LSI Industries (LYTS) 10-Q 4 Nov 22 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Sep. 30, 2022	Oct. 28, 2022
Document Information [Line Items]
Entity Central Index Key	0000763532
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	0-13375
Entity Registrant Name	LSI Industries Inc.
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	31-0888951
Entity Address, Address Line One	10000 Alliance Road
Entity Address, City or Town	Cincinnati
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45242
City Area Code	513
Local Phone Number	793-3200
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	LYTS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		27,777,410

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Net Sales	$ 127,069	$ 106,397
Cost of products and services sold	92,319	81,887
Restructuring costs	12	0
Gross profit	34,738	24,510
Selling and administrative expenses	24,717	20,066
Operating income	10,021	4,444
Interest expense	788	234
Other expense	(213)	(79)
Income before income taxes	9,020	4,131
Income tax expense	2,758	998
Net income	$ 6,262	$ 3,133
Earnings per common share (see Note 4)
Earnings Per Share, Basic, Total (in dollars per share)	$ 0.23	$ 0.12
Diluted (in dollars per share)	$ 0.22	$ 0.11
Weighted average common shares outstanding
Basic (in shares)	27,641	26,996
Diluted (in shares)	28,664	27,743

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Net Income	$ 6,262	$ 3,133
Foreign currency translation adjustment	7	(44)
Comprehensive Income	$ 6,269	$ 3,089

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
LIABILITIES & SHAREHOLDERS' EQUITY
Cash and cash equivalents	$ 9,028	$ 2,462
Current maturities of long-term debt	3,571	3,571
Accounts receivable, less allowance for credit losses of $508 and $499, respectively	75,449	77,750
Accounts payable	41,133	34,783
Inventories	80,457	74,421
Accrued expenses	35,231	36,264
Refundable income taxes	1,118	1,041
Total current liabilities	79,935	74,618
Other current assets	4,355	3,243
Long-term debt	73,975	76,025
Total current assets	170,407	158,917
Finance lease liabilities	1,174	1,246
Operating lease liabilities	7,381	8,240
Other long-term liabilities	3,307	3,182
Commitments and contingencies (Note 12)
Property, Plant and Equipment, at cost
Operating lease liabilities	7,381	8,240
Land	4,010	4,010
Other long-term liabilities	3,307	3,182
Buildings	24,469	24,495
Commitments and contingencies (Note 12)
Machinery and equipment	67,115	66,762
Shareholders' Equity
Buildings under finance leases	2,033	2,033
Preferred shares, without par value; Authorized 1,000,000 shares, none issued	0	0
Construction in progress	563	618
Common shares, without par value; Authorized 40,000,000 shares; Outstanding 27,777,410 and 27,484,514 shares, respectively	140,599	139,500
Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, before Accumulated Depreciation and Amortization	98,190	97,918
Treasury shares, without par value	(6,439)	(5,927)
Less accumulated depreciation	(71,913)	(70,760)
Deferred compensation plan	6,439	5,927
Net property, plant and equipment	26,277	27,158
Retained Earnings (Accumulated Deficit), Total	13,078	8,224
Goodwill	45,030	45,030
Accumulated other comprehensive income	52	45
Other intangible assets, net	66,774	67,964
Total shareholders' equity	153,729	147,769
Operating lease right-of-use assets	7,826	8,664
Total liabilities & shareholders' equity	319,501	311,080
Other long-term assets, net	3,187	3,347
Total assets	$ 319,501	$ 311,080

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Accounts Receivable, Allowance for Credit Loss, Current	$ 508	$ 499
Preferred Stock, No Par Value (in dollars per share)	$ 0	$ 0
Preferred Stock, Shares Authorized (in shares)	1,000,000	1,000,000
Preferred Stock, Shares Issued (in shares)	0	0
Common Stock, No Par Value (in dollars per share)		$ 0
Common Stock, Shares Authorized (in shares)	40,000,000	40,000,000
Common Stock, Shares, Outstanding, Ending Balance (in shares)	27,777,410	27,484,514

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($)	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, 2021	26,863	(346)
Balance at Jun. 30, 2021	$ 132,526,000	$ (2,450,000)	$ 2,450,000	$ 49,000	$ (1,405,000)	$ 131,170,000
Net Income	0	0	0	0	3,133,000	3,133,000
Other comprehensive income	$ 0	$ 0	0	(44,000)	0	(44,000)
Stock compensation awards (in shares)	10	0
Stock compensation awards	$ 75,000	$ 0	0	0	0	75,000
Restricted stock units issued, net of shares withheld for tax withholdings (in shares)	79	0
Restricted stock units issued, net of shares withheld for tax withholdings	$ (247,000)	$ 0	0	0	0	(247,000)
Shares issued for deferred compensation (in shares)	263	0
Shares issued for deferred compensation	$ 2,042,000	$ 0	0	0	0	2,042,000
Activity of treasury shares, net (in shares)		(261)
Activity of treasury shares, net	0	$ (2,021,000)	0	0	0	(2,021,000)
Deferred stock compensation	0	0	2,021,000	0	0	2,021,000
Stock compensation expense	$ 556,000	0	0	0	0	556,000
Stock options exercised, net (in shares)	3
Stock options exercised, net	$ 16,000	0	0	0	0	16,000
Dividends	$ 0	$ 0	0	0	(1,328,000)	(1,328,000)
Balance (in shares) at Sep. 30, 2021	27,218	(607)
Balance at Sep. 30, 2021	$ 134,968,000	$ (4,471,000)	4,471,000	5,000	400,000	135,373,000
Balance (in shares) at Jun. 30, 2022	27,484,000	(822,000)
Balance at Jun. 30, 2022	$ 139,500,000	$ (5,927,000)	5,927,000	45,000	8,224,000	147,769,000
Net Income	0	0	0	0	6,262,000	6,262,000
Other comprehensive income	$ 0	$ 0	0	7,000	0	7,000
Stock compensation awards (in shares)	12,000	0
Stock compensation awards	$ 75,000	$ 0	0	0	0	75,000
Restricted Stock, Shares Issued Net of Shares for Tax Withholdings (in shares)	201	0
Restricted Stock, Value, Shares Issued Net of Tax Withholdings	$ (66)	$ 0	0	0	0	(66,000)
Shares issued for deferred compensation (in shares)	80,000	0
Shares issued for deferred compensation	$ 539,000	$ 0	0	0	0	539,000
Activity of treasury shares, net (in shares)	0	(77,000)
Activity of treasury shares, net	$ 0	$ (512,000)	0	0	0	(512,000)
Deferred stock compensation	0	0	512,000	0	0	512,000
Stock compensation expense	551,000	0	0	0	0	551,000
Stock options exercised, net	0	0	0	0	0	0
Dividends	$ 0	$ 0	0	0	(1,408,000)	(1,408,000)
Balance (in shares) at Sep. 30, 2022	27,777,000	(899,000)
Balance at Sep. 30, 2022	$ 140,599,000	$ (6,439,000)	$ 6,439,000	$ 52,000	$ 13,078,000	$ 153,729,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Common Stock, Dividends, Per Share, Cash Paid (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, 2022	Sep. 30, 2021
Cash Flows from Operating Activities
Net Income	$ 6,262	$ 3,133
Non-cash items included in net income
Depreciation and amortization	2,421	2,563
Deferred income taxes	350	(13)
Deferred compensation plan	539	2,042
Stock compensation expense	551	556
Issuance of common shares as compensation	75	75
Loss on disposition of fixed assets	2	14
Allowance for doubtful accounts	8	10
Inventory obsolescence reserve	250	572
Changes in certain assets and liabilities
Accounts receivable	2,293	(6,260)
Inventories	(6,286)	(9,578)
Refundable income taxes	(77)	138
Accounts payable	6,350	8,359
Accrued expenses and other	(1,943)	(6,663)
Customer prepayments	(212)	(2,837)
Net cash flows provided by (used in) operating activities	10,583	(7,889)
Cash Flows from Investing Activities
Purchases of property, plant and equipment	(434)	(297)
Net cash flows (used in) investing activities	(434)	(297)
Cash Flows from Financing Activities
Payments of long-term debt	(47,123)	(42,533)
Borrowings of long-term debt	45,073	52,659
Cash dividends paid	(1,408)	(1,326)
Shares withheld for employees' taxes	(66)	(247)
Payments on financing lease obligations	(66)	(64)
Proceeds from stock option exercises	0	16
Net cash flows (used in) provided by financing activities	(3,590)	8,505
Change related to foreign currency	7	(31)
Increase in cash and cash equivalents	6,566	288
Cash and cash equivalents at beginning of period	2,462	2,282
Cash and cash equivalents at end of period	$ 9,028	$ 2,570

Note 1 - Interim Condensed Cons

Note 1 - Interim Condensed Consolidated Financial Statements	3 Months Ended
	Sep. 30, 2022
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, 2022, the results of its operations for the three-month periods ended September 30, 2022, and 2021, and its cash flows for the three-month periods ended September 30, 2022, and 2021. These statements should be read in conjunction with the financial statements and footnotes included in the fiscal 2022 Annual Report on Form 10-K. Financial information as of June 30, 2022, has been derived from the Company’s audited consolidated financial statements.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2022
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 to the audited consolidated financial statements of the Company’s fiscal 2022 Annual Report on Form 10-K. 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 to 90 days from the shipping date, depending on the terms with the customer. The Company offers standard warranties that do not represent separate performance obligations. Installation is a separate performance obligation, except for the Company’s digital signage products. For digital signage products, installation is not a separate performance obligation as the product and installation is the combined item promised in digital signage contracts. The Company is not always responsible for installation of products it sells and has no post-installation responsibilities other than standard warranties. A number of the Company's display solutions and select lighting products are customized for specific customers. As a result, these customized products do not have an alternative use. For these products, the Company has a legal right to payment for performance to date and generally does not accept returns on these items. The measurement of performance is based upon cost plus a reasonable profit margin for work completed. Because there is no alternative use and there is a legal right to payment, the Company transfers control of the item as the item is being produced and therefore, recognizes revenue over time. The customized product types are as follows: ● Customer specific branded print graphics ● Electrical components based on customer specifications ● Digital signage and related media content The Company also offers installation services for its display solutions elements and select lighting products. Installation revenue is recognized over time as the 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 performance obligation. On occasion, the Company enters into bill-and-hold arrangements on a limited basis. Each bill-and-hold arrangement is reviewed and revenue is recognized only when certain criteria have been met: (1) the customer has requested delayed delivery and storage of the products by the Company because the customer wants to secure a supply of the products but lacks storage space; (ii) the risk of ownership has passed to the customer; (iii) the products are segregated from the Company’s other inventory items held for sale; (iv) the products are ready for shipment to the customer; and (v) the Company does not have the ability to use the products or direct them to another customer. 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 below presents a reconciliation of the disaggregation by reportable segments: Three Months Ended (In thousands) September 30, 2022 September 30, 2021 Lighting Segment Display Solutions Segment Lighting Segment Display Solutions Segment Timing of revenue recognition Products and services transferred at a point in time $ 58,077 $ 47,489 $ 44,582 $ 37,431 Products and services transferred over time 9,456 12,047 6,678 17,706 $ 67,533 $ 59,536 $ 51,260 $ 55,137 Three Months Ended September 30, 2022 September 30, 2021 Lighting Segment Display Solutions Segment Lighting Segment Display Solutions Segment Type of Product and Services LED lighting, digital signage solutions, electronic circuit boards $ 55,535 $ 7,175 $ 41,879 $ 12,428 Poles, other display solution elements 11,129 41,471 8,966 33,302 Project management, installation services, shipping and handling 869 10,890 415 9,407 $ 67,533 $ 59,536 $ 51,260 $ 55,137 Practical Expedients and Exemptions ● The Company’s contracts with customers have an expected duration of one year or less, as such, the Company applies the practical expedient to expense sales commissions as incurred and has omitted disclosures on the amount of remaining performance obligations. ● Shipping costs that are not material in context of the delivery of products are expensed as incurred. ● 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 to 90 days of completion of the performance obligation and invoicing; therefore, payments do not contain significant financing components. ● 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: In October 2021, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers,” creating an exception to the recognition and measurement principles in ASC 805. The amendment requires that entities apply ASC 606, “Revenue from Contracts with Customers,” rather than using fair value, to recognize and measure contracts assets and contract liabilities from contracts with customers acquired in a business combination. The ASU is effective for fiscal years beginning after December 15, 2022, and interim periods therein. Early adoption is permitted, including adoption in an interim period, regardless of whether a business combination occurs in that period. The guidance should be applied prospectively; however, an entity that elects to early adopt in an interim period should apply the amendments to all business combinations that occurred during the fiscal year that includes that interim period. The Company is evaluating the impact this guidance may have on its consolidated financial statements and related disclosures. In December 2019, the Financial Accounting Standards Board ("FASB") issued ASU 2019-12, "Income Taxes - Simplifying the Accounting for Income Taxes (Topic 740)." This guidance removes certain exceptions to the general principles in ASC 740 such as recognizing deferred taxes for equity investments, the incremental approach to performing intra-period tax allocation and calculating income taxes in interim periods. The standard also simplifies accounting for income taxes under U.S. GAAP by clarifying and amending existing guidance, including the recognition of deferred taxes for goodwill, the allocation of taxes to members of a consolidated group and requiring that an entity reflect the effect of enacted changes in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. The Company adopted ASC 2019-12 effective July 1, 2021, which did not have a material impact on its consolidated financial statements or disclosures.

Note 3 - Segment Reporting Info

Note 3 - Segment Reporting Information	3 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 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 The Lighting Segment includes non-residential outdoor and indoor lighting fixtures utilizing LED light sources that have been fabricated and assembled for the Company’s markets, primarily the refueling and convenience store markets, parking lot and garage markets, quick-service restaurant market, retail and grocery store markets, the automotive market, the warehouse market, and the sports court and field market. The Company also offers a variety of lighting controls to complement its lighting fixtures which include sensors, photocontrols, dimmers, motion detection and Bluetooth systems. The Company also services lighting product customers through the commercial and industrial project, stock and flow, and renovation channels. The Lighting Segment also includes the design, engineering and manufacturing of electronic circuit boards, assemblies and sub-assemblies which are sold directly to customers. The Display Solutions Segment manufactures, sells and installs exterior and interior visual image and display elements, including printed graphics, structural graphics, digital signage, menu board systems, display fixtures, refrigerated displays, and custom display elements. These products are used in visual image programs in several markets including the refueling and convenience store markets, parking lot and garage markets, quick-service restaurant market, retail and grocery store markets, the automotive market, the warehouse market, and the sports court and field market. The Display Solutions Segment also provides a variety of project management services to complement our display elements, such as installation management, site surveys, permitting, and content management which are offered to our customers to support our digital signage. 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 were no One One Summarized financial information for the Company’s operating segments is provided for the indicated periods and as of September 30, 2022, and September 30, 2021: Three Months Ended (In thousands) September 30 2022 2021 Net Sales: Lighting Segment $ 67,533 $ 51,260 Display Solutions Segment 59,536 55,137 $ 127,069 $ 106,397 Operating Income (Loss): Lighting Segment $ 9,158 $ 4,339 Display Solutions Segment 6,496 3,749 Corporate and Eliminations (5,633 ) (3,644 ) $ 10,021 $ 4,444 Capital Expenditures: Lighting Segment $ 249 $ 180 Display Solutions Segment 162 221 Corporate and Eliminations 23 (104 ) $ 434 $ 297 Depreciation and Amortization: Lighting Segment $ 1,387 $ 1,461 Display Solutions Segment 974 1,031 Corporate and Eliminations 60 71 $ 2,421 $ 2,563 September 30, 2022 June 30, 2022 Total Assets: Lighting Segment $ 151,856 $ 152,431 Display Solutions Segment 160,099 152,302 Corporate and Eliminations 7,546 6,347 $ 319,501 $ 311,080 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% mark-up on intersegment revenues. Any intersegment profit in inventory is eliminated in consolidation. Intersegment revenues were eliminated in consolidation as follows: Inter-segment sales Three Months Ended (In thousands) September 30 2022 2021 Lighting Segment inter-segment net sales $ 6,143 $ 10,457 Display Solutions Segment inter-segment net sales $ 66 $ 163 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	3 Months Ended
	Sep. 30, 2022
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 2022 2021 BASIC EARNINGS PER SHARE Net income $ 6,262 $ 3,133 Weighted average shares outstanding during the period, net of treasury shares 26,730 26,553 Weighted average vested restricted stock units outstanding 46 17 Weighted average shares outstanding in the Deferred Compensation Plan during the period 865 426 Weighted average shares outstanding 27,641 26,996 Basic earnings per common share $ 0.23 $ 0.12 DILUTED EARNINGS PER SHARE Net income $ 6,262 $ 3,133 Weighted average shares outstanding: Basic 27,641 26,996 Effect of dilutive securities (a): Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any 1,023 747 Weighted average shares outstanding 28,664 27,743 Diluted earnings per common share $ 0.22 $ 0.11 Anti-dilutive securities (b) 213 989 (a) 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. (b) Anti-dilutive securities were excluded from the computation of diluted net income per share for the three months ended September 30, 2022, and September 30, 2021, 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.

Note 5 - Inventories, Net

Note 5 - Inventories, Net	3 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 5 INVENTORIES, NET The following information is provided as of the dates indicated: September 30, June 30, (In thousands) 2022 2022 Inventories: Raw materials $ 53,962 $ 51,637 Work-in-progress 6,156 3,029 Finished goods 20,339 19,755 Total Inventories $ 80,457 $ 74,421

Note 6 - Accrued Expenses

Note 6 - Accrued Expenses	3 Months Ended
	Sep. 30, 2022
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) 2022 2022 Accrued Expenses: Customer prepayments $ 6,204 $ 6,416 Compensation and benefits 8,752 9,611 Accrued warranty 4,319 4,491 Operating lease liabilities 1,187 1,274 Accrued sales commissions 2,506 4,783 Accrued Freight 4,139 3,680 Accrued FICA 1,161 1,122 Finance lease liabilities 280 275 Accrued income tax 1,835 109 Other accrued expenses 4,848 4,503 Total Accrued Expenses $ 35,231 $ 36,264

Note 7 - Goodwill and Other Int

Note 7 - Goodwill and Other Intangible Assets	3 Months Ended
	Sep. 30, 2022
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 assess qualitative factors in order to determine if goodwill and indefinite-lived intangible assets are impaired. If through the qualitative assessment it is determined that it is more likely than not that goodwill and indefinite-lived assets are not impaired, no further testing is required. If it is determined more likely than not that goodwill and indefinite-lived assets are impaired, or if the Company elects not to first assess qualitative factors, the Company’s impairment testing continues with the estimation of the fair value of the reporting unit using a combination of a market approach and an income (discounted cash flow) approach, at the reporting unit level. The estimation of the fair value of reporting unit requires significant management judgment with respect to revenue and expense growth rates, changes in working capital and the selection and use of an appropriate discount rate. The estimates of the fair value of reporting units are based on the best information available as of the date of the assessment. The use of different assumptions would increase or decrease estimated discounted future operating cash flows and could increase or decrease an impairment charge. Company management uses its judgment in assessing whether assets may have become impaired between annual impairment tests. Indicators such as adverse business conditions, economic factors and technological change or competitive activities may signal that an asset has become impaired. The Company identified its reporting units in conjunction with its annual goodwill impairment testing. The Company has a total of three One two The following table presents information about the Company's goodwill on the dates or for the periods indicated: Goodwill (In thousands) Display Lighting Solutions Segment Segment Total Balance as of September 30, 2022 Goodwill $ 70,971 $ 63,347 $ 134,318 Accumulated impairment losses (61,763 ) (27,525 ) (89,288 ) Goodwill, net as of September 30, 2022 $ 9,208 $ 35,822 $ 45,030 Balance as of June 30, 2022 Goodwill $ 70,971 $ 63,347 $ 134,318 Accumulated impairment losses (61,763 ) (27,525 ) (89,288 ) Goodwill, net as of June 30, 2022 $ 9,208 $ 35,822 $ 45,030 The gross carrying amount and accumulated amortization by each major intangible asset class is as follows: Other Intangible Assets September 30, 2022 (In thousands) Gross Carrying Accumulated Net Amount Amortization Amount Amortized Intangible Assets Customer relationships $ 62,083 $ 15,254 $ 46,829 Patents 268 268 - LED technology firmware, software 20,966 14,895 6,071 Trade name 2,658 1,075 1,583 Non-compete 260 71 189 Total Amortized Intangible Assets 86,235 31,563 54,672 Indefinite-lived Intangible Assets Trademarks and trade names 12,102 - 12,102 Total indefinite-lived Intangible Assets 12,102 - 12,102 Total Other Intangible Assets $ 98,337 $ 31,563 $ 66,774 Other Intangible Assets June 30, 2022 (In thousands) Gross Carrying Accumulated Net Amount Amortization Amount Amortized Intangible Assets Customer relationships $ 62,083 $ 14,400 $ 47,683 Patents 268 268 - LED technology firmware, software 20,966 14,598 6,368 Trade name 2,658 1,049 1,609 Non-compete 260 58 202 Total Amortized Intangible Assets 86,235 30,373 55,862 Indefinite-lived Intangible Assets Trademarks and trade names 12,102 - 12,102 Total indefinite-lived Intangible Assets 12,102 - 12,102 Total Other Intangible Assets $ 98,337 $ 30,373 $ 67,964 Three Months Ended September 30 (In thousands) 2022 2021 Amortization Expense of Other Intangible Assets $ 1,190 $ 1,215 The Company expects to record annual amortization expense as follows: (In thousands) 2023 $ 3,618 2024 4,760 2025 4,760 2026 4,760 2027 4,754 After 2027 32,020

Note 8 - Debt

Note 8 - Debt	3 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 8 - DEBT The Company’s long-term debt as of September 30, 2022, and June 30, 2022, consisted of the following: September 30, June 30, (In thousands) 2022 2022 Secured line of credit $ 56,144 $ 57,275 Term loan, net of debt issuance costs of $26 and $ 30, 21,402 22,321 Total debt 77,546 79,596 Less: amounts due within one year 3,571 3,571 Total amounts due after one year, net $ 73,975 $ 76,025 In September 2021, the Company amended its existing $100 million secured line of credit, to a $25 million term loan and $75 million remaining as a secured revolving line of credit. Both facilities expire in the third quarter of fiscal 2026. The principal of the term loan is repaid annually in the amount of $3.6 million over a five-year 4.8% The Company is in compliance with all of its loan covenants as of September 30, 2022.

Note 9 - Cash Dividends

Note 9 - Cash Dividends	3 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 9 - CASH DIVIDENDS The Company paid cash dividends of $1.4 million and $1.3 million in both the three months ended September 30, 2022, and September 30, 2021, respectively. Dividends on restricted stock units in the amount of $0.2 million and $0.1 million were accrued as of both September 30, 2022, and 2021, respectively. These dividends will be paid upon the vesting of the restricted stock and performance stock units when shares are issued to the award recipients. In November 2022, the Board of Directors declared a regular quarterly cash dividend of $0.05 per share payable November 22, 2022, to shareholders of record as of November 14, 2022. The indicated annual cash dividend rate is $0.20 per share.

Note 10 - Equity Compensation

Note 10 - Equity Compensation	3 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	NOTE 10 EQUITY COMPENSATION In November 2022, the Company’s shareholders approved an amendment to the 2019 Omnibus Award Plan (“2019 Omnibus Plan”) which increased the number of shares authorized for issuance under the plan by 2,350,000 and to remove the Plan’s fungible share counting feature. The purpose of the 2019 Omnibus Plan is to provide a means through which the Company may attract and retain key personnel and to provide a means by which directors, officers, and employees can acquire and maintain an equity interest in the Company. The number of shares that remain reserved for issuance under the 2019 Omnibus Plan prior to the amendment of the Plan equates to 1,253,908 as of September 30, 2022. The 2019 Omnibus Plan allows for the grant of stock options, stock appreciation rights, restricted stock awards, restricted stock units (“RSUs”), performance stock units (“PSUs”) and other stock-based awards. In the three months ended September 30, 2022, the Company granted 164,348 PSU’s and 196,522 RSU’s, both with a weighted average market value of $6.90. Stock compensation expense was $0.6 million for both the three months ended September 30, 2022, and 2021.

Note 11 - Supplemental Cash Flo

Note 11 - Supplemental Cash Flow Information	3 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	NOTE 11 - SUPPLEMENTAL CASH FLOW INFORMATION Three Months Ended (In thousands) September 30 2022 2021 Cash Payments: Interest $ 679 $ 203 Income taxes $ 664 $ 1,183 Non-cash investing and financing activities Issuance of common shares as compensation $ 75 $ 75 Issuance of common shares to fund deferred compensation plan $ 539 $ 2,042

Note 12 - Commitments and Conti

Note 12 - Commitments and Contingencies	3 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 12 - 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 disclose a range of potential loss because the likelihood of such a loss is remote. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on the Company’s financial position, results of operations, cash flows or liquidity. The Company may occasionally issue a standby letter of credit in favor of third parties. As of September 30, 2022, there were no such standby letters of credit issued.

Note 13 - Leases

Note 13 - Leases	3 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Lessee, Leases [Text Block]	NOTE 13 - LEASES The Company leases certain manufacturing facilities along with a small office space, several forklifts, several small tooling items, and various items of office equipment. The Company also acquired buildings, machinery, and forklift leases with the acquisition of JSI, as well as one sublease. All but two of the Company’s leases are operating leases. Leases have a remaining term of one seven The Company has periodically entered into short-term operating leases with an initial term of twelve months or less. The Company elected not to record these leases on the balance sheet. For the three months ended September 30, 2022, and 2021, the rent expense for these leases is immaterial. 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. Three Months Ended September 30 (In thousands) 2022 2021 Operating lease cost $ 863 $ 879 Financing lease cost: Amortization of right of use assets 74 74 Interest on lease liabilities 18 21 Variable lease cost 22 22 Sublease income (116 ) (94 ) Total lease cost $ 861 $ 902 Supplemental Cash Flow Information: Three Months Ended September 30 (In thousands) 2022 2021 Cash flows from operating leases Fixed payments - operating cash flows $ 885 $ 887 Liability reduction - operating cash flows $ 779 $ 744 Cash flows from finance leases Interest - operating cash flows $ 18 $ 21 Repayments of principal portion - financing cash flows $ 66 $ 64 Operating Leases: September 30, June 30, 2022 2022 Total operating right-of-use assets $ 7,826 $ 8,664 Accrued expenses (Current liabilities) $ 1,187 $ 1,274 Long-term operating lease liability 7,381 8,240 Total operating lease liabilities $ 8,568 $ 9,514 Weighted Average remaining Lease Term (in years) 2.83 3.05 Weighted Average Discount Rate 4.82 % 4.81 % Finance Leases: September 30, June 30, 2022 2022 Buildings under finance leases $ 2,033 $ 2,033 Equipment under finance leases 30 30 Accumulated depreciation (719 ) (634 ) Total finance lease assets, net $ 1,344 $ 1,429 Accrued expenses (Current liabilities) $ 280 $ 275 Long-term finance lease liability 1,174 1,246 Total finance lease liabilities $ 1,454 $ 1,521 Weighted Average remaining Lease Term (in years) 4.54 4.80 Weighted Average Discount Rate 4.86 % 4.86 % Maturities of Lease Liability: Operating Lease Liabilities Finance Lease Liabilities Operating Subleases Net Lease Commitments 2023 $ 2,792 $ 275 $ 377 $ 3,444 2024 3,285 337 377 3,999 2025 2,136 362 31 2,529 2026 835 362 - 1,197 2027 215 303 - 518 Thereafter 4 - - 4 Total lease payments $ 9,267 $ 1,639 $ 785 $ 11,691 Less: Interest (699 ) (185 ) (884 ) Present Value of Lease Liabilities $ 8,568 $ 1,454 $ 10,807

Note 16 - Income Taxes

Note 16 - Income Taxes	3 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 16 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. Three Months Ended September 30 2022 2021 Reconciliation of effective tax rate: Provision for income taxes at the anticipated annual tax rate 26.20 % 24.2 % Uncertain tax positions 1.0 0.8 Deferred Income Tax Adjustment 1.6 - Share-based compensation 1.8 (0.8 ) Effective tax rate 30.6 % 24.2 %

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Consolidation:
Revenue [Policy Text Block]	Revenue Recognition: ● Customer specific branded print graphics ● Electrical components based on customer specifications ● Digital signage and related media content Disaggregation of Revenue Three Months Ended (In thousands) September 30, 2022 September 30, 2021 Lighting Segment Display Solutions Segment Lighting Segment Display Solutions Segment Timing of revenue recognition Products and services transferred at a point in time $ 58,077 $ 47,489 $ 44,582 $ 37,431 Products and services transferred over time 9,456 12,047 6,678 17,706 $ 67,533 $ 59,536 $ 51,260 $ 55,137 Three Months Ended September 30, 2022 September 30, 2021 Lighting Segment Display Solutions Segment Lighting Segment Display Solutions Segment Type of Product and Services LED lighting, digital signage solutions, electronic circuit boards $ 55,535 $ 7,175 $ 41,879 $ 12,428 Poles, other display solution elements 11,129 41,471 8,966 33,302 Project management, installation services, shipping and handling 869 10,890 415 9,407 $ 67,533 $ 59,536 $ 51,260 $ 55,137 Practical Expedients and Exemptions
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements:

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Sep. 30, 2022
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended (In thousands) September 30, 2022 September 30, 2021 Lighting Segment Display Solutions Segment Lighting Segment Display Solutions Segment Timing of revenue recognition Products and services transferred at a point in time $ 58,077 $ 47,489 $ 44,582 $ 37,431 Products and services transferred over time 9,456 12,047 6,678 17,706 $ 67,533 $ 59,536 $ 51,260 $ 55,137 Three Months Ended September 30, 2022 September 30, 2021 Lighting Segment Display Solutions Segment Lighting Segment Display Solutions Segment Type of Product and Services LED lighting, digital signage solutions, electronic circuit boards $ 55,535 $ 7,175 $ 41,879 $ 12,428 Poles, other display solution elements 11,129 41,471 8,966 33,302 Project management, installation services, shipping and handling 869 10,890 415 9,407 $ 67,533 $ 59,536 $ 51,260 $ 55,137

Note 3 - Segment Reporting In_2

Note 3 - Segment Reporting Information (Tables)	3 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended (In thousands) September 30 2022 2021 Net Sales: Lighting Segment $ 67,533 $ 51,260 Display Solutions Segment 59,536 55,137 $ 127,069 $ 106,397 Operating Income (Loss): Lighting Segment $ 9,158 $ 4,339 Display Solutions Segment 6,496 3,749 Corporate and Eliminations (5,633 ) (3,644 ) $ 10,021 $ 4,444 Capital Expenditures: Lighting Segment $ 249 $ 180 Display Solutions Segment 162 221 Corporate and Eliminations 23 (104 ) $ 434 $ 297 Depreciation and Amortization: Lighting Segment $ 1,387 $ 1,461 Display Solutions Segment 974 1,031 Corporate and Eliminations 60 71 $ 2,421 $ 2,563
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	September 30, 2022 June 30, 2022 Total Assets: Lighting Segment $ 151,856 $ 152,431 Display Solutions Segment 160,099 152,302 Corporate and Eliminations 7,546 6,347 $ 319,501 $ 311,080
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Three Months Ended (In thousands) September 30 2022 2021 Lighting Segment inter-segment net sales $ 6,143 $ 10,457 Display Solutions Segment inter-segment net sales $ 66 $ 163

Note 4 - Earnings Per Common _2

Note 4 - Earnings Per Common Share (Tables)	3 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30 2022 2021 BASIC EARNINGS PER SHARE Net income $ 6,262 $ 3,133 Weighted average shares outstanding during the period, net of treasury shares 26,730 26,553 Weighted average vested restricted stock units outstanding 46 17 Weighted average shares outstanding in the Deferred Compensation Plan during the period 865 426 Weighted average shares outstanding 27,641 26,996 Basic earnings per common share $ 0.23 $ 0.12 DILUTED EARNINGS PER SHARE Net income $ 6,262 $ 3,133 Weighted average shares outstanding: Basic 27,641 26,996 Effect of dilutive securities (a): Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any 1,023 747 Weighted average shares outstanding 28,664 27,743 Diluted earnings per common share $ 0.22 $ 0.11 Anti-dilutive securities (b) 213 989

Note 5 - Inventories, Net (Tabl

Note 5 - Inventories, Net (Tables)	3 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, June 30, (In thousands) 2022 2022 Inventories: Raw materials $ 53,962 $ 51,637 Work-in-progress 6,156 3,029 Finished goods 20,339 19,755 Total Inventories $ 80,457 $ 74,421

Note 6 - Accrued Expenses (Tabl

Note 6 - Accrued Expenses (Tables)	3 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	September 30, June 30, (In thousands) 2022 2022 Accrued Expenses: Customer prepayments $ 6,204 $ 6,416 Compensation and benefits 8,752 9,611 Accrued warranty 4,319 4,491 Operating lease liabilities 1,187 1,274 Accrued sales commissions 2,506 4,783 Accrued Freight 4,139 3,680 Accrued FICA 1,161 1,122 Finance lease liabilities 280 275 Accrued income tax 1,835 109 Other accrued expenses 4,848 4,503 Total Accrued Expenses $ 35,231 $ 36,264

Note 7 - Goodwill and Other I_2

Note 7 - Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Goodwill [Table Text Block]	Goodwill (In thousands) Display Lighting Solutions Segment Segment Total Balance as of September 30, 2022 Goodwill $ 70,971 $ 63,347 $ 134,318 Accumulated impairment losses (61,763 ) (27,525 ) (89,288 ) Goodwill, net as of September 30, 2022 $ 9,208 $ 35,822 $ 45,030 Balance as of June 30, 2022 Goodwill $ 70,971 $ 63,347 $ 134,318 Accumulated impairment losses (61,763 ) (27,525 ) (89,288 ) Goodwill, net as of June 30, 2022 $ 9,208 $ 35,822 $ 45,030
Schedule of Intangible Assets and Goodwill [Table Text Block]	Other Intangible Assets September 30, 2022 (In thousands) Gross Carrying Accumulated Net Amount Amortization Amount Amortized Intangible Assets Customer relationships $ 62,083 $ 15,254 $ 46,829 Patents 268 268 - LED technology firmware, software 20,966 14,895 6,071 Trade name 2,658 1,075 1,583 Non-compete 260 71 189 Total Amortized Intangible Assets 86,235 31,563 54,672 Indefinite-lived Intangible Assets Trademarks and trade names 12,102 - 12,102 Total indefinite-lived Intangible Assets 12,102 - 12,102 Total Other Intangible Assets $ 98,337 $ 31,563 $ 66,774 Other Intangible Assets June 30, 2022 (In thousands) Gross Carrying Accumulated Net Amount Amortization Amount Amortized Intangible Assets Customer relationships $ 62,083 $ 14,400 $ 47,683 Patents 268 268 - LED technology firmware, software 20,966 14,598 6,368 Trade name 2,658 1,049 1,609 Non-compete 260 58 202 Total Amortized Intangible Assets 86,235 30,373 55,862 Indefinite-lived Intangible Assets Trademarks and trade names 12,102 - 12,102 Total indefinite-lived Intangible Assets 12,102 - 12,102 Total Other Intangible Assets $ 98,337 $ 30,373 $ 67,964
Finite-Lived Intangible Assets Amortization Expense [Table Text Block]	Three Months Ended September 30 (In thousands) 2022 2021 Amortization Expense of Other Intangible Assets $ 1,190 $ 1,215
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	(In thousands) 2023 $ 3,618 2024 4,760 2025 4,760 2026 4,760 2027 4,754 After 2027 32,020

Note 8 - Debt (Tables)

Note 8 - Debt (Tables)	3 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Debt [Table Text Block]	September 30, June 30, (In thousands) 2022 2022 Secured line of credit $ 56,144 $ 57,275 Term loan, net of debt issuance costs of $26 and $ 30, 21,402 22,321 Total debt 77,546 79,596 Less: amounts due within one year 3,571 3,571 Total amounts due after one year, net $ 73,975 $ 76,025

Note 11 - Supplemental Cash F_2

Note 11 - Supplemental Cash Flow Information (Tables)	3 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Three Months Ended (In thousands) September 30 2022 2021 Cash Payments: Interest $ 679 $ 203 Income taxes $ 664 $ 1,183 Non-cash investing and financing activities Issuance of common shares as compensation $ 75 $ 75 Issuance of common shares to fund deferred compensation plan $ 539 $ 2,042

Note 13 - Leases (Tables)

Note 13 - Leases (Tables)	3 Months Ended
	Sep. 30, 2022
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended September 30 (In thousands) 2022 2021 Operating lease cost $ 863 $ 879 Financing lease cost: Amortization of right of use assets 74 74 Interest on lease liabilities 18 21 Variable lease cost 22 22 Sublease income (116 ) (94 ) Total lease cost $ 861 $ 902 Supplemental Cash Flow Information: Three Months Ended September 30 (In thousands) 2022 2021 Cash flows from operating leases Fixed payments - operating cash flows $ 885 $ 887 Liability reduction - operating cash flows $ 779 $ 744 Cash flows from finance leases Interest - operating cash flows $ 18 $ 21 Repayments of principal portion - financing cash flows $ 66 $ 64 Operating Leases: September 30, June 30, 2022 2022 Total operating right-of-use assets $ 7,826 $ 8,664 Accrued expenses (Current liabilities) $ 1,187 $ 1,274 Long-term operating lease liability 7,381 8,240 Total operating lease liabilities $ 8,568 $ 9,514 Weighted Average remaining Lease Term (in years) 2.83 3.05 Weighted Average Discount Rate 4.82 % 4.81 % Finance Leases: September 30, June 30, 2022 2022 Buildings under finance leases $ 2,033 $ 2,033 Equipment under finance leases 30 30 Accumulated depreciation (719 ) (634 ) Total finance lease assets, net $ 1,344 $ 1,429 Accrued expenses (Current liabilities) $ 280 $ 275 Long-term finance lease liability 1,174 1,246 Total finance lease liabilities $ 1,454 $ 1,521 Weighted Average remaining Lease Term (in years) 4.54 4.80 Weighted Average Discount Rate 4.86 % 4.86 %
Lessee, Leases, Liability, Maturity [Table Text Block]	Maturities of Lease Liability: Operating Lease Liabilities Finance Lease Liabilities Operating Subleases Net Lease Commitments 2023 $ 2,792 $ 275 $ 377 $ 3,444 2024 3,285 337 377 3,999 2025 2,136 362 31 2,529 2026 835 362 - 1,197 2027 215 303 - 518 Thereafter 4 - - 4 Total lease payments $ 9,267 $ 1,639 $ 785 $ 11,691 Less: Interest (699 ) (185 ) (884 ) Present Value of Lease Liabilities $ 8,568 $ 1,454 $ 10,807

Note 16 - Income Taxes (Tables)

Note 16 - Income Taxes (Tables)	3 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Three Months Ended September 30 2022 2021 Reconciliation of effective tax rate: Provision for income taxes at the anticipated annual tax rate 26.20 % 24.2 % Uncertain tax positions 1.0 0.8 Deferred Income Tax Adjustment 1.6 - Share-based compensation 1.8 (0.8 ) Effective tax rate 30.6 % 24.2 %

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Revenue	$ 127,069	$ 106,397
Lighting Segment [Member]
Revenue	67,533	51,260
Lighting Segment [Member] | LED Lighting, Digital Signage, Electronic Circuit Boards [Member]
Revenue	55,535	41,879
Lighting Segment [Member] | Poles, Other Display Solution Elements [Member]
Revenue	11,129	8,966
Lighting Segment [Member] | Project Management, Installation Services, Shipping and Handling [Member]
Revenue	869	415
Display Solutions Segment [Member]
Revenue	59,536	55,137
Display Solutions Segment [Member] | LED Lighting, Digital Signage, Electronic Circuit Boards [Member]
Revenue	7,175	12,428
Display Solutions Segment [Member] | Poles, Other Display Solution Elements [Member]
Revenue	41,471	33,302
Display Solutions Segment [Member] | Project Management, Installation Services, Shipping and Handling [Member]
Revenue	10,890	9,407
Transferred at Point in Time [Member] | Lighting Segment [Member]
Revenue	58,077	44,582
Transferred at Point in Time [Member] | Display Solutions Segment [Member]
Revenue	47,489	37,431
Transferred over Time [Member] | Lighting Segment [Member]
Revenue	9,456	6,678
Transferred over Time [Member] | Display Solutions Segment [Member]
Revenue	$ 12,047	$ 17,706

Note 3 - Segment Reporting In_3

Note 3 - Segment Reporting Information (Details Textual) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2021
Number of Operating Segments	2
Revenue from Contract with Customer, Including Assessed Tax	$ 127,069	$ 106,397
Intersegment Revenue Markup Percentage	10%
Display Solutions Segment [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 59,536	$ 55,137
Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Number of Major Customers	0
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Display Solutions Segment [Member] | One Customer [Member]
Number of Major Customers		1
Revenue from Contract with Customer, Including Assessed Tax		$ 12,300
Concentration Risk, Percentage		12%
Accounts Receivable [Member] | Customer Concentration Risk [Member]
Number of Major Customers			0
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Display Solutions Segment [Member] | One Customer [Member]
Number of Major Customers	1
Concentration Risk, Percentage	11%
Accounts Receivable, after Allowance for Credit Loss, Total	$ 8,500

Note 3 - Segment Reporting In_4

Note 3 - Segment Reporting Information - Summarized Financial Information by Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Net Sales	$ 127,069	$ 106,397
Operating income loss	10,021	4,444
Capital expenditures	434	297
Depreciation and amortization	2,421	2,563
Corporate and Eliminations [Member]
Operating income loss	(5,633)	(3,644)
Capital expenditures	23	(104)
Depreciation and amortization	60	71
Lighting Segment [Member]
Net Sales	67,533	51,260
Lighting Segment [Member] | Operating Segments [Member]
Operating income loss	9,158	4,339
Capital expenditures	249	180
Depreciation and amortization	1,387	1,461
Display Solutions Segment [Member]
Net Sales	59,536	55,137
Display Solutions Segment [Member] | Operating Segments [Member]
Operating income loss	6,496	3,749
Capital expenditures	162	221
Depreciation and amortization	$ 974	$ 1,031

Note 3 - Segment Reporting In_5

Note 3 - Segment Reporting Information - Identifiable Assets by Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Identifiable assets	$ 319,501	$ 311,080
Corporate and Eliminations [Member]
Identifiable assets	7,546	6,347
Lighting Segment [Member] | Operating Segments [Member]
Identifiable assets	151,856	152,431
Display Solutions Segment [Member] | Operating Segments [Member]
Identifiable assets	$ 160,099	$ 152,302

Note 3 - Segment Reporting In_6

Note 3 - Segment Reporting Information - Intersegment Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Revenue from Contract with Customer, Including Assessed Tax	$ 127,069	$ 106,397
Lighting Segment [Member]
Revenue from Contract with Customer, Including Assessed Tax	67,533	51,260
Display Solutions Segment [Member]
Revenue from Contract with Customer, Including Assessed Tax	59,536	55,137
Intersegment Eliminations [Member] | Lighting Segment [Member]
Revenue from Contract with Customer, Including Assessed Tax	6,143	10,457
Intersegment Eliminations [Member] | Display Solutions Segment [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 66	$ 163

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
		Sep. 30, 2022	Sep. 30, 2021
Net Income		$ 6,262	$ 3,133
Weighted average shares outstanding during the period, net of treasury shares (in shares)		26,730	26,553
Weighted average vested restricted stock units outstanding (in shares)		865	426
Weighted average shares outstanding (in shares)		27,641	26,996
Basic earnings per common share (in dollars per share)		$ 0.23	$ 0.12
Basic (in shares)		27,641	26,996
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any (in shares)	[1]	1,023	747
Weighted average shares outstanding (in shares)		28,664	27,743
Diluted earnings per common share (in dollars per share)		$ 0.22	$ 0.11
Anti-dilutive securities (b) (in shares)	[2]	213	989
Restricted Stock Units (RSUs) [Member]
Weighted average vested restricted stock units outstanding (in shares)		46	17
[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.[2]Anti-dilutive securities were excluded from the computation of diluted net income per share for the three months ended September 30, 2022, and September 30, 2021, 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.

Note 5 - Inventories, Net - Inv

Note 5 - Inventories, Net - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Raw materials	$ 53,962	$ 51,637
Work-in-progress	6,156	3,029
Finished goods	20,339	19,755
Total Inventories	$ 80,457	$ 74,421

Note 6 - Accrued Expenses - Acc

Note 6 - Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Customer prepayments	$ 6,204	$ 6,416
Compensation and benefits	8,752	9,611
Accrued warranty	4,319	4,491
Operating lease liabilities	1,187	1,274
Accrued sales commissions	2,506	4,783
Accrued Freight	4,139	3,680
Accrued FICA	1,161	1,122
Finance lease liabilities	280	275
Accrued income tax	1,835	109
Other accrued expenses	4,848	4,503
Total Accrued Expenses	$ 35,231	$ 36,264

Note 7 - Goodwill and Other I_3

Note 7 - Goodwill and Other Intangible Assets (Details Textual)	3 Months Ended
	Sep. 30, 2022
Number of Reporting Units	3
Lighting Segment [Member]
Number of Reporting Units	1
Display Solutions Segment [Member]
Number of Reporting Units	2

Note 7 - Goodwill and Other I_4

Note 7 - Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Goodwill, gross	$ 134,318	$ 134,318
Accumulated impairment losses	(89,288)	(89,288)
Goodwill	45,030	45,030
Goodwill	45,030	45,030
Lighting Segment [Member]
Goodwill, gross	70,971	70,971
Accumulated impairment losses	(61,763)	(61,763)
Goodwill	9,208	9,208
Goodwill	9,208	9,208
Display Solutions Segment [Member]
Goodwill, gross	63,347	63,347
Accumulated impairment losses	(27,525)	(27,525)
Goodwill	35,822	35,822
Goodwill	$ 35,822	$ 35,822

Note 7 - Goodwill and Other I_5

Note 7 - Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Gross carrying value	$ 86,235	$ 86,235
Accumulated amortization, finite	31,563	30,373
Net amount	54,672	55,862
Gross carrying value	12,102	12,102
Trademarks and trade names	12,102	12,102
Total Other Intangible Assets, gross	98,337	98,337
Other intangible assets, net	66,774	67,964
Trademarks and Trade Names [Member]
Gross carrying value	12,102	12,102
Trademarks and trade names	12,102	12,102
Customer Relationships [Member]
Gross carrying value	62,083	62,083
Accumulated amortization, finite	15,254	14,400
Net amount	46,829	47,683
Patents [Member]
Gross carrying value	268	268
Accumulated amortization, finite	268	268
Net amount	0	0
LED Technology Firmware Software [Member]
Gross carrying value		20,966
Accumulated amortization, finite		14,598
Net amount		6,368
Trade Names [Member]
Gross carrying value	2,658	2,658
Accumulated amortization, finite	1,075	1,049
Net amount	1,583	1,609
Technology-Based Intangible Assets [Member]
Gross carrying value	20,966
Accumulated amortization, finite	14,895
Net amount	6,071
Noncompete Agreements [Member]
Gross carrying value	260	260
Accumulated amortization, finite	71	58
Net amount	$ 189	$ 202

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, 2022	Sep. 30, 2021
Amortization Expense of Other Intangible Assets	$ 1,190	$ 1,215

Note 7 - Goodwill and Other I_7

Note 7 - Goodwill and Other Intangible Assets - Future Amortization Expense (Details) $ in Thousands	Sep. 30, 2022 USD ($)
2023	$ 3,618
2024	4,760
2025	4,760
2026	4,760
2027	4,754
After 2027	$ 32,020

Note 8 - Debt (Details Textual)

Note 8 - Debt (Details Textual) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Sep. 30, 2021	Dec. 31, 2022	Sep. 30, 2022
Line of Credit Facility, Maximum Borrowing Capacity	$ 100
Minimum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage			0.15%
Maximum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage			0.25%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	1%
London Interbank Offered Rate (LIBOR) [Member] | Forecast [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%
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.25%
Base Rate [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	0%
Base Rate [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 75		$ 75
Debt Instrument, Basis Spread on Variable Rate			4.80%
Line of Credit Facility, Remaining Borrowing Capacity			$ 18.9
Term Loan [Member]
Debt Instrument, Face Amount	25
Debt Instrument, Annual Principal Payment	$ 3.6
Debt Instrument, Term	5 years

Note 8 - Debt - Debt (Details)

Note 8 - Debt - Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Secured line of credit	$ 56,144	$ 57,275
Total debt	77,546	79,596
Less: amounts due within one year	3,571	3,571
Total amounts due after one year, net	$ 73,975	$ 76,025

Note 8 - Debt - Debt-parentheti

Note 8 - Debt - Debt-parentheticals (Details) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Term Loan [Member]
Debt Issuance Costs, Net, Total	$ 26	$ 30

Note 9 - Cash Dividends (Detail

Note 9 - Cash Dividends (Details Textual) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Nov. 30, 2022
Payments of Dividends, Total	$ 1.4	$ 1.3
Dividends Accrued	$ 0.2	$ 0.1
Annual Indicated per Share Dividend Rate	$ 0.20
Subsequent Event [Member]
Quarterly Indicated Per Share Dividend Rate			$ 0.05

Note 10 - Equity Compensation (

Note 10 - Equity Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Nov. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Share-Based Payment Arrangement, Expense		$ 0.6	$ 0.6
The 2019 Omnibus Award Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant		1,253,908
The 2019 Omnibus Award Plan [Member] | Performance Shares [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period		164,348
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 6.90
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		196,522
Subsequent Event [Member] | The 2019 Omnibus Award Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares)	2,350,000

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, 2022	Sep. 30, 2021
Interest	$ 679	$ 203
Income taxes	664	1,183
Issuance of common shares as compensation	75	75
Issuance of common shares to fund deferred compensation plan	$ 539	$ 2,042

Note 13 - Leases (Details Textu

Note 13 - Leases (Details Textual)	3 Months Ended
	Sep. 30, 2022
Minimum [Member]
Lessee, Leases, Remaining Term	1 year
Maximum [Member]
Lessee, Leases, Remaining Term	7 years

Note 13 - Leases - Operating Le

Note 13 - Leases - Operating Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022
Operating lease cost	$ 863	$ 879
Total operating right-of-use assets	7,826		$ 8,664
Buildings under finance leases	2,033		2,033
Fixed payments - operating cash flows	885	887
Accrued expenses (Current liabilities)	1,187		1,274
Amortization of right of use assets	74	74
Liability reduction - operating cash flows	779	744
Operating lease liabilities	7,381		8,240
Accumulated depreciation	(719)		(634)
Interest on lease liabilities	18	21
Interest - operating cash flows	18	21
Total operating lease liabilities	8,568		9,514
Total finance lease assets, net	1,344		$ 1,429
Variable lease cost	22	22
Repayments of principal portion - financing cash flows	$ 66	64
Weighted Average remaining Lease Term (in years) (Year)	2 years 9 months 29 days		3 years 18 days
Finance lease liabilities	$ 280		$ 275
Sublease income	$ (116)	(94)
Weighted Average Discount Rate	4.82%		4.81%
Finance lease liabilities	$ 1,174		$ 1,246
Total lease cost	861	$ 902
Total finance lease liabilities	$ 1,454		$ 1,521
Weighted Average remaining Lease Term (in years) (Year)	4 years 6 months 14 days		4 years 9 months 18 days
Weighted Average Discount Rate	4.86%		4.86%
Accrued Expenses [Member]
Accrued expenses (Current liabilities)	$ 1,187		$ 1,274
Buildings Under Finance Leases [Member]
Buildings under finance leases	2,033		2,033
Equipment Under Finance Leases [Member]
Buildings under finance leases	$ 30		$ 30

Note 13 - Leases - Maturities o

Note 13 - Leases - Maturities of Lease Liability (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Lessee, Operating Lease, Liability, to be Paid, Remainder of Fiscal Year	$ 2,792
Finance Lease, Liability, to be Paid, Remainder of Fiscal Year	275
Lessee, Operating Sublease, Payment to be Received, Remainder of Fiscal Year	(377)
Lessee, Net Lease Commitments, Liability, to be Paid, Reaminder of Fiscal Year	3,444
Lessee, Operating Lease, Liability, to be Paid, Year One	3,285
Finance Lease, Liability, to be Paid, Year One	337
Lessee, Operating Sublease, Payment to be Received, Year One	(377)
Lessee, Net Lease Commitments, Liability, to be Paid, Year One	3,999
Lessee, Operating Lease, Liability, to be Paid, Year Two	2,136
Finance Lease, Liability, to be Paid, Year Two	362
Lessee, Operating Sublease, Payment to be Received, Year Two	(31)
Lessee, Net Lease Commitments, Liability, to be Paid, Year Two	2,529
Lessee, Operating Lease, Liability, to be Paid, Year Three	835
Finance Lease, Liability, to be Paid, Year Three	362
Lessee, Operating Sublease, Payment to be Received, Year Three	0
Lessee, Net Lease Commitments, Liability, to be Paid, Year Three	1,197
Lessee, Operating Lease, Liability, to be Paid, Year Four	215
Finance Lease, Liability, to be Paid, Year Four	303
Lessee, Operating Sublease, Payment to be Received, Year Four	0
Lessee, Net Lease Commitments, Liability, to be Paid, Year Four	518
Thereafter	4
Thereafter	0
Thereafter	0
Thereafter	4
Total lease payments	9,267
Total lease payments	1,639
Total lease payments	(785)
Total lease payments	11,691
Less: Interest	(699)
Less: Interest	(185)
Less: Interest	(884)
Present Value of Lease Liabilities	8,568	$ 9,514
Present Value of Lease Liabilities	1,454	$ 1,521
Present Value of Lease Liabilities	$ 10,807

Note 16 - Income Taxes - Reconc

Note 16 - Income Taxes - Reconciliation of Income Tax Rate (Details)	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Provision for income taxes at the anticipated annual tax rate	26.20%	24.20%
Uncertain tax positions	1%	0.80%
Tax rate changes		0%
Share-based compensation	(1.80%)	0.80%
Effective tax rate	30.60%	24.20%