Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Sep. 30, 2017 | Nov. 13, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | NATURAL ALTERNATIVES INTERNATIONAL INC | |
Entity Central Index Key | 787,253 | |
Trading Symbol | naii | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 7,429,020 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 27,706 | $ 27,843 |
Accounts receivable - less allowance for doubtful accounts of $33 at September 30, 2017 and $18 at June 30, 2017 | 9,209 | 8,410 |
Notes receivable | 1,500 | |
Inventories, net | 18,996 | 13,729 |
Income tax receivable | 548 | 261 |
Prepaids and other current assets | 1,825 | 1,456 |
Total current assets | 59,784 | 51,699 |
Property and equipment, net | 18,369 | 18,136 |
Deferred income taxes | 2,002 | 2,002 |
Other noncurrent assets, net | 794 | 774 |
Total assets | 80,949 | 72,611 |
Current liabilities: | ||
Accounts payable | 10,892 | 5,116 |
Accrued liabilities | 2,351 | 1,931 |
Accrued compensation and employee benefits | 990 | 1,594 |
Forward contract | 1,626 | 422 |
Income taxes payable | 1,345 | 1,207 |
Total current liabilities | 17,204 | 10,270 |
Long-term pension liability | 608 | 557 |
Deferred rent | 544 | 537 |
Forward contract, noncurrent | 689 | 99 |
Total liabilities | 19,045 | 11,463 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Preferred stock; $.01 par value; 500,000 shares authorized; none issued or outstanding | 0 | 0 |
Common stock; $.01 par value; 20,000,000 shares authorized; issued and outstanding (net of treasury shares) 7,436,284 at September 30, 2017 and 6,937,018 at June 30, 2017 | 84 | 79 |
Additional paid-in capital | 22,719 | 22,260 |
Retained earnings | 47,222 | 45,788 |
Treasury stock, at cost, 1,045,393 shares at September 30, 2017 and 1,044,659 June 30, 2017 | (6,082) | (6,074) |
Accumulated other comprehensive loss | (2,039) | (905) |
Total stockholders’ equity | 61,904 | 61,148 |
Total liabilities and stockholders’ equity | $ 80,949 | $ 72,611 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 |
Accounts receivable, allowance for doubtful accounts | $ 33 | $ 18 |
Preferred stock par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 500,000 | 500,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, issued (in shares) | 7,436,284 | 6,937,018 |
Common stock, outstanding (in shares) | 7,436,284 | 6,937,018 |
Treasury stock, shares (in shares) | 1,045,393 | 1,044,659 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Net sales | $ 28,074 | $ 34,067 |
Cost of goods sold | 21,704 | 26,398 |
Gross profit | 6,370 | 7,669 |
Selling, general and administrative expenses | 4,487 | 4,133 |
Income from operations | 1,883 | 3,536 |
Other income (expense): | ||
Interest income | 250 | 116 |
Foreign exchange loss | (143) | (59) |
Other, net | 1 | (7) |
Total other income | 108 | 50 |
Income before income taxes | 1,991 | 3,586 |
Provision for income taxes | 557 | 1,096 |
Net income | 1,434 | 2,490 |
Unrealized loss resulting from change in fair value of derivative instruments, net of tax | (1,134) | (390) |
Comprehensive income | $ 300 | $ 2,100 |
Net income per common share: | ||
Basic (in dollars per share) | $ 0.22 | $ 0.38 |
Diluted (in dollars per share) | $ 0.21 | $ 0.37 |
Weighted average common shares outstanding: | ||
Basic (in shares) | 6,606,518 | 6,558,395 |
Diluted (in shares) | 6,831,230 | 6,646,963 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Cash flows from operating activities | ||
Net income | $ 1,434 | $ 2,490 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 717 | 458 |
Non-cash sales discount | 163 | |
Non-cash compensation | 301 | 250 |
Pension expense | 51 | 50 |
Loss (gain) on disposal of assets | 1 | (19) |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | (799) | 649 |
Inventories, net | (5,267) | (2,545) |
Prepaids and other assets | (389) | 71 |
Accounts payable and accrued liabilities | 5,773 | (875) |
Accrued compensation and employee benefits | (604) | (1,131) |
Forward contracts | 441 | (36) |
Income taxes | 492 | 514 |
Net cash provided by (used in) operating activities | 2,314 | (124) |
Cash flows from investing activities | ||
Purchases of property and equipment | (956) | (1,716) |
Proceeds from sale of property and equipment | 5 | 19 |
Issuance of notes receivable | (1,500) | |
Net cash used in investing activities | (2,451) | (1,697) |
Cash flows from financing activities | ||
Repurchase of common stock | (79) | |
Net cash used in financing activities | (79) | |
Net decrease in cash and cash equivalents | (137) | (1,900) |
Cash and cash equivalents at beginning of period | 27,843 | 19,747 |
Cash and cash equivalents at end of period | 27,706 | 17,847 |
Supplemental disclosures of cash flow information | ||
Interest | ||
Taxes | 76 | 593 |
Disclosure of non-cash activities: | ||
Change in unrealized loss resulting from change in fair value of derivative instruments, net of tax | $ (1,134) | $ (390) |
Note A - Basis of Presentation
Note A - Basis of Presentation and Summary of Significant Accounting Policies | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | A . Basis of Presentation and Summary of Significant Accounting Policies The accompanying interim unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10 ’s opinion, all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows have been included and are of a normal, recurring nature. The results of operations for the three September 30, 2017 not You should read the financial statements and these notes, which are an integral part of the financial statements, together with our audited financial statements included in our Annual Report on Form 10 June 30, 2017 “2017 2017 Recent Accounting Pronouncements In March 2016, inancial Accounting Standards Board issued Accounting Standards Update No. 2016 09, 718 2016 09 2016 09 July 1, 2017. 2016 09 not September 30, 2017, no In March 2016, No. 2016 02, 842 2016 02 d liabilities on the balance sheet and requiring disclosure of key information about such arrangements. ASU 2016 02 first 2020. In April 2016, No. 2016 10, 606 2016 10 which amends and adds clarity to certain aspects of the guidance set forth in the upcoming revenue standard (ASU 2014 09 May 2016, No. 2016 11, 605 815 2016 11 2014 09. May 2016 No. 2016 12, 606 2016 12 2014 09. 2014 09 five may may All of these new standards will be effective for us concurrently with ASU 2014 09, first 2019. not e do not different under Topic 606. In August 2 017, 2017 12, 815 We are currently evaluating the impact of adopting the new standard on our consolidated financial statements. ASU 2017 12 first 2020. Net Income per Common Share We compute net income per common share using the weighted average number of common shares outstanding during the period, and dilute d net income per common share using the additional dilutive effect of all dilutive securities. The dilutive impact of stock options accounts for the additional weighted average shares of common stock outstanding for our diluted net income per common share computation. We calculated basic and diluted net income per common share as follows (in thousands, except per share data): Three Months Ended September 30, 201 7 201 6 Numerator Net income $ 1,434 $ 2,490 Denominator Basic weighted average common shares outstanding 6,607 6,558 Dilutive effect of stock options 224 89 Diluted weighted average common shares outstanding 6,831 6,647 Basic net income per common share $ 0.22 $ 0.38 Diluted net income per common share $ 0.21 $ 0.37 No three September 30, 2017 September 30, 2016. Revenue Recognition To recognize revenue, four iteria must be met: 1 2 3 4 not not not We record reductions to gross revenue for estimated returns of private-label contract manufacturing products and beta-alanine raw material sales. The estimated returns are based on the trailing six not not On August 7, 2017, three Agreements”), with The Juice Plus+ Company LLC (“Juice Plus+”). The Agreements are an Exclusive Manufacturing Agreement, a Restricted Stock Award Agreement, and an Irrevocable Proxy. Pursuant to the Exclusive Manufacturing Agreement, Juice Plus+ has granted us exclusive rights to manufacture and supply Juice Plus+ with certain Juice Plus+ products within 24 500,000 5 may three September 30, 2017, $163,000 . We currently own certain U.S. patents, and each patent ’s corresponding foreign patent applications. All of these patents and patent rights relate to the ingredient known as beta-alanine and marketed and sold under the CarnoSyn® and SR CarnoSyn® trade names. We recorded beta-alanine raw material sales and royalty and licensing income as a component of revenue in the amount of $5.9 three September 30, 2017 $6.7 three September 30, 2016. $284,000 three September 30, 2017 , and $316,000 three September 30, 2016 . Notes Receivable On September 30, 2017, one $1.5 12 one fifteen 15% Stock-Based Compensation We have an omnibus incentive plan that was approved by our Board of Directors effective as of October 15, 2009 November 30, 2009. may We estimate the fair value of stock option awards at the date of grant using the Bl ack-Scholes option valuation model. The Black-Scholes option valuation model was developed for use in estimating the fair value of traded options that have no not The Company did not any options during the three September 30, 2017 three September 30, 2016. . No three September 30, 2017 three September 30, 2016. three September 30, 2017, 5,000 no three September 30, 2016. We did not three September 30, 2017. 10,000 three September 30, 2016. Our net income included stock based compensation expense of approximately $301,000 three September 30, 2017, $250,000 three September 30, 2016. Fair Value of Financial Instruments Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liabili ty (i.e., the “exit price”) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. We use a three developed based on the best information available under the circumstances. The fair value hierarchy is broken down into three 1 (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. We classify cash, cash equivalents, and marketable securities balances as Level 1 2 not 3 As of September 30, 2017 June 30, 2017, not 1, 2 September 30, 2017 $2.3 June 30, 2017 $521 ,000. As of September 30, 2017 June 30, 2017 not 3. not 2017 three September 30, 2017 . |
Note B - Inventories, Net
Note B - Inventories, Net | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | B . Inventories, net Inventories, net consisted o f the following (in thousands): September 30, 201 7 June 30, 201 7 Raw materials $ 13,828 $ 9,469 Work in progress 3,562 1,312 Finished goods 2,269 3,562 Reserves (663 ) (614 ) Inventories, net $ 18,996 $ 13,729 |
Note C - Property and Equipment
Note C - Property and Equipment | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | C . Property and Equipment Property and equipment consisted of the following (in thousands): Depreciable Life In Years September 30, 201 7 June 30, 201 7 Land N/A $ 1,200 $ 1,200 Building and building improvements 7 – 39 3,680 3,706 Machinery and equipment 3 – 12 24,900 24,194 Office equipment and furniture 3 – 5 4,073 3,954 Vehicles 3 209 209 Leasehold improvements 1 – 15 17,159 17,038 Total property and equipment 51,221 50,301 Less : accumulated depreciation and amortization (32,852 ) (32,165 ) Property and equipment, net $ 18,369 $ 18,136 |
Note D - Other Comprehensive Lo
Note D - Other Comprehensive Loss | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | D . Other Comprehensive Loss O ther comprehensive (loss) income (“OCL” and “OCI”) consisted of the following during the three September 30, 2017 September 30 , 2016 Defined Benefit Pension Plan Unrealized Gains (Losses) on Cash Flow Hedges Total Balance as of June 30, 2017 $ (491 ) $ (414 ) $ (905 ) OCI/OCL before reclassifications — (1,953 ) (1,953 ) Amounts reclassified from OCI — 178 178 Tax effect of OCI activity — 641 641 Net current period OCI/OCL — (1,134 ) (1,134 ) Balance as of September 30, 2017 $ (491 ) $ (1,548 ) $ (2,039 ) Balance as of June 30, 201 6 $ (775 ) $ 95 $ (680 ) OCI/OCL before reclassifications — (452 ) (452 ) Amounts reclassified from OCI — (158 ) (158 ) Tax effect of OCI activity — 220 220 Net current period OCI/OCL — (390 ) (390 ) Balance as of September 30, 201 6 $ (775 ) $ (295 ) $ (1,070 ) |
Note E - Debt
Note E - Debt | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | E . Debt The Company has a Credit Agreement with Wells Fargo Bank, N.A. The Credit Agreement provides us with a credit line of up to $10.0 February 1, 2020. may On September 29, 2017, third not $1.5 $1.5 There is no no Under the terms of the Credit Agreement, borrowings are subject to eligibility requirements including maintaining (i) a ratio of total liabilities to tangible net worth of not 1.25 1.0 not 1.75 1.0 $100,000 1.25% one 1.25% first may may $100,000, Our obligations under the Credit Agreement are secured by our accounts receivable and other rights to payment, general intangibles, inventory, equipment and fixtures. During the three September 30, 2017, We also have a foreign exchange facility with Wells Fargo Bank, N.A. in effect until January 31, 2019, August 15, 2019. We did not three September 30, 2017. September 30, 2017, $10.0 |
Note F - Economic Dependency
Note F - Economic Dependency | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | F . Economic Dependency We had substantial net sales to certain customers during the periods shown in the following table. The loss of any of these customers, or a significant decline in sales to these customers, the growth rate of sales to these customers, or in these customers’ ability to make payments when due, could have a material adverse impact on our net sales and net income. Net sales to any one 10% Three months Ended September 30, 2017 2016 Customer 1 $ 13,157 $ 17,090 Customer 2 3,161 (a) $ 16,318 $ 17,090 (a) Sales were less than 10% ’s total sales. We buy certain products, including beta-alanine, from a limited number of raw material suppliers . The loss of any of these suppliers could have a material adverse impact on our net sales and net income. Raw material purchases from any one 10% Three months Ended September 30, 201 7 2016 Supplier 1 $ 1,967 (b) $ 1,967 (a) (b) Purchases were less than 10% ’s total raw material purchases. |
Note G - Segment Information
Note G - Segment Information | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | G . Segment Information Our busine ss consists of two We evaluate performance based on a number of factors. The primary performance measures for each segment are net sales and income or loss from operations before corporate allocations. Operating income or loss for each segment does no t include corporate general and administrative expenses, interest expense and other miscellaneous income and expense items. Corporate general and administrative expenses, which are not not 2017 Our operating results by business segment were as follows (in thousands): Three Months Ended September 30, 2017 2016 Net Sales Private label contract manufacturing $ 22,222 $ 27,379 Patent and trademark licensing 5,852 6,688 Total $ 28,074 $ 34,067 Three Months Ended September 30, 201 7 201 6 Income from Operations Private label contract manufacturing $ 2,257 $ 3,314 Patent and trademark li censing 1,188 1,900 Income from operations of reportable segments 3,445 5,214 Corporate expenses not allocated to segments (1,562 ) (1,678 ) Total net sales $ 1,883 $ 3,536 September 30, 201 7 June 30, 201 7 Total Assets Private label contract manufacturing $ 67,795 $ 60,489 Patent and trademark licensing 13,154 12,122 Total assets $ 80,949 $ 72,611 Our private label contract manuf acturing products are sold both in the U.S. and in markets outside the U.S., including Europe, Australia and Asia, as well as Canada, Mexico and South Africa. Our primary market outside the U.S. is Europe. Our patent and trademark licensing activities are primarily based in the U.S. Net sales by geographic region, based on the customers ’ location, were as follows (in thousands): Three Months Ended September 30, 201 7 2016 United States $ 15,194 $ 15,225 Markets outside the Unite d States 12,880 18,842 Total net sales $ 28,074 $ 34,067 Products manufactured by NAIE accounted for 75% three September 30, 2017, 48% three September 30, 2016. No . during the three September 30, 2017 2016 . Assets and capital expenditures by geographic region, based on the location of the company or subsidiary at whic h they were located or made, were as follows (in thousands): Long-Lived Assets Total Assets Capital Expenditures Three Months Ended September 30, 201 7 June 30, 201 7 September 30, 201 7 June 30, 201 7 September 30, 201 7 September 30, 2 01 6 United States $ 10,491 $ 10,753 $ 53,045 $ 47,777 $ 89 $ 1,227 Europe 7,878 7,383 27,904 24,834 867 489 $ 18,369 $ 18,136 $ 80,949 $ 72,611 $ 956 $ 1,716 |
Note H - Income Taxes
Note H - Income Taxes | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | H . Income Taxes The effective tax rate for the three September 30, 2017 28.0%. 34% To determine our quarterly provision for income taxes, we use an estimated annual effective tax rate, which is based on expected annual income, statutory tax rates and tax planning opportunities available in the various jurisdictions to which we are subject. Certain significant or unusual items are separately recognized in the quarter in which they occur and can be a source of variability in the effective tax rate from quarter to quarter . There were no three September 30, 2017. We record valuation allowances to reduce our deferred tax assets to an amount that we b elieve is more likely than not not three September 30, 2017, no Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are measured using enacted tax rates, for each of the jurisdictions in which we operate, expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as income or expense in the period that includes the enactment date. We are subject to taxation in the U.S., Switzerl and and various state jurisdictions. Our tax years for the fiscal year ended June 30, 2014 June 30, 2007 June 30, 2015 We do not ’s retained earnings that are declared as indefinitely reinvested offshore, thus reducing our overall income tax expense. The amount of earnings designated as indefinitely reinvested in NAIE is based on the actual deployment of such earnings in NAIE’s assets and our expectations of the future cash needs of our U.S. and foreign entities. Income tax laws are also a factor in determining the amount of foreign earnings to be indefinitely reinvested offshore. It is our policy to establish reserves based on management ’s assessment of exposure for certain positions taken in previously filed tax returns that may no three September 30, 2017. |
Note I - Treasury Stock
Note I - Treasury Stock | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Treasury Stock [Text Block] | I . Treasury Stock On June 2, 2011, $2.0 February 6, 2015, $1.0 $3.0 May 11, 2015, $2.0 $5.0 March 28, 2017, $2.0 $7.0 may, During the three September 30, 2017 September 30, 2016, not During the three September 30, 2017, 734 $10.70 $8,000. During the three September 30, 2016, 6,037 $13.14 $79,000. |
Note J - Derivatives and Hedgin
Note J - Derivatives and Hedging | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | J . Derivatives and Hedging We are exposed to gains and losses resulting from fluctuations in foreign currency exchange rates relating to forecasted product sales denominated in foreign currencies and transactions of NAIE, our foreign subsidiary. As part of our overall strategy to manage the level of exposure to the risk of fluctuations in foreign currency exchange rates, we may . To the extent we enter into such contracts, there can be no As of September 30, 2017, August 2019. For foreign currency contracts designated as cash flow hedges, hedge effectiveness is measured using the spot rate. Changes in the spot-forward differential are excluded from the test of hedge effectiveness and are recorded currently in earnings as interest expense. We measure effectiveness by comparing the cumulative change in the hedge contract with the cumulative change in the hedged item . During the three September 30, 2017, not No no As of September 30, 2017, $62.7 54.2 September 30, 2017, $2.4 $1.6 12 As of September 30, 2017, $2.3 $1.6 $689,000 three September 30, 2017, $2.2 $422,000 June 30, 2017, $422,000 $99,000 During the three September 30, 2016, $452,000 $58,000 |
Note K - Contingencies
Note K - Contingencies | 3 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | K . Contingencies From time to time, we become involved in various investigations, claims and legal proceedings that arise in the ordinary course of our business. These matters may not not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In March 2016, inancial Accounting Standards Board issued Accounting Standards Update No. 2016 09, 718 2016 09 2016 09 July 1, 2017. 2016 09 not September 30, 2017, no In March 2016, No. 2016 02, 842 2016 02 d liabilities on the balance sheet and requiring disclosure of key information about such arrangements. ASU 2016 02 first 2020. In April 2016, No. 2016 10, 606 2016 10 which amends and adds clarity to certain aspects of the guidance set forth in the upcoming revenue standard (ASU 2014 09 May 2016, No. 2016 11, 605 815 2016 11 2014 09. May 2016 No. 2016 12, 606 2016 12 2014 09. 2014 09 five may may All of these new standards will be effective for us concurrently with ASU 2014 09, first 2019. not e do not different under Topic 606. In August 2 017, 2017 12, 815 We are currently evaluating the impact of adopting the new standard on our consolidated financial statements. ASU 2017 12 first 2020. |
Earnings Per Share, Policy [Policy Text Block] | Net Income per Common Share We compute net income per common share using the weighted average number of common shares outstanding during the period, and dilute d net income per common share using the additional dilutive effect of all dilutive securities. The dilutive impact of stock options accounts for the additional weighted average shares of common stock outstanding for our diluted net income per common share computation. We calculated basic and diluted net income per common share as follows (in thousands, except per share data): Three Months Ended September 30, 201 7 201 6 Numerator Net income $ 1,434 $ 2,490 Denominator Basic weighted average common shares outstanding 6,607 6,558 Dilutive effect of stock options 224 89 Diluted weighted average common shares outstanding 6,831 6,647 Basic net income per common share $ 0.22 $ 0.38 Diluted net income per common share $ 0.21 $ 0.37 No three September 30, 2017 September 30, 2016. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition To recognize revenue, four iteria must be met: 1 2 3 4 not not not We record reductions to gross revenue for estimated returns of private-label contract manufacturing products and beta-alanine raw material sales. The estimated returns are based on the trailing six not not On August 7, 2017, three Agreements”), with The Juice Plus+ Company LLC (“Juice Plus+”). The Agreements are an Exclusive Manufacturing Agreement, a Restricted Stock Award Agreement, and an Irrevocable Proxy. Pursuant to the Exclusive Manufacturing Agreement, Juice Plus+ has granted us exclusive rights to manufacture and supply Juice Plus+ with certain Juice Plus+ products within 24 500,000 5 may three September 30, 2017, $163,000 . We currently own certain U.S. patents, and each patent ’s corresponding foreign patent applications. All of these patents and patent rights relate to the ingredient known as beta-alanine and marketed and sold under the CarnoSyn® and SR CarnoSyn® trade names. We recorded beta-alanine raw material sales and royalty and licensing income as a component of revenue in the amount of $5.9 three September 30, 2017 $6.7 three September 30, 2016. $284,000 three September 30, 2017 , and $316,000 three September 30, 2016 . |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | Notes Receivable On September 30, 2017, one $1.5 12 one fifteen 15% |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation We have an omnibus incentive plan that was approved by our Board of Directors effective as of October 15, 2009 November 30, 2009. may We estimate the fair value of stock option awards at the date of grant using the Bl ack-Scholes option valuation model. The Black-Scholes option valuation model was developed for use in estimating the fair value of traded options that have no not The Company did not any options during the three September 30, 2017 three September 30, 2016. . No three September 30, 2017 three September 30, 2016. three September 30, 2017, 5,000 no three September 30, 2016. We did not three September 30, 2017. 10,000 three September 30, 2016. Our net income included stock based compensation expense of approximately $301,000 three September 30, 2017, $250,000 three September 30, 2016. |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value of Financial Instruments Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liabili ty (i.e., the “exit price”) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. We use a three developed based on the best information available under the circumstances. The fair value hierarchy is broken down into three 1 (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. We classify cash, cash equivalents, and marketable securities balances as Level 1 2 not 3 As of September 30, 2017 June 30, 2017, not 1, 2 September 30, 2017 $2.3 June 30, 2017 $521 ,000. As of September 30, 2017 June 30, 2017 not 3. not 2017 three September 30, 2017 . |
Note A - Basis of Presentatio18
Note A - Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, 201 7 201 6 Numerator Net income $ 1,434 $ 2,490 Denominator Basic weighted average common shares outstanding 6,607 6,558 Dilutive effect of stock options 224 89 Diluted weighted average common shares outstanding 6,831 6,647 Basic net income per common share $ 0.22 $ 0.38 Diluted net income per common share $ 0.21 $ 0.37 |
Note B - Inventories, Net (Tabl
Note B - Inventories, Net (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | September 30, 201 7 June 30, 201 7 Raw materials $ 13,828 $ 9,469 Work in progress 3,562 1,312 Finished goods 2,269 3,562 Reserves (663 ) (614 ) Inventories, net $ 18,996 $ 13,729 |
Note C - Property and Equipme20
Note C - Property and Equipment (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Depreciable Life In Years September 30, 201 7 June 30, 201 7 Land N/A $ 1,200 $ 1,200 Building and building improvements 7 – 39 3,680 3,706 Machinery and equipment 3 – 12 24,900 24,194 Office equipment and furniture 3 – 5 4,073 3,954 Vehicles 3 209 209 Leasehold improvements 1 – 15 17,159 17,038 Total property and equipment 51,221 50,301 Less : accumulated depreciation and amortization (32,852 ) (32,165 ) Property and equipment, net $ 18,369 $ 18,136 |
Note D - Other Comprehensive 21
Note D - Other Comprehensive Loss (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Defined Benefit Pension Plan Unrealized Gains (Losses) on Cash Flow Hedges Total Balance as of June 30, 2017 $ (491 ) $ (414 ) $ (905 ) OCI/OCL before reclassifications — (1,953 ) (1,953 ) Amounts reclassified from OCI — 178 178 Tax effect of OCI activity — 641 641 Net current period OCI/OCL — (1,134 ) (1,134 ) Balance as of September 30, 2017 $ (491 ) $ (1,548 ) $ (2,039 ) Balance as of June 30, 201 6 $ (775 ) $ 95 $ (680 ) OCI/OCL before reclassifications — (452 ) (452 ) Amounts reclassified from OCI — (158 ) (158 ) Tax effect of OCI activity — 220 220 Net current period OCI/OCL — (390 ) (390 ) Balance as of September 30, 201 6 $ (775 ) $ (295 ) $ (1,070 ) |
Note F - Economic Dependency (T
Note F - Economic Dependency (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Supplier Concentration Risk [Member] | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Three months Ended September 30, 201 7 2016 Supplier 1 $ 1,967 (b) $ 1,967 (a) |
Customer Concentration Risk [Member] | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Three months Ended September 30, 2017 2016 Customer 1 $ 13,157 $ 17,090 Customer 2 3,161 (a) $ 16,318 $ 17,090 |
Note G - Segment Information (T
Note G - Segment Information (Tables) | 3 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended September 30, 2017 2016 Net Sales Private label contract manufacturing $ 22,222 $ 27,379 Patent and trademark licensing 5,852 6,688 Total $ 28,074 $ 34,067 Three Months Ended September 30, 201 7 201 6 Income from Operations Private label contract manufacturing $ 2,257 $ 3,314 Patent and trademark li censing 1,188 1,900 Income from operations of reportable segments 3,445 5,214 Corporate expenses not allocated to segments (1,562 ) (1,678 ) Total net sales $ 1,883 $ 3,536 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | September 30, 201 7 June 30, 201 7 Total Assets Private label contract manufacturing $ 67,795 $ 60,489 Patent and trademark licensing 13,154 12,122 Total assets $ 80,949 $ 72,611 |
Revenue from External Customers by Geographic Areas [Table Text Block] | Three Months Ended September 30, 201 7 2016 United States $ 15,194 $ 15,225 Markets outside the Unite d States 12,880 18,842 Total net sales $ 28,074 $ 34,067 |
Long-lived Assets by Geographic Areas [Table Text Block] | Long-Lived Assets Total Assets Capital Expenditures Three Months Ended September 30, 201 7 June 30, 201 7 September 30, 201 7 June 30, 201 7 September 30, 201 7 September 30, 2 01 6 United States $ 10,491 $ 10,753 $ 53,045 $ 47,777 $ 89 $ 1,227 Europe 7,878 7,383 27,904 24,834 867 489 $ 18,369 $ 18,136 $ 80,949 $ 72,611 $ 956 $ 1,716 |
Note A - Basis of Presentatio24
Note A - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) - USD ($) xbrli-pure in Thousands | Sep. 30, 2017 | Aug. 07, 2017 | Sep. 30, 2017 | Sep. 30, 2016 | Jun. 30, 2017 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 | |||
Sales Discounts, Noncash | $ 163,000 | ||||
Royalty and Licensing Revenue | 5,900,000 | 6,700,000 | |||
Royalty Expense | 284,000 | $ 316,000 | |||
Notes, Loans and Financing Receivable, Net, Current | $ 1,500,000 | $ 1,500,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 5,000 | 0 | |||
Allocated Share-based Compensation Expense | $ 301,000 | $ 250,000 | |||
Foreign Currency Contracts, Liability, Fair Value Disclosure | 2,300,000 | 2,300,000 | 521,000 | ||
Fair Value, Inputs, Level 1 [Member] | |||||
Fair Value, Net Asset (Liability) | 0 | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | |||||
Fair Value, Net Asset (Liability) | 0 | 0 | $ 0 | ||
Juice Plus + [Member] | |||||
Agreement, Term | 5 years | ||||
Kaged Muscle LLC [Member] | Notes Receivable [Member] | |||||
Notes, Loans and Financing Receivable, Net, Current | $ 1,500,000 | 1,500,000 | |||
Notes, Loans and Financing Receivable, Term | 1 year | ||||
Notes, Loans and Financing Receivable, Interest Rate, Stated Percentage | $ 15 | $ 15 | |||
Restricted Stock [Member] | 2009 Omnibus Stock Incentive Plan [Member] | Employees [Member] | |||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 0 | ||||
Restricted Stock [Member] | 2009 Omnibus Stock Incentive Plan [Member] | Management [Member] | |||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 10,000 | ||||
Restricted Stock [Member] | Juice Plus + [Member] | |||||
Stock Issuance Agreement, Shares Agreed to Grant | 500,000 | ||||
Sales Discounts, Noncash | $ 163,000 | ||||
Employee Stock Option [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% |
Note A - Basis of Presentatio25
Note A - Basis of Presentation and Summary of Significant Accounting Policies - Calculation of Basic and Diluted Net Income Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Numerator | ||
Net income | $ 1,434 | $ 2,490 |
Denominator | ||
Basic weighted average common shares outstanding (in shares) | 6,606,518 | 6,558,395 |
Dilutive effect of stock options (in shares) | 224,000 | 89,000 |
Diluted weighted average common shares outstanding (in shares) | 6,831,230 | 6,646,963 |
Basic net income per common share (in dollars per share) | $ 0.22 | $ 0.38 |
Diluted net income per common share (in dollars per share) | $ 0.21 | $ 0.37 |
Note B - Inventories, Net - Sum
Note B - Inventories, Net - Summary of Inventories (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 |
Raw materials | $ 13,828 | $ 9,469 |
Work in progress | 3,562 | 1,312 |
Finished goods | 2,269 | 3,562 |
Reserves | (663) | (614) |
Inventories, net | $ 18,996 | $ 13,729 |
Note C - Property and Equipme27
Note C - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2017 | Jun. 30, 2017 | |
Property and equipment, gross | $ 51,221 | $ 50,301 |
Less: accumulated depreciation and amortization | (32,852) | (32,165) |
Property and equipment, net | 18,369 | 18,136 |
Land [Member] | ||
Property and equipment, gross | 1,200 | 1,200 |
Building and Building Improvements [Member] | ||
Property and equipment, gross | $ 3,680 | 3,706 |
Building and Building Improvements [Member] | Minimum [Member] | ||
Depreciable Life In Years (Year) | 7 years | |
Building and Building Improvements [Member] | Maximum [Member] | ||
Depreciable Life In Years (Year) | 39 years | |
Machinery and Equipment [Member] | ||
Property and equipment, gross | $ 24,900 | 24,194 |
Machinery and Equipment [Member] | Minimum [Member] | ||
Depreciable Life In Years (Year) | 3 years | |
Machinery and Equipment [Member] | Maximum [Member] | ||
Depreciable Life In Years (Year) | 12 years | |
Office Equipment [Member] | ||
Property and equipment, gross | $ 4,073 | 3,954 |
Office Equipment [Member] | Minimum [Member] | ||
Depreciable Life In Years (Year) | 3 years | |
Office Equipment [Member] | Maximum [Member] | ||
Depreciable Life In Years (Year) | 5 years | |
Vehicles [Member] | ||
Property and equipment, gross | $ 209 | 209 |
Depreciable Life In Years (Year) | 3 years | |
Leasehold Improvements [Member] | ||
Property and equipment, gross | $ 17,159 | $ 17,038 |
Leasehold Improvements [Member] | Minimum [Member] | ||
Depreciable Life In Years (Year) | 1 year | |
Leasehold Improvements [Member] | Maximum [Member] | ||
Depreciable Life In Years (Year) | 15 years |
Note D - Other Comprehensive 28
Note D - Other Comprehensive Loss - Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Balance | $ (905) | |
Balance | (2,039) | |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||
Balance | (491) | $ (775) |
OCI/OCL before reclassifications | ||
Amounts reclassified from OCI | ||
Tax effect of OCI activity | ||
Net current period OCI/OCL | ||
Balance | (491) | (775) |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||
Balance | (414) | 95 |
OCI/OCL before reclassifications | (1,953) | (452) |
Amounts reclassified from OCI | 178 | (158) |
Tax effect of OCI activity | 641 | 220 |
Net current period OCI/OCL | (1,134) | (390) |
Balance | (1,548) | (295) |
AOCI Attributable to Parent [Member] | ||
Balance | (905) | (680) |
OCI/OCL before reclassifications | (1,953) | (452) |
Amounts reclassified from OCI | 178 | (158) |
Tax effect of OCI activity | 641 | 220 |
Net current period OCI/OCL | (1,134) | (390) |
Balance | $ (2,039) | $ (1,070) |
Note E - Debt (Details Textual)
Note E - Debt (Details Textual) - USD ($) | 3 Months Ended | ||
Sep. 30, 2017 | Sep. 29, 2017 | Mar. 28, 2017 | |
Proceeds from Long-term Lines of Credit | $ 0 | ||
Line of Credit Facility, Remaining Borrowing Capacity | 10,000,000 | ||
Wells Fargo Bank, N.A. [Member] | Credit Agreement [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 1,500,000 | $ 10,000,000 | |
Line of Credit Facility, Maximum Lending Capacity Using Borrowed Funds | $ 1,500,000 | ||
Line of Credit Facility, Commitment Fee Amount | 0 | ||
Long-term Line of Credit | 0 | ||
Long-term Debt, Percentage Bearing Fluctuating Interest, Threshold Amount | 100,000 | ||
Minimum Prepayment Amount Under Line of Credit | $ 100,000 | ||
Wells Fargo Bank, N.A. [Member] | Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 1.25% | ||
Debt Instrument Basis Spread on Elected Fixed Rate Borrowing | 1.25% | ||
Wells Fargo Bank, N.A. [Member] | Credit Agreement [Member] | Maximum [Member] | |||
Ratio of Indebtedness to Net Capital | 1.25 | ||
Ratio of Total Current Assets to Total Current Liabilities | 1.75 |
Note F - Economic Dependency -
Note F - Economic Dependency - Substantial Net Sales to Certain Customers (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | ||
Net sales | $ 28,074 | $ 34,067 | |
Customer Concentration Risk [Member] | Sales Revenue, Goods, Net [Member] | |||
Net sales | 16,318 | 17,090 | |
Customer Concentration Risk [Member] | Sales Revenue, Goods, Net [Member] | Customer 1 [Member] | |||
Net sales | 13,157 | 17,090 | |
Customer Concentration Risk [Member] | Sales Revenue, Goods, Net [Member] | Customer 2 [Member] | |||
Net sales | $ 3,161 | [1] | |
[1] | Sales were less than 10% of the respective period's total private label contract manufacturing net sales. |
Note F - Economic Dependency 31
Note F - Economic Dependency - Substantial Net Purchase From Certain Supplier (Details) - Supplier Concentration Risk [Member] - Raw Material Purchases [Member] - USD ($) $ in Thousands | 3 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | [1] | |
Raw Material Purchases by Supplier | $ 1,967 | ||
Supplier 1 [Member] | |||
Raw Material Purchases by Supplier | $ 1,967 | ||
[1] | Purchases were less than 10% of the respective period's total raw material purchases. |
Note G - Segment Information (D
Note G - Segment Information (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Number of Reportable Segments | 2 | |
Revenue, Net | $ 28,074 | $ 34,067 |
Non-US [Member] | ||
Revenue, Net | 12,880 | 18,842 |
UNITED STATES | ||
Revenue, Net | $ 15,194 | $ 15,225 |
Products Manufactured by NAIE [Member] | Non-US [Member] | Sales Revenue, Net [Member] | Product Concentration Risk [Member] | ||
Concentration Risk, Percentage | 75.00% | 48.00% |
Products Manufactured by NAIE [Member] | UNITED STATES | ||
Revenue, Net | $ 0 | $ 0 |
Note G - Segment Information -
Note G - Segment Information - Operating Results by Business Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Net sales | $ 28,074 | $ 34,067 |
Income from operations | 1,883 | 3,536 |
Operating Segments [Member] | ||
Income from operations | 3,445 | 5,214 |
Corporate, Non-Segment [Member] | ||
Income from operations | (1,562) | (1,678) |
Private Label Contract Manufacturing [Member] | ||
Net sales | 22,222 | 27,379 |
Private Label Contract Manufacturing [Member] | Operating Segments [Member] | ||
Income from operations | 2,257 | 3,314 |
Patent and Trademark Licensing [Member] | ||
Net sales | 5,852 | 6,688 |
Patent and Trademark Licensing [Member] | Operating Segments [Member] | ||
Income from operations | $ 1,188 | $ 1,900 |
Note G - Segment Information 34
Note G - Segment Information - Assets by Business Segment (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 |
Total assets | $ 80,949 | $ 72,611 |
Private Label Contract Manufacturing [Member] | ||
Total assets | 67,795 | 60,489 |
Patent and Trademark Licensing [Member] | ||
Total assets | $ 13,154 | $ 12,122 |
Note G - Segment Information 35
Note G - Segment Information - Net Sales by Geographic Region (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Net sales | $ 28,074 | $ 34,067 |
UNITED STATES | ||
Net sales | 15,194 | 15,225 |
Non-US [Member] | ||
Net sales | $ 12,880 | $ 18,842 |
Note G - Segment Information 36
Note G - Segment Information - Assets and Capital Expenditures by Geographical Region (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Jun. 30, 2017 | |
Long-Lived Assets | $ 18,369 | $ 18,136 | |
Total assets | 80,949 | 72,611 | |
Capital Expenditures | 956 | $ 1,716 | |
UNITED STATES | |||
Long-Lived Assets | 10,491 | 10,753 | |
Total assets | 53,045 | 47,777 | |
Capital Expenditures | 89 | 1,227 | |
Europe [Member] | |||
Long-Lived Assets | 7,878 | 7,383 | |
Total assets | 27,904 | $ 24,834 | |
Capital Expenditures | $ 867 | $ 489 |
Note H - Income Taxes (Details
Note H - Income Taxes (Details Textual) $ in Thousands | 3 Months Ended |
Sep. 30, 2017USD ($) | |
Effective Income Tax Rate Reconciliation, Percent | 28.00% |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 0 |
Earliest Tax Year [Member] | Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |
Open Tax Year | 2,014 |
Earliest Tax Year [Member] | State and Local Jurisdiction [Member] | |
Open Tax Year | 2,007 |
Earliest Tax Year [Member] | Foreign Tax Authority [Member] | Swiss Federal Tax Administration (FTA) [Member] | |
Open Tax Year | 2,015 |
Note I - Treasury Stock (Detail
Note I - Treasury Stock (Details Textual) - USD ($) | 3 Months Ended | |||||
Sep. 30, 2017 | Sep. 30, 2016 | Mar. 28, 2017 | May 11, 2015 | Feb. 06, 2015 | Jun. 02, 2011 | |
Stock Repurchase Program, Authorized Amount | $ 7,000,000 | $ 5,000,000 | $ 3,000,000 | $ 2,000,000 | ||
Shares Paid for Tax Withholding for Share Based Compensation | 734 | 6,037 | ||||
Shares Paid for Tax Withholding for Share-based Compensation, Average Cost Per Share | $ 10.70 | $ 13.14 | ||||
Payments Related to Tax Withholding for Share-based Compensation | $ 8,000 | $ 79,000 | ||||
Excluding Restricted Stock Purchased [Member] | ||||||
Treasury Stock, Shares, Acquired | 0 | 0 | ||||
2015 Increase [Member] | ||||||
Stock Repurchase Program, Authorized Amount | $ 2,000,000 | $ 1,000,000 | ||||
2017 Increase [Member] | ||||||
Stock Repurchase Program, Authorized Amount | $ 2,000,000 |
Note J - Derivatives and Hedg39
Note J - Derivatives and Hedging (Details Textual) € in Millions | 3 Months Ended | |||
Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2017EUR (€) | Jun. 30, 2017USD ($) | |
Gain (Loss) on Cash Flow Hedge Ineffectiveness, Net | $ 0 | |||
Unrealized Loss on Foreign Currency Derivatives, before Tax | 2,400,000 | |||
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value | 2,300,000 | |||
Cash Flow Hedging [Member] | ||||
Derivative Instruments, Loss Recognized in Other Comprehensive Income (Loss), Effective Portion | 2,200,000 | |||
Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion | 422,000 | |||
Derivative Instruments, Gain Recognized in Other Comprehensive Income (Loss), Effective Portion | $ 452,000 | |||
Derivative Instruments, Loss Reclassified from Accumulated OCI into Income, Effective Portion | $ 58,000 | |||
Forward Contract [Member] | ||||
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value | 1,600,000 | |||
Other Noncurrent Liabilities [Member] | ||||
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value | 689,000 | $ 99,000 | ||
Accrued Liabilities [Member] | ||||
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value | $ 422,000 | |||
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months | (1,600,000) | |||
Cash Flow Hedging Foreign Exchange Contract [Member] | ||||
Derivative, Notional Amount | $ 62,700,000 | € 54.2 |