LSI Industries (LYTS) 10-Q 6 Feb 20 2020 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Dec. 31, 2019	Jan. 27, 2020
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)		26,136,418
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false
Title of 12(b) Security	Common Stock, no par value
Entity Interactive Data Current	Yes

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Net Sales		$ 82,377	$ 89,541	$ 171,078	$ 174,498
Cost of products and services sold		62,136	69,486	128,724	133,027
Restructuring costs		277	376	535	531
Severance costs			23		23
Gross profit		19,964	19,656	41,819	40,917
Selling and administrative expenses		18,151	19,148	38,013	37,475
Restructuring (gain) costs		(1)	25	(4,847)	25
Severance costs		54	469	54	469
Impairment of goodwill			20,165		20,165
Transition and realignment costs			120		120
Operating income (loss)		1,760	(20,271)	8,599	(17,337)
Interest (income)		(1)	(17)	(2)	(31)
Interest expense		234	632	666	1,164
Other (income)		(91)		(9)
Income (loss) before income taxes		1,618	(20,886)	7,944	(18,470)
Income tax (benefit) expense		(125)	(5,104)	1,726	(4,437)
Net income (loss)		$ 1,743	$ (15,782)	$ 6,218	$ (14,033)
Earnings (loss) per common share (see Note 4)
Basic (in dollars per share)		$ 0.07	$ (0.61)	$ 0.24	$ (0.54)
Diluted (in dollars per share)		$ 0.07	$ (0.61)	$ 0.24	$ (0.54)
Weighted average common shares outstanding
Basic (in shares)		26,280	26,083	26,257	26,058
Diluted (in shares)	[1]	26,534	26,083	26,364	26,058
[1]	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.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Net income (loss)	$ 1,743	$ (15,782)	$ 6,218	$ (14,033)
Foreign currency translation adjustment	29		6
Comprehensive Income (Loss)	$ 1,772	$ (15,782)	$ 6,224	$ (14,033)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Current assets
Cash and cash equivalents	$ 1,248	$ 966
Accounts receivable, less allowance for doubtful accounts of $523 and $879, respectively	44,532	54,728
Inventories	43,311	43,512
Refundable income tax	994	882
Asset held for sale		7,512
Other current assets	3,214	3,380
Total current assets	93,299	110,980
Property, Plant and Equipment, at cost
Land	4,602	4,576
Buildings	27,363	27,015
Machinery and equipment	70,558	73,185
Construction in progress	808	455
	103,331	105,231
Less accumulated depreciation	(73,480)	(73,255)
Net property, plant and equipment	29,851	31,976
Goodwill	10,373	10,373
Other Intangible Assets, net	31,301	32,647
Other Long-Term Assets, net	22,537	15,124
Total assets	187,361	201,100
LIABILITIES & SHAREHOLDERS' EQUITY
Accounts payable	20,528	18,664
Accrued expenses	21,173	21,211
Total current liabilities	41,701	39,875
Long-Term Debt	10,437	39,541
Other Long-Term Liabilities	11,310	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 26,124,103 and 25,967,275 shares, respectively	126,552	125,729
Treasury shares, without par value	(808)	(1,468)
Deferred compensation plan	808	1,468
Retained (loss)	(2,661)	(5,808)
Accumulated other comprehensive income	22	16
Total shareholders' equity	123,913	119,937
Total liabilities & shareholders' equity	$ 187,361	$ 201,100

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Allowance for doubtful accounts	$ 523	$ 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)	26,124,103	25,967,275

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	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 (loss)					(14,033)	(14,033)
Other comprehensive income
Stock compensation awards (in shares)	37
Stock compensation awards	$ 180					180
Restricted stock units issued (in shares)	97
Restricted stock units issued
Shares issued for deferred compensation (in shares)	43
Shares issued for deferred compensation	$ 189					189
Activity of treasury shares, net (in shares)		42
Activity of treasury shares, net		$ 549				549
Deferred stock compensation			(542)			(542)
Stock-based compensation expense	727					727
Dividends — $0.20 per share					(2,587)	(2,587)
Cumulative effect of adoption of accounting guidance					591	591
Balance (in shares) at Dec. 31, 2018	26,061	(200)
Balance at Dec. 31, 2018	$ 125,200	$ (1,561)	1,591		(905)	124,325
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 (loss)					6,218	6,218
Other comprehensive income				6		6
Stock compensation awards (in shares)	36
Stock compensation awards	$ 150					150
Restricted stock units issued (in shares)	18
Restricted stock units issued
Shares issued for deferred compensation (in shares)	10
Shares issued for deferred compensation	$ 47					47
Activity of treasury shares, net (in shares)		87
Activity of treasury shares, net		$ 660				660
Deferred stock compensation			(660)			(660)
Stock-based compensation expense	597					597
Dividends — $0.20 per share					(2,643)	(2,643)
Cumulative effect of adoption of accounting guidance					(428)	(428)
Stock options exercised, net (in shares)	6
Stock options exercised, net	$ 29					29
Balance (in shares) at Dec. 31, 2019	26,246	(122)
Balance at Dec. 31, 2019	$ 126,552	$ (808)	$ 808	$ 22	$ (2,661)	$ 123,913

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	6 Months Ended
	Dec. 31, 2019	Dec. 31, 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	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash Flows from Operating Activities
Net income (loss)	$ 6,218	$ (14,033)
Non-cash items included in net income
Depreciation and amortization	4,551	5,235
Deferred income taxes	1,893	(4,701)
Impairment of goodwill		20,165
Deferred compensation plan	47	196
Stock compensation expense	597	727
Issuance of common shares as compensation	150	180
(Gain) loss on disposition of fixed assets	(4,753)	(10)
Allowance for doubtful accounts	(356)	256
Inventory obsolescence reserve	(212)	2,043
Changes in certain assets and liabilities
Accounts receivable	10,552	(1,142)
Inventories	413	(9,309)
Refundable income taxes	(112)	784
Accounts payable	1,864	8,704
Accrued expenses and other	406	(1,873)
Customer prepayments	(355)	406
Net cash flows provided by operating activities	20,903	7,628
Cash Flows from Investing Activities
Proceeds from the sale of assets	12,340	10
Purchases of property, plant and equipment	(1,119)	(1,579)
Net cash flows provided by (used in) investing activities	11,221	(1,569)
Cash Flows from Financing Activities
Payments of long-term debt	(99,746)	(52,066)
Borrowings of long-term debt	70,642	55,078
Cash dividends paid	(2,643)	(2,587)
Shares withheld for employees' taxes	(124)	(99)
Proceeds from stock option exercises	29
Net cash flows (used in) provided by financing activities	(31,842)	326
Increase in cash and cash equivalents	282	6,385
Cash and cash equivalents at beginning of period	966	3,178
Cash and cash equivalents at end of period	$ 1,248	$ 9,563

Note 1 - Interim Condensed Cons

Note 1 - Interim Condensed Consolidated Financial Statements	6 Months Ended
	Dec. 31, 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 December 31, 2019, three six December 31, 2019 2018, six December 31, 2019 2018. 2019 10 June 30, 2019

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Consolidation: A summary of the Company’s significant accounting policies is included in Note 1 2019 10 2014 09 606 first 2019 2016 02, first 2020 Revenue Recognition: The Company recognizes revenue when it satisfies the performance obligation 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 the Company’s 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 print graphics branding ● 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 its revenue and cash flows. The table presents a reconciliation of the disaggregation by reportable segments. Three Months Ended Six Months Ended (In thousands) December 31, 2019 December 31, 2019 Lighting Segment Graphics Segment Lighting Segment Graphics Segment Timing of revenue recognition Products and services transferred at a point in time $ 47,513 $ 17,521 $ 104,038 $ 35,246 Products and services transferred over time 5,923 11,420 12,589 19,205 $ 53,436 $ 28,941 $ 116,627 $ 54,451 Three Months Ended Six Months Ended December 31, 2019 December 31, 2019 Lighting Segment Graphics Segment Lighting Segment Graphics Segment Type of Product and Services LED lighting, digital signage solutions, electronic circuit boards $ 46,596 $ 7,407 $ 101,079 $ 11,281 Legacy products 6,265 16,011 14,303 32,711 Turnkey services and other 575 5,523 1,245 10,459 $ 53,436 $ 28,941 $ 116,627 $ 54,451 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, Opening Balance as of Balance as of June 30, 2018 Adjustments June 30, 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 Shareholder's 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 In December 2019, second 2020. $8 March 31, 2020.

Note 3 - Segment Reporting Info

Note 3 - Segment Reporting Information	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 3 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 store, and retail/national accounts. The Company also addresses 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 expenses, 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 six December 31, 2019 2018. no December 31, 2019 June 30, 2019. Summarized financial information for the Company’s operating segments is provided for the indicated periods and as of December 31, 2019 December 31, 2018: Three Months Ended Six Months Ended (In thousands) December 31 December 31 2019 2018 2019 2018 Net Sales: Lighting Segment $ 53,436 $ 63,654 $ 116,627 $ 125,086 Graphics Segment 28,941 25,887 54,451 49,412 $ 82,377 $ 89,541 $ 171,078 $ 174,498 Operating Income (Loss): Lighting Segment $ 3,150 $ (18,452 ) $ 12,309 $ (14,602 ) Graphics Segment 1,362 861 2,379 3,248 Corporate and Eliminations (2,752 ) (2,680 ) (6,089 ) (5,983 ) $ 1,760 $ (20,271 ) $ 8,599 $ (17,337 ) Capital Expenditures: Lighting Segment $ 557 $ 588 $ 887 $ 864 Graphics Segment 45 249 45 515 Corporate and Eliminations 162 94 187 200 $ 764 $ 931 $ 1,119 $ 1,579 Depreciation and Amortization: Lighting Segment $ 1,661 $ 1,952 $ 3,439 $ 3,942 Graphics Segment 374 397 760 792 Corporate and Eliminations 117 243 352 501 $ 2,152 $ 2,592 $ 4,551 $ 5,235 December 31, June 30, Identifiable Assets: Lighting Segment $ 130,446 $ 142,105 Graphics Segment 39,826 40,914 Corporate and Eliminations 17,089 18,081 $ 187,361 $ 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% Inter-segment sales Three Months Ended Six Months Ended (In thousands) December 31 December 31 2019 2018 2019 2018 Lighting Segment inter-segment net sales $ 860 $ 870 $ 1,671 $ 1,279 Graphics Segment inter-segment net sales $ 74 $ 44 $ 98 $ 75 The Company’s operations are located solely within North America. As a result, the geographic distribution of the Company’s net sales and long-lived assets originate within North America.

Note 4 - Earnings Per Common Sh

Note 4 - Earnings Per Common Share	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 4 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 Six Months Ended December 31 December 31 2019 2018 2019 2018 BASIC EARNINGS PER SHARE Net income (loss) $ 1,743 $ (15,782 ) $ 6,218 $ (14,033 ) Weighted average shares outstanding during the period, net of treasury shares (a) 26,101 25,838 26,063 25,795 Weighted average vested restricted stock units outstanding 39 33 31 43 Weighted average shares outstanding in the Deferred Compensation Plan during the period 140 212 163 220 Weighted average shares outstanding 26,280 26,083 26,257 26,058 Basic income (loss) per share $ 0.07 $ (0.61 ) $ 0.24 $ (0.54 ) DILUTED EARNINGS PER SHARE Net income (loss) $ 1,743 $ (15,782 ) $ 6,218 $ (14,033 ) Weighted average shares outstanding Basic 26,280 26,083 26,257 26,058 Effect of dilutive securities (b): Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any 254 - 107 - Weighted average shares outstanding 26,534 26,083 26,364 26,058 Diluted income (loss) per share $ 0.07 $ (0.61 ) $ 0.24 $ (0.54 ) Anti-dilutive securities (c) 1,904 3,537 2,506 3,356 (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) Anti-dilutive securities were excluded from the computation of diluted net income per share for the three six December 31, 2019 three six December 31, 2018, not

Note 5 - Inventories

Note 5 - Inventories	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 5 The following information is provided as of the dates indicated: December 31, June 30, (In thousands) 2019 2019 Inventories: Raw materials $ 29,685 $ 27,927 Work-in-progress 1,742 2,193 Finished goods 11,884 13,392 Total Inventories $ 43,311 $ 43,512

Note 6 - Accrued Expenses

Note 6 - Accrued Expenses	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	NOTE 6 The following information is provided as of the dates indicated: December 31, June 30, (In thousands) 2019 2019 Accrued Expenses: Compensation and benefits $ 5,493 $ 5,319 Customer prepayments 1,413 1,768 Accrued sales commissions 1,198 1,301 Accrued warranty 7,601 7,687 Other accrued expenses 5,468 5,136 Total Accrued Expenses $ 21,173 $ 21,211

Note 7 - Goodwill and Other Int

Note 7 - Goodwill and Other Intangible Assets	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	NOTE 7 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 December 31, 2019 Goodwill $ 94,564 $ 28,690 $ 123,254 Accumulated impairment losses (85,356 ) (27,525 ) (112,881 ) Goodwill, net as of December 31, 2019 $ 9,208 $ 1,165 $ 10,373 The following table presents the gross carrying amount and accumulated amortization by each major asset class: Other Intangible Assets December 31, 2019 (In thousands) Gross Carrying Accumulated Net Amount Amortization Amount Amortized Intangible Assets Customer relationships $ 35,563 $ 13,100 $ 22,463 Patents 338 262 76 LED technology firmware, software 16,066 12,610 3,456 Trade name 2,658 774 1,884 Total Amortized Intangible Assets 54,625 26,746 27,879 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 $ 26,746 $ 31,301 Other Intangible Assets June 30, 2019 (In thousands) Gross Carrying Accumulated Net Amount Amortization Amount Amortized Intangible Assets Customer relationships $ 35,563 $ 12,070 $ 23,493 Patents 338 247 91 LED technology firmware, software 16,066 12,364 3,702 Trade name 2,658 719 1,939 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 Three Months Ended Six Months Ended December 31 December 31 (In thousands) 2019 2018 2019 2018 Amortization Expense of Other Intangible Assets $ 671 $ 689 $ 1,346 $ 1,380 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	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 8 - REVOLVING LINE OF CREDIT In February 2019, $75 $100 third 2022. 125 250 175 third 2020. $75 20 December 31, 2019, $10.4 $64.6 The Company is in compliance with all of its loan covenants as of December 31, 2019.

Note 9 - Cash Dividends

Note 9 - Cash Dividends	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 9 CASH DIVIDENDS The Company paid cash dividends of $2,643,000 $2,587,000 six December 31, 2019 2018, $52,383 $34,631 December 31, 2019 2018, February 2020, $0.05 February 26, 2020 February 18, 2020 $0.20

Note 10 - Equity Compensation

Note 10 - Equity Compensation	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	NOTE 10 In November 2019, 2019 “2019 2019 may 2019 2012 “2012 2019 2,650,000 2012 2019 3,802,363, December 31, 2019. 2019 2.5 2019 In the first 2020, 455,429 $3.83 199,310 81,917 $ 3.83 $199,000 $176,000 three December 31, 2019 2018, $597,000 $727,000 six December 31, 2019 2018,

Note 11 - Supplemental Cash Flo

Note 11 - Supplemental Cash Flow Information	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	NOTE 1 1 - SUPPLEMENTAL CASH FLOW INFORMATION Six Months Ended (In thousands) December 31 2019 2018 Cash Payments: Interest $ 742 $ 1,133 Income taxes $ - $ 3 Non-cash investing and financing activities Issuance of common shares as compensation $ 150 $ 180 Issuance of common shares to fund deferred compensation plan $ 47 $ 189

Note 12 - Commitments and Conti

Note 12 - Commitments and Contingencies	6 Months Ended
	Dec. 31, 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 December 31, 2019, no

Note 13 - Severance Costs

Note 13 - Severance Costs	6 Months Ended
	Dec. 31, 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: Six Months Six Months Fiscal Year Ended Ended Ended December 31, December 31, June 30, (In thousands) 2019 2018 2019 Balance at beginning of period $ 1,134 $ 1,772 $ 1,772 Accrual of expense 46 492 560 Payments (319 ) (549 ) (1,198 ) Balance at end of period $ 861 $ 1,715 $ 1,134 Of the total $861,000 December 31, 2019, $601,000 twelve $260,000

Note 14 - Restructuring Costs

Note 14 - Restructuring Costs	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	NOTE 1 4 – RESTRUCTURING COSTS In the first 2020, $12.3 $4.8 first 2020 second 2020 $276,000 $509,000 three six December 31, 2019, The following table presents information about restructuring costs for the periods indicated: Three Months Ended Six Months Ended December 31 December 31 (In thousands) 2019 2018 2019 2018 Severance benefits $ - $ 202 $ - $ 221 Impairment of fixed assets and accelerated depreciation - 185 49 228 Facility repairs - 7 - 47 Gain on sale of facility - - (4,821 ) - Exit costs - 7 184 60 Manufacturing realignment costs 276 - 276 - Total $ 276 $ 401 $ (4,312 ) $ 556 The following table presents a roll forward of the beginning and ending liability balances related to the restructuring costs: Balance as of Balance as of June 30, Restructuring December 31, (In thousands) 2019 Expense Payments Adjustments 2019 Severance and termination benefits $ 236 $ - $ (186 ) $ - $ 50 Other restructuring costs - 460 (460 ) - $ - Total $ 236 $ 460 $ (646 ) $ - $ 50

Note 15 - Leases

Note 15 - Leases	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	NOTE 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 six December 31, 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 Six months ended (In thousands) December 31, 2019 December 31, 2019 Operating lease cost $ 575 $ 1,162 Supplemental Cash Flow Information: Six months ended (In thousands) December 31, 2019 Operating cash flows from operating leases Fixed payments 1,139 Liability reduction 885 Operating Leases: At December 31, 2019 Total operating right-of-use asset (Other long-term assets) 9,504 Accrued liabilities (Current liabilities) 344 Long-term operating lease liability (Other long-term liabilities) 9,906 10,250 Weighted Average remaining Lease Term (in years) 5.05 Weighted Average Discount Rate 4.85 % Maturities of Lease Liability: 2020 1,404 2021 2,303 2022 2,279 2023 2,244 2024 1,917 Thereafter 1,679 Total lease payments 11,826 Less: Interest (1,579 ) Present Value of Lease Liabilities 10,247

Note 16 - Income Taxes

Note 16 - Income Taxes	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 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 December 2019, 2020 In the first 2020, $4.8 $864,000 In the second 2019, $4.8 Three Months Ended Six Months Ended December 31 December 31 2019 2018 2019 2018 Reconciliation of effective tax rate: Provision for income taxes at the anticipated annual tax rate (2.6 %) 23.0 % 18.1 % 23.0 % Uncertain tax positions (5.5 ) 0.8 (0.7 ) 0.8 Difference between deferred and current tax rate related to the impairment of goodwill - 0.6 - 0.7 Shared-based compensation 0.3 - 3.5 (0.5 ) Other - - 0.8 - Effective tax rate (7.8 %) 24.4 % 21.7 % 24.0 %

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Consolidation: A summary of the Company’s significant accounting policies is included in Note 1 2019 10 2014 09 606 first 2019 2016 02, first 2020
Revenue [Policy Text Block]	Revenue Recognition: The Company recognizes revenue when it satisfies the performance obligation 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 the Company’s 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 print graphics branding ● 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 its revenue and cash flows. The table presents a reconciliation of the disaggregation by reportable segments. Three Months Ended Six Months Ended (In thousands) December 31, 2019 December 31, 2019 Lighting Segment Graphics Segment Lighting Segment Graphics Segment Timing of revenue recognition Products and services transferred at a point in time $ 47,513 $ 17,521 $ 104,038 $ 35,246 Products and services transferred over time 5,923 11,420 12,589 19,205 $ 53,436 $ 28,941 $ 116,627 $ 54,451 Three Months Ended Six Months Ended December 31, 2019 December 31, 2019 Lighting Segment Graphics Segment Lighting Segment Graphics Segment Type of Product and Services LED lighting, digital signage solutions, electronic circuit boards $ 46,596 $ 7,407 $ 101,079 $ 11,281 Legacy products 6,265 16,011 14,303 32,711 Turnkey services and other 575 5,523 1,245 10,459 $ 53,436 $ 28,941 $ 116,627 $ 54,451 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, Opening Balance as of Balance as of June 30, 2018 Adjustments June 30, 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 Shareholder's 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 In December 2019, second 2020. $8 March 31, 2020.

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Dec. 31, 2019
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended Six Months Ended (In thousands) December 31, 2019 December 31, 2019 Lighting Segment Graphics Segment Lighting Segment Graphics Segment Timing of revenue recognition Products and services transferred at a point in time $ 47,513 $ 17,521 $ 104,038 $ 35,246 Products and services transferred over time 5,923 11,420 12,589 19,205 $ 53,436 $ 28,941 $ 116,627 $ 54,451 Three Months Ended Six Months Ended December 31, 2019 December 31, 2019 Lighting Segment Graphics Segment Lighting Segment Graphics Segment Type of Product and Services LED lighting, digital signage solutions, electronic circuit boards $ 46,596 $ 7,407 $ 101,079 $ 11,281 Legacy products 6,265 16,011 14,303 32,711 Turnkey services and other 575 5,523 1,245 10,459 $ 53,436 $ 28,941 $ 116,627 $ 54,451
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	Opening Balance as of Balance as of June 30, 2018 Adjustments June 30, 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 Shareholder's Equity: Retained earnings $ 15,124 $ 591 $ 15,715

Note 3 - Segment Reporting In_2

Note 3 - Segment Reporting Information (Tables)	6 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended Six Months Ended (In thousands) December 31 December 31 2019 2018 2019 2018 Net Sales: Lighting Segment $ 53,436 $ 63,654 $ 116,627 $ 125,086 Graphics Segment 28,941 25,887 54,451 49,412 $ 82,377 $ 89,541 $ 171,078 $ 174,498 Operating Income (Loss): Lighting Segment $ 3,150 $ (18,452 ) $ 12,309 $ (14,602 ) Graphics Segment 1,362 861 2,379 3,248 Corporate and Eliminations (2,752 ) (2,680 ) (6,089 ) (5,983 ) $ 1,760 $ (20,271 ) $ 8,599 $ (17,337 ) Capital Expenditures: Lighting Segment $ 557 $ 588 $ 887 $ 864 Graphics Segment 45 249 45 515 Corporate and Eliminations 162 94 187 200 $ 764 $ 931 $ 1,119 $ 1,579 Depreciation and Amortization: Lighting Segment $ 1,661 $ 1,952 $ 3,439 $ 3,942 Graphics Segment 374 397 760 792 Corporate and Eliminations 117 243 352 501 $ 2,152 $ 2,592 $ 4,551 $ 5,235
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	December 31, June 30, Identifiable Assets: Lighting Segment $ 130,446 $ 142,105 Graphics Segment 39,826 40,914 Corporate and Eliminations 17,089 18,081 $ 187,361 $ 201,100
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Inter-segment sales Three Months Ended Six Months Ended (In thousands) December 31 December 31 2019 2018 2019 2018 Lighting Segment inter-segment net sales $ 860 $ 870 $ 1,671 $ 1,279 Graphics Segment inter-segment net sales $ 74 $ 44 $ 98 $ 75

Note 4 - Earnings Per Common _2

Note 4 - Earnings Per Common Share (Tables)	6 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Six Months Ended December 31 December 31 2019 2018 2019 2018 BASIC EARNINGS PER SHARE Net income (loss) $ 1,743 $ (15,782 ) $ 6,218 $ (14,033 ) Weighted average shares outstanding during the period, net of treasury shares (a) 26,101 25,838 26,063 25,795 Weighted average vested restricted stock units outstanding 39 33 31 43 Weighted average shares outstanding in the Deferred Compensation Plan during the period 140 212 163 220 Weighted average shares outstanding 26,280 26,083 26,257 26,058 Basic income (loss) per share $ 0.07 $ (0.61 ) $ 0.24 $ (0.54 ) DILUTED EARNINGS PER SHARE Net income (loss) $ 1,743 $ (15,782 ) $ 6,218 $ (14,033 ) Weighted average shares outstanding Basic 26,280 26,083 26,257 26,058 Effect of dilutive securities (b): Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any 254 - 107 - Weighted average shares outstanding 26,534 26,083 26,364 26,058 Diluted income (loss) per share $ 0.07 $ (0.61 ) $ 0.24 $ (0.54 ) Anti-dilutive securities (c) 1,904 3,537 2,506 3,356

Note 5 - Inventories (Tables)

Note 5 - Inventories (Tables)	6 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Inventory, Current [Table Text Block]	December 31, June 30, (In thousands) 2019 2019 Inventories: Raw materials $ 29,685 $ 27,927 Work-in-progress 1,742 2,193 Finished goods 11,884 13,392 Total Inventories $ 43,311 $ 43,512

Note 6 - Accrued Expenses (Tabl

Note 6 - Accrued Expenses (Tables)	6 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	December 31, June 30, (In thousands) 2019 2019 Accrued Expenses: Compensation and benefits $ 5,493 $ 5,319 Customer prepayments 1,413 1,768 Accrued sales commissions 1,198 1,301 Accrued warranty 7,601 7,687 Other accrued expenses 5,468 5,136 Total Accrued Expenses $ 21,173 $ 21,211

Note 7 - Goodwill and Other I_2

Note 7 - Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Dec. 31, 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 December 31, 2019 Goodwill $ 94,564 $ 28,690 $ 123,254 Accumulated impairment losses (85,356 ) (27,525 ) (112,881 ) Goodwill, net as of December 31, 2019 $ 9,208 $ 1,165 $ 10,373
Schedule of Intangible Assets and Goodwill [Table Text Block]	Other Intangible Assets December 31, 2019 (In thousands) Gross Carrying Accumulated Net Amount Amortization Amount Amortized Intangible Assets Customer relationships $ 35,563 $ 13,100 $ 22,463 Patents 338 262 76 LED technology firmware, software 16,066 12,610 3,456 Trade name 2,658 774 1,884 Total Amortized Intangible Assets 54,625 26,746 27,879 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 $ 26,746 $ 31,301 Other Intangible Assets June 30, 2019 (In thousands) Gross Carrying Accumulated Net Amount Amortization Amount Amortized Intangible Assets Customer relationships $ 35,563 $ 12,070 $ 23,493 Patents 338 247 91 LED technology firmware, software 16,066 12,364 3,702 Trade name 2,658 719 1,939 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]	Three Months Ended Six Months Ended December 31 December 31 (In thousands) 2019 2018 2019 2018 Amortization Expense of Other Intangible Assets $ 671 $ 689 $ 1,346 $ 1,380
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)	6 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Six Months Ended (In thousands) December 31 2019 2018 Cash Payments: Interest $ 742 $ 1,133 Income taxes $ - $ 3 Non-cash investing and financing activities Issuance of common shares as compensation $ 150 $ 180 Issuance of common shares to fund deferred compensation plan $ 47 $ 189

Note 13 - Severance Costs (Tabl

Note 13 - Severance Costs (Tables)	6 Months Ended
	Dec. 31, 2019
Employee Severance [Member]
Notes Tables
Schedule of Accrued Severance Liability [Table Text Block]	Six Months Six Months Fiscal Year Ended Ended Ended December 31, December 31, June 30, (In thousands) 2019 2018 2019 Balance at beginning of period $ 1,134 $ 1,772 $ 1,772 Accrual of expense 46 492 560 Payments (319 ) (549 ) (1,198 ) Balance at end of period $ 861 $ 1,715 $ 1,134

Note 14 - Restructuring Costs (

Note 14 - Restructuring Costs (Tables)	6 Months Ended
	Dec. 31, 2019
Notes Tables
Restructuring and Related Costs [Table Text Block]	Three Months Ended Six Months Ended December 31 December 31 (In thousands) 2019 2018 2019 2018 Severance benefits $ - $ 202 $ - $ 221 Impairment of fixed assets and accelerated depreciation - 185 49 228 Facility repairs - 7 - 47 Gain on sale of facility - - (4,821 ) - Exit costs - 7 184 60 Manufacturing realignment costs 276 - 276 - Total $ 276 $ 401 $ (4,312 ) $ 556
Schedule of Liability Balances Related to Restructuring Costs [Table Text Block]	Balance as of Balance as of June 30, Restructuring December 31, (In thousands) 2019 Expense Payments Adjustments 2019 Severance and termination benefits $ 236 $ - $ (186 ) $ - $ 50 Other restructuring costs - 460 (460 ) - $ - Total $ 236 $ 460 $ (646 ) $ - $ 50

Note 15 - Leases (Tables)

Note 15 - Leases (Tables)	6 Months Ended
	Dec. 31, 2019
Notes Tables
Lease, Cost [Table Text Block]	Three months ended Six months ended (In thousands) December 31, 2019 December 31, 2019 Operating lease cost $ 575 $ 1,162 Supplemental Cash Flow Information: Six months ended (In thousands) December 31, 2019 Operating cash flows from operating leases Fixed payments 1,139 Liability reduction 885 Operating Leases: At December 31, 2019 Total operating right-of-use asset (Other long-term assets) 9,504 Accrued liabilities (Current liabilities) 344 Long-term operating lease liability (Other long-term liabilities) 9,906 10,250 Weighted Average remaining Lease Term (in years) 5.05 Weighted Average Discount Rate 4.85 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Maturities of Lease Liability: 2020 1,404 2021 2,303 2022 2,279 2023 2,244 2024 1,917 Thereafter 1,679 Total lease payments 11,826 Less: Interest (1,579 ) Present Value of Lease Liabilities 10,247

Note 16 - Income Taxes (Tables)

Note 16 - Income Taxes (Tables)	6 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Three Months Ended Six Months Ended December 31 December 31 2019 2018 2019 2018 Reconciliation of effective tax rate: Provision for income taxes at the anticipated annual tax rate (2.6 %) 23.0 % 18.1 % 23.0 % Uncertain tax positions (5.5 ) 0.8 (0.7 ) 0.8 Difference between deferred and current tax rate related to the impairment of goodwill - 0.6 - 0.7 Shared-based compensation 0.3 - 3.5 (0.5 ) Other - - 0.8 - Effective tax rate (7.8 %) 24.4 % 21.7 % 24.0 %

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	Jul. 01, 2018	Mar. 31, 2020	Dec. 31, 2019	Jul. 01, 2019
Operating Lease, Right-of-Use Asset			$ 9,504,000
Operating Lease, Liability, Total			$ 10,247,000
Graphics Manufacturing Facility in North Canton, Ohio [Member] | Forecast [Member]
Proceeds from Divestiture of Businesses		$ 8,000,000
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		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Revenue	$ 82,377	$ 89,541	$ 171,078	$ 174,498
Lighting Segment [Member]
Revenue	53,436	63,654	116,627	125,086
Lighting Segment [Member] | LED Lighting, Digital Signage, Electronic Circuit Boards [Member]
Revenue	46,596		101,079
Lighting Segment [Member] | Legacy Products [Member]
Revenue	6,265		14,303
Lighting Segment [Member] | Turnkey Services and Other [Member]
Revenue	575		1,245
Graphics Segment [Member]
Revenue	28,941	$ 25,887	54,451	$ 49,412
Graphics Segment [Member] | LED Lighting, Digital Signage, Electronic Circuit Boards [Member]
Revenue	7,407		11,281
Graphics Segment [Member] | Legacy Products [Member]
Revenue	16,011		32,711
Graphics Segment [Member] | Turnkey Services and Other [Member]
Revenue	5,523		10,459
Transferred at Point in Time [Member] | Lighting Segment [Member]
Revenue	47,513		104,038
Transferred at Point in Time [Member] | Graphics Segment [Member]
Revenue	17,521		35,246
Transferred over Time [Member] | Lighting Segment [Member]
Revenue	5,923		12,589
Transferred over Time [Member] | Graphics Segment [Member]
Revenue	$ 11,420		$ 19,205

Note 2 - Summary of Significa_5

Note 2 - Summary of Significant Accounting Policies - New Accounting Pronouncements (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019	Jul. 01, 2018	Jun. 30, 2018
Accounts receivable, net	$ 44,532	$ 54,728	$ 55,544	$ 50,609
Inventories, net	43,311	43,512	46,827	50,994
Other long-term assets, net	22,537	15,124	9,609	9,786
Retained earnings	$ (2,661)	$ (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		6 Months Ended		12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 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%	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		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Net Sales	$ 82,377	$ 89,541	$ 171,078	$ 174,498
Operating income (loss)	1,760	(20,271)	8,599	(17,337)
Capital expenditures	764	931	1,119	1,579
Depreciation and amortization	2,152	2,592	4,551	5,235
Corporate and Eliminations [Member]
Operating income (loss)	(2,752)	(2,680)	(6,089)	(5,983)
Capital expenditures	162	94	187	200
Depreciation and amortization	117	243	352	501
Lighting Segment [Member]
Net Sales	53,436	63,654	116,627	125,086
Lighting Segment [Member] | Operating Segments [Member]
Operating income (loss)	3,150	(18,452)	12,309	(14,602)
Capital expenditures	557	588	887	864
Depreciation and amortization	1,661	1,952	3,439	3,942
Graphics Segment [Member]
Net Sales	28,941	25,887	54,451	49,412
Graphics Segment [Member] | Operating Segments [Member]
Operating income (loss)	1,362	861	2,379	3,248
Capital expenditures	45	249	45	515
Depreciation and amortization	$ 374	$ 397	$ 760	$ 792

Note 3 - Segment Reporting In_5

Note 3 - Segment Reporting Information - Identifiable Assets by Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Identifiable assets	$ 187,361	$ 201,100
Corporate and Eliminations [Member]
Identifiable assets	17,089	18,081
Lighting Segment [Member] | Operating Segments [Member]
Identifiable assets	130,446	142,105
Graphics Segment [Member] | Operating Segments [Member]
Identifiable assets	$ 39,826	$ 40,914

Note 3 - Segment Reporting In_6

Note 3 - Segment Reporting Information - Intersegment Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Inter-segment Revenues	$ 82,377	$ 89,541	$ 171,078	$ 174,498
Lighting Segment [Member]
Inter-segment Revenues	53,436	63,654	116,627	125,086
Graphics Segment [Member]
Inter-segment Revenues	28,941	25,887	54,451	49,412
Intersegment Eliminations [Member] | Lighting Segment [Member]
Inter-segment Revenues	860	870	1,671	1,279
Intersegment Eliminations [Member] | Graphics Segment [Member]
Inter-segment Revenues	$ 74	$ 44	$ 98	$ 75

Note 4 - Earnings Per Common _3

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		6 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
BASIC EARNINGS PER SHARE
Net income (loss)		$ 1,743	$ (15,782)	$ 6,218	$ (14,033)
Weighted average shares outstanding during the period, net of treasury shares (a) (in shares)	[1]	26,101	25,838	26,063	25,795
Weighted average vested restricted stock units outstanding (in shares)		140	212	163	220
Weighted average shares outstanding (in shares)		26,280	26,083	26,257	26,058
Basic income (loss) per share (in dollars per share)		$ 0.07	$ (0.61)	$ 0.24	$ (0.54)
Basic (in shares)		26,280	26,083	26,257	26,058
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any (in shares)	[2]	254		107
Weighted average shares outstanding (in shares)	[2]	26,534	26,083	26,364	26,058
Diluted income (loss) per share (in dollars per share)		$ 0.07	$ (0.61)	$ 0.24	$ (0.54)
Anti-dilutive securities (c) (in shares)	[3]	1,904	3,537	2,506	3,356
Restricted Stock Units (RSUs) [Member]
BASIC EARNINGS PER SHARE
Weighted average vested restricted stock units outstanding (in shares)		39	33	31	43
[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]	Anti-dilutive securities were excluded from the computation of diluted net income per share for the three and six months ended December 31, 2019 because the exercise price was greater than the average fair market price of the common shares or because the assumed proceeds from the award's exercise or vesting was greater than the average fair market price of the common shares. For the three and six months ended December 31, 2018, the effect of dilutive securities was not included in the calculation of diluted loss per share because there was a net loss for the period.

Note 5 - Inventories - Inventor

Note 5 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019	Jul. 01, 2018	Jun. 30, 2018
Inventories:
Raw materials	$ 29,685	$ 27,927
Work-in-progress	1,742	2,193
Finished goods	11,884	13,392
Total Inventories	$ 43,311	$ 43,512	$ 46,827	$ 50,994

Note 6 - Accrued Expenses - Acc

Note 6 - Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Accrued Expenses:
Compensation and benefits	$ 5,493	$ 5,319
Customer prepayments	1,413	1,768
Accrued sales commissions	1,198	1,301
Accrued warranty	7,601	7,687
Other accrued expenses	5,468	5,136
Total Accrued Expenses	$ 21,173	$ 21,211

Note 7 - Goodwill and Other I_3

Note 7 - Goodwill and Other Intangible Assets (Details Textual)	6 Months Ended
	Dec. 31, 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	Dec. 31, 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	Dec. 31, 2019	Jun. 30, 2019
Amortized intangible assets, gross	$ 54,625	$ 54,625
Accumulated amortization	26,746	25,400
Amortized intangible assets, net	27,879	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	31,301	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	13,100	12,070
Amortized intangible assets, net	22,463	23,493
Patents [Member]
Amortized intangible assets, gross	338	338
Accumulated amortization	262	247
Amortized intangible assets, net	76	91
Technology-Based Intangible Assets [Member]
Amortized intangible assets, gross	16,066
Accumulated amortization	12,610
Amortized intangible assets, net	3,456
LED Technology Firmware Software [Member]
Amortized intangible assets, gross		16,066
Accumulated amortization		12,364
Amortized intangible assets, net		$ 3,702
Trade Names [Member]
Amortized intangible assets, gross	2,658
Accumulated amortization	774
Amortized intangible assets, net	$ 1,884

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		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Amortization Expense of Other Intangible Assets	$ 671	$ 689	$ 1,346	$ 1,380

Note 7 - Goodwill and Other I_7

Note 7 - Goodwill and Other Intangible Assets - Future Amortization Expense (Details) $ in Thousands	Dec. 31, 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 (Details Textual) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	6 Months Ended
	Feb. 28, 2019	Dec. 31, 2019	Dec. 31, 2019	Feb. 27, 2019
Long-term Line of Credit, Total		$ 10.4	$ 10.4
Line of Credit Facility, Remaining Borrowing Capacity		$ 64.6	$ 64.6
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		1.75%
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 ($)	Feb. 01, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2020
Payments of Dividends, Total		$ 2,643,000	$ 2,587,000
Dividends Accrued		$ 52,383	$ 34,631
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	Feb. 26, 2020
Dividends Payable, Date of Record	Feb. 18, 2020

Note 10 - Equity Compensation (

Note 10 - Equity Compensation (Details Textual)	1 Months Ended	3 Months Ended			6 Months Ended
	Nov. 30, 2019shares	Dec. 31, 2019USD ($)shares	Sep. 30, 2019$ / sharesshares	Dec. 31, 2018USD ($)	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)
Share-based Payment Arrangement, Expense | $		$ 199,000		$ 176,000	$ 597,000	$ 727,000
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		3,802,363			3,802,363
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			199,310
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
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			81,917
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
The 2012 Stock Incentive Plan [Member]
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	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash Payments:
Interest	$ 742	$ 1,133
Income taxes		3
Issuance of common shares as compensation	150	180
Issuance of common shares to fund deferred compensation plan	$ 47	$ 189

Note 12 - Commitments and Con_2

Note 12 - Commitments and Contingencies (Details Textual) $ in Thousands	Dec. 31, 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]	Dec. 31, 2019USD ($)
Postemployment Benefits Liability, Total	$ 861,000
Postemployment Benefits Liability, Current	601,000
Postemployment Benefits Liability, Noncurrent	$ 260,000

Note 13 - Severance Costs - Acc

Note 13 - Severance Costs - Accrued Severance Liability Activity (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2019
Balance	$ 1,134	$ 1,772	$ 1,772
Accrual of expense	46	492	560
Payments	(319)	(549)	(1,198)
Balance	$ 861	$ 1,715	$ 1,134

Note 14 - Restructuring Costs_2

Note 14 - Restructuring Costs (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Proceeds from Sale of Property, Plant, and Equipment, Total			$ 12,340,000	$ 10,000
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	$ 276,000		$ 509,000

Note 14 - Restructuring Costs -

Note 14 - Restructuring Costs - Summary of Restructuring Costs for the Period (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Severance benefits		$ 202		$ 221
Impairment of fixed assets and accelerated depreciation		185	49	228
Facility repairs		7		47
Gain on sale of facility			(4,821)
Exit costs		7	184	60
Manufacturing realignment costs	276		276
Total	$ 276	$ 401	$ (4,312)	$ 556

Note 14 - Restructuring Costs_3

Note 14 - Restructuring Costs - Liability Balances Related to Restructuring Costs (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2019USD ($)
Balance, beginning	$ 236
Restructuring Expense	460
Payments	(646)
Adjustments	0
Balance, ending	50
Severance and Other Termination Benefits [Member]
Balance, beginning	236
Restructuring Expense
Payments	(186)
Adjustments	0
Balance, ending	50
Other Restructuring [Member]
Balance, beginning	0
Restructuring Expense	460
Payments	(460)
Adjustments	0
Balance, ending

Note 15 - Leases (Details Textu

Note 15 - Leases (Details Textual) - USD ($)	Dec. 31, 2019	Jul. 01, 2019
Operating Lease, Weighted Average Remaining Lease Term	5 years 18 days
Operating Lease, Right-of-Use Asset	$ 9,504,000
Operating Lease, Liability, Total	$ 10,247,000
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	6 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Operating lease cost	$ 575	$ 1,162
Fixed payments		1,139
Liability reduction		885
Operating Lease, Right-of-Use Asset	9,504	9,504
Accrued liabilities (Current liabilities)	344	344
Long-term operating lease liability (Other long-term liabilities)	9,906	9,906
Operating Lease, Liability, Total	$ 10,247	$ 10,247
Weighted Average remaining Lease Term (in years) (Year)	5 years 18 days	5 years 18 days
Weighted Average Discount Rate	4.85%	4.85%

Note 15 - Leases - Maturities o

Note 15 - Leases - Maturities of Lease Liability (Details) $ in Thousands	Dec. 31, 2019USD ($)
2020	$ 1,404
2021	2,303
2022	2,279
2023	2,244
2024	1,917
Thereafter	1,679
Total lease payments	11,826
Less: Interest	(1,579)
Present Value of Lease Liabilities	$ 10,247

Note 16 - Income Taxes (Details

Note 16 - Income Taxes (Details Textual) - USD ($)	3 Months Ended
	Sep. 30, 2019	Dec. 31, 2019
Gain (Loss) on Disposition of Property Plant Equipment, Total	$ 4,800,000
Deferred Tax Assets, Property, Plant and Equipment	$ 864,000
Deferred Tax Assets, Goodwill and Intangible Assets		$ 4,800,000

Note 16 - Income Taxes - Reconc

Note 16 - Income Taxes - Reconciliation of Income Tax Rate (Details)	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Provision for income taxes at the anticipated annual tax rate	(2.60%)	23.00%	18.10%	23.00%
Uncertain tax positions	(5.50%)	0.80%	(0.70%)	0.80%
Difference between deferred and current tax rate related to the impairment of goodwill		0.60%		0.70%
Shared-based compensation	0.30%		3.50%	(0.50%)
Other			0.80%
Effective tax rate	(7.80%)	24.40%	21.70%	24.00%