388
Balance (in shares) at Jun. 30, 2021	39,595,883		(2,893,715)
Net income					12,062
Balance at Mar. 31, 2022	$ 396	19,735	$ (19,521)	105,374	105,984
Balance (in shares) at Mar. 31, 2022	39,627,255		(2,893,715)
Balance at Sep. 30, 2021	$ 396	18,306	$ (19,521)	101,064	100,245
Balance (in shares) at Sep. 30, 2021	39,600,883		(2,893,715)
Net income				1,037	1,037
Stock-based compensation expense		1,255			1,255
Balance at Dec. 31, 2021	$ 396	19,700	$ (19,521)	102,101	102,676
Balance (in shares) at Dec. 31, 2021	39,625,471		(2,893,715)
Net income				3,273	3,273
Stock-based compensation expense		35			35
Stock options exercised (in shares)	1,784
Balance at Mar. 31, 2022	$ 396	$ 19,735	$ (19,521)	$ 105,374	$ 105,984
Balance (in shares) at Mar. 31, 2022	39,627,255		(2,893,715)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS EQUITY (Parenthetical)	1 Months Ended
	Dec. 31, 2021
CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS EQUITY
Stock split	2

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS	9 Months Ended
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS	Mar. 31, 2022USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 12,062,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,320,000
Unrealized Loss on marketable securities	226,000
Change to inventory obsolescence reserve	331,000
Deferred income taxes	(11,000)
Stock based compensation expense	1,379,000
Changes in operating assets and liabilities:
Accounts receivable	3,872,000
Inventories	(11,309,000)
Prepaid expenses and other current assets	(318,000)
Other assets	(127,000)
Accounts payable, accrued expenses, accrued salaries and wages, accrued income taxes	4,892,000
Net Cash Provided by Operating Activities	8,413,000
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property, plant, and equipment	(1,189,000)
Purchases of marketable securities	(58,000)
Net Cash Used in Investing Activities	(1,247,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from stock option exercises	155,000
Net Cash Provided by Financing Activities	155,000
Net increase in Cash and Cash Equivalents	7,321,000
CASH AND CASH EQUIVALENTS - Beginning	34,806,000
CASH AND CASH EQUIVALENTS - Ending	42,127,000
SUPPLEMENTAL CASH FLOW INFORMATION
Interest paid	12,000
Income taxes paid	$ 2,154,000

Nature of Business and Summary

Nature of Business and Summary of Significant Accounting Policies	9 Months Ended
	Mar. 31, 2022
Nature of Business and Summary of Significant Accounting Policies
Nature of Business and Summary of Significant Accounting Policies	NOTE 1 - Nature of Business and Summary of Significant Accounting Policies Nature of Business : Napco Security Technologies, Inc. (“NAPCO”, “the Company”, “we”) is one of the leading manufacturers and designers of high-tech electronic security devices, wireless recurring communication services for intrusion and fire alarm systems as well as a leading provider of school safety solutions. We offer a diversified array of security products, encompassing access control systems, door-locking products, intrusion and fire alarm systems and video surveillance products. These products are used for commercial, residential, institutional, industrial and governmental applications, and are sold worldwide principally to independent distributors, dealers and installers of security equipment. We have experienced significant growth in recent years, primarily driven by fast growing recurring service revenues generated from wireless communication services for intrusion and fire alarm systems, as well as our school security products that are designed to meet the increasing needs to enhance school security as a result of on-campus shooting and violence in the U.S. The Company’s fiscal year begins on July 1 and ends on June 30. Historically, the end users of the Company’s equipment products want to install these products prior to the summer; therefore, sales of these products historically peak in the period April 1 through June 30, the Company’s fiscal fourth quarter, and are reduced in the period July 1 through September 30, the Company’s fiscal first quarter. In addition, demand for our products is affected by the housing and construction markets. Deterioration of the current economic conditions may also affect this trend. Our results for fiscal 2021 and the first three quarters of fiscal 2022 reflected the increase in customer demand after the challenging business environment resulting from the COVID-19 pandemic. While the Company believes this recovery will continue, there can be no assurances that it will do so in the event of a return to building and construction restrictions that might result from a return to higher levels of COVID-19 cases. Significant Accounting Policies: Principles of Consolidation The consolidated financial statements include the accounts of Napco Security Technologies, Inc. and its wholly-owned subsidiaries. All inter-company balances and transactions have been eliminated in consolidation. Stock Split In December 2021, the Company's Board of Directors approved a two -for-one stock split in the form of a 100% stock dividend of the Company’s common stock, payable to stockholders of record on December 20, 2021. The additional shares were distributed on January 4, 2022. All share and per share amounts (except par value) have been retroactively adjusted to reflect the stock split. There was no net effect on total stockholders' equity as a result of the stock split. Upon distribution of the dividend, the total number of shares outstanding increased from 18,365,878 to 36,731,756 . Accounting Estimates The preparation of financial statements in conformity with Generally Accepted Accounting Principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent gains and losses at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Critical estimates include management’s judgments associated with reserves for sales returns and allowances, allowance for doubtful accounts, inventory reserves, valuation of intangible assets and income taxes. Actual results could differ from those estimates. Fair Value of Financial Instruments The methods and assumptions used to estimate the fair value of the following classes of financial instruments were: Current Assets and Current Liabilities - The carrying amount of cash and cash equivalents, certificates of deposits, current receivables and payables and certain other short-term financial instruments approximate their fair value as of March 31, 2022 and June 30, 2021 due to their short-term maturities. Long-term debt and lease liabilities reflect fair value based on prevailing market rates. Cash and Cash Equivalents Cash and cash equivalents include approximately $63,000 of short-term time deposits at both March 31, 2022 and June 30, 2021, respectively. The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The Company has cash balances in banks in excess of the maximum amount insured by the FDIC and other international agencies as of March 31, 2022 and June 30, 2021. The Company has not historically experienced any credit losses with balances in excess of FDIC limits. Marketable Securities The Company’s marketable securities include investments in mutual funds, which invest primarily in various government and corporate obligations, stocks and money market funds. The Company’s marketable securities are reported at fair value with the related unrealized and realized gains and losses included in other expense (income). Realized gains or losses on mutual funds are determined on a specific identification basis. The Company would record an impairment charge if the cost of the available-for-sale securities exceeds the estimated fair value of the securities and the decline in value is determined to be other-than-temporary. During the three and nine months ended March 31, 2022, the Company did not record an impairment charge regarding its investment in marketable securities because management believes, based on its evaluation of the circumstances, that the decline in fair value below the cost of certain of the Company’s marketable securities is temporary. Accounts Receivable Accounts receivable is stated net of the reserves for doubtful accounts of $226,000 as of both March 31, 2022 and June 30, 2021. Our reserves for doubtful accounts are subjective critical estimates that have a direct impact on reported net earnings. These reserves are based upon the evaluation of our accounts receivable aging, specific exposures, sales levels and historical trends. Inventories Inventories are valued at the lower of cost or net realizable value, with cost being determined on the first-in, first-out (FIFO) method. The reported net value of inventory includes finished saleable products, work-in-process and raw materials that will be sold or used in future periods. Inventory costs include raw materials, direct labor and overhead. The Company’s overhead expenses are applied based, in part, upon estimates of the proportion of those expenses that are related to procuring and storing raw materials as compared to the manufacture and assembly of finished products. These proportions, the method of their application, and the resulting overhead included in ending inventory, are based in part on subjective estimates and actual results could differ from those estimates. In addition, the Company records an inventory obsolescence reserve, which represents any excess of the cost of the inventory over its estimated realizable value. This reserve is calculated using an estimated obsolescence percentage applied to the inventory based on age, historical trends, requirements to support forecasted sales, and the ability to find alternate applications of its raw materials and to convert finished product into alternate versions of the same product to better match customer demand. In addition, and as necessary, the Company may establish specific reserves for future known or anticipated events. There is inherent professional judgment and subjectivity made by both production and engineering members of management in determining the estimated obsolescence percentage. The Company also regularly reviews the period over which its inventories will be converted to sales. Any inventories expected to convert to sales beyond 12 months from the balance sheet date are classified as non-current. Property, Plant, and Equipment Property, plant, and equipment are carried at cost less accumulated depreciation. Expenditures for maintenance and repairs are charged to expense as incurred; costs of major renewals and improvements are capitalized. At the time property and equipment are retired or otherwise disposed of, the cost and accumulated depreciation are eliminated from the asset and accumulated depreciation accounts and the profit or loss on such disposition is reflected in income. Depreciation is recorded over the estimated service lives of the related assets using primarily the straight-line method. Amortization of leasehold improvements is calculated by using the straight-line method over the estimated useful life of the asset or lease term, whichever is shorter. Long-Lived and Intangible Assets Long-lived assets are amortized over their useful lives and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets in question may not be recoverable. Impairment would be recorded in circumstances where undiscounted cash flows expected to be generated by an asset are less than the carrying value of that asset. Intangible assets determined to have indefinite lives were not amortized but were tested for impairment at least annually. The Company’s acquisition of substantially all of the assets and certain liabilities of G. Marks Hardware, Inc. (“Marks”) in August 2008 included intangible assets recorded at fair value on the date of acquisition. The customer relationships are amortized over their estimated useful lives of twenty years. At the acquisition date, the Marks trade name was deemed to have an indefinite life. During the 4th quarter of fiscal 2020, the Company determined that the trade-name was impaired. Accordingly, the Company recorded an impairment charge of $1,852,000 and reclassified the remaining balance of the underlying asset from indefinite-lived to a long-lived asset with a remaining useful life of 20 years as of June 30, 2020. Changes in intangible assets are as follows (in thousands): March 31, 2022 June 30, 2021 Carrying Accumulated Net book Carrying Accumulated Net book value amortization value value amortization value Customer relationships $ 9,800 (9,096) $ 704 $ 9,800 $ (8,955) $ 845 Trade name 4,048 (354) 3,694 4,048 (202) 3,846 $ 13,848 $ (9,450) $ 4,398 $ 13,848 $ (9,157) $ 4,691 Amortization expense for intangible assets subject to amortization was approximately $98,000 and $106,000 for the three months ended March 31, 2022 and 2021, respectively. Amortization expense for intangible assets subject to amortization was approximately $293,000 and $319,000 for the nine months ended March 31, 2022 and 2021, respectively. Amortization expense for each of the next five fiscal years is estimated to be as follows: 2022 - $390,000; 2023 - $361,000; 2024 - $336,000; 2025 - $315,000; and 2026 - $297,000. The weighted average remaining amortization period for intangible assets was 16.3 years and 16.9 years at March 31, 2022 and June 30, 2021, respectively. Revenue Recognition Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. For product sales, the Company typically transfers control at a point in time upon shipment or delivery of the product. For monthly communication services the Company satisfies its performance obligation as the services are rendered and therefore recognizes revenue over the monthly period. Typically timing of revenue recognition coincides with the timing of invoicing to the customers, at which time the Company has an unconditional right to consideration. As such, the Company typically records a receivable when revenue is recognized. The contract with the customer states the final terms of the sale, including the description, quantity, and price of each product purchased. Payment for product sales is typically due within 30 and 180 days of the delivery date. Payment for monthly communication services is billed on a monthly basis and is typically due at the beginning of the month of service. The Company provides limited standard warranty for defective products, usually for a period of 24 to 36 months. The Company accepts returns for such defective products as well as for other limited circumstances. The Company also provides rebates to customers for meeting specified purchasing targets and other coupons or credits in limited circumstances. The Company establishes reserves for the estimated returns, rebates and credits and measures such variable consideration based on the expected value method using an analysis of historical data. Changes to the estimated variable consideration in subsequent periods are not material. The Company analyzes sales returns and is able to make reasonable and reliable estimates of product returns based on the Company’s past history. Estimates for sales returns are based on several factors including actual returns and based on expected return data communicated to it by its customers. Accordingly, the Company believes that its historical returns analysis is an accurate basis for its allowance for sales returns. Actual results could differ from those estimates. Advertising and Promotional Costs Advertising and promotional costs are included in "Selling, General and Administrative" expenses in the consolidated statements of income and are expensed as incurred. Advertising expense for the three months ended March 31, 2022 and 2021 was $655,000 and $229,000, respectively. Advertising expense for the nine months ended March 31, 2022 and 2021 was $2,253,000 and $919,000, respectively Research and Development Costs Research and development (“R&D”) costs incurred by the Company are charged to expense as incurred and are included in operating expenses in the consolidated statements of income. Company-sponsored R&D expense for the three months ended March 31, 2022 and 2021 was $2,009,000 and $1,902,000, respectively. R&D expense for the nine months ended March 31, 2022 and 2021 was $5,918,000 and $5,675,000, respectively. Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred income tax expense represents the change during the period in the deferred tax assets and deferred tax liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company measures and recognizes the tax implications of positions taken or expected to be taken in its tax returns on an ongoing basis. The Company records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process in which (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. Net Income per Share Basic net income per common share (Basic EPS) is computed by dividing net income by the weighted average number of common shares outstanding. Diluted net income per common share (Diluted EPS) is computed by dividing net income by the weighted average number of common shares and dilutive common share equivalents and convertible securities then outstanding. The following provides a reconciliation of information used in calculating the per share amounts for the three months ended March 31, 2022 and 2021 (in thousands, except share and per share data): Net Income Weighted Average Shares Net Income per Share 2022 2021 2022 2021 2022 2021 Basic EPS $ 3,273 $ 4,360 36,743 36,697 $ 0.09 $ 0.12 Effect of Dilutive Securities: Stock Options — — 136 126 — — Diluted EPS $ 3,273 $ 4,360 36,879 36,823 $ 0.09 $ 0.12 Options to purchase 388,000 and 16,000 shares of common stock were excluded for the three months ended March 31, 2022 and 2021, respectively, and were not included in the computation of Diluted EPS because their inclusion would be anti-dilutive. These options were still outstanding at the end of the period. The following provides a reconciliation of information used in calculating the per share amounts for the nine months ended March 31, 2022 and 2021 (in thousands, except share and per share data): Weighted Average Net Income per Net Income Shares Share 2022 2021 2022 2021 2022 2021 Basic EPS $ 12,062 $ 9,876 36,723 36,696 $ 0.33 $ 0.27 Effect of Dilutive Securities: Stock Options — — 150 108 — — Diluted EPS $ 12,062 $ 9,876 36,873 36,804 $ 0.33 $ 0.27 Options to purchase 156,145 and 53,333 shares of common stock were excluded for the nine months ended March 31, 2022 and 2021, respectively, and were not included in the computation of Diluted EPS because their inclusion would be anti-dilutive. These options were still outstanding at the end of the period. Stock-Based Compensation The Company has established four share incentive programs as discussed in Note 9. Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense on a straight-line basis over the vesting period. Determining the fair value of share-based awards at the grant date requires assumptions and judgments about expected volatility and forfeiture rates, among other factors. Stock-based compensation costs of $35,000 and $84,000 were recognized for the three months ended March 31, 2022 and 2021, respectively. Stock-based compensation costs of $1,379,000 and $272,000 were recognized for the nine months ended March 31, 2022 and 2021, respectively. Foreign Currency The Company has determined the functional currency of all foreign subsidiaries is the U.S. Dollar. All foreign operations are considered a direct and integral part or extension of the Company’s operations. The day-to-day operations of all foreign subsidiaries are dependent on the economic environment of the U.S. Dollar. Therefore, no realized and unrealized gains and losses associated with foreign currency translation are recorded for the three or nine months ended March 31, 2022 or 2021. Comprehensive Income For the three and nine months ended March 31, 2022 and 2021, the Company’s operations did not give rise to material items includable in comprehensive income, which were not already included in net income. Accordingly, the Company’s comprehensive income approximates its net income for all periods presented. Segment Reporting The Company’s reportable operating segments are determined based on the Company’s management approach. The management approach is based on the way that the chief operating decision maker organizes the segments within an enterprise for making operating decisions and assessing performance. The Company’s results of operations are reviewed by the chief operating decision maker on a consolidated basis and the Company operates in only one segment. The Company has presented required geographical data in Note 14. Shipping and Handling Sales and Costs The Company records the amount billed to customers for shipping and handling in net sales ($106,000 and $91,000 in the three months ended March 31, 2022 and 2021, respectively and $318,000 and $290,000 in the nine months ended March 31, 2022 and 2021, respectively); and classifies the costs associated with these sales in cost of sales ($339,000 and $281,000 in the three months ended March 31, 2022 and 2021, respectively and $1,033,000 and $732,000 in the nine months ended March 31, 2022 and 2021, respectively). Leases Effective July 1, 2019, the Company adopted the new lease accounting standard using the modified retrospective transition option of applying the new standard at the adoption date. In addition, we elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed us to not reassess (1) whether any expired or existing contracts are or contain leases, (2) lease classification for any expired or existing leases, and (3) initial direct costs for any existing leases. Adoption of the new standard resulted in the recording of an operating ROU asset and lease liabilities with previous guidance. See Note 13 – Commitments and Contingencies; Leases for additional accounting policies and transition disclosures. Recently Issued Accounting Standards Reference Rate Reform (ASC Topic 848) In March 2020, the FASB issued authoritative guidance to provide optional relief for companies preparing for the discontinuation of interest rates such as the London Interbank Offered Rate (“LIBOR”), which is expected to be phased out at the end of calendar 2021, and applies to lease contracts, hedging instruments, held-to-maturity debt securities and debt arrangements that have LIBOR as the benchmark rate. In January 2021, the FASB issued authoritative guidance that makes amendments to the new rules on accounting for reference rate reform. The amendments clarify that for all derivative instruments affected by the changes to interest rates used for discounting, margining or contract price alignment, regardless of whether they reference LIBOR or another rate expected to be discontinued as a result of reference rate reform, an entity may apply certain practical expedients in ASC Topic 848. Effective for the Company – This guidance can be applied for a limited time through December 31, 2022. The guidance will no longer be available to apply after December 31, 2022. Impact on consolidated financial statements – The Company’s bank has notified the Company that its LIBOR option will continue to be available to it through June 30, 2023, at which time the option will shift to the Benchmark Replacement as defined in the agreement with the bank (see Note 8). The Company does not believe that this transition will have a material impact on its financial condition.

Revenue Recognition and Contrac

Revenue Recognition and Contracts with Customers	9 Months Ended
Revenue Recognition and Contracts with Customers	Mar. 31, 2022
Revenue Recognition and Contracts with Customers
Revenue Recognition and Contracts with Customers	NOTE 2 – Revenue Recognition and Contracts with Customers The Company is engaged in one major line of business: the development, manufacture, and distribution of security products, encompassing access control systems, door security products, intrusion and fire alarm systems, alarm communication services, and video surveillance products for commercial and residential use. The Company also provides wireless communication service for intrusion and fire alarm systems on a monthly basis. All of these products and services are used for commercial, residential, institutional, industrial and governmental applications, and are sold primarily to independent distributors, dealers and installers of security equipment. Sales to unaffiliated customers are primarily shipped from the United States. As of March 31, 2022 and June 30, 2021, the Company included refund liabilities of approximately $4,771,000 and $4,277,000, respectively, in current liabilities. As of March 31, 2022 and June 30, 2021, the Company included return-related assets of approximately $961,000 and $890,000, respectively, in other current assets. As a percentage of gross sales, returns, rebates and allowances were 11% and 10% for the three months ended March 31, 2022 and 2021, respectively. As a percentage of gross sales, returns, rebates and allowances were 10% and 9% for the nine months ended March 31, 2022 and 2021, respectively. The Company disaggregates revenue from contracts with customers into major product lines. The Company determines that disaggregating revenue into these categories achieves the disclosure objective to depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. As noted in the accounting policy footnote, the Company’s business consists of one operating segment. Following is the disaggregation of revenues based on major product lines (in thousands): Three months ended March 31, Nine months ended March 31, 2022 2021 2022 2021 Major Product Lines: Intrusion and access alarm products $ 12,667 $ 8,956 $ 33,230 $ 24,517 Door locking devices 11,206 10,379 33,850 29,732 Services 12,032 8,893 33,284 24,357 Total Revenues $ 35,905 $ 28,228 $ 100,364 $ 78,606

Business and Credit Concentrati

Business and Credit Concentrations	9 Months Ended
Business and Credit Concentrations	Mar. 31, 2022
Business and Credit Concentrations
Business and Credit Concentrations	NOTE 3 – Business and Credit Concentrations An entity is more vulnerable to concentrations of credit risk if it is exposed to risk of loss greater than it would have had if it mitigated its risk through diversification of customers. Such risks of loss manifest themselves differently, depending on the nature of the concentration, and vary in significance. The Company did not have any customers which exceeded 10% of net sales for the three or nine months ended March 31, 2022 and March 31, 2021, respectively. The Company had three customers with an accounts receivable balance that comprised 13%, 15% and 13% of the Company’s accounts receivable at March 31, 2022. The same three customers had accounts receivable balances that comprise of 12%, 19% and 11%, of the Company’s accounts receivable at June 30, 2021.

Marketable Securities

Marketable Securities	9 Months Ended
Marketable Securities	Mar. 31, 2022
Marketable Securities
Marketable Securities	NOTE 4 – Marketable Securities The Company’s marketable securities include investments in mutual funds, which invest primarily in various government and corporate obligations, stocks and money market funds, and are reported at their fair values. The disaggregated net gains and losses on the marketable securities recognized within the accompanying condensed consolidated statements of income for the three and nine months ended March 31, 2022 and 2021, are as follows (in thousands): Three months ended March 31, Nine months ended March 31, 2022 2021 2022 2021 Net gains recognized during the period on marketable securities $ 19 $ 3 $ 58 $ 3 Less: Net gains recognized during the year on marketable securities sold during the period — — — — Unrealized (losses) gains recognized during the reporting year on marketable securities still held at the reporting date (191) (42) (226) (42) $ (172) $ (39) $ (168) $ (39) The fair values of the Company’s marketable securities are determined as being the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the Company utilizes the three-tier value hierarchy, as prescribed by US GAAP, which prioritizes the inputs used in measuring fair value as follows: • Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. • Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement. The Company’s marketable securities, which are considered available-for-sale securities, are re-measured to fair value on a recurring basis and are valued using Level 1 inputs using quoted prices (unadjusted) for identical assets in active markets. The following tables summarize the Company’s investments at March 31, 2022 and June 30, 2021, respectively (in thousands): March 31, 2022 June 30, 2021 Unrealized Unrealized Cost Fair Value Gain (Loss) Cost Fair Value Gain (Loss) Marketable Securities $ 5,481 $ 5,245 $ (236) $ 5,422 $ 5,413 $ (9) Investment income is recognized when earned and consists principally of interest income from fixed income mutual funds. Realized gains and losses on sales of investments are determined on a specific identification basis.

Inventories

Inventories	9 Months Ended
Inventories	Mar. 31, 2022
Inventories
Inventories	NOTE 5 - Inventories Inventories, net of reserves are valued at lower of cost (first-in, first-out method) or net realizable value. Inventories, net of reserves consist of the following (in thousands): March 31, June 30, 2022 2021 Component parts $ 27,950 $ 17,245 Work-in-process 8,016 6,158 Finished product 6,712 8,297 $ 42,678 $ 31,700 Classification of inventories, net of reserves: Current $ 35,101 $ 24,933 Non-current 7,577 6,767 $ 42,678 $ 31,700

Property, Plant, and Equipment

Property, Plant, and Equipment	9 Months Ended
Property, Plant, and Equipment	Mar. 31, 2022
Property, Plant, and Equipment
Property, Plant, and Equipment	NOTE 6 – Property, Plant, and Equipment Property, plant and equipment consist of the following (in thousands): March 31, 2022 June 30, 2021 Useful Life in Years Land $ 904 $ 904 N/A Buildings 8,911 8,911 30 to 40 Molds and dies 7,478 7,416 3 to 5 Furniture and fixtures 2,936 2,813 5 to 10 Machinery and equipment 26,498 25,548 7 to 10 Building improvements 2,463 2,409 Shorter of the lease term or life of asset 49,190 48,001 Less: accumulated depreciation and amortization (41,193) (40,165) $ 7,997 $ 7,836 Depreciation and amortization expense on property, plant, and equipment was approximately $338,000 and $302,000 for the three months ended March 31, 2022 and 2021, respectively. Depreciation and amortization expense on property, plant and equipment was approximately $1,028,000 and $939,000 for the nine months ended March 31, 2022 and 2021, respectively.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Mar. 31, 2022
Income Taxes
Income Taxes	NOTE 7 - Income Taxes The provision for income taxes represents Federal, foreign, and state and local income taxes. The effective rate differs from statutory rates due to the effect of state and local income taxes, tax rates in foreign jurisdictions, global intangible low-taxed income (“GILTI”), tax benefit of R&D credits, a gain on extinguishment of debt of the Company’s PPP loans and certain nondeductible expenses. Our effective tax rate will change from quarter to quarter based on recurring and non-recurring factors including, but not limited to, the geographical mix of earnings, enacted tax legislation, and state and local income taxes. In addition, changes in judgment from the evaluation of new information resulting in the recognition de-recognition or re-measurement of a tax position taken in a prior annual period is recognized separately in the quarter of the change. For the three and nine months ended March 31, 2022, the Company recognized net income tax expense of $1,132,000 and $1,771,000, respectively. During the nine months ended March 31, 2022, the Company’s reserve for uncertain income tax positions increased by $6,000. The Company’s practice is to recognize interest and penalties related to income tax matters in income tax expense and accrued income taxes. As of March 31, 2022, the Company had accrued interest totaling $82,000, as well as $678,000 of unrecognized net tax benefits that, if recognized, would favorably affect the Company’s effective income tax rate in any future period. For the nine months ended March 31, 2022, additional interest expense was accrued for in the amount of $6,000. The Company claims R&D tax credits on eligible R&D expenditures. The R&D tax credits are recognized as a reduction to income tax expense. The Company does not expect that our unrecognized tax benefits will significantly change within the next twelve months. We file a consolidated U.S. income tax return and tax returns in certain state and local and foreign jurisdictions. As of March 31, 2022, we remain subject to examination in all tax jurisdictions for all relevant jurisdictional statutes for fiscal years 2018 and thereafter. The Company was audited by the IRS for fiscal year 2016. During fiscal year 2020, the Company settled the issue at Appeals and recorded a provision for the federal and state impact of $762,000 and $70,000 respectively. As of March 31, 2021, all federal and state liabilities related to the fiscal year 2016 audit have been paid. The Company was audited by the IRS for the fiscal year 2017. During the third quarter of fiscal 2021, the Company settled the issue and paid the IRS $399,000. The Company reported the results of the IRS exam to all the jurisdictions in which it files and paid taxes and interest totaling $97,000. In fiscal 2021, the Company paid the IRS $68,000 for interest. None of the payments were recorded to expense since adequate liabilities had previously been established. The Company has identified its U.S. Federal income tax return and its State return in New York as its major tax jurisdictions. In January 2022, the Company received a letter from the IRS (“IRS”) notifying it that the IRS would be examining the Company’s income tax return for fiscal year ended June 30, 2020. Management believes that its provision for income taxes for this period is adequate. However, the outcome cannot be predicted with certainty.

Long-Term Debt

Long-Term Debt	9 Months Ended
Long-Term Debt	Mar. 31, 2022
Long-Term Debt
Long-Term Debt	NOTE 8 - Long-Term Debt As of March 31, 2022 and June 30, 2021, the Company had a revolving line of credit of $11,000,000 (“Revolver Agreement”) which expires in June 2024. Also, at June 30, 2021, long-term debt consisted of a term loan from the U.S. Small Business Administration through its Payroll Protection Program. All amounts borrowed under this loan were forgiven in the first quarter of fiscal 2022. Outstanding balances and interest rates as of March 31, 2022 and June 30, 2021 are as follows (dollars in thousands): March 31, 2022 June 30, 2021 Outstanding Interest Rate Outstanding Interest Rate Revolving line of credit $ — n/a $ — n/a Term loans — n/a % 3,904 1 % — 3,904 Less: current maturities — (2,386) Long-term debt $ — $ 1,518 The Revolver Agreement also provides for a LIBOR-based interest rate option of LIBOR plus 1.15% to 2.00%, depending on the ratio of outstanding debt to EBITDA, which is to be measured and adjusted quarterly, a prime rate-based option of the prime rate plus 0.25% and other terms and conditions as more fully described in the Revolver Agreement. The Company’s obligations under the Revolver Agreement continue to be secured by substantially all of its domestic assets, including but not limited to, deposit accounts, accounts receivable, inventory, equipment and fixtures and intangible assets. In addition, the Company’s wholly owned subsidiaries, with the exception of the Company’s foreign subsidiaries, have issued guarantees and pledges of all of their assets to secure the Company’s obligations under the Revolver Agreement. All of the outstanding common stock of the Company’s domestic subsidiaries and 65% of the common stock of the Company’s foreign subsidiaries has been pledged to secure the Company’s obligations under the Revolver Agreement. The Revolver Agreement contains various restrictions and covenants including, among others, restrictions on payment of dividends, restrictions on borrowings and compliance with certain financial ratios, as defined in the Revolver Agreement. The Company received $3,904,000 in loans (the "PPP Loan"), entered into between the Company and HSBC Bank USA N.A., as lender (the "Lender”). The Lender made the loans pursuant to the Paycheck Protection Program (the "PPP"), created by Section 1102 of the CARES Act and governed by the CARES Act, Section 7(a)(36) of the Small Business Act, any rules or guidance that has been issued by the Small Business Association (“SBA”) implementing the PPP and acting as guarantor, or any other applicable loan program requirements, as defined in 13 CFR § 120.10, as amended from time to time. During the first quarter of fiscal 2022, the PPP Loans were forgiven in their entirety, in accordance with guidelines set forth in the PPP. The Company recognized a gain on the extinguishment of debt in the first quarter of 2022 in the amount of $3,904,000 within the other income (expense) section in the accompanying condensed consolidated statements of income. Under the PPP, the SBA reserves the right to audit PPP forgiveness applications for a period of six years from the date of forgiveness. The SBA has indicated that it will audit all of those that are in excess of $2 million.

Stock Option

Stock Option	9 Months Ended
Stock Option	Mar. 31, 2022
Stock Option
Stock Option	NOTE 9 - Stock Option The Company follows ASC 718 (“Share-Based Payment”), which requires that all share-based payments to employees, including stock options, be recognized as compensation expense in the consolidated financial statements based on their fair values and over the requisite service period. For the three months ended March 31, 2022 and 2021, the Company recorded non-cash compensation expense of $35,000 ($0.00 per basic and diluted share) and $84,000 ($0.00 per basic and diluted share), respectively, relating to stock-based compensation. For the nine months ended March 31, 2022 and 2021, the Company recorded non-cash compensation expense of $1,379,000 ($0.04 per basic and diluted share) and $272,000 ($.01 per basic and diluted share). 2012 Employee Stock Option Plan In December 2012, the stockholders approved the 2012 Employee Stock Option Plan (the 2012 Employee Plan). The 2012 Employee Plan authorizes the granting of awards, the exercise of which would allow up to an aggregate of 1,900,000 shares of the Company’s common stock to be acquired by the holders of such awards. Under this plan, the Company may grant stock options, which are intended to qualify as incentive stock options (ISOs) or non-incentive stock options, to valued employees. Any plan participant who is granted ISOs and possesses more than 10% of the voting rights of the Company’s outstanding common stock must be granted an option with a price of at least 110% of the fair market value on the date of grant. Under the 2012 Employee Plan, stock options may be granted to valued employees with a term of up to 10 years at an exercise price equal to or greater than the fair market value on the date of grant and are exercisable, in whole or in part, at 20% per year beginning on the date of grant. An option granted under this plan shall vest in full upon a “change in control” as defined in the plan. At March 31, 2022, 523,080 stock options were outstanding, 164,776 stock options were exercisable and 1,138,920 stock options were available for grant under this plan. No options may be granted under this plan after December 2022. 338,000 Options were granted during the nine months ended March 31, 2022. There were no options granted during the three months ended March 31, 2022. There were no options granted during the three or nine months ended March 31, 2021. The fair value of each option granted was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions: 2022 2021 Risk-free interest rates 1.64 % n/a % Expected lives 6.18 Years n/a Expected volatility 43 % n/a % Expected dividend yields 0 % n/a % The following table reflects activity under the 2012 Employee Plan for the nine months ended March 31: 2022 2021 Weighted average Weighted average Options exercise price Options exercise price Outstanding, beginning of year 214,080 $ 9.59 235,680 $ 9.42 Granted 338,000 $ 23.17 — — Forfeited/Lapsed — — (8,000) $ 4.08 Exercised (29,000) $ 5.45 (3,600) $ 5.70 Outstanding, end of period 523,080 $ 18.59 224,080 $ 9.67 Exercisable, end of period 164,776 $ 15.01 89,200 $ 7.92 Weighted average fair value at grant date of options granted $ 12.16 n/a Total intrinsic value of options exercised $ 502,000 $ 42,000 Total intrinsic value of options outstanding $ 1,903,000 $ 1,735,000 Total intrinsic value of options exercisable $ 1,085,000 $ 847,000 1,000 and 29,000 stock options were exercised during the three and nine months ended March 31, 2022, respectively. The 1,000 options that were exercised during the three months ended March 31, 2022, were settled by exchanging 153 shares of the Company’s common stock which were retired and returned to unissued status upon receipt. $155,000 cash was received from option exercises during the nine months ended March 31, 2022. The actual tax benefit realized for the tax deductions from option exercises during the three and nine months ended March 31, 2022 was $1,000 for both periods. 3,600 stock options were exercised during the three and nine months ended March 31, 2021, which were settled by exchanging 1,350 shares of the Company’s common stock which were retired and returned to unissued status upon receipt. The actual tax benefit realized for the tax deductions from option exercises during the three and nine months ended March 31, 2021 was $3,000 for both periods. The following table summarizes information about stock options outstanding under the 2012 Employee Plan at March 31, 2022: Options outstanding Options exercisable Weighted average Number remaining Weighted average Number Weighted average Range of exercise prices outstanding contractual life exercise price exercisable exercise price $2.19 ‑ $24.75 523,080 8.67 $ 18.59 164,776 $ 15.01 523,080 8.67 $ 18.59 164,776 $ 15.01 As of March 31, 2022, there was $2,704,000 of unearned stock-based compensation cost related to share-based compensation arrangements granted under the 2012 Employee Plan. 0 and 338,000 options were granted during the three and nine months ended March 31, 2022, respectively. There were no options granted during each of the three and nine months ended March 31, 2021. 5,200 and 95,600 options vested during the three and nine months ended March 31, 2022, respectively. 5,200 and 30,800 options vested during the three and nine months ended March 31, 2021, respectively. The total grant date fair value of the options vesting during the three months ended March 31, 2022 and 2021 under this plan was $36,000 and $63,000, respectively. The total grant date fair value of the options vesting during the nine months ended March 31, 2022 and 2021 under this plan was $975,000 and $168,000, respectively. 2012 Non-Employee Stock Option Plan In December 2012, the stockholders approved the 2012 Non-Employee Stock Option Plan (the 2012 Non-Employee Plan). This plan authorizes the granting of awards, the exercise of which would allow up to an aggregate of 100,000 shares of the Company’s common stock to be acquired by the holders of such awards. Under this plan, the Company may grant stock options to non-employee directors and consultants to the Company and its subsidiaries. Under the 2012 Non-Employee Plan, stock options may be granted with a term of up to 10 years at an exercise price equal to or greater than the fair market value on the date of grant and are exercisable in whole or in part at 20% per year beginning on the date of grant. An option granted under this plan shall vest in full upon a “change in control” as defined in the plan. At March 31, 2022, 21,600 stock options were outstanding, 12,480 stock options were exercisable and no further stock options were available for grant under this plan. 9,600 Options were granted during the nine months ended March 31, 2022. There were no options granted during the three months ended March 31, 2022. There were no options granted during the three or six months ended March 31, 2021. No options may be granted under this plan after December 2022. The fair value of each option granted was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions: 2022 2021 Risk-free interest rates 1.68 % n/a % Expected lives 6.18 Years n/a Expected volatility 43 % n/a % Expected dividend yields 0 % n/a % The following table reflects activity under the 2012 Non-Employee Plan for the nine months ended March 31: 2022 2021 Weighted average Weighted average Options exercise price Options exercise price Outstanding, beginning of year 12,000 $ 6.55 24,000 $ 5.15 Granted 9,600 $ 22.93 — — Forfeited/Lapsed — — — — Exercised — — (2,400) $ 4.35 Outstanding, end of period 21,600 $ 13.83 21,600 $ 5.23 Exercisable, end of period 12,480 $ 8.48 14,640 $ 4.57 Weighted average fair value at grant date of options granted $ 12.58 n/a Total intrinsic value of options exercised n/a $ 31,000 Total intrinsic value of options outstanding $ 168,000 $ 263,000 Total intrinsic value of options exercisable $ 155,000 $ 188,000 No stock options were exercised during the three or nine months ended March 31, 2022 or 2021. No cash was received from option exercises during either of the three or nine months ended March 31, 2022 or 2021 and the actual tax benefit realized for the tax deductions from option exercises was $0. 2,400 stock options were exercised during the three and nine months ended March 31, 2021, which were settled by exchanging 913 shares of the Company’s common stock which were retired and returned to unissued status upon receipt. The actual tax benefit realized for the tax deductions from option exercises was $6,000 for both periods. The following table summarizes information about stock options outstanding under the 2012 Non-Employee Plan at March 31, 2022: Options outstanding Options exercisable Weighted average Weighted Weighted Number remaining average exercise Number average exercise Range of exercise prices outstanding contractual life price exercisable price $4.35 - $22.93 21,600 7.78 $ 13.83 12,480 $ 8.48 21,600 7.78 $ 13.83 12,480 $ 8.48 As of March 31, 2022, there was $76,000 of unearned stock-based compensation cost related to share-based compensation arrangements granted under the 2012 Non-Employee Plan. 0 and 9,600 options were granted during the three and nine months ended March 31, 2022. No options were granted during the three or nine months ended March 31, 2021. 720 and 6,240 options vested during the three and nine months ended March 31, 2022. 720 and 5,520 options vested during the three and nine months ended March 31, 2021. The total grant date fair value of the options vesting during the three months ended March 31, 2022 and 2021 under this plan was $5,000, for each period. The total grant date fair value of the options vesting during the nine months ended March 31, 2022 and 2021 under this plan was $39,000 and $18,000, respectively. 2018 Non-Employee Stock Option Plan In December 2018, the stockholders approved the 2018 Non-Employee Stock Option Plan (the “2018 Non-Employee Plan”). This plan authorizes the granting of awards, the exercise of which would allow up to an aggregate of 100,000 shares of the Company's common stock to be acquired by the holders of such awards. Under this plan, the Company may grant stock options to non-employee directors and consultants to the Company and its subsidiaries. Under the 2018 Non-Employee Plan, stock options may be granted with a term of up to 10 years at an exercise price equal to or greater than the fair market value on the date of grant and are exercisable in whole or in part at 20% per year beginning on the date of grant. An option granted under this plan shall vest in full upon a “change in control” as defined in the plan. At March 31, 2022, 89,000 stock options were outstanding, 45,040 stock options were exercisable and no further stock options were available for grant under this plan. 23,500 Options were granted during the nine months ended March 31, 2022. There were no options granted during the three months ended March 31, 2022. There were no options granted during the three or nine months ended March 31, 2021. No options may be granted under this plan after December 2028. The fair value of each option granted was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions: 2022 2021 Risk-free interest rates 1.68 % n/a % Expected lives 6.18 Years n/a Expected volatility 43 % n/a % Expected dividend yields 0 % n/a % The following table reflects activity under the 2018 Non-Employee Plan for the three months ended March 31: 2022 2021 Weighted average Weighted average Options exercise price Options exercise price Outstanding, beginning of year 70,100 $ 11.93 96,800 $ 11.74 Granted 23,500 $ 22.93 — — Forfeited/Lapsed — — — — Exercised (4,600) $ 10.43 (3,200) $ 8.10 Outstanding, end of period 89,000 $ 14.91 93,600 $ 11.87 Exercisable, end of period 45,040 $ 12.98 40,960 $ 11.54 Weighted average fair value at grant date of options granted $ 12.58 n/a Total intrinsic value of options exercised $ 58,000 $ 30,000 Total intrinsic value of options outstanding $ 556,000 $ 519,000 Total intrinsic value of options exercisable $ 351,000 $ 241,000 1,600 and 4,600 options were exercised during the three months and nine months ended March 31, 2022. The 1,600 options that were exercised during the three months ended March 31, 2022, were settled by exchanging 663 shares of the Company’s common stock which were retired and returned to unissued status upon receipt. The 4,600 options that were exercised during the nine months ended March 31, 2022, were settled by exchanging 2,075 shares of the Company’s common stock which were retired and returned to unissued status upon receipt. No cash was received from option exercises during either of the three or nine months ended March 31, 2022 and the actual tax benefit realized for the tax deductions from option exercises was $4,000 and $12,000, respectively. 3,200 stock options were exercised during the three and nine months ended March 31, 2021, were settled by exchanging 1,217 shares of the Company’s common stock which were retired and returned to unissued status upon receipt. No cash was received from option exercises during either of the three and nine months ended March 31, 2021 and the actual tax benefit realized for the tax deductions from option exercises was $6,000 for both periods. The following table summarizes information about stock options outstanding under the 2018 Non-Employee Plan at March 31, 2022: Options outstanding Options exercisable Weighted average Weighted Weighted Number remaining average exercise Number average exercise Range of exercise prices outstanding contractual life price exercisable price $8.10 - $22.93 89,000 8.00 $ 14.91 45,040 $ 12.98 89,000 8.00 $ 14.91 45,040 $ 12.98 As of March 31, 2022, there was $302,000 of unearned stock-based compensation cost related to share-based compensation arrangements granted under the 2018 Non-Employee Plan. 0 and 23,500 options were granted during the three and nine months ended March 31, 2022. No options were granted during the three or nine months ended March 31, 2021. 5,380 and 19,680 options vested during the three and nine months ended March 31, 2022. 6,880 and 19,680 options vested during the three and nine months ended March 31, 2021. The total grant date fair value of the options vesting during the three months ended March 31, 2022 and 2021 under this plan was $35,000 and $45,000, respectively. The total grant date fair value of the options vesting during the nine months ended March 31, 2022 and 2021 under this plan was $160,000 and $133,000, respectively. 2020 Non-Employee Stock Option Plan In May 2020, the stockholders approved the 2020 Non-Employee Stock Option Plan (the “2020 Non-Employee Plan”). This plan authorizes the granting of awards, the exercise of which would allow up to an aggregate of 100,000 shares of the Company's common stock to be acquired by the holders of such awards. Under this plan, the Company may grant stock options to non-employee directors and consultants to the Company and its subsidiaries. Under the 2020 Non-Employee Plan, stock options may be granted with a term of up to 10 years at an exercise price equal to or greater than the fair market value on the date of grant and are exercisable in whole or in part at 20% per year beginning on the date of grant. An option granted under this plan shall vest in full upon a “change in control” as defined in the plan. At March 31, 2022, 26,900 stock options were outstanding, 7,380 stock options were exercisable and 73,100 stock options were available for grant under this plan. 16,900 and 10,000 Options were granted during the nine months ended March 31, 2022 and 2021, respectively. There were no options granted during the three months ended March 31, 2022 and 2021, respectively. The fair value of each option granted was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions: 2022 2021 Risk-free interest rates 1.68 % 0.62 % Expected lives 6.18 Years 10 Expected volatility 43 % 45 % Expected dividend yields 0 % 0 % The following table reflects activity under the 2020 Non-Employee Plan for the three months ended March 31: 2022 2021 Weighted average Weighted average Options exercise price Options exercise price Outstanding, beginning of year 10,000 $ 11.40 — — Granted 16,900 $ 22.93 10,000 $ 11.40 Forfeited/Lapsed — — — — Exercised — — — — Outstanding, end of period 26,900 $ 18.64 10,000 $ 11.40 Exercisable, end of period 7,380 $ 16.68 2,000 $ 11.40 Weighted average fair value at grant date of options granted $ 12.58 $ 6.10 Total intrinsic value of options exercised n/a n/a Total intrinsic value of options outstanding $ 91,000 $ 60,000 Total intrinsic value of options exercisable $ 36,000 $ 12,000 No stock options were exercised during the three or nine months ended March 31, 2022 or 2021. No cash was received from option exercises during either of the three or nine months ended March 31, 2022 or 2021 and the actual tax benefit realized for the tax deductions from option exercises was $0 for both periods. The following table summarizes information about stock options outstanding under the 2020 Non-Employee Plan at March 31, 2022: Options outstanding Options exercisable Weighted average Number remaining Weighted average Number Weighted average Range of exercise prices outstanding contractual life exercise price exercisable exercise price $11.40 - $22.93 26,900 9.14 $ 18.64 7,380 $ 16.68 26,900 9.14 $ 18.64 7,380 $ 16.68 As of March 31, 2022, there was $147,000 of unearned stock-based compensation cost related to share-based compensation arrangements granted under the 2020 Non-Employee Plan. 16,900 and 10,000 options were granted during the nine months ended March 31, 2022 and 2021, respectively. There were 0 options granted during the three months ended March 31, 2022 and 2021, respectively. 0 and 5,380 options vested during the three and nine months ended March 31, 2022, respectively. 0 and 2,000 options vested during the three and nine months ended March 31, 2021, respectively. The total grant date fair value of the options vesting during the three and nine months ended March 31, 2022 under this plan was $0 and $55,000, respectively. The total grant date fair value of the options vesting during the three and nine months ended March 31, 2021 under this plan was $0 and $12,000, respectively.

Stockholders' Equity Transactio

Stockholders' Equity Transactions	9 Months Ended
Stockholders' Equity Transactions	Mar. 31, 2022
Stockholders' Equity Transactions
Stockholders' Equity Transactions	NOTE 10 – Stockholders’ Equity Transactions On September 16, 2014, the Company’s board of directors authorized the repurchase of up to 2 million of the approximately 38.8 million shares of the Company’s common stock then outstanding. Such repurchases may be made from time to time in the open market or in privately negotiated transactions subject to market conditions and the market price of the common stock. Relative to the loan agreement described in Note 8, the Company’s lender gave its consent to this stock repurchase plan. During the three and nine months ended March 31, 2022, and the fiscal year ended June 30, 2021, the Company did not repurchase any shares of its outstanding common stock. Pursuant to the PPP described in Note 8, the Company may not repurchase any of its shares of common stock until 12 months after the termination of the term loans described therein which occurred between August, 2021 and September, 2021. During the three months ended March 31, 2022, certain employees and Directors exercised stock options under the Company's 2012 Employee and 2018 Non-Employee Stock Option Plan totaling 2,600 shares. All of these exercises were completed as cashless exercises as allowed for under the Plan, where the exercise shares are issued by the Company in exchange for shares of the Company’s common stock that are owned by the optionees. The number of shares surrendered by the optionees was 816 and was based upon the per share price on the effective date of the option exercise. During the nine months ended March 31, 2022, certain employees and Directors exercised stock options under the Company's 2012 Employee and 2018 Non-Employee Stock Option Plan totaling 33,600 shares. 5,600 of these exercises were completed as cashless exercises as allowed for under the Plan, where the exercise shares are issued by the Company in exchange for shares of the Company’s common stock that are owned by the optionees. The number of shares surrendered by the optionees was 2,228 and was based upon the per share price on the effective date of the option exercise. $155,000 was received in exchange for the remaining 28,000 shares of the Company’s stock. During fiscal 2021, certain employees and Directors exercised stock options under the Company's 2012 Employee and Non-Employee and 2018 Non-employee Stock Option Plans totaling 14,200 shares. All of these exercises were completed as cashless exercises as allowed for under the Plans, where the exercise shares are issued by the Company in exchange for shares of the Company's common stock that are owned by the optionees. The number of shares surrendered by the optionees was 6,734 and was based upon the per share price on the effective date of the option exercise. On December 6, 2021, the Stockholders of the Company approved an amendment of the Company’s Certificate of Incorporation increasing the number of authorized shares the Company may issue to 100,000,000 shares of common stock at $.01 par value per share. In December 2021, the Company's Board of Directors approved a two-for-one stock split in the form of a 100% stock dividend of the Company’s common stock payable to stockholders of record on December 20, 2021. The additional shares were distributed on January 4, 2022. All share and per share amounts (except par value) have been retroactively adjusted to reflect the stock split. There was no net effect on total stockholders' equity as a result of the stock split.

Related Party Transaction

Related Party Transaction	9 Months Ended
Related Party Transaction	Mar. 31, 2022
Related Party Transaction
Related Party Transaction	NOTE 11 – Related Party Transaction On December 15, 2020, 4,666,142 shares of common stock were sold in a secondary offering by the Company's President and Chairman. On December 21, 2020, the underwriters of the secondary offering fully exercised the option granted at the time of the secondary offering to purchase an additional 669,922 shares of common stock at the secondary offering price of $13.00 per share ("Greenshoe"), less underwriting discounts and commissions, which consists solely of shares sold by the Company's President and Chairman. The Company received no proceeds from the secondary offering or the Greenshoe, but incurred $289,000 in offering expenses, which are recorded in selling, general, and administrative expenses in the accompanying condensed consolidated statements of income.

401(k) Plan

401(k) Plan	9 Months Ended
401(k) Plan	Mar. 31, 2022
401(k) Plan
401(k) Plan	NOTE 12 - 401(k) Plan The Company maintains a 401(k) plan (“the Plan”) that covers all U.S. non-union employees with one or more years of service and is qualified under Sections 401(a) and 401(k) of the Internal Revenue Code. Company contributions to this plan are discretionary and totaled $59,000 and $32,000 for the three months ended March 31, 2022 and 2021, respectively. Company contributions to this plan are discretionary and totaled $132,000 and $100,000 for the nine months ended March 31, 2022 and 2021, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Mar. 31, 2022
Commitments and Contingencies
Commitments and Contingencies	NOTE 13 - Commitments and Contingencies Leases Our lease obligation consists of a 99-year lease, entered into by one of the Company’s foreign subsidiaries, for approximately four acres of land in the Dominican Republic on which the Company’s principal production facility is located. The lease, which commenced on April 26, 1993 and expires in 2092, has an annual cost of approximately $288,000. Operating leases are included in operating lease right-of-use assets, accrued expenses and operating lease liabilities, non-current on our condensed consolidated balance sheets. For the three and nine months ended March 31, 2022 and 2021 cash payments against operating lease liabilities totaled $72,000 and $216,000 respectively. Supplemental balance sheet information related to operating leases was as follows: Weighted-average remaining lease term 70 Years Weighted-average discount rate 3.55 % The following is a schedule, by years, of maturities of lease liabilities as of March 31, 2022 (in thousands): Year Ending June 30, Amount 2022 $ 72 2023 280 2024 270 2025 261 2026 251 Thereafter 6,222 Total $ 7,356 Operating lease expense totaled approximately $80,000 and $78,000 for the three months ended March 31, 2022 and 2021, respectively. Operating lease expense totaled approximately $239,000 and $236,000 for the nine months ended March 31, 2022 and 2021, respectively. Litigation In the normal course of business, the Company is a party to claims and/or litigation. Management believes that the settlement of such claims and/or litigation, considered in the aggregate, will not have a material adverse effect on the Company’s financial position and results of operations. Employment Agreements As of March 31, 2022, the Company was obligated under three employment agreements and one severance agreement. The employment agreements are with the Company’s CEO, CFO and the Senior Vice President of Engineering (“the SVP of Engineering”). The employment agreement with the CEO provides for an annual salary of $872,000, as adjusted for inflation; incentive compensation as may be approved by the Board of Directors from time to time and a termination payment in an amount up to 299% of the average of the prior five calendar year’s compensation, subject to certain limitations, as defined in the agreement. The employment agreement renews annually in August unless either party gives the other notice of non-renewal at least six months prior to the end of the applicable term. The employment agreement with the SVP of Engineering expires in August 2022 and provides for an annual salary of $361,000, and, if terminated by the Company without cause, severance of nine month’s salary and continued company-sponsored health insurance for six months from the date of termination. The severance agreement is with the Executive Vice President of Operations and Chief Financial Officer and provides for, if terminated by the Company without cause or within three months of a change in corporate control of the Company, severance of nine month’s salary, continued company-sponsored health insurance for six months from the date of termination and certain non-compete and other restrictive provisions.

Geographical Data

Geographical Data	9 Months Ended
Geographical Data	Mar. 31, 2022
Geographical Data
Geographical Data	NOTE 14 – Geographical Data The Company is engaged in one major line of business: the development, manufacture, and distribution of security products, encompassing access control systems, door-locking products, intrusion and fire alarm systems and video surveillance products for commercial and residential use. The Company also provides wireless communication service for intrusion and fire alarm systems. These products are used for commercial, residential, institutional, industrial and governmental applications, and are sold worldwide principally to independent distributors, dealers and installers of security equipment. Sales to unaffiliated customers are primarily shipped from the United States. The Company has customers worldwide with major concentrations in North America. Financial Information Relating to Domestic and Foreign Operations (in thousands): Three months ended March 31, Nine months ended March 31, 2022 2021 2022 2021 Sales to external customers (1): Domestic $ 35,522 $ 27,877 $ 99,327 $ 77,559 Foreign 383 351 1,037 1,047 Total Net Sales $ 35,905 $ 28,228 $ 100,364 $ 78,606 March 31, 2022 June 30, 2021 Identifiable assets: United States $ 94,446 $ 90,941 Dominican Republic (2) 42,660 31,610 Total Identifiable Assets $ 137,106 $ 122,551 (1) All of the Company’s sales originate in the United States and are shipped primarily from the Company’s facilities in the United States. There were no sales into any one foreign country in excess of 10% of total Net Sales. (2) Consists primarily of inventories (March 31, 2022 = $31,847; June 30, 2021 = $20,712), operating lease assets (March 31, 2022 = $7,356; June 30, 2021 = $7,373) and fixed assets (March 31, 2022 = $3,297; June 30, 2021 = $3,208) located at the Company’s principal manufacturing facility in the Dominican Republic.

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Mar. 31, 2022
Subsequent Events
Subsequent Events	NOTE 15 - Subsequent Events The Company has evaluated subsequent events occurring after the date of the consolidated financial statements for events requiring recording or disclosure in the consolidated financial statements.

Nature of Business and Summar_2

Nature of Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2022
Nature of Business and Summary of Significant Accounting Policies
Nature of Business	Nature of Business : Napco Security Technologies, Inc. (“NAPCO”, “the Company”, “we”) is one of the leading manufacturers and designers of high-tech electronic security devices, wireless recurring communication services for intrusion and fire alarm systems as well as a leading provider of school safety solutions. We offer a diversified array of security products, encompassing access control systems, door-locking products, intrusion and fire alarm systems and video surveillance products. These products are used for commercial, residential, institutional, industrial and governmental applications, and are sold worldwide principally to independent distributors, dealers and installers of security equipment. We have experienced significant growth in recent years, primarily driven by fast growing recurring service revenues generated from wireless communication services for intrusion and fire alarm systems, as well as our school security products that are designed to meet the increasing needs to enhance school security as a result of on-campus shooting and violence in the U.S. The Company’s fiscal year begins on July 1 and ends on June 30. Historically, the end users of the Company’s equipment products want to install these products prior to the summer; therefore, sales of these products historically peak in the period April 1 through June 30, the Company’s fiscal fourth quarter, and are reduced in the period July 1 through September 30, the Company’s fiscal first quarter. In addition, demand for our products is affected by the housing and construction markets. Deterioration of the current economic conditions may also affect this trend. Our results for fiscal 2021 and the first three quarters of fiscal 2022 reflected the increase in customer demand after the challenging business environment resulting from the COVID-19 pandemic. While the Company believes this recovery will continue, there can be no assurances that it will do so in the event of a return to building and construction restrictions that might result from a return to higher levels of COVID-19 cases.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Napco Security Technologies, Inc. and its wholly-owned subsidiaries. All inter-company balances and transactions have been eliminated in consolidation.
Stock Split	Stock Split In December 2021, the Company's Board of Directors approved a two -for-one stock split in the form of a 100% stock dividend of the Company’s common stock, payable to stockholders of record on December 20, 2021. The additional shares were distributed on January 4, 2022. All share and per share amounts (except par value) have been retroactively adjusted to reflect the stock split. There was no net effect on total stockholders' equity as a result of the stock split. Upon distribution of the dividend, the total number of shares outstanding increased from 18,365,878 to 36,731,756 .
Accounting Estimates	Accounting Estimates The preparation of financial statements in conformity with Generally Accepted Accounting Principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent gains and losses at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Critical estimates include management’s judgments associated with reserves for sales returns and allowances, allowance for doubtful accounts, inventory reserves, valuation of intangible assets and income taxes. Actual results could differ from those estimates.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The methods and assumptions used to estimate the fair value of the following classes of financial instruments were: Current Assets and Current Liabilities - The carrying amount of cash and cash equivalents, certificates of deposits, current receivables and payables and certain other short-term financial instruments approximate their fair value as of March 31, 2022 and June 30, 2021 due to their short-term maturities. Long-term debt and lease liabilities reflect fair value based on prevailing market rates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include approximately $63,000 of short-term time deposits at both March 31, 2022 and June 30, 2021, respectively. The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The Company has cash balances in banks in excess of the maximum amount insured by the FDIC and other international agencies as of March 31, 2022 and June 30, 2021. The Company has not historically experienced any credit losses with balances in excess of FDIC limits.
Marketable Securities.	Marketable Securities The Company’s marketable securities include investments in mutual funds, which invest primarily in various government and corporate obligations, stocks and money market funds. The Company’s marketable securities are reported at fair value with the related unrealized and realized gains and losses included in other expense (income). Realized gains or losses on mutual funds are determined on a specific identification basis. The Company would record an impairment charge if the cost of the available-for-sale securities exceeds the estimated fair value of the securities and the decline in value is determined to be other-than-temporary. During the three and nine months ended March 31, 2022, the Company did not record an impairment charge regarding its investment in marketable securities because management believes, based on its evaluation of the circumstances, that the decline in fair value below the cost of certain of the Company’s marketable securities is temporary.
Accounts Receivable	Accounts Receivable Accounts receivable is stated net of the reserves for doubtful accounts of $226,000 as of both March 31, 2022 and June 30, 2021. Our reserves for doubtful accounts are subjective critical estimates that have a direct impact on reported net earnings. These reserves are based upon the evaluation of our accounts receivable aging, specific exposures, sales levels and historical trends.
Inventories	Inventories Inventories are valued at the lower of cost or net realizable value, with cost being determined on the first-in, first-out (FIFO) method. The reported net value of inventory includes finished saleable products, work-in-process and raw materials that will be sold or used in future periods. Inventory costs include raw materials, direct labor and overhead. The Company’s overhead expenses are applied based, in part, upon estimates of the proportion of those expenses that are related to procuring and storing raw materials as compared to the manufacture and assembly of finished products. These proportions, the method of their application, and the resulting overhead included in ending inventory, are based in part on subjective estimates and actual results could differ from those estimates. In addition, the Company records an inventory obsolescence reserve, which represents any excess of the cost of the inventory over its estimated realizable value. This reserve is calculated using an estimated obsolescence percentage applied to the inventory based on age, historical trends, requirements to support forecasted sales, and the ability to find alternate applications of its raw materials and to convert finished product into alternate versions of the same product to better match customer demand. In addition, and as necessary, the Company may establish specific reserves for future known or anticipated events. There is inherent professional judgment and subjectivity made by both production and engineering members of management in determining the estimated obsolescence percentage. The Company also regularly reviews the period over which its inventories will be converted to sales. Any inventories expected to convert to sales beyond 12 months from the balance sheet date are classified as non-current.
Property, Plant, and Equipment	Property, Plant, and Equipment Property, plant, and equipment are carried at cost less accumulated depreciation. Expenditures for maintenance and repairs are charged to expense as incurred; costs of major renewals and improvements are capitalized. At the time property and equipment are retired or otherwise disposed of, the cost and accumulated depreciation are eliminated from the asset and accumulated depreciation accounts and the profit or loss on such disposition is reflected in income. Depreciation is recorded over the estimated service lives of the related assets using primarily the straight-line method. Amortization of leasehold improvements is calculated by using the straight-line method over the estimated useful life of the asset or lease term, whichever is shorter.
Long-Lived and Intangible Assets	Long-Lived and Intangible Assets Long-lived assets are amortized over their useful lives and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets in question may not be recoverable. Impairment would be recorded in circumstances where undiscounted cash flows expected to be generated by an asset are less than the carrying value of that asset. Intangible assets determined to have indefinite lives were not amortized but were tested for impairment at least annually. The Company’s acquisition of substantially all of the assets and certain liabilities of G. Marks Hardware, Inc. (“Marks”) in August 2008 included intangible assets recorded at fair value on the date of acquisition. The customer relationships are amortized over their estimated useful lives of twenty years. At the acquisition date, the Marks trade name was deemed to have an indefinite life. During the 4th quarter of fiscal 2020, the Company determined that the trade-name was impaired. Accordingly, the Company recorded an impairment charge of $1,852,000 and reclassified the remaining balance of the underlying asset from indefinite-lived to a long-lived asset with a remaining useful life of 20 years as of June 30, 2020. Changes in intangible assets are as follows (in thousands): March 31, 2022 June 30, 2021 Carrying Accumulated Net book Carrying Accumulated Net book value amortization value value amortization value Customer relationships $ 9,800 (9,096) $ 704 $ 9,800 $ (8,955) $ 845 Trade name 4,048 (354) 3,694 4,048 (202) 3,846 $ 13,848 $ (9,450) $ 4,398 $ 13,848 $ (9,157) $ 4,691 Amortization expense for intangible assets subject to amortization was approximately $98,000 and $106,000 for the three months ended March 31, 2022 and 2021, respectively. Amortization expense for intangible assets subject to amortization was approximately $293,000 and $319,000 for the nine months ended March 31, 2022 and 2021, respectively. Amortization expense for each of the next five fiscal years is estimated to be as follows: 2022 - $390,000; 2023 - $361,000; 2024 - $336,000; 2025 - $315,000; and 2026 - $297,000. The weighted average remaining amortization period for intangible assets was 16.3 years and 16.9 years at March 31, 2022 and June 30, 2021, respectively.
Revenue Recognition	Revenue Recognition Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. For product sales, the Company typically transfers control at a point in time upon shipment or delivery of the product. For monthly communication services the Company satisfies its performance obligation as the services are rendered and therefore recognizes revenue over the monthly period. Typically timing of revenue recognition coincides with the timing of invoicing to the customers, at which time the Company has an unconditional right to consideration. As such, the Company typically records a receivable when revenue is recognized. The contract with the customer states the final terms of the sale, including the description, quantity, and price of each product purchased. Payment for product sales is typically due within 30 and 180 days of the delivery date. Payment for monthly communication services is billed on a monthly basis and is typically due at the beginning of the month of service. The Company provides limited standard warranty for defective products, usually for a period of 24 to 36 months. The Company accepts returns for such defective products as well as for other limited circumstances. The Company also provides rebates to customers for meeting specified purchasing targets and other coupons or credits in limited circumstances. The Company establishes reserves for the estimated returns, rebates and credits and measures such variable consideration based on the expected value method using an analysis of historical data. Changes to the estimated variable consideration in subsequent periods are not material. The Company analyzes sales returns and is able to make reasonable and reliable estimates of product returns based on the Company’s past history. Estimates for sales returns are based on several factors including actual returns and based on expected return data communicated to it by its customers. Accordingly, the Company believes that its historical returns analysis is an accurate basis for its allowance for sales returns. Actual results could differ from those estimates.
Advertising and Promotional Costs	Advertising and Promotional Costs Advertising and promotional costs are included in "Selling, General and Administrative" expenses in the consolidated statements of income and are expensed as incurred. Advertising expense for the three months ended March 31, 2022 and 2021 was $655,000 and $229,000, respectively. Advertising expense for the nine months ended March 31, 2022 and 2021 was $2,253,000 and $919,000, respectively
Research and Development Costs	Research and Development Costs Research and development (“R&D”) costs incurred by the Company are charged to expense as incurred and are included in operating expenses in the consolidated statements of income. Company-sponsored R&D expense for the three months ended March 31, 2022 and 2021 was $2,009,000 and $1,902,000, respectively. R&D expense for the nine months ended March 31, 2022 and 2021 was $5,918,000 and $5,675,000, respectively.
Income Taxes	Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred income tax expense represents the change during the period in the deferred tax assets and deferred tax liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company measures and recognizes the tax implications of positions taken or expected to be taken in its tax returns on an ongoing basis. The Company records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process in which (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority.
Net Income per Share	Net Income per Share Basic net income per common share (Basic EPS) is computed by dividing net income by the weighted average number of common shares outstanding. Diluted net income per common share (Diluted EPS) is computed by dividing net income by the weighted average number of common shares and dilutive common share equivalents and convertible securities then outstanding. The following provides a reconciliation of information used in calculating the per share amounts for the three months ended March 31, 2022 and 2021 (in thousands, except share and per share data): Net Income Weighted Average Shares Net Income per Share 2022 2021 2022 2021 2022 2021 Basic EPS $ 3,273 $ 4,360 36,743 36,697 $ 0.09 $ 0.12 Effect of Dilutive Securities: Stock Options — — 136 126 — — Diluted EPS $ 3,273 $ 4,360 36,879 36,823 $ 0.09 $ 0.12 Options to purchase 388,000 and 16,000 shares of common stock were excluded for the three months ended March 31, 2022 and 2021, respectively, and were not included in the computation of Diluted EPS because their inclusion would be anti-dilutive. These options were still outstanding at the end of the period. The following provides a reconciliation of information used in calculating the per share amounts for the nine months ended March 31, 2022 and 2021 (in thousands, except share and per share data): Weighted Average Net Income per Net Income Shares Share 2022 2021 2022 2021 2022 2021 Basic EPS $ 12,062 $ 9,876 36,723 36,696 $ 0.33 $ 0.27 Effect of Dilutive Securities: Stock Options — — 150 108 — — Diluted EPS $ 12,062 $ 9,876 36,873 36,804 $ 0.33 $ 0.27 Options to purchase 156,145 and 53,333 shares of common stock were excluded for the nine months ended March 31, 2022 and 2021, respectively, and were not included in the computation of Diluted EPS because their inclusion would be anti-dilutive. These options were still outstanding at the end of the period.
Stock-Based Compensation	Stock-Based Compensation The Company has established four share incentive programs as discussed in Note 9. Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense on a straight-line basis over the vesting period. Determining the fair value of share-based awards at the grant date requires assumptions and judgments about expected volatility and forfeiture rates, among other factors. Stock-based compensation costs of $35,000 and $84,000 were recognized for the three months ended March 31, 2022 and 2021, respectively. Stock-based compensation costs of $1,379,000 and $272,000 were recognized for the nine months ended March 31, 2022 and 2021, respectively.
Foreign Currency	Foreign Currency The Company has determined the functional currency of all foreign subsidiaries is the U.S. Dollar. All foreign operations are considered a direct and integral part or extension of the Company’s operations. The day-to-day operations of all foreign subsidiaries are dependent on the economic environment of the U.S. Dollar. Therefore, no realized and unrealized gains and losses associated with foreign currency translation are recorded for the three or nine months ended March 31, 2022 or 2021.
Comprehensive Income	Comprehensive Income For the three and nine months ended March 31, 2022 and 2021, the Company’s operations did not give rise to material items includable in comprehensive income, which were not already included in net income. Accordingly, the Company’s comprehensive income approximates its net income for all periods presented.
Segment Reporting	Segment Reporting The Company’s reportable operating segments are determined based on the Company’s management approach. The management approach is based on the way that the chief operating decision maker organizes the segments within an enterprise for making operating decisions and assessing performance. The Company’s results of operations are reviewed by the chief operating decision maker on a consolidated basis and the Company operates in only one segment. The Company has presented required geographical data in Note 14.
Shipping and Handling Sales and Costs	Shipping and Handling Sales and Costs The Company records the amount billed to customers for shipping and handling in net sales ($106,000 and $91,000 in the three months ended March 31, 2022 and 2021, respectively and $318,000 and $290,000 in the nine months ended March 31, 2022 and 2021, respectively); and classifies the costs associated with these sales in cost of sales ($339,000 and $281,000 in the three months ended March 31, 2022 and 2021, respectively and $1,033,000 and $732,000 in the nine months ended March 31, 2022 and 2021, respectively).
Leases	Leases Effective July 1, 2019, the Company adopted the new lease accounting standard using the modified retrospective transition option of applying the new standard at the adoption date. In addition, we elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed us to not reassess (1) whether any expired or existing contracts are or contain leases, (2) lease classification for any expired or existing leases, and (3) initial direct costs for any existing leases. Adoption of the new standard resulted in the recording of an operating ROU asset and lease liabilities with previous guidance. See Note 13 – Commitments and Contingencies; Leases for additional accounting policies and transition disclosures.
Recently Issued Accounting Standards	Recently Issued Accounting Standards Reference Rate Reform (ASC Topic 848) In March 2020, the FASB issued authoritative guidance to provide optional relief for companies preparing for the discontinuation of interest rates such as the London Interbank Offered Rate (“LIBOR”), which is expected to be phased out at the end of calendar 2021, and applies to lease contracts, hedging instruments, held-to-maturity debt securities and debt arrangements that have LIBOR as the benchmark rate. In January 2021, the FASB issued authoritative guidance that makes amendments to the new rules on accounting for reference rate reform. The amendments clarify that for all derivative instruments affected by the changes to interest rates used for discounting, margining or contract price alignment, regardless of whether they reference LIBOR or another rate expected to be discontinued as a result of reference rate reform, an entity may apply certain practical expedients in ASC Topic 848. Effective for the Company – This guidance can be applied for a limited time through December 31, 2022. The guidance will no longer be available to apply after December 31, 2022. Impact on consolidated financial statements – The Company’s bank has notified the Company that its LIBOR option will continue to be available to it through June 30, 2023, at which time the option will shift to the Benchmark Replacement as defined in the agreement with the bank (see Note 8). The Company does not believe that this transition will have a material impact on its financial condition.

Nature of Business and Summar_3

Nature of Business and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Mar. 31, 2022
Nature of Business and Summary of Significant Accounting Policies
Schedule of changes in intangible assets	Changes in intangible assets are as follows (in thousands): March 31, 2022 June 30, 2021 Carrying Accumulated Net book Carrying Accumulated Net book value amortization value value amortization value Customer relationships $ 9,800 (9,096) $ 704 $ 9,800 $ (8,955) $ 845 Trade name 4,048 (354) 3,694 4,048 (202) 3,846 $ 13,848 $ (9,450) $ 4,398 $ 13,848 $ (9,157) $ 4,691
Schedule of reconciliation of earnings per share	The following provides a reconciliation of information used in calculating the per share amounts for the three months ended March 31, 2022 and 2021 (in thousands, except share and per share data): Net Income Weighted Average Shares Net Income per Share 2022 2021 2022 2021 2022 2021 Basic EPS $ 3,273 $ 4,360 36,743 36,697 $ 0.09 $ 0.12 Effect of Dilutive Securities: Stock Options — — 136 126 — — Diluted EPS $ 3,273 $ 4,360 36,879 36,823 $ 0.09 $ 0.12 The following provides a reconciliation of information used in calculating the per share amounts for the nine months ended March 31, 2022 and 2021 (in thousands, except share and per share data): Weighted Average Net Income per Net Income Shares Share 2022 2021 2022 2021 2022 2021 Basic EPS $ 12,062 $ 9,876 36,723 36,696 $ 0.33 $ 0.27 Effect of Dilutive Securities: Stock Options — — 150 108 — — Diluted EPS $ 12,062 $ 9,876 36,873 36,804 $ 0.33 $ 0.27

Revenue Recognition and Contr_2

Revenue Recognition and Contracts with Customers (Tables)	9 Months Ended
Revenue Recognition and Contracts with Customers (Tables)	Mar. 31, 2022
Revenue Recognition and Contracts with Customers
Schedule of disaggregation of revenues	Three months ended March 31, Nine months ended March 31, 2022 2021 2022 2021 Major Product Lines: Intrusion and access alarm products $ 12,667 $ 8,956 $ 33,230 $ 24,517 Door locking devices 11,206 10,379 33,850 29,732 Services 12,032 8,893 33,284 24,357 Total Revenues $ 35,905 $ 28,228 $ 100,364 $ 78,606

Marketable Securities (Tables)

Marketable Securities (Tables)	9 Months Ended
Marketable Securities (Tables)	Mar. 31, 2022
Marketable Securities
Schedule of net gains and losses of marketable securities	Three months ended March 31, Nine months ended March 31, 2022 2021 2022 2021 Net gains recognized during the period on marketable securities $ 19 $ 3 $ 58 $ 3 Less: Net gains recognized during the year on marketable securities sold during the period — — — — Unrealized (losses) gains recognized during the reporting year on marketable securities still held at the reporting date (191) (42) (226) (42) $ (172) $ (39) $ (168) $ (39)
Schedule of fair value of marketable securities	The following tables summarize the Company’s investments at March 31, 2022 and June 30, 2021, respectively (in thousands): March 31, 2022 June 30, 2021 Unrealized Unrealized Cost Fair Value Gain (Loss) Cost Fair Value Gain (Loss) Marketable Securities $ 5,481 $ 5,245 $ (236) $ 5,422 $ 5,413 $ (9)

Inventories (Tables)

Inventories (Tables)	9 Months Ended
Inventories (Tables)	Mar. 31, 2022
Inventories
Schedule of inventory	March 31, June 30, 2022 2021 Component parts $ 27,950 $ 17,245 Work-in-process 8,016 6,158 Finished product 6,712 8,297 $ 42,678 $ 31,700 Classification of inventories, net of reserves: Current $ 35,101 $ 24,933 Non-current 7,577 6,767 $ 42,678 $ 31,700

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	9 Months Ended
Property, Plant, and Equipment (Tables)	Mar. 31, 2022
Property, Plant, and Equipment
Schedule of property, plant and equipment	Property, plant and equipment consist of the following (in thousands): March 31, 2022 June 30, 2021 Useful Life in Years Land $ 904 $ 904 N/A Buildings 8,911 8,911 30 to 40 Molds and dies 7,478 7,416 3 to 5 Furniture and fixtures 2,936 2,813 5 to 10 Machinery and equipment 26,498 25,548 7 to 10 Building improvements 2,463 2,409 Shorter of the lease term or life of asset 49,190 48,001 Less: accumulated depreciation and amortization (41,193) (40,165) $ 7,997 $ 7,836

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
Long-Term Debt (Tables)	Mar. 31, 2022
Long-Term Debt
Schedule of debt instruments	Outstanding balances and interest rates as of March 31, 2022 and June 30, 2021 are as follows (dollars in thousands): March 31, 2022 June 30, 2021 Outstanding Interest Rate Outstanding Interest Rate Revolving line of credit $ — n/a $ — n/a Term loans — n/a % 3,904 1 % — 3,904 Less: current maturities — (2,386) Long-term debt $ — $ 1,518

Stock Option (Tables)

Stock Option (Tables)	9 Months Ended
Stock Option (Tables)	Mar. 31, 2022
2012 Employee Stock Option Plan
Stock Option
Schedule of fair value and valuation assumptions	2022 2021 Risk-free interest rates 1.64 % n/a % Expected lives 6.18 Years n/a Expected volatility 43 % n/a % Expected dividend yields 0 % n/a %
Schedule of plan activity	2022 2021 Weighted average Weighted average Options exercise price Options exercise price Outstanding, beginning of year 214,080 $ 9.59 235,680 $ 9.42 Granted 338,000 $ 23.17 — — Forfeited/Lapsed — — (8,000) $ 4.08 Exercised (29,000) $ 5.45 (3,600) $ 5.70 Outstanding, end of period 523,080 $ 18.59 224,080 $ 9.67 Exercisable, end of period 164,776 $ 15.01 89,200 $ 7.92 Weighted average fair value at grant date of options granted $ 12.16 n/a Total intrinsic value of options exercised $ 502,000 $ 42,000 Total intrinsic value of options outstanding $ 1,903,000 $ 1,735,000 Total intrinsic value of options exercisable $ 1,085,000 $ 847,000
Schedule of options outstanding	Options outstanding Options exercisable Weighted average Number remaining Weighted average Number Weighted average Range of exercise prices outstanding contractual life exercise price exercisable exercise price $2.19 ‑ $24.75 523,080 8.67 $ 18.59 164,776 $ 15.01 523,080 8.67 $ 18.59 164,776 $ 15.01
2012 Non-Employee Stock Option Plan
Stock Option
Schedule of fair value and valuation assumptions	2022 2021 Risk-free interest rates 1.68 % n/a % Expected lives 6.18 Years n/a Expected volatility 43 % n/a % Expected dividend yields 0 % n/a %
Schedule of plan activity	2022 2021 Weighted average Weighted average Options exercise price Options exercise price Outstanding, beginning of year 12,000 $ 6.55 24,000 $ 5.15 Granted 9,600 $ 22.93 — — Forfeited/Lapsed — — — — Exercised — — (2,400) $ 4.35 Outstanding, end of period 21,600 $ 13.83 21,600 $ 5.23 Exercisable, end of period 12,480 $ 8.48 14,640 $ 4.57 Weighted average fair value at grant date of options granted $ 12.58 n/a Total intrinsic value of options exercised n/a $ 31,000 Total intrinsic value of options outstanding $ 168,000 $ 263,000 Total intrinsic value of options exercisable $ 155,000 $ 188,000
Schedule of options outstanding	Options outstanding Options exercisable Weighted average Weighted Weighted Number remaining average exercise Number average exercise Range of exercise prices outstanding contractual life price exercisable price $4.35 - $22.93 21,600 7.78 $ 13.83 12,480 $ 8.48 21,600 7.78 $ 13.83 12,480 $ 8.48
2018 Non-Employee Stock Option Plan
Stock Option
Schedule of fair value and valuation assumptions	2022 2021 Risk-free interest rates 1.68 % n/a % Expected lives 6.18 Years n/a Expected volatility 43 % n/a % Expected dividend yields 0 % n/a %
Schedule of plan activity	2022 2021 Weighted average Weighted average Options exercise price Options exercise price Outstanding, beginning of year 70,100 $ 11.93 96,800 $ 11.74 Granted 23,500 $ 22.93 — — Forfeited/Lapsed — — — — Exercised (4,600) $ 10.43 (3,200) $ 8.10 Outstanding, end of period 89,000 $ 14.91 93,600 $ 11.87 Exercisable, end of period 45,040 $ 12.98 40,960 $ 11.54 Weighted average fair value at grant date of options granted $ 12.58 n/a Total intrinsic value of options exercised $ 58,000 $ 30,000 Total intrinsic value of options outstanding $ 556,000 $ 519,000 Total intrinsic value of options exercisable $ 351,000 $ 241,000
Schedule of options outstanding	Options outstanding Options exercisable Weighted average Weighted Weighted Number remaining average exercise Number average exercise Range of exercise prices outstanding contractual life price exercisable price $8.10 - $22.93 89,000 8.00 $ 14.91 45,040 $ 12.98 89,000 8.00 $ 14.91 45,040 $ 12.98
2020 Non-Employee Stock Option Plan
Stock Option
Schedule of fair value and valuation assumptions	2022 2021 Risk-free interest rates 1.68 % 0.62 % Expected lives 6.18 Years 10 Expected volatility 43 % 45 % Expected dividend yields 0 % 0 %
Schedule of plan activity	2022 2021 Weighted average Weighted average Options exercise price Options exercise price Outstanding, beginning of year 10,000 $ 11.40 — — Granted 16,900 $ 22.93 10,000 $ 11.40 Forfeited/Lapsed — — — — Exercised — — — — Outstanding, end of period 26,900 $ 18.64 10,000 $ 11.40 Exercisable, end of period 7,380 $ 16.68 2,000 $ 11.40 Weighted average fair value at grant date of options granted $ 12.58 $ 6.10 Total intrinsic value of options exercised n/a n/a Total intrinsic value of options outstanding $ 91,000 $ 60,000 Total intrinsic value of options exercisable $ 36,000 $ 12,000
Schedule of options outstanding	Options outstanding Options exercisable Weighted average Number remaining Weighted average Number Weighted average Range of exercise prices outstanding contractual life exercise price exercisable exercise price $11.40 - $22.93 26,900 9.14 $ 18.64 7,380 $ 16.68 26,900 9.14 $ 18.64 7,380 $ 16.68

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
Commitments and Contingencies (Tables)	Mar. 31, 2022
Commitments and Contingencies
Schedule of supplemental balance sheet information	Weighted-average remaining lease term 70 Years Weighted-average discount rate 3.55 %
Schedule of maturities of lease liabilities	The following is a schedule, by years, of maturities of lease liabilities as of March 31, 2022 (in thousands): Year Ending June 30, Amount 2022 $ 72 2023 280 2024 270 2025 261 2026 251 Thereafter 6,222 Total $ 7,356

Geographical Data (Tables)

Geographical Data (Tables)	9 Months Ended
Geographical Data (Tables)	Mar. 31, 2022
Geographical Data
Schedule of sales to external customers	Financial Information Relating to Domestic and Foreign Operations (in thousands): Three months ended March 31, Nine months ended March 31, 2022 2021 2022 2021 Sales to external customers (1): Domestic $ 35,522 $ 27,877 $ 99,327 $ 77,559 Foreign 383 351 1,037 1,047 Total Net Sales $ 35,905 $ 28,228 $ 100,364 $ 78,606 (1) All of the Company’s sales originate in the United States and are shipped primarily from the Company’s facilities in the United States. There were no sales into any one foreign country in excess of 10% of total Net Sales.
Schedule of assets in individual foreign country by country	March 31, 2022 June 30, 2021 Identifiable assets: United States $ 94,446 $ 90,941 Dominican Republic (2) 42,660 31,610 Total Identifiable Assets $ 137,106 $ 122,551 (2) Consists primarily of inventories (March 31, 2022 = $31,847; June 30, 2021 = $20,712), operating lease assets (March 31, 2022 = $7,356; June 30, 2021 = $7,373) and fixed assets (March 31, 2022 = $3,297; June 30, 2021 = $3,208) located at the Company’s principal manufacturing facility in the Dominican Republic.

Nature of Business and Summar_4

Nature of Business and Summary of Significant Accounting Policies (Details)	1 Months Ended	3 Months Ended		9 Months Ended
	Dec. 31, 2021shares	Mar. 31, 2022USD ($)shares	Mar. 31, 2021USD ($)	Mar. 31, 2022USD ($)segmentshares	Mar. 31, 2021USD ($)segment	Jun. 30, 2021USD ($)shares	Jul. 01, 2019USD ($)	Sep. 16, 2014shares
Nature of Business and Summary of Significant Accounting Policies
Stock split	2
Percentage of stock dividend	100.00%
Cash and cash equivalents, short term deposits		$ 63,000		$ 63,000		$ 63,000
Stock Issued During Period, Shares, Stock Splits \| shares	18,365,878
Common stock, outstanding (in shares) \| shares	36,731,756	36,733,540		36,733,540		36,702,168		38,800,000
Allowance for doubtful		$ 226,000		$ 226,000		$ 226,000
Payment terms (in days)				30 and 180
Warranty term (in months)				24 to 36
Stock-Based Compensation
Number of share incentive programs				four
Stock based compensation expense		35,000	$ 84,000	$ 1,379,000	$ 272,000
Foreign currency realized/unrealized gains(loss)		0	$ 0	$ 0	$ 0
Segment Reporting
Operating segments (in segments) \| segment				1	1
Leases
Lease, Practical Expedients, Package [true false]				true
Operating lease liability							$ 7,700,000
Operating lease asset		$ 7,356,000		$ 7,356,000		$ 7,373,000	$ 7,700,000

Nature of Business and Summar_5

Nature of Business and Summary of Significant Accounting Policies - Intangible Assets (Details) - USD ($)	1 Months Ended	3 Months Ended			9 Months Ended		12 Months Ended
	Aug. 31, 2008	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021
Intangible assets
Impairment of intangible asset				$ 1,852,000
Useful life				20 years
Amortization expense		$ 98,000	$ 106,000		$ 293,000	$ 319,000
Changes in intangible assets
Carrying value		13,848,000			13,848,000
Accumulated amortization		(9,450,000)			(9,450,000)
Net book value		4,398,000			4,398,000		$ 4,691,000
Future amortization expense
2022		390,000			390,000
2023		361,000			361,000
2024		336,000			336,000
2025		315,000			315,000
2026		297,000			$ 297,000
Weighted average remaining period					16 years 3 months 18 days		16 years 10 months 24 days
Customer relationships [Member]
Intangible assets
Useful life	20 years
Changes in intangible assets
Carrying value		9,800,000			$ 9,800,000
Accumulated amortization		(9,096,000)			(9,096,000)
Net book value		704,000			704,000
Trade name
Changes in intangible assets
Carrying value		4,048,000			4,048,000
Accumulated amortization		(354,000)			(354,000)
Net book value		$ 3,694,000			$ 3,694,000

Nature of Business and Summar_6

Nature of Business and Summary of Significant Accounting Policies - Income Statement location (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Advertising and promotion costs	$ 655,000	$ 229,000	$ 2,253,000	$ 919,000
Research and development	2,009,000	1,902,000	5,918,000	5,675,000
Cost of sales	20,872,000	15,318,000	60,432,000	43,601,000
Cost of sales [Member] \| Shipping and Handling
Cost of sales	106,000	91,000	318,000	290,000
Sales revenue, net \| Shipping and Handling
Cost of sales	$ 339,000	$ 281,000	$ 1,033,000	$ 732,000

Nature of Business and Summar_7

Nature of Business and Summary of Significant Accounting Policies - Net Income per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Nature of Business and Summary of Significant Accounting Policies
Basic EPS	$ 3,273	$ 4,360	$ 12,062	$ 9,876
Diluted EPS	$ 3,273	$ 4,360	$ 12,062	$ 9,876
Weighted average
Basic (in shares)	36,743,000	36,697,000	36,723,000	36,696,000
Stock Options	136,000	126,000	150,000	108,000
Diluted (in shares)	36,879,000	36,823,000	36,873,000	36,804,000
Effect of Dilutive Securities:
Basic (in dollars per share)	$ 0.09	$ 0.12	$ 0.33	$ 0.27
Diluted (in dollars per share)	$ 0.09	$ 0.12	$ 0.33	$ 0.27
Excluded from diluted EPS	388,000	16,000	156,145	53,333

Revenue Recognition and Contr_3

Revenue Recognition and Contracts with Customers - Adoption (Details) - segment	9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue Recognition and Contracts with Customers
Operating segments (in segments)	1	1

Revenue Recognition and Contr_4

Revenue Recognition and Contracts with Customers (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021
Revenue:
Refund liabilities	$ 4,771,000		$ 4,771,000		$ 4,277,000
Sales revenue, net \| Percentage of gross sales \| Revenue from rights
Revenue:
Concentration risk (as a percent)	11.00%	10.00%	10.00%	9.00%
Other current assets
Revenue:
Return-related assets	$ 961,000		$ 961,000		$ 890,000

Revenue Recognition and Contr_5

Revenue Recognition and Contracts with Customers - Disaggregation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Revenue:
Revenues	$ 35,905	$ 28,228	$ 100,364	$ 78,606
Intrusion and access alarm products
Revenue:
Revenues	12,667	8,956	33,230	24,517
Door locking devices
Revenue:
Revenues	11,206	10,379	33,850	29,732
Services
Revenue:
Revenues	$ 12,032	$ 8,893	$ 33,284	$ 24,357

Business and Credit Concentra_2

Business and Credit Concentrations (Details) - Accounts Receivable - Credit Concentration Risk - customer	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2021
Concentration risks
Number of customers	3	3
customer One
Concentration risks
Concentration risk (as a percent)	13.00%	12.00%
customer Two
Concentration risks
Concentration risk (as a percent)	15.00%	19.00%
customer Three
Concentration risks
Concentration risk (as a percent)	13.00%	11.00%

Marketable Securities (Details)

Marketable Securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Marketable Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Marketable Securities
Net gains recognized during the period on marketable securities	$ 19	$ 3	$ 58	$ 3
Unrealized (losses) gains recognized during the reporting year on marketable securities still held at the reporting date	(191)	(42)	(226)	(42)
Marketable securities	$ (172)	$ (39)	$ (168)	$ (39)

Marketable Securities - Fair Va

Marketable Securities - Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021
Marketable Securities:
Cost			$ 58
Fair Value	$ 5,245		5,245		$ 5,413
Unrealized Gain (Loss)	(191)	$ (42)	(226)	$ (42)
Fair Value, Inputs, Level 1
Marketable Securities:
Cost			5,481		5,422
Fair Value	$ 5,245		5,245		5,413
Unrealized Gain (Loss)			$ (236)		$ (9)

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Jun. 30, 2021
Inventories
Component parts	$ 27,950	$ 17,245
Work-in-process	8,016	6,158
Finished product	6,712	8,297
Inventory, net of reserves	42,678	31,700
Current	35,101	24,933
Non-current	7,577	6,767
Total Inventory	$ 42,678	$ 31,700

Property, Plant, and Equipmen_2

Property, Plant, and Equipment (Details) - USD ($)	3 Months Ended		9 Months Ended
Property, Plant, and Equipment (Details) - USD ($)	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021
Property plant and equipment
Gross	$ 49,190,000		$ 49,190,000		$ 48,001,000
Less: accumulated depreciation and amortization	(41,193,000)		(41,193,000)		(40,165,000)
Net	7,997,000		7,997,000		7,836,000
Depreciation and amortization	338,000	$ 302,000	1,028,000	$ 939,000
Land [Member]
Property plant and equipment
Gross	904,000		904,000		904,000
Buildings [Member]
Property plant and equipment
Gross	8,911,000		$ 8,911,000		8,911,000
Buildings [Member] \| Minimum [Member]
Property plant and equipment
Useful life			30 years
Buildings [Member] \| Maximum [Member]
Property plant and equipment
Useful life			40 years
Molds and dies [Member]
Property plant and equipment
Gross	7,478,000		$ 7,478,000		7,416,000
Molds and dies [Member] \| Minimum [Member]
Property plant and equipment
Useful life			3 years
Molds and dies [Member] \| Maximum [Member]
Property plant and equipment
Useful life			5 years
Furniture and fixtures
Property plant and equipment
Gross	2,936,000		$ 2,936,000		2,813,000
Furniture and fixtures \| Minimum [Member]
Property plant and equipment
Useful life			5 years
Furniture and fixtures \| Maximum [Member]
Property plant and equipment
Useful life			10 years
Machinery and equipment
Property plant and equipment
Gross	26,498,000		$ 26,498,000		25,548,000
Machinery and equipment \| Minimum [Member]
Property plant and equipment
Useful life			7 years
Machinery and equipment \| Maximum [Member]
Property plant and equipment
Useful life			10 years
Building improvements
Property plant and equipment
Gross	$ 2,463,000		$ 2,463,000		$ 2,409,000
Useful life (estimated)			Shorter of the lease term or life of asset

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
Income Taxes (Details) - USD ($)	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021	Jun. 30, 2020
Income taxes
Income Tax Expense (Benefit)	$ 1,132,000	$ 624,000	$ 1,771,000	$ 1,422,000
Penalties and interest expense			6,000,000
Penalties and interest accrual	82,000,000		82,000,000
Unrecognized, period increase (decrease)			678,000,000
Additional interest expense accrued	$ 6,000,000		6,000,000
Internal Revenue Service \| Tax Year 2017
Income taxes
Penalties and interest expense					$ 68,000
Payments for taxes		$ 399,000
Examination, interest expense			$ 97,000
Internal Revenue Service \| Domestic Tax Authority \| Tax Year 2016
Income taxes
Provision for incremental Income tax liability						$ 762,000
Internal Revenue Service \| State Jurisdiction \| Tax Year 2016
Income taxes
Provision for incremental Income tax liability						$ 70,000

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	3 Months Ended	9 Months Ended
Long-Term Debt (Details) - USD ($)	Sep. 30, 2021	Mar. 31, 2022	Jun. 30, 2021
Debt by current and non-current
Outstanding			$ 3,904,000
Less: current maturities			(2,386,000)
Long-term debt			$ 1,518,000
Paycheck Protection Program
Long-term debt disclosure:
Loan forgiven	$ 3,904,000
Debt forgiveness, audit term		6 years
Term Loans
Long-term debt disclosure:
Interest rate			1.00%
Debt by current and non-current
Outstanding			$ 3,904,000
Term Loans \| Paycheck Protection Program
Long-term debt disclosure:
Debt instrument, face		$ 3,904,000
Revolver Agreement
Long-term debt disclosure:
Line of credit, maximum borrowing capacity		$ 11,000,000	$ 11,000,000
Stock collateral (as a percent)		65%
Revolver Agreement \| LIBOR \| Minimum [Member]
Long-term debt disclosure:
Interest rate		1.15%
Revolver Agreement \| LIBOR \| Maximum [Member]
Long-term debt disclosure:
Interest rate		2.00%
Revolver Agreement \| Prime rate
Long-term debt disclosure:
Basis spread		0.25%

Stock Option - Fair Value (Deta

Stock Option - Fair Value (Details)	9 Months Ended
Stock Option - Fair Value (Details)	Mar. 31, 2022	Mar. 31, 2021
2012 Employee Stock Option Plan
Stock option
Risk-free interest rates	1.64%
Expected lives	6 years 2 months 4 days
Expected volatility	43.00%
Expected dividend yields	0.00%
2012 Non-Employee Stock Option Plan
Stock option
Risk-free interest rates	1.68%
Expected lives	6 years 2 months 4 days
Expected volatility	43.00%
Expected dividend yields	0.00%
2018 Non-Employee Stock Option Plan
Stock option
Risk-free interest rates	1.68%
Expected lives	6 years 2 months 4 days
Expected volatility	43.00%
Expected dividend yields	0.00%
2020 Non-Employee Stock Option Plan
Stock option
Risk-free interest rates	1.68%	0.62%
Expected lives	6 years 2 months 4 days	10 years
Expected volatility	43.00%	45.00%
Expected dividend yields	0.00%	0.00%

Stock Option - Activity (Detail

Stock Option - Activity (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
Stock Option - Activity (Details) - USD ($)	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021
Weighted average exercise price
Granted (per share)				$ 11.40
Weighted average exercise price, end		$ 11.40		11.40
Exercisable, end of period, weighted average exercise price		$ 11.40		$ 11.40
2012 Employee Stock Option Plan
Options
Outstanding, beginning of year			214,080	235,680	235,680
Granted	0	0	338,000	0
Forfeited/Lapsed				(8,000)
Exercised	(1,000)		(29,000)	(3,600)
Outstanding, end of period	523,080	224,080	523,080	224,080	214,080
Exercisable, end of period	164,776	89,200	164,776	89,200
Weighted average exercise price
Weighted average exercise price, bgn			$ 9.59	$ 9.42	$ 9.42
Granted (per share)			23.17
Forfeited/Lapsed (per share)				4.08
Exercised (per share)			5.45	5.70
Weighted average exercise price, end	$ 18.59	$ 9.67	18.59	9.67	$ 9.59
Exercisable, end of period, weighted average exercise price	$ 15.01	$ 7.92	15.01	$ 7.92
Additional disclosures
Weighted average fair value at grant date of options granted			$ 12.16
Total intrinsic value of options exercised			$ 502,000	$ 42,000
Total intrinsic value of options outstanding	$ 1,903,000	$ 1,735,000	1,903,000	1,735,000
Total intrinsic value of options exercisable	$ 1,085,000	$ 847,000	$ 1,085,000	$ 847,000
2012 Non-Employee Stock Option Plan
Options
Outstanding, beginning of year			12,000	24,000	24,000
Granted	0		9,600	0
Exercised	0	(2,400)	0	(2,400)
Outstanding, end of period	21,600	21,600	21,600	21,600	12,000
Exercisable, end of period	12,480	14,640	12,480	14,640
Weighted average exercise price
Weighted average exercise price, bgn			$ 6.55	$ 5.15	$ 5.15
Granted (per share)			22.93
Exercised (per share)			0	4.35
Weighted average exercise price, end	$ 13.83	$ 5.23	13.83	5.23	$ 6.55
Exercisable, end of period, weighted average exercise price	$ 8.48	$ 4.57	8.48	$ 4.57
Additional disclosures
Weighted average fair value at grant date of options granted			$ 12.58
Total intrinsic value of options exercised				$ 31,000
Total intrinsic value of options outstanding	$ 168,000	$ 263,000	$ 168,000	263,000
Total intrinsic value of options exercisable	$ 155,000	$ 188,000	$ 155,000	$ 188,000
2018 Non-Employee Stock Option Plan
Options
Outstanding, beginning of year			70,100	96,800	96,800
Granted	0	0	23,500	0
Exercised	(1,600)	(3,200)	(4,600)	(3,200)
Outstanding, end of period	89,000	93,600	89,000	93,600	70,100
Exercisable, end of period	45,040	40,960	45,040	40,960
Weighted average exercise price
Weighted average exercise price, bgn			$ 11.93	$ 11.74	$ 11.74
Granted (per share)			22.93
Exercised (per share)			10.43	8.10
Weighted average exercise price, end	$ 14.91	$ 11.87	14.91	11.87	$ 11.93
Exercisable, end of period, weighted average exercise price	$ 12.98	$ 11.54	12.98	$ 11.54
Additional disclosures
Weighted average fair value at grant date of options granted			$ 12.58
Total intrinsic value of options exercised			$ 58,000	$ 30,000
Total intrinsic value of options outstanding	$ 556,000	$ 519,000	556,000	519,000
Total intrinsic value of options exercisable	$ 351,000	$ 241,000	$ 351,000	$ 241,000
2020 Non-Employee Stock Option Plan
Options
Outstanding, beginning of year			10,000	0	0
Granted	0	0	16,900	10,000
Exercised	0	0	0	0
Outstanding, end of period	26,900	10,000	26,900	10,000	10,000
Exercisable, end of period	7,380	2,000	7,380	2,000
Weighted average exercise price
Weighted average exercise price, bgn			$ 11.40
Granted (per share)			22.93
Weighted average exercise price, end	$ 18.64		18.64		$ 11.40
Exercisable, end of period, weighted average exercise price	$ 16.68		16.68
Additional disclosures
Weighted average fair value at grant date of options granted			$ 12.58	$ 6.10
Total intrinsic value of options outstanding	$ 91,000	$ 60,000	$ 91,000	$ 60,000
Total intrinsic value of options exercisable	$ 36,000	$ 12,000	$ 36,000	$ 12,000

Stock Option - Outstanding (Det

Stock Option - Outstanding (Details)	9 Months Ended
Stock Option - Outstanding (Details)	Mar. 31, 2022$ / sharesshares
2012 Employee Stock Option Plan
Share based compensation, exercise prices
Options outstanding (in shares) \| shares	523,080
Weighted average remaining contractual life	8 years 8 months 1 day
Weighted average exercise price	$ 18.59
Number exercisable \| shares	164,776
Exercisable, Weighted average exercise price	$ 15.01
2012 Employee Stock Option Plan \| Exercise price range
Share based compensation, exercise prices
Exercise price upper limit	24.75
Exercise price lower limit	$ 2.19
Options outstanding (in shares) \| shares	523,080
Weighted average remaining contractual life	8 years 8 months 1 day
Weighted average exercise price	$ 18.59
Number exercisable \| shares	164,776
Exercisable, Weighted average exercise price	$ 15.01
2012 Non-Employee Stock Option Plan
Share based compensation, exercise prices
Options outstanding (in shares) \| shares	21,600
Weighted average remaining contractual life	7 years 9 months 10 days
Weighted average exercise price	$ 13.83
Number exercisable \| shares	12,480
Exercisable, Weighted average exercise price	$ 8.48
2012 Non-Employee Stock Option Plan \| Exercise price range
Share based compensation, exercise prices
Exercise price upper limit	22.93
Exercise price lower limit	$ 4.35
Options outstanding (in shares) \| shares	21,600
Weighted average remaining contractual life	7 years 9 months 10 days
Weighted average exercise price	$ 13.83
Number exercisable \| shares	12,480
Exercisable, Weighted average exercise price	$ 8.48
2018 Non-Employee Stock Option Plan
Share based compensation, exercise prices
Options outstanding (in shares) \| shares	89,000
Weighted average remaining contractual life	8 years
Weighted average exercise price	$ 14.91
Number exercisable \| shares	45,040
Exercisable, Weighted average exercise price	$ 12.98
2018 Non-Employee Stock Option Plan \| Exercise price range
Share based compensation, exercise prices
Exercise price upper limit	22.93
Exercise price lower limit	$ 8.10
Options outstanding (in shares) \| shares	89,000
Weighted average remaining contractual life	8 years
Weighted average exercise price	$ 14.91
Number exercisable \| shares	45,040
Exercisable, Weighted average exercise price	$ 12.98
2020 Non-Employee Stock Option Plan
Share based compensation, exercise prices
Options outstanding (in shares) \| shares	26,900
Weighted average remaining contractual life	9 years 1 month 20 days
Weighted average exercise price	$ 18.64
Number exercisable \| shares	7,380
Exercisable, Weighted average exercise price	$ 16.68
2020 Non-Employee Stock Option Plan \| Exercise price range
Share based compensation, exercise prices
Exercise price upper limit	22.93
Exercise price lower limit	$ 11.40
Options outstanding (in shares) \| shares	26,900
Weighted average remaining contractual life	9 years 1 month 20 days
Weighted average exercise price	$ 18.64
Number exercisable \| shares	7,380
Exercisable, Weighted average exercise price	$ 16.68

Stock Option - Additional Infor

Stock Option - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
Stock Option - Additional Information (Details) - USD ($)	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021	Jun. 30, 2020	May 31, 2020	Dec. 31, 2018
Stock Option
Stock-based compensation expense, allocated	$ 35,000	$ 84,000	$ 1,379,000	$ 272,000
Stock-based compensation costs, effect on EPS	$ 0	$ 0	$ 0.04	$ 0.01
Proceeds from stock option exercises			$ 155,000
2012 Employee Stock Option Plan
Stock Option
Shares authorized (in shares)	1,900,000		1,900,000
Premium on fair market value (as a percent)			110.00%
Threshold percentage of voting rights			10.00%
Term			10 years
Vesting rights percentage			20.00%
Outstanding (in shares)	523,080	224,080	523,080	224,080	214,080	235,680
Exercisable, end of period	164,776	89,200	164,776	89,200
Available for grant (in shares)	1,138,920		1,138,920
Granted	0	0	338,000	0
Unearned stock based compensation	$ 2,704,000		$ 2,704,000
Exercised	1,000		29,000	3,600
Deferred tax benefit	$ 1,000	$ 3,000	$ 1,000	$ 3,000
Conversion of Stock, Shares Issued	153	1,350
Vested	5,200	5,200	95,600	30,800
Fair Value	$ 36,000	$ 63,000	$ 975,000	$ 168,000
Proceeds from stock option exercises			$ 155,000
2012 Employee Stock Option Plan \| After December 2022
Stock Option
Granted			0
2012 Non-Employee Stock Option Plan
Stock Option
Shares authorized (in shares)	100,000		100,000
Term			10 years
Vesting rights percentage			20.00%
Outstanding (in shares)	21,600	21,600	21,600	21,600	12,000	24,000
Exercisable, end of period	12,480	14,640	12,480	14,640
Available for grant (in shares)	0		0
Granted	0		9,600	0
Unearned stock based compensation	$ 76,000		$ 76,000
Exercised	0	2,400	0	2,400
Deferred tax benefit	$ 0	$ 6,000		$ 6,000
Conversion of Stock, Shares Issued		913		913
Vested	720	720	6,240	5,520
Fair Value	$ 5,000	$ 5,000	$ 39,000	$ 18,000
Proceeds from stock option exercises	$ 0	$ 0	$ 0	$ 0
2012 Non-Employee Stock Option Plan \| After December 2022
Stock Option
Granted			0
2018 Non-Employee Stock Option Plan
Stock Option
Shares authorized (in shares)								100,000
Term			10 years
Vesting rights percentage			20.00%
Outstanding (in shares)	89,000	93,600	89,000	93,600	70,100	96,800
Exercisable, end of period	45,040	40,960	45,040	40,960
Available for grant (in shares)	0		0
Granted	0	0	23,500	0
Unearned stock based compensation	$ 302,000		$ 302,000
Exercised	1,600	3,200	4,600	3,200
Shares converted (in shares)			663
Deferred tax benefit	$ 4,000	$ 6,000	$ 12,000	$ 6,000
Conversion of Stock, Shares Issued		1,217	2,075	1,217
Vested	5,380	6,880	19,680	19,680
Fair Value	$ 35,000	$ 45,000	$ 160,000	$ 133,000
Proceeds from stock option exercises	$ 0	$ 0	$ 0	$ 0
2018 Non-Employee Stock Option Plan \| After December 2028
Stock Option
Granted			0
2020 Non-Employee Stock Option Plan
Stock Option
Shares authorized (in shares)							100,000
Term			10 years
Vesting rights percentage			20.00%
Outstanding (in shares)	26,900	10,000	26,900	10,000	10,000	0
Exercisable, end of period	7,380	2,000	7,380	2,000
Available for grant (in shares)	73,100		73,100
Granted	0	0	16,900	10,000
Unearned stock based compensation	$ 147,000		$ 147,000
Exercised	0	0	0	0
Deferred tax benefit			$ 0	$ 0
Vested	0	0	5,380	2,000
Fair Value	$ 0	$ 0	$ 55,000	$ 12,000
Proceeds from stock option exercises	$ 0	$ 0	$ 0	$ 0

Stockholders' Equity Transact_2

Stockholders' Equity Transactions (Details) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended
Stockholders' Equity Transactions (Details) - USD ($)	Dec. 31, 2021	Mar. 31, 2022	Mar. 31, 2022	Jun. 30, 2021	Dec. 06, 2021	Sep. 16, 2014
Equity
Authorized to be repurchased (in shares)					100,000,000	2,000,000
Common Stock Shares Outstanding	36,731,756	36,733,540	36,733,540	36,702,168		38,800,000
Stock repurchased (in shares)		0	0	0
Par value per share		$ 0.01	$ 0.01	$ 0.01	$ 0.01
Cash received from stock option exercised			$ 155,000
Percentage of stock dividend	100.00%
Stock split	2
Certain employees and directors
Equity
Stock repurchased (in shares)			28,000
Exercised		2,600	33,600
Cash received from stock option exercised			$ 155,000
Exercised, cashless			5,600	14,200
Surrendered (in shares)		816	2,228	6,734

Related Party Transaction (Deta

Related Party Transaction (Details) - USD ($)	Dec. 21, 2020	Dec. 21, 2020	Dec. 15, 2020
Related party transactions
Shares of common stock issued			4,666,142
Proceeds from the offering		$ 0
Offering expenses		$ 289,000
Over allotment
Related party transactions
Shares of common stock issued	669,922
Offering price	$ 13	$ 13

401(k) Plan (Details)

401(k) Plan (Details) - USD ($)	3 Months Ended		9 Months Ended
401(k) Plan (Details) - USD ($)	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
401(k) Plan
Employer contribution	$ 59,000	$ 32,000	$ 132,000	$ 100,000

Commitments and Contingencies -

Commitments and Contingencies - Weighted - average lease term (Details)	Mar. 31, 2022
Commitments and Contingencies
Weighted-average remaining lease term	70 years
Weighted-average discount rate	3.55%

Commitments and Contingencies_2

Commitments and Contingencies - Lease liabilities (Details) $ in Thousands	Mar. 31, 2022USD ($)
Schedule, by years, of maturities of lease liabilities
2022	$ 72
2023	280
2024	270
2025	261
2026	251
Thereafter	6,222
Total	$ 7,356

Commitments and Contingencies_3

Commitments and Contingencies - Additional Information (Details)	3 Months Ended		9 Months Ended
	Mar. 31, 2022USD ($)aagreement	Mar. 31, 2021USD ($)	Mar. 31, 2022USD ($)aagreement	Mar. 31, 2021USD ($)
Lessee, Lease, Description [Line Items]
Operating lease term	99 years		99 years
Annual minimum rent			$ 288,000
Operating Lease Payments	$ 72,000	$ 216,000	72,000	$ 216,000
Operating lease expense	$ 80,000	$ 78,000	$ 239,000	$ 236,000
Number of employment agreement \| agreement	3		3
Number of severance agreement \| agreement	1		1
Dominican Republic [Member]
Lessee, Lease, Description [Line Items]
Area of Land \| a	4		4
Employment Contracts [Member] \| Chief executive officer [Member]
Lessee, Lease, Description [Line Items]
Annual salary commitment			$ 872,000
Termination pay commitment rate applied to the average of the prior five calendar years compensation			299.00%
Employment Contracts [Member] \| SVP of Engineering
Lessee, Lease, Description [Line Items]
Annual salary commitment			$ 361,000

Geographical Data (Details)

Geographical Data (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Geographical Data (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Jun. 30, 2021
Domestic and Foreign Operations
Net Sales	$ 35,905	$ 28,228	$ 100,364
Identifiable assets	137,106		137,106	$ 122,551
United States [Member]
Domestic and Foreign Operations
Net Sales	35,522	27,877	99,327
Identifiable assets	94,446		94,446	90,941
Foreign
Domestic and Foreign Operations
Net Sales	383	$ 351	1,037
Dominican Republic [Member]
Domestic and Foreign Operations
Identifiable assets	$ 42,660		$ 42,660	$ 31,610

Geographical Data - Additional

Geographical Data - Additional information (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Jun. 30, 2021	Jul. 01, 2019
Domestic and Foreign Operations
Inventories, net	$ 35,101	$ 24,933
Operating lease asset	7,356	7,373	$ 7,700
Fixed assets	7,997	7,836
Dominican Republic [Member]
Domestic and Foreign Operations
Inventories, net	31,847	20,712
Operating lease asset	7,356	7,373
Fixed assets	$ 3,297	$ 3,208