LSI Industries (LYTS) 10-Q 7 Nov 19 2020 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Sep. 30, 2019	Oct. 25, 2019
Document Information [Line Items]
Entity Registrant Name	LSI INDUSTRIES INC
Entity Central Index Key	0000763532
Trading Symbol	lyts
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		26,105,943
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Title of 12(b) Security	Common Stock, no par value

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Sep. 30, 2019	Sep. 30, 2018
Net sales		$ 88,701	$ 84,957
Cost of products and services sold		66,588	63,541
Restructuring costs		258	155
Gross profit		21,855	21,261
Selling and administrative expenses		19,862	18,327
Restructuring (gain)		(4,846)
Operating income		6,839	2,934
Interest (income)		(1)	(14)
Interest expense		432	532
Other expense		82
Income before income taxes		6,326	2,416
Income tax expense		1,851	667
Net income		$ 4,475	$ 1,749
Earnings per common share (see Note 4)
Basic earnings per share (in dollars per share)		$ 0.17	$ 0.07
Diluted earnings per share (in dollars per share)		$ 0.17	$ 0.07
Weighted average common shares outstanding
Basic (in shares)		26,236	26,032
Diluted (in shares)	[1]	26,293	26,365
[1]	Options to purchase 2,861,423 common shares and 3,146,466 common shares at September 30, 2019 and 2018, respectively, were not included in the computation of the three month period for diluted earnings per share, respectively, because the exercise price was greater than the average fair market value of the common shares.

Condensed Consolidated Statem_2

Condensed Consolidated Statemens of Net Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Net income	$ 4,475	$ 1,749
Foreign currency translation adjustment	23
Comprehensive Income	$ 4,498	$ 1,749

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Current Assets
Cash and cash equivalents	$ 1,579	$ 966
Accounts receivable, less allowance for doubtful accounts of $993 and $879, respectively	58,442	54,728
Inventories	43,078	43,512
Refundable income taxes	885	882
Asset held for sale		7,512
Other current assets	3,554	3,380
Total current assets	107,538	110,980
Property, Plant and Equipment, at cost
Land	4,576	4,576
Buildings	27,083	27,015
Machinery and equipment	70,296	73,185
Construction in progress	683	455
	102,638	105,231
Less accumulated depreciation	(72,127)	(73,255)
Net property, plant and equipment	30,511	31,976
Goodwill	10,373	10,373
Other Intangible Assets, net	31,972	32,647
Other Long-Term Assets, net	23,127	15,124
Total assets	203,521	201,100
LIABILITIES & SHAREHOLDERS’ EQUITY
Accounts payable	23,301	18,664
Accrued expenses	21,871	21,211
Total current liabilities	45,172	39,875
Long-Term Debt	23,181	39,541
Other Long-Term Liabilities	12,010	1,747
Commitments and Contingencies (Note 12)
Shareholders’ Equity
Preferred shares, without par value; Authorized 1,000,000 shares, none issued
Common shares, without par value; Authorized 40,000,000 shares; Outstanding 26,049,515 and 25,967,275 shares, respectively	126,235	125,729
Treasury shares, without par value;	(1,108)	(1,468)
Deferred compensation plan	1,118	1,468
Retained (loss)	(3,080)	(5,808)
Accumulated other comprehensive income	(7)	16
Total shareholders’ equity	123,158	119,937
Total liabilities & shareholders’ equity	$ 203,521	$ 201,100

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Allowance for doubtful accounts	$ 993	$ 879
Preferred shares, par value (in dollars per share)	$ 0	$ 0
Preferred shares, authorized shares (in shares)	1,000,000	1,000,000
Preferred shares, issued (in shares)	0	0
Common shares, par value (in dollars per share)	$ 0	$ 0
Common shares, authorized shares (in shares)	40,000,000	40,000,000
Common shares, outstanding (in shares)	26,049,515	25,967,275

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Restricted Stock Units (RSUs) [Member]Common Stock Including Additional Paid in Capital [Member]	Restricted Stock Units (RSUs) [Member]Treasury Stock [Member]	Restricted Stock Units (RSUs) [Member]Key Executive Deferred Compensation [Member]	Restricted Stock Units (RSUs) [Member]AOCI Attributable to Parent [Member]	Restricted Stock Units (RSUs) [Member]Retained Earnings [Member]	Restricted Stock Units (RSUs) [Member]	Common Stock Including Additional Paid in Capital [Member]	Treasury Stock [Member]	Key Executive Deferred Compensation [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Jun. 30, 2018							25,884	(242)
Balance at Jun. 30, 2018							$ 124,104	$ (2,110)	$ 2,133		$ 15,124	$ 139,251
Net income											1,749	1,749
Other comprehensive income
Stock compensation awards (in shares)	97						17
Stock compensation awards							$ 90					90
Shares issued for deferred compensation (in shares)							27
Shares issued for deferred compensation							$ 126					126
Activity of treasury shares, net (in shares)								16
Activity of treasury shares, net								$ 265				265
Deferred stock compensation									(264)			(264)
Stock-based compensation expense							551					551
Dividends — $0.20 per share											(1,296)	(1,296)
Cumulative effect of adoption of accounting guidance											591	591
Balance (in shares) at Sep. 30, 2018							26,025	(226)
Balance at Sep. 30, 2018							$ 124,871	$ (1,845)	1,869		16,168	141,063
Balance (in shares) at Jun. 30, 2019							26,176	(209)
Balance at Jun. 30, 2019							$ 125,729	$ (1,468)	1,468	16	(5,808)	119,937
Net income											4,475	4,475
Other comprehensive income										(23)		(23)
Stock compensation awards (in shares)	18						21
Stock compensation awards							$ 75					75
Shares issued for deferred compensation (in shares)							7
Shares issued for deferred compensation							$ 33					33
Activity of treasury shares, net (in shares)								36
Activity of treasury shares, net								$ 360				360
Deferred stock compensation									(350)			(350)
Stock-based compensation expense							398					398
Dividends — $0.20 per share											(1,319)	(1,319)
Cumulative effect of adoption of accounting guidance											(428)	(428)
Stock optons exercised, net
Balance (in shares) at Sep. 30, 2019							26,222	(173)
Balance at Sep. 30, 2019							$ 126,235	$ (1,108)	$ 1,118	$ (7)	$ (3,080)	$ 123,158

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Dividend per share (in dollars per share)	$ 0.20	$ 0.20

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash Flows from Operating Activities
Net income	$ 4,475	$ 1,749
Non-cash items included in net income:
Depreciation and amortization	2,399	2,643
Deferred income taxes	1,823	85
Deferred compensation plan	43	127
Stock compensation expense	398	551
Issuance of common shares as compensation	75	90
Loss on disposition of fixed assets	69
(Gain) on disposition of facility	(4,821)
Allowance for doubtful accounts	140	(19)
Inventory obsolescence reserve	298	766
Changes in certain assets and liabilities
Accounts receivable	(3,854)	(4,218)
Inventories	136	(3,519)
Refundable income taxes	(3)	587
Accounts payable	4,611	5,723
Accrued expenses and other	440	(3,172)
Customer prepayments	130	795
Net cash flows provided by operating activities	6,359	2,188
Cash Flows from Investing Activities
Proceeds from the sale of assets	12,338
Purchases of property, plant and equipment	(355)	(648)
Net cash flows (used in) provided by investing activities	11,983	(648)
Cash Flows from Financing Activities
Payments of long-term debt	(51,612)	(23,039)
Borrowings of long-term debt	35,252	23,831
Cash dividends paid	(1,319)	(1,296)
Shares withheld for employees’ taxes	(50)	(52)
Net cash flows (used in) financing activities	(17,729)	(556)
Increase in cash and cash equivalents	613	984
Cash and cash equivalents at beginning of period	966	3,178
Cash and cash equivalents at end of period	$ 1,579	$ 4,162

Note 1 - Interim Condensed Cons

Note 1 - Interim Condensed Consolidated Financial Statements	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Condensed Financial Statements [Text Block]	NOTE 1 - INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The interim condensed consolidated financial statements are unaudited and are prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information, and rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the interim financial statements include all normal adjustments and disclosures necessary to present fairly the Company’s financial position as of September 30, 2019, three September 30, 2019 2018, three September 30, 2019 2018. 2018 10 June 30, 2019

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A summary of the Company’s significant accounting policies is included in Note 1 2019 10 2014 09 606 first 2019 2016 02, first 2019, Revenue Recognition: The Company recognizes revenue when it satisfies the performance obligations in its customer contracts or purchase orders. Most of the Company’s products have a single performance obligation which is satisfied at a point in time when control is transferred to the customer. Control is generally transferred at time of shipment when title and risk of ownership passes to the customer. For customer contracts with multiple performance obligations, the Company allocates the transaction price and any discounts to each performance obligation based on relative standalone selling prices. Payment terms are typically within 30 90 not Installation is a separate performance obligation, except for our digital signage products. For digital signage products, installation is not not no A number of the Company's products are highly customized. As a result, these customized products do not not no ● Customer specific branded print graphics ● Electrical components based on customer specifications ● Digital signage and related media content The Company also offers installation services. Installation revenue is recognized over time as our customer simultaneously receives and consumes the benefits provided through the installation process. For these customized products and installation services, revenue is recognized using a cost-based input method: recognizing revenue and gross profit as work is performed based on the relationship between the actual cost incurred and the total estimated cost for the contract. Disaggregation of Revenue The Company disaggregates the revenue from contracts with customers by the timing of revenue recognition because the Company believes it best depicts the nature, amount, and timing of our revenue and cash flows. The table presents a reconciliation of the disaggregation by reportable segments. Three Months Ended September 30 Lighting Segment Graphics Segment Timing of revenue recognition Products and services transferred at a point in time $ 56,525 $ 17,725 Products and services transferred over time 6,666 7,785 $ 63,191 $ 25,510 Three Months Ended September 30 Lighting Segment Graphics Segment Type of Product and Services LED lighting, digital signage, electronic circuit boards $ 54,483 $ 3,874 Legacy Products 8,038 16,700 Turnkey Services and Other 670 4,936 $ 63,191 $ 25,510 Legacy products include lighting fixtures utilizing light sources other than LED technology and printed two three Practical Expedients and Exemptions ● The Company’s contracts with customers have an expected duration of one ● Shipping costs that are not ● The Company’s accounts receivable balance represents the Company’s unconditional right to receive payment from its customers with contracts. Payments are generally due within 30 90 not ● The Company collects sales tax and other taxes concurrent with revenue-producing activities which are excluded from revenue. Shipping and handling costs are treated as fulfillment activities and included in cost of products and services sold on the Consolidated Statements of Operations. New Accounting Pronouncements: On July 1, 2018, 2014 09. 606 not June 30, 2018. July 1, 2018 606, not $591,000 July 1, 2018 606, ( In thousands) Balance as of June 30, 2018 Adjustments Opening Balance as of July 1, 2018 Assets: Accounts receivable, net $ 50,609 $ 4,935 $ 55,544 Inventories, net $ 50,994 $ (4,167 ) $ 46,827 Other long-term assets, net $ 9,786 $ (177 ) $ 9,609 Shareholders’ Equity: Retained earnings $ 15,124 $ 591 $ 15,715 In February 2016, 2016 02, December 15, 2018, 2020, July 1, 2019 not not not not twelve The Company’s most significant leases are those relating to its two three $10.4 10.8 July 1, 2019 no 15 Subsequent Events: The Company has evaluated subsequent events for potential recognition and disclosure through the date the consolidated financial statements were filed. No

Note 3 - Segment Reporting Info

Note 3 - Segment Reporting Information	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	N OTE 3 SEGMENT REPORTING INFORMATION The accounting guidance on Segment Reporting establishes standards for reporting information regarding operating segments in annual financial statements and requires selected information of those segments to be presented in financial statements. Operating segments are identified as components of an enterprise for which separate discrete financial information is available for evaluation by the chief operating decision maker (the Company’s Chief Executive Officer or “CODM”) in making decisions on how to allocate resources and assess performance. The Company’s two one The Lighting Segment includes outdoor and indoor lighting utilizing both traditional and LED light sources that have been fabricated and assembled for the Company’s markets, primarily petroleum / convenience stores, automotive dealerships, quick-service restaurants, grocery and pharmacy stores, and retail/national accounts. The Company also services lighting product customers through the commercial industrial, stock and flow, and renovation channels. The Lighting Segment also includes the design, engineering, and manufacturing of electronic circuit boards, assemblies and sub-assemblies used to manufacture certain LED light fixtures and sold directly to customers. The Graphics Segment designs, manufactures and installs exterior and interior visual image elements such as traditional graphics, interior branding, electrical and architectural signage, active digital signage along with the management of media content related to digital signage, LED video screens, and menu board systems that are either digital or traditional by design. These products are used in visual image programs in several markets including, but not The Company’s corporate administration activities are reported in the Corporate and Eliminations line item. These activities primarily include intercompany profit in inventory eliminations, expense related to certain corporate officers and support staff, the Company’s internal audit staff, expense related to the Company’s Board of Directors, equity compensation expense for various equity awards granted to corporate administration employees, certain consulting expenses, investor relations activities, and a portion of the Company’s legal, auditing and professional fee expenses. Corporate identifiable assets primarily consist of cash, invested cash (if any), refundable income taxes (if any), and deferred income taxes. There was no three September 30, 2019 2018. no September 30, 2018 June 30, 2019. Summarized financial information for the Company’s operating segments is provided for the indicated periods and as of September 30, 2019 September 30, 2018: Three Months Ended ( In thousands) September 30 2019 2018 Net Sales: Lighting Segment $ 63,191 $ 61,432 Graphics Segment 25,510 23,525 $ 88,701 $ 84,957 Operating Income (Loss): Lighting Segment $ 9,159 $ 3,850 Graphics Segment 1,017 2,387 Corporate and Eliminations (3,337 ) (3,303 ) $ 6,839 $ 2,934 Capital Expenditures: Lighting Segment $ 330 $ 276 Graphics Segment -- 266 Corporate and Eliminations 25 106 $ 355 $ 648 Depreciation and Amortization: Lighting Segment $ 1,778 $ 1,990 Graphics Segment 386 395 Corporate and Eliminations 235 258 $ 2,399 $ 2,643 September 30, 2019 June 30, 2019 Identifiable Assets: Lighting Segment $ 141,647 $ 142,105 Graphics Segment 44,467 40,914 Corporate and Eliminations 17,407 18,081 $ 203,521 $ 201,100 The segment net sales reported above represent sales to external customers. Segment operating income, which is used in management’s evaluation of segment performance, represents net sales less all operating expenses. Identifiable assets are those assets used by each segment in its operations. The Company records a 10% Three Months Ended September 30 (In thousands) 2019 2018 Lighting Segment inter-segment net sales $ 811 $ 409 Graphics Segment inter-segment net sales $ 24 $ 31 The Company’s operations are located solely within the United States. As a result, the geographic distribution of the Company’s net sales and long-lived assets originate within the United States.

Note 4 - Earnings Per Common Sh

Note 4 - Earnings Per Common Share	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 4 - EARNINGS PER COMMON SHARE The following table presents the amounts used to compute basic and diluted earnings per common share, as well as the effect of dilutive potential common shares on weighted average shares outstanding (in thousands, except per share data): Three Months Ended September 30 2019 2018 BASIC EARNINGS (LOSS) PER SHARE Net income $ 4,475 $ 1,749 Weighted average shares outstanding, net of treasury shares (a) 26,024 25,752 Weighted average vested restricted stock units outstanding 24 53 Weighted average shares outstanding in the Deferred Compensation Plan 188 227 Weighted average shares outstanding 26,236 26,032 Basic earnings per share $ 0.17 $ 0.07 DILUTED EARNINGS (LOSS) PER SHARE Net income (loss) $ 4,475 $ 1,749 Weighted average shares outstanding Basic 26,236 26,032 Effect of dilutive securities (b): Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any 57 333 Weighted average shares outstanding (c) 26,293 26,365 Diluted earnings per share $ 0.17 $ 0.07 (a) Includes shares accounted for like treasury stock. (b) Calculated using the “Treasury Stock” method as if dilutive securities were exercised and the funds were used to purchase common shares at the average market price during the period. (c) Options to purchase 2,861,423 3,146,466 September 30, 2019 2018, not three

Note 5 - Inventories

Note 5 - Inventories	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 5 - INVENTORIES The following information is provided as of the dates indicated: September 30, June 30, (In thousands) 2019 2019 Inventories: Raw materials $ 28,783 $ 27,927 Work-in-process 1,757 2,193 Finished goods 12,538 13,392 Total Inventories $ 43,078 $ 43,512

Note 6 - Accrued Expenses

Note 6 - Accrued Expenses	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	NOTE 6 - ACCRUED EXPENSES The following information is provided as of the dates indicated: September 30, June 30, (In thousands) 2019 2019 Accrued Expenses: Compensation and benefits $ 3,974 $ 5,319 Customer prepayments 1,898 1,768 Accrued sales commissions 2,248 1,301 Accrued warranty 7,666 7,687 Other accrued expenses 6,085 5,136 Total Accrued Expenses $ 21,871 $ 21,211

Note 7 - Goodwill and Other Int

Note 7 - Goodwill and Other Intangible Assets	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	NOTE 7 - GOODWILL AND OTHER INTANGIBLE ASSETS The carrying values of goodwill and other intangible assets with indefinite lives are reviewed at least annually for possible impairment. The Company may first not not no not not first not 3 820 may may The Company identified its reporting units in conjunction with its annual goodwill impairment testing. The Company has a total of two one one not The following table presents information about the Company's goodwill on the dates or for the periods indicated: Goodwill (In thousands) Lighting Graphics Segment Segment Total Balance as of June 30, 2019 Goodwill $ 94,564 28,690 123,254 Accumulated impairment losses (85,356 ) (27,525 ) (112,881 ) Goodwill, net as of June 30, 2019 $ 9,208 1,165 10,373 Balance as of September 30, 2019 Goodwill $ 94,564 28,690 123,254 Accumulated impairment losses (85,356 ) (27,525 ) (112,881 ) Goodwill, net as of September 30, 2019 $ 9,208 1,165 10,373 The gross carrying amount and accumulated amortization by major other intangible asset class is as follows: September 30, 2019 Other Intangible Assets Gross (In thousands) Carrying Accumulated Net Amount Amortization Amount Amortized Intangible Assets Customer relationships $ 35,563 $ 12,585 $ 22,978 Patents 338 254 84 LED technology firmware, software 16,066 12,489 3,577 Trade name 2,658 747 1,911 Total Amortized Intangible Assets 54,625 26,075 28,550 Indefinite-lived Intangible Assets Trademarks and trade names 3,422 -- 3,422 Total Indefinite-lived Intangible Assets 3,422 -- 3,422 Total Other Intangible Assets $ 58,047 $ 26,075 $ 31,972 June 30, 2019 Other Intangible Assets Gross (In thousands) Carrying Accumulated Net Amount Amortization Amount Amortized Intangible Assets Customer relationships $ 35,563 $ 12,070 $ 23,493 Patents 338 247 91 LED technology 16,066 12,364 3,702 firmware, software 2,658 719 1,939 Trade name - Total Amortized Intangible Assets 54,625 25,400 29,225 Indefinite-lived Intangible Assets Trademarks and trade names 3,422 -- 3,422 Total Indefinite-lived Intangible Assets 3,422 -- 3,422 Total Other Intangible Assets $ 58,047 $ 25,400 $ 32,647 (In thousands) Amortization Expense of Other Intangible Assets September 30, 2019 September 30, 2018 Three Months Ended $ 675 $ 691 The Company expects to record annual amortization expense as follows: (In thousands) 2020 $ 2,687 2021 $ 2,682 2022 $ 2,459 2023 $ 2,412 2024 $ 2,412 After 2024 $ 16,573

Note 8 - Revolving Line of Cred

Note 8 - Revolving Line of Credit and Long-term Debt	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 8 - REVOLVING LINE OF CREDIT In February 2019, $75 $100 third 2022. 125 250 200 first 2020. $75 20 September 30, 2019, $23.2 $51.8 The Company is in compliance with all of its loan covenants as of September 30, 2019.

Note 9 - Cash Dividends

Note 9 - Cash Dividends	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 9 - CASH DIVIDENDS The Company paid cash dividends of $1,319,000 $1,296,000 three September 30, 2019 2018, $34,842 $31,553 September 30, 2019 2018, November 2019, $0.05 November 26, 2019 November 18, 2019 $0.20

Note 10 - Equity Compensation

Note 10 - Equity Compensation	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	NOTE 10 - EQUITY COMPENSATION In November 2019, 2019 may 2012 2,650,000 1,147,429 September 30, 2019 3.8 2.5 2019 In the first 2020, 455,429 $3.83 199,310 81,917 $3.83. $398,000 $551,000 first 2019 2018,

Note 11 - Supplemental Cash Flo

Note 11 - Supplemental Cash Flow Information	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	NOTE 1 1 - SUPPLEMENTAL CASH FLOW INFORMATION (In thousands) Three Months Ended September 30 2019 2018 Cash payments: Interest $ 464 $ 518 Income taxes $ -- $ (39 ) Non-cash investing and financing activities: Issuance of common shares as compensation $ 75 $ 90 Issuance of common shares to fund deferred compensation plan $ 33 $ 127

Note 12 - Commitments and Conti

Note 12 - Commitments and Contingencies	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 1 2 - COMMITMENTS AND CONTINGENCIES The Company is party to various negotiations, customer bankruptcies, and legal proceedings arising in the normal course of business. The Company provides reserves for these matters when a loss is probable and reasonably estimable. The Company does not not The Company may third September 30, 2019, no

Note 13 - Severance Costs

Note 13 - Severance Costs	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Compensation and Employee Benefit Plans [Text Block]	NOTE 1 3 – SEVERANCE COSTS The activity in the Company’s Accrued Severance Liability is as follows for the periods indicated: Three Three Fiscal Months Ended Months Ended Year Ended (In thousands) September 30, September 30, June 30, 2019 2018 2019 Balance at beginning of the period $ 1,134 $ 1,772 $ 1,772 Accrual of expense 18 -- 560 Payments (162 ) (197 ) (1,198 ) Adjustments -- -- -- Balance at end of the period $ 990 $ 1,575 $ 1,134 Of the total $990,000 September 30, 2019, $591,000 twelve $399,000

Note 14 - Restructuring Costs

Note 14 - Restructuring Costs	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	NOTE 14 In the first 2020, $12.3 $4.8 $233,000 The following table presents information about restructuring costs for the periods indicated: Three Three Months Ended Months Ended (In thousands) September 30, September 30, 2019 2018 Severance benefits $ -- $ 19 Moving costs -- 53 Impairment of fixed assets and accelerated depreciation 49 43 Facility repairs -- 40 Gain on sale of facility (4,821 ) -- Exit Costs 184 -- Total $ (4,588 ) $ 155 The following table presents a roll forward of the beginning and ending liability balances related to the restructuring costs: (In thousands) Balance as of June 30, 2019 Restructuring Expense Payments Adjustments Balance as of September 30, 2019 Severance and termination benefits $ 236 $ -- $ (131 ) $ -- $ 105 Other restructuring costs -- 184 (184 ) -- -- Total $ 236 $ 184 $ (315 ) $ -- $ 105

Note 15 - Leases

Note 15 - Leases	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	N OTE 15 The Company leases two 1 5 not not The Company has periodically entered into short-term operating leases with an initial term of twelve not three September 30, 2019, The Company has certain leases that contain lease and non-lease components and has elected to utilize the practical expedient to account for these components together as a single lease component. Lease expense is recognized on a straight-line basis over the lease term. The Company used its incremental borrowing rate when determining the present value of lease payments. The adoption of the new lease standard resulted in the recognition of right-of-use assets (ROU assets) of $10.4 10.8 July 1, 2019 no Three Months Ended (in thousands) Operating lease cost 587 Supplemental Cash Flow Information: Three Months Ended (in thousands) Operating cash flows from operating leases Fixed payments 573 Liability reduction 443 At September 30, 2019 Operating Leases: Total operating right-of-use asset (Other long-term assets) 9,953 Accrued Liabiltities (Current liabilities) 324 Long-term operating lease liability (Other long-term liabilties) 10,368 10,692 Weighted Average Remaining Lease Term (in years) 5.3 Weighted Average Discount Rate 4.85 % Maturities of Lease Liability: 2020 1,846 2021 2,303 2022 2,279 2023 2,244 2024 1,918 therefter 1,680 Total lease payments 12,270 Less: Interest (1,578 ) Present Value of Lease Liabilities 10,692

Note 16 - Income Taxes

Note 16 - Income Taxes	3 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	N OTE 1 6 – INCOME TAXES The Company's effective income tax rate is based on expected income, statutory rates and tax planning opportunities available in the various jurisdictions in which it operates. For interim financial reporting, the Company estimates the annual income tax rate based on projected taxable income for the full year and records a quarterly income tax provision or benefit in accordance with the anticipated annual rate. The Company refines the estimates of the year's taxable income as new information becomes available, including actual year-to-date financial results. This continual estimation process often results in a change to the expected effective income tax rate for the year. When this occurs, the Company adjusts the income tax provision during the quarter in which the change in estimate occurs so that the year-to-date provision reflects the expected income tax rate. Significant judgment is required in determining the effective tax rate and in evaluating tax positions. In the first 2020, $4.8 $864,000 Three Months Ended September 30 2019 2018 Reconciliation to effective tax rate: Provision for income taxes at the anticipated annual tax rate 24.1 % 23.0 % Uncertain tax positions 0.5 1.3 Shared based compensation 4.3 3.3 Other 0.4 -- Effective tax rate 29.3 % 27.6 %

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition: The Company recognizes revenue when it satisfies the performance obligations in its customer contracts or purchase orders. Most of the Company’s products have a single performance obligation which is satisfied at a point in time when control is transferred to the customer. Control is generally transferred at time of shipment when title and risk of ownership passes to the customer. For customer contracts with multiple performance obligations, the Company allocates the transaction price and any discounts to each performance obligation based on relative standalone selling prices. Payment terms are typically within 30 90 not Installation is a separate performance obligation, except for our digital signage products. For digital signage products, installation is not not no A number of the Company's products are highly customized. As a result, these customized products do not not no ● Customer specific branded print graphics ● Electrical components based on customer specifications ● Digital signage and related media content The Company also offers installation services. Installation revenue is recognized over time as our customer simultaneously receives and consumes the benefits provided through the installation process. For these customized products and installation services, revenue is recognized using a cost-based input method: recognizing revenue and gross profit as work is performed based on the relationship between the actual cost incurred and the total estimated cost for the contract. Disaggregation of Revenue The Company disaggregates the revenue from contracts with customers by the timing of revenue recognition because the Company believes it best depicts the nature, amount, and timing of our revenue and cash flows. The table presents a reconciliation of the disaggregation by reportable segments. Three Months Ended September 30 Lighting Segment Graphics Segment Timing of revenue recognition Products and services transferred at a point in time $ 56,525 $ 17,725 Products and services transferred over time 6,666 7,785 $ 63,191 $ 25,510 Three Months Ended September 30 Lighting Segment Graphics Segment Type of Product and Services LED lighting, digital signage, electronic circuit boards $ 54,483 $ 3,874 Legacy Products 8,038 16,700 Turnkey Services and Other 670 4,936 $ 63,191 $ 25,510 Legacy products include lighting fixtures utilizing light sources other than LED technology and printed two three Practical Expedients and Exemptions ● The Company’s contracts with customers have an expected duration of one ● Shipping costs that are not ● The Company’s accounts receivable balance represents the Company’s unconditional right to receive payment from its customers with contracts. Payments are generally due within 30 90 not ● The Company collects sales tax and other taxes concurrent with revenue-producing activities which are excluded from revenue. Shipping and handling costs are treated as fulfillment activities and included in cost of products and services sold on the Consolidated Statements of Operations.
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements: On July 1, 2018, 2014 09. 606 not June 30, 2018. July 1, 2018 606, not $591,000 July 1, 2018 606, ( In thousands) Balance as of June 30, 2018 Adjustments Opening Balance as of July 1, 2018 Assets: Accounts receivable, net $ 50,609 $ 4,935 $ 55,544 Inventories, net $ 50,994 $ (4,167 ) $ 46,827 Other long-term assets, net $ 9,786 $ (177 ) $ 9,609 Shareholders’ Equity: Retained earnings $ 15,124 $ 591 $ 15,715 In February 2016, 2016 02, December 15, 2018, 2020, July 1, 2019 not not not not twelve The Company’s most significant leases are those relating to its two three $10.4 10.8 July 1, 2019 no 15
Subsequent Events, Policy [Policy Text Block]	Subsequent Events: The Company has evaluated subsequent events for potential recognition and disclosure through the date the consolidated financial statements were filed. No

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Sep. 30, 2019
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended September 30 Lighting Segment Graphics Segment Timing of revenue recognition Products and services transferred at a point in time $ 56,525 $ 17,725 Products and services transferred over time 6,666 7,785 $ 63,191 $ 25,510 Three Months Ended September 30 Lighting Segment Graphics Segment Type of Product and Services LED lighting, digital signage, electronic circuit boards $ 54,483 $ 3,874 Legacy Products 8,038 16,700 Turnkey Services and Other 670 4,936 $ 63,191 $ 25,510
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	( In thousands) Balance as of June 30, 2018 Adjustments Opening Balance as of July 1, 2018 Assets: Accounts receivable, net $ 50,609 $ 4,935 $ 55,544 Inventories, net $ 50,994 $ (4,167 ) $ 46,827 Other long-term assets, net $ 9,786 $ (177 ) $ 9,609 Shareholders’ Equity: Retained earnings $ 15,124 $ 591 $ 15,715

Note 3 - Segment Reporting In_2

Note 3 - Segment Reporting Information (Tables)	3 Months Ended
	Sep. 30, 2019
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended ( In thousands) September 30 2019 2018 Net Sales: Lighting Segment $ 63,191 $ 61,432 Graphics Segment 25,510 23,525 $ 88,701 $ 84,957 Operating Income (Loss): Lighting Segment $ 9,159 $ 3,850 Graphics Segment 1,017 2,387 Corporate and Eliminations (3,337 ) (3,303 ) $ 6,839 $ 2,934 Capital Expenditures: Lighting Segment $ 330 $ 276 Graphics Segment -- 266 Corporate and Eliminations 25 106 $ 355 $ 648 Depreciation and Amortization: Lighting Segment $ 1,778 $ 1,990 Graphics Segment 386 395 Corporate and Eliminations 235 258 $ 2,399 $ 2,643
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	September 30, 2019 June 30, 2019 Identifiable Assets: Lighting Segment $ 141,647 $ 142,105 Graphics Segment 44,467 40,914 Corporate and Eliminations 17,407 18,081 $ 203,521 $ 201,100
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Three Months Ended September 30 (In thousands) 2019 2018 Lighting Segment inter-segment net sales $ 811 $ 409 Graphics Segment inter-segment net sales $ 24 $ 31

Note 4 - Earnings Per Common _2

Note 4 - Earnings Per Common Share (Tables)	3 Months Ended
	Sep. 30, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30 2019 2018 BASIC EARNINGS (LOSS) PER SHARE Net income $ 4,475 $ 1,749 Weighted average shares outstanding, net of treasury shares (a) 26,024 25,752 Weighted average vested restricted stock units outstanding 24 53 Weighted average shares outstanding in the Deferred Compensation Plan 188 227 Weighted average shares outstanding 26,236 26,032 Basic earnings per share $ 0.17 $ 0.07 DILUTED EARNINGS (LOSS) PER SHARE Net income (loss) $ 4,475 $ 1,749 Weighted average shares outstanding Basic 26,236 26,032 Effect of dilutive securities (b): Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any 57 333 Weighted average shares outstanding (c) 26,293 26,365 Diluted earnings per share $ 0.17 $ 0.07

Note 5 - Inventories (Tables)

Note 5 - Inventories (Tables)	3 Months Ended
	Sep. 30, 2019
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, June 30, (In thousands) 2019 2019 Inventories: Raw materials $ 28,783 $ 27,927 Work-in-process 1,757 2,193 Finished goods 12,538 13,392 Total Inventories $ 43,078 $ 43,512

Note 6 - Accrued Expenses (Tabl

Note 6 - Accrued Expenses (Tables)	3 Months Ended
	Sep. 30, 2019
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	September 30, June 30, (In thousands) 2019 2019 Accrued Expenses: Compensation and benefits $ 3,974 $ 5,319 Customer prepayments 1,898 1,768 Accrued sales commissions 2,248 1,301 Accrued warranty 7,666 7,687 Other accrued expenses 6,085 5,136 Total Accrued Expenses $ 21,871 $ 21,211

Note 7 - Goodwill and Other I_2

Note 7 - Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Sep. 30, 2019
Notes Tables
Schedule of Goodwill [Table Text Block]	Goodwill (In thousands) Lighting Graphics Segment Segment Total Balance as of June 30, 2019 Goodwill $ 94,564 28,690 123,254 Accumulated impairment losses (85,356 ) (27,525 ) (112,881 ) Goodwill, net as of June 30, 2019 $ 9,208 1,165 10,373 Balance as of September 30, 2019 Goodwill $ 94,564 28,690 123,254 Accumulated impairment losses (85,356 ) (27,525 ) (112,881 ) Goodwill, net as of September 30, 2019 $ 9,208 1,165 10,373
Schedule of Intangible Assets and Goodwill [Table Text Block]	September 30, 2019 Other Intangible Assets Gross (In thousands) Carrying Accumulated Net Amount Amortization Amount Amortized Intangible Assets Customer relationships $ 35,563 $ 12,585 $ 22,978 Patents 338 254 84 LED technology firmware, software 16,066 12,489 3,577 Trade name 2,658 747 1,911 Total Amortized Intangible Assets 54,625 26,075 28,550 Indefinite-lived Intangible Assets Trademarks and trade names 3,422 -- 3,422 Total Indefinite-lived Intangible Assets 3,422 -- 3,422 Total Other Intangible Assets $ 58,047 $ 26,075 $ 31,972 June 30, 2019 Other Intangible Assets Gross (In thousands) Carrying Accumulated Net Amount Amortization Amount Amortized Intangible Assets Customer relationships $ 35,563 $ 12,070 $ 23,493 Patents 338 247 91 LED technology 16,066 12,364 3,702 firmware, software 2,658 719 1,939 Trade name - Total Amortized Intangible Assets 54,625 25,400 29,225 Indefinite-lived Intangible Assets Trademarks and trade names 3,422 -- 3,422 Total Indefinite-lived Intangible Assets 3,422 -- 3,422 Total Other Intangible Assets $ 58,047 $ 25,400 $ 32,647
Finite-lived Intangible Assets Amortization Expense [Table Text Block]	(In thousands) Amortization Expense of Other Intangible Assets September 30, 2019 September 30, 2018 Three Months Ended $ 675 $ 691
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	(In thousands) 2020 $ 2,687 2021 $ 2,682 2022 $ 2,459 2023 $ 2,412 2024 $ 2,412 After 2024 $ 16,573

Note 11 - Supplemental Cash F_2

Note 11 - Supplemental Cash Flow Information (Tables)	3 Months Ended
	Sep. 30, 2019
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	(In thousands) Three Months Ended September 30 2019 2018 Cash payments: Interest $ 464 $ 518 Income taxes $ -- $ (39 ) Non-cash investing and financing activities: Issuance of common shares as compensation $ 75 $ 90 Issuance of common shares to fund deferred compensation plan $ 33 $ 127

Note 13 - Severance Costs (Tabl

Note 13 - Severance Costs (Tables)	3 Months Ended
	Sep. 30, 2019
Employee Severance [Member]
Notes Tables
Schedule of Accrued Severance Liability [Table Text Block]	Three Three Fiscal Months Ended Months Ended Year Ended (In thousands) September 30, September 30, June 30, 2019 2018 2019 Balance at beginning of the period $ 1,134 $ 1,772 $ 1,772 Accrual of expense 18 -- 560 Payments (162 ) (197 ) (1,198 ) Adjustments -- -- -- Balance at end of the period $ 990 $ 1,575 $ 1,134

Note 14 - Restructuring Costs (

Note 14 - Restructuring Costs (Tables)	3 Months Ended
	Sep. 30, 2019
Notes Tables
Restructuring and Related Costs [Table Text Block]	Three Three Months Ended Months Ended (In thousands) September 30, September 30, 2019 2018 Severance benefits $ -- $ 19 Moving costs -- 53 Impairment of fixed assets and accelerated depreciation 49 43 Facility repairs -- 40 Gain on sale of facility (4,821 ) -- Exit Costs 184 -- Total $ (4,588 ) $ 155
Schedule of Liability Balances Related to Restructuring Costs [Table Text Block]	(In thousands) Balance as of June 30, 2019 Restructuring Expense Payments Adjustments Balance as of September 30, 2019 Severance and termination benefits $ 236 $ -- $ (131 ) $ -- $ 105 Other restructuring costs -- 184 (184 ) -- -- Total $ 236 $ 184 $ (315 ) $ -- $ 105

Note 15 - Leases (Tables)

Note 15 - Leases (Tables)	3 Months Ended
	Sep. 30, 2019
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended (in thousands) Operating lease cost 587 Supplemental Cash Flow Information: Three Months Ended (in thousands) Operating cash flows from operating leases Fixed payments 573 Liability reduction 443 At September 30, 2019 Operating Leases: Total operating right-of-use asset (Other long-term assets) 9,953 Accrued Liabiltities (Current liabilities) 324 Long-term operating lease liability (Other long-term liabilties) 10,368 10,692 Weighted Average Remaining Lease Term (in years) 5.3 Weighted Average Discount Rate 4.85 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Maturities of Lease Liability: 2020 1,846 2021 2,303 2022 2,279 2023 2,244 2024 1,918 therefter 1,680 Total lease payments 12,270 Less: Interest (1,578 ) Present Value of Lease Liabilities 10,692

Note 16 - Income Taxes (Tables)

Note 16 - Income Taxes (Tables)	3 Months Ended
	Sep. 30, 2019
Notes Tables
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Three Months Ended September 30 2019 2018 Reconciliation to effective tax rate: Provision for income taxes at the anticipated annual tax rate 24.1 % 23.0 % Uncertain tax positions 0.5 1.3 Shared based compensation 4.3 3.3 Other 0.4 -- Effective tax rate 29.3 % 27.6 %

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	Jul. 01, 2018	Sep. 30, 2019	Jul. 01, 2019
Operating Lease, Right-of-Use Asset		$ 9,953,000
Operating Lease, Liability, Total		$ 10,692,000
Accounting Standards Update 2014-09 [Member]
Cumulative Effect on Retained Earnings, Net of Tax, Total	$ 591,000
Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset			$ 10,400,000
Operating Lease, Liability, Total			$ 10,800,000

Note 2 - Summary of Significa_4

Note 2 - Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Revenue	$ 88,701	$ 84,957
Lighting Segment [Member]
Revenue	63,191	61,432
Lighting Segment [Member] | LED Lighting, Digital Signage, Electronic Circuit Boards [Member]
Revenue	54,483
Lighting Segment [Member] | Legacy Products [Member]
Revenue	8,038
Lighting Segment [Member] | Turnkey Services and Other [Member]
Revenue	670
Graphics Segment [Member]
Revenue	25,510	$ 23,525
Graphics Segment [Member] | LED Lighting, Digital Signage, Electronic Circuit Boards [Member]
Revenue	3,874
Graphics Segment [Member] | Legacy Products [Member]
Revenue	16,700
Graphics Segment [Member] | Turnkey Services and Other [Member]
Revenue	4,936
Transferred at Point in Time [Member] | Lighting Segment [Member]
Revenue	56,525
Transferred at Point in Time [Member] | Graphics Segment [Member]
Revenue	17,725
Transferred over Time [Member] | Lighting Segment [Member]
Revenue	6,666
Transferred over Time [Member] | Graphics Segment [Member]
Revenue	$ 7,785

Note 2 - Summary of Significa_5

Note 2 - Summary of Significant Accounting Policies - New Accounting Pronouncements (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019	Jul. 01, 2018	Jun. 30, 2018
Accounts receivable, net	$ 58,442	$ 54,728	$ 55,544	$ 50,609
Inventories, net	43,078	43,512	46,827	50,994
Other long-term assets, net	23,127	15,124	9,609	9,786
Retained earnings	$ (3,080)	$ (5,808)	15,715	$ 15,124
Restatement Adjustment [Member]
Accounts receivable, net			4,935
Inventories, net			(4,167)
Other long-term assets, net			(177)
Retained earnings			$ 591

Note 3 - Segment Reporting In_3

Note 3 - Segment Reporting Information (Details Textual)	3 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2019
Number of Operating Segments	2
Intersegment Revenue Markup Percentage	10.00%
Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Concentration Risk, Percentage	0.00%	0.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member]
Concentration Risk, Percentage		0.00%	0.00%

Note 3 - Segment Reporting In_4

Note 3 - Segment Reporting Information - Summarized Financial Information by Reportable Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Net sales	$ 88,701	$ 84,957
Operating income (loss)	6,839	2,934
Capital expenditures	355	648
Depreciation and Amortization:
Depreciation and amortization	2,399	2,643
Corporate and Eliminations [Member]
Operating income (loss)	(3,337)	(3,303)
Capital expenditures	25	106
Depreciation and Amortization:
Depreciation and amortization	235	258
Lighting Segment [Member]
Net sales	63,191	61,432
Lighting Segment [Member] | Operating Segments [Member]
Operating income (loss)	9,159	3,850
Capital expenditures	330	276
Depreciation and Amortization:
Depreciation and amortization	1,778	1,990
Graphics Segment [Member]
Net sales	25,510	23,525
Graphics Segment [Member] | Operating Segments [Member]
Operating income (loss)	1,017	2,387
Capital expenditures		266
Depreciation and Amortization:
Depreciation and amortization	$ 386	$ 395

Note 3 - Segment Reporting In_5

Note 3 - Segment Reporting Information - Identifiable Assets by Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Identifiable assets	$ 203,521	$ 201,100
Corporate and Eliminations [Member]
Identifiable assets	17,407	18,081
Lighting Segment [Member] | Operating Segments [Member]
Identifiable assets	141,647	142,105
Graphics Segment [Member] | Operating Segments [Member]
Identifiable assets	$ 44,467	$ 40,914

Note 3 - Segment Reporting In_6

Note 3 - Segment Reporting Information - Intersegment Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Inter-segment Revenues	$ 88,701	$ 84,957
Lighting Segment [Member]
Inter-segment Revenues	63,191	61,432
Graphics Segment [Member]
Inter-segment Revenues	25,510	23,525
Intersegment Eliminations [Member] | Lighting Segment [Member]
Inter-segment Revenues	811	409
Intersegment Eliminations [Member] | Graphics Segment [Member]
Inter-segment Revenues	$ 24	$ 31

Note 4 - Earnings Per Common _3

Note 4 - Earnings Per Common Share (Details Textual) - shares	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,861,423	3,146,466

Note 4 - Earnings Per Common _4

Note 4 - Earnings Per Common Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended
		Sep. 30, 2019	Sep. 30, 2018
BASIC EARNINGS (LOSS) PER SHARE
Net income		$ 4,475	$ 1,749
Weighted average shares outstanding, net of treasury shares (a) (in shares)	[1]	26,024	25,752
Weighted average vested restricted stock units outstanding (in shares)		188	227
Weighted average shares outstanding (in shares)		26,236	26,032
Basic earnings per share (in dollars per share)		$ 0.17	$ 0.07
Basic (in shares)		26,236	26,032
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any (in shares)	[2]	57	333
Weighted average shares outstanding (c) (in shares)	[3]	26,293	26,365
Diluted earnings per share (in dollars per share)		$ 0.17	$ 0.07
Restricted Stock Units (RSUs) [Member]
BASIC EARNINGS (LOSS) PER SHARE
Weighted average vested restricted stock units outstanding (in shares)		24	53
[1]	Includes shares accounted for like treasury stock.
[2]	Calculated using the "Treasury Stock" method as if dilutive securities were exercised and the funds were used to purchase common shares at the average market price during the period.
[3]	Options to purchase 2,861,423 common shares and 3,146,466 common shares at September 30, 2019 and 2018, respectively, were not included in the computation of the three month period for diluted earnings per share, respectively, because the exercise price was greater than the average fair market value of the common shares.

Note 5 - Inventories - Inventor

Note 5 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019	Jul. 01, 2018	Jun. 30, 2018
Inventories:
Raw materials	$ 28,783	$ 27,927
Work-in-process	1,757	2,193
Finished goods	12,538	13,392
Total Inventories	$ 43,078	$ 43,512	$ 46,827	$ 50,994

Note 6 - Accrued Expenses - Acc

Note 6 - Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Accrued Expenses:
Compensation and benefits	$ 3,974	$ 5,319
Customer prepayments	1,898	1,768
Accrued sales commissions	2,248	1,301
Accrued warranty	7,666	7,687
Other accrued expenses	6,085	5,136
Total Accrued Expenses	$ 21,871	$ 21,211

Note 7 - Goodwill and Other I_3

Note 7 - Goodwill and Other Intangible Assets (Details Textual)	3 Months Ended
	Sep. 30, 2019
Number of Reporting Units	2
Lighting Segment [Member]
Number of Reporting Units	1
Graphics Segment [Member]
Number of Reporting Units	1

Note 7 - Goodwill and Other I_4

Note 7 - Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Goodwill	$ 123,254	$ 123,254
Accumulated impairment losses	(112,881)	(112,881)
Goodwill, net	10,373	10,373
Lighting Segment [Member]
Goodwill	94,564	94,564
Accumulated impairment losses	(85,356)	(85,356)
Goodwill, net	9,208	9,208
Graphics Segment [Member]
Goodwill	28,690	28,690
Accumulated impairment losses	(27,525)	(27,525)
Goodwill, net	$ 1,165	$ 1,165

Note 7 - Goodwill and Other I_5

Note 7 - Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Amortized intangible assets, gross	$ 54,625	$ 54,625
Accumulated amortization	26,075	25,400
Amortized intangible assets, net	28,550	29,225
Indefinite-lived intangible assets, gross	3,422	3,422
Total other intangible assets, gross	58,047	58,047
Total other intangible assets, net	31,972	32,647
Trademarks and Trade Names [Member]
Indefinite-lived intangible assets, gross	3,422	3,422
Customer Relationships [Member]
Amortized intangible assets, gross	35,563	35,563
Accumulated amortization	12,585	12,070
Amortized intangible assets, net	22,978	23,493
Patents [Member]
Amortized intangible assets, gross	338	338
Accumulated amortization	254	247
Amortized intangible assets, net	84	91
Technology-Based Intangible Assets [Member]
Amortized intangible assets, gross	16,066	16,066
Accumulated amortization	12,489	12,364
Amortized intangible assets, net	3,577	3,702
Trade Names [Member]
Amortized intangible assets, gross	2,658	2,658
Accumulated amortization	747	719
Amortized intangible assets, net	$ 1,911	$ 1,939

Note 7 - Goodwill and Other I_6

Note 7 - Goodwill and Other Intangible Assets - Amortization Expense of Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Three Months Ended	$ 675	$ 691

Note 7 - Goodwill and Other I_7

Note 7 - Goodwill and Other Intangible Assets - Future Amortization Expense (Details) $ in Thousands	Sep. 30, 2019USD ($)
2020	$ 2,687
2021	2,682
2022	2,459
2023	2,412
2024	2,412
After 2024	$ 16,573

Note 8 - Revolving Line of Cr_2

Note 8 - Revolving Line of Credit and Long-term Debt (Details Textual) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Feb. 28, 2019	Sep. 30, 2019	Feb. 27, 2019
Long-term Line of Credit, Total		$ 23.2
Line of Credit Facility, Remaining Borrowing Capacity		$ 51.8
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		2.00%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.50%
UNITED STATES
Line of Credit Facility, Maximum Borrowing Capacity	$ 75		$ 100
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		0.20%

Note 9 - Cash Dividends (Detail

Note 9 - Cash Dividends (Details Textual) - USD ($)	1 Months Ended	3 Months Ended
	Nov. 30, 2019	Sep. 30, 2019	Sep. 30, 2018
Payments of Dividends, Total		$ 1,319,000	$ 1,296,000
Dividends Accrued		$ 34,842	$ 31,553
Forecast [Member]
Annual Indicated per Share Dividend Rate	$ 0.20
Subsequent Event [Member]
Quarterly Indicated Per Share Dividend Rate	$ 0.05
Dividends Payable, Date to be Paid	Nov. 26, 2019
Dividends Payable, Date of Record	Nov. 18, 2019

Note 10 - Equity Compensation (

Note 10 - Equity Compensation (Details Textual)	3 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares	Sep. 30, 2018USD ($)
Share-based Payment Arrangement, Expense | $	$ 398,000	$ 551,000
The 2019 Omnibus Award Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	2,650,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	3,800,000
The 2019 Omnibus Award Plan [Member] | Non-qualified Serviced-based Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	455,429
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ / shares	$ 3.83
The 2019 Omnibus Award Plan [Member] | Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 3.83
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	199,310
The 2019 Omnibus Award Plan [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 3.83
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	81,917
The 2012 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	1,147,429
Share-based Compensation Arrangement by Share-based Payment Award, Fungible Share Ratio	2.5

Note 11 - Supplemental Cash F_3

Note 11 - Supplemental Cash Flow Information - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash payments:
Interest	$ 464	$ 518
Income taxes		(39)
Issuance of common shares as compensation	75	90
Issuance of common shares to fund deferred compensation plan	$ 33	$ 127

Note 12 - Commitments and Con_2

Note 12 - Commitments and Contingencies (Details Textual) $ in Thousands	Sep. 30, 2019USD ($)
Standby Letters of Credit [Member]
Letters of Credit Outstanding, Amount	$ 0

Note 13 - Severance Costs (Deta

Note 13 - Severance Costs (Details Textual) - Employee Severance [Member]	Sep. 30, 2019USD ($)
Postemployment Benefits Liability, Total	$ 990,000
Postemployment Benefits Liability, Current	591,000
Postemployment Benefits Liability, Noncurrent	$ 399,000

Note 13 - Severance Costs - Acc

Note 13 - Severance Costs - Accrued Severance Liability Activity (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2019
Balance	$ 1,134	$ 1,772	$ 1,772
Accrual of expense	18		560
Payments	(162)	(197)	(1,198)
Adjustments
Balance	$ 990	$ 1,575	$ 1,134

Note 14 - Restructuring Costs_2

Note 14 - Restructuring Costs (Details Textual) - USD ($)	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Proceeds from Sale of Property, Plant, and Equipment, Total	$ 12,338,000
Gain (Loss) on Disposition of Property Plant Equipment, Total	4,800,000
Sell Manufacturing Facility In New Windsor, New York [Member]
Proceeds from Sale of Property, Plant, and Equipment, Total	12,300,000
Gain (Loss) on Disposition of Property Plant Equipment, Total	4,800,000
Restructuring and Related Costs, Incurred Cost, Total	$ 233,000

Note 14 - Restructuring Costs -

Note 14 - Restructuring Costs - Summary of Restructuring Costs for the Period (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Severance benefits		$ 19
Moving costs		53
Impairment of fixed assets and accelerated depreciation	49	43
Facility repairs		40
Gain on sale of facility	(4,821)
Exit Costs	184
Total	$ (4,588)	$ 155

Note 14 - Restructuring Costs_3

Note 14 - Restructuring Costs - Liability Balances Related to Restructuring Costs (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2019USD ($)
Balance, beginning	$ 236
Restructuring Expense	184
Payments	(315)
Adjustments	0
Balance, ending	105
Severance and Other Termination Benefits [Member]
Balance, beginning	236
Restructuring Expense
Payments	(131)
Adjustments	0
Balance, ending	105
Other Restructuring [Member]
Balance, beginning	0
Restructuring Expense	184
Payments	(184)
Adjustments	0
Balance, ending

Note 15 - Leases (Details Textu

Note 15 - Leases (Details Textual) - USD ($)	Sep. 30, 2019	Jul. 01, 2019
Operating Lease, Weighted Average Remaining Lease Term	5 years 109 days
Operating Lease, Right-of-Use Asset	$ 9,953,000
Operating Lease, Liability, Total	$ 10,692,000
Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset		$ 10,400,000
Operating Lease, Liability, Total		$ 10,800,000
Minimum [Member]
Operating Lease, Weighted Average Remaining Lease Term	1 year
Maximum [Member]
Operating Lease, Weighted Average Remaining Lease Term	5 years

Note 15 - Leases - Operating Le

Note 15 - Leases - Operating Lease Information (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2019USD ($)
Operating lease cost	$ 587
Fixed payments	573
Liability reduction	443
Operating Lease, Right-of-Use Asset	9,953
Accrued Liabiltities (Current liabilities)	324
Long-term operating lease liability (Other long-term liabilties)	10,368
Operating Lease, Liability, Total	$ 10,692
Weighted Average Remaining Lease Term (in years) (Year)	5 years 109 days
Weighted Average Discount Rate	4.85%

Note 15 - Leases - Maturities o

Note 15 - Leases - Maturities of Lease Liability (Details) $ in Thousands	Sep. 30, 2019USD ($)
2020	$ 1,846
2021	2,303
2022	2,279
2023	2,244
2024	1,918
therefter	1,680
Total lease payments	12,270
Less: Interest	(1,578)
Present Value of Lease Liabilities	$ 10,692

Note 16 - Income Taxes (Details

Note 16 - Income Taxes (Details Textual)	3 Months Ended
	Sep. 30, 2019USD ($)
Gain (Loss) on Disposition of Property Plant Equipment, Total	$ 4,800,000
Deferred Tax Assets, Property, Plant and Equipment	$ 864,000

Note 16 - Income Taxes - Reconc

Note 16 - Income Taxes - Reconciliation of Income Tax Rate (Details)	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Provision for income taxes at the anticipated annual tax rate	24.10%	23.00%
Uncertain tax positions	0.50%	1.30%
Shared based compensation	4.30%	3.30%
Other	0.40%
Effective tax rate	29.30%	27.60%