Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Jun. 30, 2018 | Sep. 07, 2018 | Dec. 29, 2017 | |
Document Information [Line Items] | |||
Entity Registrant Name | MAM SOFTWARE GROUP, INC. | ||
Entity Central Index Key | 832,488 | ||
Trading Symbol | mams | ||
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) | 12,595,085 | ||
Entity Public Float | $ 40,676,424 | ||
Document Type | 10-K | ||
Document Period End Date | Jun. 30, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Current Assets | ||
Cash and cash equivalents | $ 4,171 | $ 1,260 |
Accounts receivable, net of allowance of $224 and $332, respectively | 5,010 | 4,873 |
Inventories | 170 | 154 |
Prepaid expenses and other current assets | 1,270 | 1,260 |
Income tax receivable | 168 | |
Total Current Assets | 10,621 | 7,715 |
Property and Equipment, Net | 480 | 511 |
Other Assets | ||
Goodwill | 8,280 | 8,191 |
Intangible assets, net | 9,457 | 8,273 |
Deferred income taxes | 1,251 | 1,679 |
Other long-term assets | 545 | 283 |
TOTAL ASSETS | 30,634 | 26,652 |
Current Liabilities | ||
Accounts payable | 1,318 | 1,334 |
Accrued expenses and other liabilities | 1,201 | 1,137 |
Accrued payroll and related expenses | 2,146 | 1,605 |
Current portion of long-term debt | 1,811 | 1,734 |
Current portion of deferred revenue | 1,885 | 1,477 |
Sales tax payable | 910 | 761 |
Income tax payable | 669 | 506 |
Total Current Liabilities | 9,940 | 8,554 |
Long-Term Liabilities | ||
Deferred revenue, net of current portion | 1,146 | 772 |
Deferred income taxes | 789 | 682 |
Income tax payable, net of current portion | 232 | |
Long-term debt, net of current portion | 4,581 | 6,386 |
Other long-term liabilities | 426 | 583 |
Total Liabilities | 17,114 | 16,977 |
Commitments and Contingencies | ||
Stockholders' Equity | ||
Preferred stock: Par value $0.0001 per share; 2,000 shares authorized, none issued and outstanding | 0 | 0 |
Common stock: Par value $0.0001 per share; 18,000 shares authorized, 12,593 shares issued and 12,588 shares outstanding at June 30, 2018, and 12,313 shares issued and 12,308 shares outstanding at June 30, 2017 | 1 | 1 |
Additional paid-in capital | 14,768 | 14,180 |
Accumulated other comprehensive loss | (3,236) | (3,283) |
Retained earnings (accumulated deficit) | 2,003 | (1,207) |
Treasury stock at cost, 5 shares at June 30, 2018 and June 30, 2017 | (16) | (16) |
Total Stockholders' Equity | 13,520 | 9,675 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 30,634 | 26,652 |
Amortizable Intangible Assets, Except Computer Software [Member] | ||
Other Assets | ||
Intangible assets, net | 568 | 639 |
Computer Software, Intangible Asset [Member] | ||
Other Assets | ||
Intangible assets, net | $ 8,889 | $ 7,634 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Accounts receivable, allowance | $ 224 | $ 332 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (in shares) | 2,000 | 2,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 18,000 | 18,000 |
Common stock, shares issued (in shares) | 12,593 | 12,313 |
Common stock, shares outstanding (in shares) | 12,588 | 12,308 |
Treasury stock, shares (in shares) | 5 | 5 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Net revenues | $ 35,777,000 | $ 31,596,000 |
Cost of revenues | 16,088,000 | 14,193,000 |
Gross Profit | 19,689,000 | 17,403,000 |
Operating Expenses | ||
Research and development | 4,734,000 | 3,791,000 |
Sales and marketing | 3,458,000 | 3,659,000 |
General and administrative | 6,366,000 | 5,505,000 |
Depreciation and amortization | 237,000 | 231,000 |
Total Operating Expenses | 14,795,000 | 13,186,000 |
Operating Income | 4,894,000 | 4,217,000 |
Other Income (Expense) | ||
Interest expense, net | (411,000) | (559,000) |
Total other expense, net | (411,000) | (559,000) |
Income before provision (benefit) for income taxes | 4,483,000 | 3,658,000 |
Provision (benefit) for income taxes | 1,273,000 | (920,000) |
Net Income | $ 3,210,000 | $ 4,578,000 |
Earnings per share attributed to common stockholders - basic (in dollars per share) | $ 0.27 | $ 0.39 |
Earnings per share attributed to common stockholders - diluted (in dollars per share) | $ 0.27 | $ 0.39 |
Weighted average common shares outstanding – basic (in shares) | 11,849 | 11,732 |
Weighted average common shares outstanding – diluted (in shares) | 11,906 | 11,786 |
Net income | $ 3,210,000 | $ 4,578,000 |
Foreign currency translation gain (loss) | 47,000 | (298,000) |
Total Comprehensive Income | $ 3,257,000 | $ 4,280,000 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Jun. 30, 2016 | 13,199,000 | (790,000) | |||||
Balance at Jun. 30, 2016 | $ 1,000 | $ 16,162,000 | $ (2,374,000) | $ (2,985,000) | $ (5,785,000) | $ 5,019,000 | |
Common stock issued as compensation – Includes amortization of unvested shares (See Note 7) (in shares) | 68,000 | ||||||
Common stock issued as compensation – Includes amortization of unvested shares (See Note 7) | 510,000 | 510,000 | |||||
Forfeiture of restricted stock (in shares) | (187,000) | ||||||
Forfeiture of restricted stock | |||||||
Common stock surrendered to pay for tax withholding (in shares) | (26,000) | (26,535) | |||||
Common stock surrendered to pay for tax withholding | (150,000) | $ (150,000) | |||||
Common stock issued for options exercised (in shares) | 44,000 | ||||||
Common stock issued for options exercised | 16,000 | 16,000 | |||||
Retirement of treasury stock (in shares) | (785,000) | 785,000 | |||||
Retirement of treasury stock | (2,358,000) | $ 2,358,000 | |||||
Foreign currency translation | (298,000) | (298,000) | |||||
Net income | 4,578,000 | 4,578,000 | |||||
Balance (in shares) at Jun. 30, 2017 | 12,313,000 | (5,000) | |||||
Balance at Jun. 30, 2017 | $ 1,000 | 14,180,000 | $ (16,000) | (3,283,000) | (1,207,000) | 9,675,000 | |
Common stock issued as compensation – Includes amortization of unvested shares (See Note 7) (in shares) | 290,000 | ||||||
Common stock issued as compensation – Includes amortization of unvested shares (See Note 7) | 668,000 | $ 668,000 | |||||
Common stock surrendered to pay for tax withholding (in shares) | (4,000) | (4,531) | |||||
Common stock surrendered to pay for tax withholding | (33,000) | $ (33,000) | |||||
Common stock issued for options exercised (in shares) | 0 | ||||||
Retirement of treasury stock (in shares) | (6,000) | 5,599 | |||||
Retirement of treasury stock | (47,000) | $ 47,000 | |||||
Foreign currency translation | 47,000 | 47,000 | |||||
Net income | 3,210,000 | 3,210,000 | |||||
Repurchase of common stock for treasury (in shares) | (6,000) | ||||||
Repurchase of common stock for treasury | $ (47,000) | (47,000) | |||||
Balance (in shares) at Jun. 30, 2018 | 12,593,000 | (5,000) | |||||
Balance at Jun. 30, 2018 | $ 1,000 | $ 14,768,000 | $ (16,000) | $ (3,236,000) | $ 2,003,000 | $ 13,520,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 3,210 | $ 4,578 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Bad debt expense | 89 | 283 |
Depreciation and amortization | 554 | 537 |
Amortization of debt issuance costs | 41 | 139 |
Deferred tax expense (benefit) | 526 | (1,523) |
Stock-based compensation expense | 564 | 375 |
Changes in assets and liabilities: | ||
Accounts receivable | (188) | (386) |
Inventories | (13) | (169) |
Prepaid expenses and other assets | (259) | (6) |
Income tax receivable | 174 | 352 |
Accounts payable | (29) | (264) |
Accrued expenses and other liabilities | 214 | 514 |
Income tax payable | 316 | 593 |
Accrued payroll and related expenses | 534 | (314) |
Deferred revenue | 771 | 816 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 6,504 | 5,525 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of property and equipment | (110) | (96) |
Capitalized software development costs | (1,542) | (2,729) |
NET CASH USED IN INVESTING ACTIVITIES | (1,652) | (2,825) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Common stock surrendered to pay for tax withholding | (33) | (150) |
Repurchase of common stock for treasury | (47) | |
Payment for acquisition of debt | (144) | |
Proceeds from long-term debt | 9,519 | |
Repayment of long-term debt | (1,776) | (11,081) |
Proceeds from exercise of stock options | 16 | |
NET CASH USED IN FINANCING ACTIVITIES | (1,856) | (1,840) |
Effect of exchange rate changes | (85) | (91) |
Net change in cash and cash equivalents | 2,911 | 769 |
Cash and cash equivalents at beginning of year | 1,260 | 491 |
Cash and cash equivalents at end of year | 4,171 | 1,260 |
Interest | 364 | 413 |
Income taxes | 242 | 11 |
Supplemental disclosures of non-cash investing and financing activities: | ||
Issuance of common stock in settlement of accrued liabilities | 112 | 154 |
Retirement of treasury stock | 47 | 2,358 |
Acquisition of equipment under capital lease | $ 7 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 1. Basis of Presentation MAM Software Group, Inc. ("MAM" or the "Company") is a leading provider of integrated information management solutions and services and a leading provider of cloud-based software solutions for the automotive aftermarket sector. The Company conducts its businesses through wholly owned subsidiaries with operations in Europe and North America. MAM Software Ltd. (“MAM Ltd.”) is based in Tankersley, Barnsley, United Kingdom (“UK”), Origin Software Solutions, Ltd. (“Origin”) is based in the UK (MAM Ltd. and Origin are collectively referred to as “MAM UK”), and MAM Software, Inc. (“MAM NA”) is based in the United States of America ("US") in Blue Bell, Pennsylvania. Principles of Consolidation The consolidated financial statements of the Company include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in the consolidated financial statements. Concentrations of Credit Risk The Company has no Cash and Cash Equivalents In the US, the Company maintains cash balances at financial institutions that are insured by the Federal Deposit Insurance Corporation up to $250,000. may $250,000 In the UK, the Company maintains cash balances at financial institutions that are insured by the Financial Services Compensation Scheme up to 85,000GBP. may 85,000GBP The Company maintains its cash accounts at financial institutions which it believes to be credit worthy. The Company considers all highly liquid debt instruments purchased with original maturities of three not Customers The Company performs periodic evaluations of its customers and maintains allowances for potential credit losses as deemed necessary. The Company generally does not may No 10% June 30, 2018 2017. No 10% June 30, 2018 2017. Segment Reporting The Company operates in one two 280 10 50, Segment Reporting, one 1. The products and services are software and professional services 2. The products are produced through professional services 3. The customers for these products are primarily for the automotive aftermarket 4. The method to distribute these products are via software that the customer can host locally or the Company will host 5. They both operate in a non-regulatory environment Geographic Concentrations The Company conducts business in the US and Canada (US and Canada are collectively referred to as the “NA Market”), and the UK and Ireland (UK and Ireland are collectively referred to as the “UK Market”). For customers headquartered in their respective countries, the Company derived approximately 64% 34% 1% 1% June 30, 2018, 63% 35% 1% 1% June 30, 2017. At June 30, 2018, 76% 24% June 30, 2017, 76% 24% Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the US requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant estimates made by the Company’s management include, but are not Fair Value of Financial Instruments The Company’s financial instruments consist principally of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses, and other liabilities, and long-term debt. Financial assets and liabilities that are remeasured and reported at fair value at each reporting period are classified and disclosed in one three • Level 1 • Level 2 1 • Level 3 Determining which category an asset or liability falls within the hierarchy may The Company classified its contingent acquisition consideration liability in connection with the acquisition of Origin within the Level 3 not $0.5 June 30, 2018 2017. Allowance for Doubtful Accounts The Company maintains allowances for doubtful accounts for estimated losses resulting from the inability of our customers to make required payments. The allowance for doubtful accounts is based on specific identification of customer accounts and its best estimate of the likelihood of potential loss, taking into account such factors as the financial condition and payment history of major customers. The Company evaluates the collectability of its receivables at least quarterly. The allowance for doubtful accounts is subject to estimates based on the historical actual costs of bad debt experienced, total accounts receivable amounts, age of accounts receivable and any knowledge of the customers’ ability or inability to pay outstanding balances. If the financial condition of the Company's customers were to deteriorate, resulting in impairment of their ability to make payments, additional allowances may Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined using the first first Property and Equipment Property and equipment are stated at cost, and are depreciated using the straight-line method over the estimated useful lives of the related assets, ranging from three five Software Development Costs Costs incurred to develop computer software products to be sold or otherwise marketed are charged to expense until technological feasibility of the product has been established. Once technological feasibility has been established, computer software development costs (consisting primarily of internal labor costs) are capitalized and reported at the lower of amortized cost or estimated realizable value. Purchased software development cost is capitalized and recorded at its estimated fair market value. When a product is ready for general release, its capitalized costs are amortized on a product-by-product basis. The annual amortization is the greater of the amounts of: the ratio that current gross revenues for a product bear to the total of current and anticipated future gross revenues for that product and, the straight-line method over the remaining estimated economic life (a period of three ten Amortizable Intangible Assets Amortizable intangible assets consist of completed software technology, customer contracts/relationships, automotive data services, and acquired intellectual property and are recorded at cost. Completed software technology and customer contracts/relationships are amortized using the straight-line method over their estimated useful lives of 9 10 20 10 Goodwill Goodwill is not Goodwill is subject to impairment reviews by applying a fair-value-based test at the reporting unit level, which generally represents operations one June 30, 2018, not no not Goodwill activity for the years ended June 30, 2018 2017 Balance, July 1, 2016 $ 8,363 Effect of exchange rate changes (172 ) Balance, June 30, 2017 $ 8,191 Effect of exchange rate changes 89 Balance, June 30, 2018 $ 8,280 Long-Lived Assets The Company’s management assesses the recoverability of long-lived assets (other than goodwill discussed above) upon the occurrence of a triggering event by determining whether the carrying value of long-lived assets can be recovered through projected undiscounted future cash flows over their remaining useful lives. The amount of long-lived asset impairment, if any, is measured based on fair value and is charged to operations in the period in which long-lived asset impairment is determined by management. At June 30, 2018, no no not Debt Issuance Costs Debt issuance costs represent costs incurred in connection with the issuance of long-term debt. Debt issuance costs are amortized over the term of the financing instrument using the effective interest method. Debt issuance costs are presented in the consolidated balance sheets as an offset against the current and non-current portions of long-term debt. Issuance of Equity Instruments to Non-Employees All issuances of the Company’s equity instruments to non-employees are measured at fair value based upon either the fair value of the equity instruments issued or the fair value of consideration received, whichever is more readily determinable. The majority of stock issuances for non-cash consideration pertains to services rendered by consultants and others and has been valued at the fair value of the equity instruments on the dates issued. The measurement date for the fair value of the equity instruments issued is determined at the earlier of (i) the date at which a commitment for performance by the consultant or vendor is reached or (ii) the date at which the consultant or vendor’s performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instrument is recognized over the term of the consulting agreement. Assets acquired in exchange for the issuance of fully vested, non-forfeitable equity instruments are not Stock-Based Compensation The Company accounts for stock-based compensation under the provisions of ASC No. 718, Compensation - Stock Compensation 718” 718 2016 09 June 30, 2017, no Revenue Recognition Software license revenue is recognized when persuasive evidence of an arrangement exists, delivery of the product component has occurred, the fee is fixed and determinable, and collectability is reasonably assured. If any of these criteria are not The Company accounts for delivered elements in accordance with the selling price when arrangements include multiple product components or other elements and vendor-specific objective evidence exists for the value of all undelivered elements. Revenues on undelivered elements are recognized once delivery is complete. In those instances, in which arrangements include significant customization, contractual milestones, acceptance criteria or other contingencies, the Company accounts for the arrangements using contract accounting, as follows: • when customer acceptance can be estimated, but reliable estimated costs to complete cannot be determined, expenditures are capitalized as work-in process and deferred until completion of the contract at which time the costs and revenues are recognized. • when customer acceptance cannot be estimated based on historical evidence, costs are expensed as incurred and revenue is recognized at the completion of the contract when customer acceptance is obtained. The Company records amounts collected from customers in excess of recognizable revenue as deferred revenue in the accompanying consolidated balance sheets. Revenues for maintenance agreements, software support, online services and information products are recognized ratably over the term of the service agreement. The Company recognizes revenue on a net basis, which excludes sales tax collected from customers and remitted to governmental authorities. Cost of Revenues Cost of revenues primarily consists of expenses related to delivering our service and providing support, amortization expense associated with capitalized software related to our services and acquired developed technologies and certain fees paid to various third third As we continue to invest in new products and services, the amortization expense associated with these capitalizable activities will be included in cost of revenues. Additionally, as we enter into new contracts with third may Advertising Expense The Company expenses advertising costs as incurred. For the years ended June 30, 2018 2017, $0.4 $0.4 Foreign Currency Management has determined that the functional currency of its subsidiaries is the local currency. Assets and liabilities of the UK subsidiaries are translated into US dollars at the year-end exchange rates. Income and expenses are translated at an average exchange rate for the year and the resulting translation gain (loss) adjustments are accumulated as a separate component of stockholders’ equity. The translation gain (loss) adjustment totaled $47,000 0.3 June 30, 2018 2017, Foreign currency gains and losses from transactions denominated in other than respective local currencies are included in income. The Company had no Comprehensive Income Comprehensive income includes all changes in equity (net assets) during a period from non-owner sources. For the years ended June 30, 2018 2017, Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. Deferred taxation is provided in full in respect of timing differences between the treatment of certain items for taxation and accounting purposes. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. The calculation of the Company’s tax liabilities involves dealing with uncertainties in the application of complex tax laws and regulations. ASC 740 may not 740 not may June 30, 2018, $0.2 The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. Basic and Diluted Earnings Per Share Basic earnings per share (“BEPS”) is computed by dividing the net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share (“DEPS”) is computed giving effect to all dilutive potential common shares outstanding during the period. Dilutive potential common shares consist of incremental shares issuable upon the exercise of stock options and warrants using the “treasury stock” method. The computation of DEPS does not June 30, 2018 2017 56,626 54,008, June 30, 2018 2017, 450,178 503,951 not no The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for the years ended June 30 ( 2018 2017 Numerator: Net income $ 3,210 $ 4,578 Denominator: Basic weighted-average shares outstanding 11,849 11,732 Effect of dilutive securities 57 54 Diluted weighted-average diluted shares 11,906 11,786 Earnings per share attributed to common stockholders - basic $ 0.27 $ 0.39 Earnings per share attributed to common stockholders - diluted $ 0.27 $ 0.39 Reclassifications Certain assets were reclassified from inventories to other current assets and other long-term assets and reclassified from other current assets to accounts receivable and certain liabilities were reclassified from accrued expenses to accrued payroll and related expenses and deferred revenues, net of current portion, as of June 30, 2017 no Recent Accounting Pronouncements Recently Adopted Accounting Standards In August 2016, 2016 15, Statement of Cash Flows (Topic 230 ), Classification of Certain Cash Receipts and Cash Payments not July 1, 2017. In August 2014, 2014 15, Presentation of Financial Statements-Going Concern no 1 2 3 4 5 not 6 one June 30, 2018, not no Accounting Standards Not In May 2017, 2017 09, Compensation - Stock Compensation (Topic 718 718. 2017 09 June 30, 2019 not In January 2017, 2017 04, Intangibles-Goodwill and Other (Topic 350 two not 2017 04 June 30, 2021. not 2017 04 In February 2016, 2016 02, Leases 12 June 30, 2021. 2016 02 In May 2014, 2014 09 , Revenue from Contracts with Customers 606 2014 09 July 2015, one 2014 09, December 15, 2017, December 15, 2016. 2014 09 July 1, 2018. not 2014 09 not |
Note 2 - Property and Equipment
Note 2 - Property and Equipment | 12 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 2 . PROPERTY AND EQUIPMENT Property and equipment consist of the following (in thousands): As of June 30, 2018 2017 Leasehold improvements $ 403 $ 396 Computer and office equipment 1,000 928 Equipment under capital leases 17 10 Furniture and equipment 525 476 Total property, plant and equipment 1,945 1,810 Less: accumulated depreciation and amortization (1,465 ) (1,299 ) Total property, plant and equipment, net $ 480 $ 511 Depreciation expense on property and equipment for the years ended June 30, 2018 2017 $0.2 $0.1 |
Note 3 - Intangible Assets
Note 3 - Intangible Assets | 12 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | NOTE 3 . INTANGIBLE ASSETS Intangible assets consist of the following at June 30, 2018 ( Average Estimated Useful Life (in years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Completed software technology 9 to 10 $ 1,077 $ (1,077 ) $ - Customer contracts / relationships 10 535 (535 ) - Automotive data services 20 259 (259 ) - Acquired intellectual property 10 810 (242 ) 568 Software development costs 3 to 10 11,513 (2,624 ) 8,889 Total $ 14,194 $ (4,737 ) $ 9,457 Intangible assets consist of the following at June 30, 2017 ( Average Estimated Useful Life (in years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Completed software technology 9 to 10 $ 1,061 $ (1,061 ) $ - Customer contracts / relationships 10 527 (527 ) - Automotive data services 20 255 (255 ) - Acquired intellectual property 10 798 (159 ) 639 Software development costs 3 to 10 10,331 (2,697 ) 7,634 Total $ 12,972 $ (4,699 ) $ 8,273 For the years ended June 30, 2018 2017, $0.4 $0.4 Estimated future amortization of software development costs and intangibles for the next five Years Ending June 30, 2019 $ 656 2020 1,056 2021 1,031 2022 1,031 2023 1,030 |
Note 4 - Long-term Debt
Note 4 - Long-term Debt | 12 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 4 . LONG-TERM DEBT As of June 30, (dollars in thousands) 2018 2017 Debt obligations: Revolving loan facility $ - $ - Term loan 6,441 8,217 Equipment financing 7 - Less: unamortized debt issuance cost (56 ) (97 ) Total 6,392 8,120 Less current portion (1,811 ) (1,734 ) Long-term debt $ 4,581 $ 6,386 On March 2, 2017, $11.5 $8.75 $2.75 2.75% 3.25%, $133,333 December 1, 2017, $158,333 December 1, 2018, $175,000 August 1, 2021. As of June 30, 2018, not not 65% June 30, 2018, Future minimum payments under long-term debt outstanding at June 30, 2018 For the years ending June 30, 2019 $ 1,846 2020 2,102 2021 2,101 2022 399 Total debt payments $ 6,448 |
Note 5 - Income Taxes
Note 5 - Income Taxes | 12 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 5 . INCOME TAXES The Company is subject to taxation in the US, UK and various US state jurisdictions. The Company’s tax years for 1999 not The Company follows the provisions of ASC 740 10, Income Taxes 740 10 740 10, not not 50% The Company has $0.2 The Company’s practice is to recognize interest and/or penalties related to income matters in income tax expense. During the year ended June 30, 2017, $0.1 not June 30, 2018. The aggregate changes in the balance of unrecognized tax benefits were as follows (in thousands): For the year ended June 30, 2018 2017 Balance, beginning of the year $ 88 $ - Increases for tax positions related to the current year 10 - Increases for tax positions related to prior years 167 88 Decreases due to lapsed statutes of limitations ( ) - Balance, end of year Income before income taxes for the years ended June 30, 2018 2017 As of June 30, 2018 2017 United States of America $ 734 $ 935 United Kingdom 3,749 2,723 Total $ 4,483 $ 3,658 The provision (benefit) for income taxes consists of the following for the years ended June 30, 2018 2017 US US UK Total 2018 Current $ 273 $ 75 $ 399 $ 747 Deferred 477 (50 ) 99 526 Total $ 750 $ 25 $ 498 $ 1,273 2017 Current $ 473 $ 111 $ 19 $ 603 Deferred (1,550 ) (129 ) 156 (1,523 ) Total $ (1,077 ) $ (18 ) $ 175 $ (920 ) On July 1, 2016, 2016 09, 2019 09, not $0.7 July 1, 2016, $0.7 no At June 30, 2018, $1.6 382 383 Through its Section 382 382. June 30, 2011, $0.4 At June 30, 2018, $4.0 $1.3 2019 2024, Significant components of the Company’s net deferred tax assets at June 30, 2018 2017 $1.2 $1.7 June 30, 2018 2017, $3.9 June 30, 2017 three June 30, 2017. not not June 30, 2018 $0.5 The tax effects of temporary differences and carry-forwards that give rise to significant portions of deferred tax assets (liabilities) consist of the following at June 30, 2018 2017 June 30, June 30, 2018 2017 Deferred tax assets: State taxes $ 34 $ 36 Net operating loss carry-forwards 902 1,549 Write-down of investments 1,183 1,716 Deferred revenue 116 - Equity-based compensation 87 63 Reserves and accruals 278 329 Deferred rent 1 4 Tax credits 42 9 Total deferred tax assets 2,643 3,706 Deferred tax liabilities: Foreign intangible and other long-lived assets (872 ) (718 ) Domestic intangible and other long-lived assets (56 ) (110 ) Unremitted foreign earnings (70 ) (165 ) Total deferred tax liabilities (998 ) (993 ) Valuation allowance (1,183 ) (1,716 ) Net deferred tax assets (liabilities) $ 462 $ 997 The provision (benefit) for income taxes for the years ended June 30, 2018 2017 June 30, 2018 2017 Taxes at federal statutory rates $ 1,236 $ 1,244 State taxes, net of federal benefit 98 93 Rate changes 785 289 Unrecognized tax benefits 141 88 Permanent items and other (360 ) 116 Research and development (272 ) (333 ) NOL expiration - 3 Differential in UK corporate tax rate (322 ) (388 ) Unremitted foreign earnings 279 164 Deemed repatriation tax 217 - Stock compensation 5 (237 ) Foreign dividends - 9,452 Foreign tax credits - (7,522 ) Change in valuation allowance (534 ) (3,889 ) (Benefit) provision for income taxes $ 1,273 $ (920 ) A provision had not June 30, 2017, not December 22, 2017, $0.2 The Tax Act was a significant modification of existing U.S. federal tax law and contained several provisions which impacted the provision of the Company in fiscal year end June 30, 2018 21% 35%, January 1, 2018. June 30, 2018, 2017 2018 30, 2018, $0.8 21%. Beginning for tax years starting after December 31, 2017, two 80% January 1, 2018 80% January 1, 2018 not 80% December 31, 2017 may not may For tax years commencing after December 31, 2017, not may no 2025. 50% 100% September 27, 2018 2023. The Tax Act also subjects U.S. corporations to tax on Global Intangible Low-Taxed Income (“GILTI”), which imposes tax on foreign earnings in excess of a deemed return on tangible assets. Due to the complexity of the new GILTI tax rules, the Company is continuing to evaluate this provision for which no not December 2018. In addition, the Tax Act substantially eliminates any element of deferred taxation of foreign income with a US parented multinational group and retains Subpart F income to provide full and immediate taxation of the classes of income under the pre-enactment law and subjects a new broad class of income under Subpart F as well creates new base erosion provisions. |
Note 6 - Commitments and Contin
Note 6 - Commitments and Contingencies | 12 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 6 . COMMITMENTS AND CONTINGENCIES Legal Matters From time to time, the Company is subject to various legal claims and proceedings arising in the ordinary course of business. The ultimate disposition of such a proceeding if initiated could have material adverse effects on the consolidated financial position or results of operations of the Company. There are currently no Indemnities and Guarantees The Company has made certain indemnities and guarantees, under which it may 4 not not not no Operating Leases The Company leases its facilities and certain equipment pursuant to month-to-month and non-cancelable operating lease agreements that expire on various dates through March 2028. $720 $19,800. $0.5 June 30, 2018 2017, For the years ended June 30, 2019 $ 749 2020 688 2021 490 2022 403 2023 236 Thereafter 1,107 Total operating lease obligations $ 3,673 |
Note 7 - Stockholders' Equity
Note 7 - Stockholders' Equity | 12 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 7 . STOCKHOLDERS’ EQUITY Common Stock The Company issues shares of common stock to the non-management members of the Board of Directors under the Company’s 2007 "2007 2017 “2017 three On July 1, 2015, 47,663 2007 three $255,000, On January 6, 2017, 37,795 2017 three $241,000, On July 3, 2017, 34,592 2017 three $220,000, During the years ended June 30, 2018 2017, 30,571 55,010 2007 2017 Treasury Stock During the year ended June 30, 2018, 5,599 $47,000. June 30, 2017, the Company retired 785,000 $2.4 Stock-Based Compensation Stock-based compensation expense for restricted stock and stock issuances of $0.6 $0.4 June 30, 2018 2017, June 30, 2018, $1.3 5.8 A summary of the Company's common stock option activity is presented below (shares in thousands): Options Outstanding Number of Weighted- Weighted- Aggregate Options outstanding - July 1, 2017 68 $ 1.30 Options granted - - Options exercised - - Options cancelled - - Options outstanding - June 30, 2018 68 $ 1.30 3.0 $ 434 Options exercisable - June 30, 2018 68 $ 1.30 3.0 $ 434 Options exercisable and vested - June 30, 2018 68 $ 1.30 3.0 $ 434 The aggregate intrinsic value represents the total pre-tax amount of proceeds, net of the exercise price, which would have been received by the option holders if all option holders had exercised and immediately sold all options with an exercise price lower than the market price of the Company's common stock on June 30, 2018. During the year ended June 30, 2018, 240,000 2017 $1.5 A summary of the Company's restricted common stock activity is presented below (shares in thousands): Weighted Average Number of Shares Initial Value Price (in thousands) Per Share Restricted stock outstanding - July 1, 2017 504 $ 0.94 Issuance of restricted stock 240 6.19 Vesting (294 ) 0.48 Forfeitures - - Restricted stock outstanding - June 30, 2018 450 $ 4.25 The fair value of the restricted stock awards vested was $2.4 June 30, 2018. A summary of the vesting levels of the Company's restricted common stock is presented below (shares in thousands): Weighted Average Number of Initial Value Price Shares Per Share 30 day VWAP per share vesting level (1): $9.00 per share 130 $ 3.22 $10.00 per share 120 $ 4.68 $11.00 per share 120 $ 4.68 $12.00 per share 80 $ 4.68 ( 1 The outstanding restricted stock becomes vested when the Company’s 30 During the years ended June 30, 2018 2017, 4,531 26,535 $33,000 $0.2 Employee Stock Purchase Plan The Company has established Employee Stock Purchase Plans ("ESPP Plans"). Under the ESPP Plans, the Company will grant eligible employees the right to purchase common stock through payroll deductions. US employees purchase stock at a price equal to the lesser of 85 85 100 100 15 During the years ended June 30, 2018 2017, 14,712 13,835 $0.1 January 1, 2017 July 1, 2017 $0.1 June 30, 2016 July 1, 2016, |
Note 8 - Employee Benefit Plans
Note 8 - Employee Benefit Plans | 12 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 8 . EMPLOYEE BENEFIT PLANS The Company has a retirement plan that complies with Section 401 401 100% 3% 401 June 30, 2018 2017 $0.1 $0.1 The Company has a defined contribution retirement plan ("UK Plan") that all UK employees are eligible to participate in. The Company’s contribution to the UK Plan is at the discretion of the Board of Directors. The Company matches 100% 3% June 30, 2018 2017 $0.2 $0.2 |
Note 9 - Subsequent Events
Note 9 - Subsequent Events | 12 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 9 . SUBSEQUENT EVENTS The Company has performed an evaluation of events occurring subsequent to June 30, 2018, 10 no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation MAM Software Group, Inc. ("MAM" or the "Company") is a leading provider of integrated information management solutions and services and a leading provider of cloud-based software solutions for the automotive aftermarket sector. The Company conducts its businesses through wholly owned subsidiaries with operations in Europe and North America. MAM Software Ltd. (“MAM Ltd.”) is based in Tankersley, Barnsley, United Kingdom (“UK”), Origin Software Solutions, Ltd. (“Origin”) is based in the UK (MAM Ltd. and Origin are collectively referred to as “MAM UK”), and MAM Software, Inc. (“MAM NA”) is based in the United States of America ("US") in Blue Bell, Pennsylvania. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements of the Company include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in the consolidated financial statements. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Credit Risk The Company has no |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents In the US, the Company maintains cash balances at financial institutions that are insured by the Federal Deposit Insurance Corporation up to $250,000. may $250,000 In the UK, the Company maintains cash balances at financial institutions that are insured by the Financial Services Compensation Scheme up to 85,000GBP. may 85,000GBP The Company maintains its cash accounts at financial institutions which it believes to be credit worthy. The Company considers all highly liquid debt instruments purchased with original maturities of three not |
Major Customers, Policy [Policy Text Block] | Customers The Company performs periodic evaluations of its customers and maintains allowances for potential credit losses as deemed necessary. The Company generally does not may No 10% June 30, 2018 2017. No 10% June 30, 2018 2017. |
Segment Reporting, Policy [Policy Text Block] | Segment Reporting The Company operates in one two 280 10 50, Segment Reporting, one 1. The products and services are software and professional services 2. The products are produced through professional services 3. The customers for these products are primarily for the automotive aftermarket 4. The method to distribute these products are via software that the customer can host locally or the Company will host 5. They both operate in a non-regulatory environment |
Geographic Concentrations [Policy Text Block] | Geographic Concentrations The Company conducts business in the US and Canada (US and Canada are collectively referred to as the “NA Market”), and the UK and Ireland (UK and Ireland are collectively referred to as the “UK Market”). For customers headquartered in their respective countries, the Company derived approximately 64% 34% 1% 1% June 30, 2018, 63% 35% 1% 1% June 30, 2017. At June 30, 2018, 76% 24% June 30, 2017, 76% 24% |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the US requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant estimates made by the Company’s management include, but are not |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments The Company’s financial instruments consist principally of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses, and other liabilities, and long-term debt. Financial assets and liabilities that are remeasured and reported at fair value at each reporting period are classified and disclosed in one three • Level 1 • Level 2 1 • Level 3 Determining which category an asset or liability falls within the hierarchy may The Company classified its contingent acquisition consideration liability in connection with the acquisition of Origin within the Level 3 not $0.5 June 30, 2018 2017. |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Allowance for Doubtful Accounts The Company maintains allowances for doubtful accounts for estimated losses resulting from the inability of our customers to make required payments. The allowance for doubtful accounts is based on specific identification of customer accounts and its best estimate of the likelihood of potential loss, taking into account such factors as the financial condition and payment history of major customers. The Company evaluates the collectability of its receivables at least quarterly. The allowance for doubtful accounts is subject to estimates based on the historical actual costs of bad debt experienced, total accounts receivable amounts, age of accounts receivable and any knowledge of the customers’ ability or inability to pay outstanding balances. If the financial condition of the Company's customers were to deteriorate, resulting in impairment of their ability to make payments, additional allowances may |
Inventory, Policy [Policy Text Block] | Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined using the first first |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost, and are depreciated using the straight-line method over the estimated useful lives of the related assets, ranging from three five |
Research, Development, and Computer Software, Policy [Policy Text Block] | Software Development Costs Costs incurred to develop computer software products to be sold or otherwise marketed are charged to expense until technological feasibility of the product has been established. Once technological feasibility has been established, computer software development costs (consisting primarily of internal labor costs) are capitalized and reported at the lower of amortized cost or estimated realizable value. Purchased software development cost is capitalized and recorded at its estimated fair market value. When a product is ready for general release, its capitalized costs are amortized on a product-by-product basis. The annual amortization is the greater of the amounts of: the ratio that current gross revenues for a product bear to the total of current and anticipated future gross revenues for that product and, the straight-line method over the remaining estimated economic life (a period of three ten |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Amortizable Intangible Assets Amortizable intangible assets consist of completed software technology, customer contracts/relationships, automotive data services, and acquired intellectual property and are recorded at cost. Completed software technology and customer contracts/relationships are amortized using the straight-line method over their estimated useful lives of 9 10 20 10 |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill Goodwill is not Goodwill is subject to impairment reviews by applying a fair-value-based test at the reporting unit level, which generally represents operations one June 30, 2018, not no not Goodwill activity for the years ended June 30, 2018 2017 Balance, July 1, 2016 $ 8,363 Effect of exchange rate changes (172 ) Balance, June 30, 2017 $ 8,191 Effect of exchange rate changes 89 Balance, June 30, 2018 $ 8,280 |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-Lived Assets The Company’s management assesses the recoverability of long-lived assets (other than goodwill discussed above) upon the occurrence of a triggering event by determining whether the carrying value of long-lived assets can be recovered through projected undiscounted future cash flows over their remaining useful lives. The amount of long-lived asset impairment, if any, is measured based on fair value and is charged to operations in the period in which long-lived asset impairment is determined by management. At June 30, 2018, no no not |
Debt, Policy [Policy Text Block] | Debt Issuance Costs Debt issuance costs represent costs incurred in connection with the issuance of long-term debt. Debt issuance costs are amortized over the term of the financing instrument using the effective interest method. Debt issuance costs are presented in the consolidated balance sheets as an offset against the current and non-current portions of long-term debt. |
Issuance of Equity Instruments to Non-employees [Policy Text Block] | Issuance of Equity Instruments to Non-Employees All issuances of the Company’s equity instruments to non-employees are measured at fair value based upon either the fair value of the equity instruments issued or the fair value of consideration received, whichever is more readily determinable. The majority of stock issuances for non-cash consideration pertains to services rendered by consultants and others and has been valued at the fair value of the equity instruments on the dates issued. The measurement date for the fair value of the equity instruments issued is determined at the earlier of (i) the date at which a commitment for performance by the consultant or vendor is reached or (ii) the date at which the consultant or vendor’s performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instrument is recognized over the term of the consulting agreement. Assets acquired in exchange for the issuance of fully vested, non-forfeitable equity instruments are not |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation The Company accounts for stock-based compensation under the provisions of ASC No. 718, Compensation - Stock Compensation 718” 718 2016 09 June 30, 2017, no |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition Software license revenue is recognized when persuasive evidence of an arrangement exists, delivery of the product component has occurred, the fee is fixed and determinable, and collectability is reasonably assured. If any of these criteria are not The Company accounts for delivered elements in accordance with the selling price when arrangements include multiple product components or other elements and vendor-specific objective evidence exists for the value of all undelivered elements. Revenues on undelivered elements are recognized once delivery is complete. In those instances, in which arrangements include significant customization, contractual milestones, acceptance criteria or other contingencies, the Company accounts for the arrangements using contract accounting, as follows: • when customer acceptance can be estimated, but reliable estimated costs to complete cannot be determined, expenditures are capitalized as work-in process and deferred until completion of the contract at which time the costs and revenues are recognized. • when customer acceptance cannot be estimated based on historical evidence, costs are expensed as incurred and revenue is recognized at the completion of the contract when customer acceptance is obtained. The Company records amounts collected from customers in excess of recognizable revenue as deferred revenue in the accompanying consolidated balance sheets. Revenues for maintenance agreements, software support, online services and information products are recognized ratably over the term of the service agreement. The Company recognizes revenue on a net basis, which excludes sales tax collected from customers and remitted to governmental authorities. |
Cost of Sales, Policy [Policy Text Block] | Cost of Revenues Cost of revenues primarily consists of expenses related to delivering our service and providing support, amortization expense associated with capitalized software related to our services and acquired developed technologies and certain fees paid to various third third As we continue to invest in new products and services, the amortization expense associated with these capitalizable activities will be included in cost of revenues. Additionally, as we enter into new contracts with third may |
Advertising Costs, Policy [Policy Text Block] | Advertising Expense The Company expenses advertising costs as incurred. For the years ended June 30, 2018 2017, $0.4 $0.4 |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Management has determined that the functional currency of its subsidiaries is the local currency. Assets and liabilities of the UK subsidiaries are translated into US dollars at the year-end exchange rates. Income and expenses are translated at an average exchange rate for the year and the resulting translation gain (loss) adjustments are accumulated as a separate component of stockholders’ equity. The translation gain (loss) adjustment totaled $47,000 0.3 June 30, 2018 2017, Foreign currency gains and losses from transactions denominated in other than respective local currencies are included in income. The Company had no |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Comprehensive income includes all changes in equity (net assets) during a period from non-owner sources. For the years ended June 30, 2018 2017, |
Income Tax, Policy [Policy Text Block] | Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. Deferred taxation is provided in full in respect of timing differences between the treatment of certain items for taxation and accounting purposes. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. The calculation of the Company’s tax liabilities involves dealing with uncertainties in the application of complex tax laws and regulations. ASC 740 may not 740 not may June 30, 2018, $0.2 The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. |
Earnings Per Share, Policy [Policy Text Block] | Basic and Diluted Earnings Per Share Basic earnings per share (“BEPS”) is computed by dividing the net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share (“DEPS”) is computed giving effect to all dilutive potential common shares outstanding during the period. Dilutive potential common shares consist of incremental shares issuable upon the exercise of stock options and warrants using the “treasury stock” method. The computation of DEPS does not June 30, 2018 2017 56,626 54,008, June 30, 2018 2017, 450,178 503,951 not no The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for the years ended June 30 ( 2018 2017 Numerator: Net income $ 3,210 $ 4,578 Denominator: Basic weighted-average shares outstanding 11,849 11,732 Effect of dilutive securities 57 54 Diluted weighted-average diluted shares 11,906 11,786 Earnings per share attributed to common stockholders - basic $ 0.27 $ 0.39 Earnings per share attributed to common stockholders - diluted $ 0.27 $ 0.39 |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain assets were reclassified from inventories to other current assets and other long-term assets and reclassified from other current assets to accounts receivable and certain liabilities were reclassified from accrued expenses to accrued payroll and related expenses and deferred revenues, net of current portion, as of June 30, 2017 no |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Recently Adopted Accounting Standards In August 2016, 2016 15, Statement of Cash Flows (Topic 230 ), Classification of Certain Cash Receipts and Cash Payments not July 1, 2017. In August 2014, 2014 15, Presentation of Financial Statements-Going Concern no 1 2 3 4 5 not 6 one June 30, 2018, not no Accounting Standards Not In May 2017, 2017 09, Compensation - Stock Compensation (Topic 718 718. 2017 09 June 30, 2019 not In January 2017, 2017 04, Intangibles-Goodwill and Other (Topic 350 two not 2017 04 June 30, 2021. not 2017 04 In February 2016, 2016 02, Leases 12 June 30, 2021. 2016 02 In May 2014, 2014 09 , Revenue from Contracts with Customers 606 2014 09 July 2015, one 2014 09, December 15, 2017, December 15, 2016. 2014 09 July 1, 2018. not 2014 09 not |
Note 1 - Summary of Significa17
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | Balance, July 1, 2016 $ 8,363 Effect of exchange rate changes (172 ) Balance, June 30, 2017 $ 8,191 Effect of exchange rate changes 89 Balance, June 30, 2018 $ 8,280 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 2018 2017 Numerator: Net income $ 3,210 $ 4,578 Denominator: Basic weighted-average shares outstanding 11,849 11,732 Effect of dilutive securities 57 54 Diluted weighted-average diluted shares 11,906 11,786 Earnings per share attributed to common stockholders - basic $ 0.27 $ 0.39 Earnings per share attributed to common stockholders - diluted $ 0.27 $ 0.39 |
Note 2 - Property and Equipme18
Note 2 - Property and Equipment (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | As of June 30, 2018 2017 Leasehold improvements $ 403 $ 396 Computer and office equipment 1,000 928 Equipment under capital leases 17 10 Furniture and equipment 525 476 Total property, plant and equipment 1,945 1,810 Less: accumulated depreciation and amortization (1,465 ) (1,299 ) Total property, plant and equipment, net $ 480 $ 511 |
Note 3 - Intangible Assets (Tab
Note 3 - Intangible Assets (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Average Estimated Useful Life (in years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Completed software technology 9 to 10 $ 1,077 $ (1,077 ) $ - Customer contracts / relationships 10 535 (535 ) - Automotive data services 20 259 (259 ) - Acquired intellectual property 10 810 (242 ) 568 Software development costs 3 to 10 11,513 (2,624 ) 8,889 Total $ 14,194 $ (4,737 ) $ 9,457 Average Estimated Useful Life (in years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Completed software technology 9 to 10 $ 1,061 $ (1,061 ) $ - Customer contracts / relationships 10 527 (527 ) - Automotive data services 20 255 (255 ) - Acquired intellectual property 10 798 (159 ) 639 Software development costs 3 to 10 10,331 (2,697 ) 7,634 Total $ 12,972 $ (4,699 ) $ 8,273 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Years Ending June 30, 2019 $ 656 2020 1,056 2021 1,031 2022 1,031 2023 1,030 |
Note 4 - Long-term Debt (Tables
Note 4 - Long-term Debt (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | As of June 30, (dollars in thousands) 2018 2017 Debt obligations: Revolving loan facility $ - $ - Term loan 6,441 8,217 Equipment financing 7 - Less: unamortized debt issuance cost (56 ) (97 ) Total 6,392 8,120 Less current portion (1,811 ) (1,734 ) Long-term debt $ 4,581 $ 6,386 |
Schedule of Maturities of Long-term Debt [Table Text Block] | For the years ending June 30, 2019 $ 1,846 2020 2,102 2021 2,101 2022 399 Total debt payments $ 6,448 |
Note 5 - Income Taxes (Tables)
Note 5 - Income Taxes (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | For the year ended June 30, 2018 2017 Balance, beginning of the year $ 88 $ - Increases for tax positions related to the current year 10 - Increases for tax positions related to prior years 167 88 Decreases due to lapsed statutes of limitations ( ) - Balance, end of year |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | As of June 30, 2018 2017 United States of America $ 734 $ 935 United Kingdom 3,749 2,723 Total $ 4,483 $ 3,658 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | US US UK Total 2018 Current $ 273 $ 75 $ 399 $ 747 Deferred 477 (50 ) 99 526 Total $ 750 $ 25 $ 498 $ 1,273 2017 Current $ 473 $ 111 $ 19 $ 603 Deferred (1,550 ) (129 ) 156 (1,523 ) Total $ (1,077 ) $ (18 ) $ 175 $ (920 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | June 30, June 30, 2018 2017 Deferred tax assets: State taxes $ 34 $ 36 Net operating loss carry-forwards 902 1,549 Write-down of investments 1,183 1,716 Deferred revenue 116 - Equity-based compensation 87 63 Reserves and accruals 278 329 Deferred rent 1 4 Tax credits 42 9 Total deferred tax assets 2,643 3,706 Deferred tax liabilities: Foreign intangible and other long-lived assets (872 ) (718 ) Domestic intangible and other long-lived assets (56 ) (110 ) Unremitted foreign earnings (70 ) (165 ) Total deferred tax liabilities (998 ) (993 ) Valuation allowance (1,183 ) (1,716 ) Net deferred tax assets (liabilities) $ 462 $ 997 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | June 30, 2018 2017 Taxes at federal statutory rates $ 1,236 $ 1,244 State taxes, net of federal benefit 98 93 Rate changes 785 289 Unrecognized tax benefits 141 88 Permanent items and other (360 ) 116 Research and development (272 ) (333 ) NOL expiration - 3 Differential in UK corporate tax rate (322 ) (388 ) Unremitted foreign earnings 279 164 Deemed repatriation tax 217 - Stock compensation 5 (237 ) Foreign dividends - 9,452 Foreign tax credits - (7,522 ) Change in valuation allowance (534 ) (3,889 ) (Benefit) provision for income taxes $ 1,273 $ (920 ) |
Note 6 - Commitments and Cont22
Note 6 - Commitments and Contingencies (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | For the years ended June 30, 2019 $ 749 2020 688 2021 490 2022 403 2023 236 Thereafter 1,107 Total operating lease obligations $ 3,673 |
Note 7 - Stockholders' Equity (
Note 7 - Stockholders' Equity (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Options Outstanding Number of Weighted- Weighted- Aggregate Options outstanding - July 1, 2017 68 $ 1.30 Options granted - - Options exercised - - Options cancelled - - Options outstanding - June 30, 2018 68 $ 1.30 3.0 $ 434 Options exercisable - June 30, 2018 68 $ 1.30 3.0 $ 434 Options exercisable and vested - June 30, 2018 68 $ 1.30 3.0 $ 434 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | Weighted Average Number of Shares Initial Value Price (in thousands) Per Share Restricted stock outstanding - July 1, 2017 504 $ 0.94 Issuance of restricted stock 240 6.19 Vesting (294 ) 0.48 Forfeitures - - Restricted stock outstanding - June 30, 2018 450 $ 4.25 |
Schedule of Vesting Level of Restricted Stock [Table Text Block] | Weighted Average Number of Initial Value Price Shares Per Share 30 day VWAP per share vesting level (1): $9.00 per share 130 $ 3.22 $10.00 per share 120 $ 4.68 $11.00 per share 120 $ 4.68 $12.00 per share 80 $ 4.68 |
Note 1 - Summary of Significa24
Note 1 - Summary of Significant Accounting Policies (Details Textual) | 12 Months Ended | |||
Jun. 30, 2018USD ($)shares | Jun. 30, 2017USD ($)shares | Jun. 30, 2018GBP (£) | Jun. 30, 2016USD ($) | |
Number of Reportable Segments | 1 | |||
Number of Operating Segments | 2 | |||
Business Combination, Contingent Consideration, Liability, Total | $ 500,000 | $ 500,000 | ||
Goodwill, Impairment Loss | 0 | |||
Impairment of Long-Lived Assets Held-for-use | 0 | |||
Advertising Expense | 400,000 | 400,000 | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Total | 47,000 | (298,000) | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | 0 | 0 | ||
Unrecognized Tax Benefits, Ending Balance | $ 232,000 | $ 88,000 | ||
Weighted Average Number Diluted Shares Outstanding Adjustment, Total | shares | 56,626 | 54,008 | ||
Nonvested Securities Excluded from Computation of Diluted Earnings Per Share | shares | 450,178 | 503,951 | ||
Income Tax Examination, Penalties Accrued | $ 100,000 | |||
Automotive Data Services [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 20 years | 20 years | ||
Acquired Intellectual Property [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 10 years | 10 years | ||
Minimum [Member] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Minimum [Member] | Computer Software, Intangible Asset [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 3 years | 3 years | ||
Minimum [Member] | Completed Software Technology and Customer Contracts/Relationships [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 9 years | |||
Maximum [Member] | ||||
Property, Plant and Equipment, Useful Life | 5 years | |||
Maximum [Member] | Computer Software, Intangible Asset [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 10 years | 10 years | ||
Maximum [Member] | Completed Software Technology and Customer Contracts/Relationships [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 10 years | |||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||
Number of Major Customers | 0 | 0 | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||||
Number of Major Customers | 0 | 0 | ||
UNITED STATES | ||||
Cash, FDIC Insured Amount | $ 250,000 | |||
Percentage of Property, Plant and Equipment, Net | 24.00% | 24.00% | 24.00% | |
UNITED STATES | Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||
Concentration Risk, Percentage | 34.00% | 35.00% | ||
UNITED KINGDOM | ||||
Cash, FSCS Insured Amount | £ | £ 85,000 | |||
Percentage of Property, Plant and Equipment, Net | 76.00% | 76.00% | 76.00% | |
UNITED KINGDOM | Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||
Concentration Risk, Percentage | 64.00% | 63.00% | ||
IRELAND | Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||
Concentration Risk, Percentage | 1.00% | 1.00% | ||
CANADA | Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||
Concentration Risk, Percentage | 1.00% | 1.00% |
Note 1 - Summary of Significa25
Note 1 - Summary of Significant Accounting Policies - Goodwill Activity (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Balance | $ 8,191 | $ 8,363 |
Effect of exchange rate changes | 89 | (172) |
Balance | $ 8,280 | $ 8,191 |
Note 1 - Summary of Significa26
Note 1 - Summary of Significant Accounting Policies - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Numerator: | ||
Net income | $ 3,210 | $ 4,578 |
Denominator: | ||
Basic weighted-average shares outstanding (in shares) | 11,849,000 | 11,732,000 |
Effect of dilutive securities (in shares) | 56,626 | 54,008 |
Diluted weighted-average diluted shares (in shares) | 11,906,000 | 11,786,000 |
Earnings per share attributed to common stockholders - basic (in dollars per share) | $ 0.27 | $ 0.39 |
Earnings per share attributed to common stockholders - diluted (in dollars per share) | $ 0.27 | $ 0.39 |
Note 2 - Property and Equipme27
Note 2 - Property and Equipment (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Depreciation, Total | $ 0.2 | $ 0.1 |
Note 2 - Property and Equipme28
Note 2 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Property and equipment, gross | $ 1,945 | $ 1,810 |
Less: accumulated depreciation and amortization | (1,465) | (1,299) |
Total property, plant and equipment, net | 480 | 511 |
Leasehold Improvements [Member] | ||
Property and equipment, gross | 403 | 396 |
Computer and Office Equipment [Member] | ||
Property and equipment, gross | 1,000 | 928 |
Assets Held under Capital Leases [Member] | ||
Property and equipment, gross | 17 | 10 |
Furniture and Fixtures [Member] | ||
Property and equipment, gross | $ 525 | $ 476 |
Note 3 - Intangible Assets (Det
Note 3 - Intangible Assets (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Amortization of Intangible Assets, Total | $ 0.4 | $ 0.4 |
Note 3 - Intangible Assets - Su
Note 3 - Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Gross Carrying Amount | $ 14,194 | $ 12,972 |
Accumulated Amortization | (4,737) | (4,699) |
Net Carrying Amount | 9,457 | 8,273 |
Completed Software Technology [Member] | ||
Gross Carrying Amount | 1,077 | 1,061 |
Accumulated Amortization | (1,077) | (1,061) |
Net Carrying Amount | ||
Completed Software Technology [Member] | Minimum [Member] | ||
Average Estimated Useful Life (Year) | 9 years | 9 years |
Completed Software Technology [Member] | Maximum [Member] | ||
Average Estimated Useful Life (Year) | 10 years | 10 years |
Customer Relationships [Member] | ||
Average Estimated Useful Life (Year) | 10 years | 10 years |
Gross Carrying Amount | $ 535 | $ 527 |
Accumulated Amortization | (535) | (527) |
Net Carrying Amount | ||
Automotive Data Services [Member] | ||
Average Estimated Useful Life (Year) | 20 years | 20 years |
Gross Carrying Amount | $ 259 | $ 255 |
Accumulated Amortization | (259) | (255) |
Net Carrying Amount | ||
Acquired Intellectual Property [Member] | ||
Average Estimated Useful Life (Year) | 10 years | 10 years |
Gross Carrying Amount | $ 810 | $ 798 |
Accumulated Amortization | (242) | (159) |
Net Carrying Amount | 568 | 639 |
Computer Software, Intangible Asset [Member] | ||
Gross Carrying Amount | 11,513 | 10,331 |
Accumulated Amortization | (2,624) | (2,697) |
Net Carrying Amount | $ 8,889 | $ 7,634 |
Computer Software, Intangible Asset [Member] | Minimum [Member] | ||
Average Estimated Useful Life (Year) | 3 years | 3 years |
Computer Software, Intangible Asset [Member] | Maximum [Member] | ||
Average Estimated Useful Life (Year) | 10 years | 10 years |
Note 3 - Intangible Assets - Es
Note 3 - Intangible Assets - Estimated Future Amortization of Software Development Costs and Intangibles (Details) $ in Thousands | Jun. 30, 2018USD ($) |
2,018 | $ 656 |
2,019 | 1,056 |
2,020 | 1,031 |
2,021 | 1,031 |
2,022 | $ 1,030 |
Note 4 - Long-term Debt (Detail
Note 4 - Long-term Debt (Details Textual) - USD ($) | Mar. 02, 2017 | Dec. 01, 2017 | Dec. 01, 2018 | Jun. 30, 2018 | Aug. 01, 2021 | Jun. 30, 2017 |
Long-term Debt, Total | $ 6,392,000 | $ 8,120,000 | ||||
Univest Bank and Trust Co. [Member] | New Credit Facility [Member] | ||||||
Debt Agreement, Maximum Borrowing Capacity | $ 11,500,000 | |||||
Long-term Debt, Total | $ 8,750,000 | |||||
Debt Instrument, Periodic Payment, Total | $ 133,333 | |||||
Univest Bank and Trust Co. [Member] | New Credit Facility [Member] | Scenario, Forecast [Member] | ||||||
Debt Instrument, Periodic Payment, Total | $ 158,333 | $ 175,000 | ||||
Univest Bank and Trust Co. [Member] | New Credit Facility [Member] | Either LIBO Rate or Prime Rate [Member] | Minimum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.75% | |||||
Univest Bank and Trust Co. [Member] | New Credit Facility [Member] | Either LIBO Rate or Prime Rate [Member] | Maximum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 3.25% | |||||
Univest Bank and Trust Co. [Member] | New Credit Facility [Member] | Revolving Credit Facility [Member] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,750,000 | |||||
Long-term Line of Credit, Total | $ 0 | |||||
J.P. Morgan Chase Bank, N.A. [Member] | JMP Credit Facility [Member] | ||||||
Percentage of Pledged Stock | 65.00% |
Note 4 - Long-term Debt - Summa
Note 4 - Long-term Debt - Summary of Long-term Debt (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Long-term debt, gross | $ 6,448 | |
Less: unamortized debt issuance cost | (56) | $ (97) |
Long-term debt | 6,392 | 8,120 |
Less current portion | (1,811) | (1,734) |
Long-term debt, noncurrent | 4,581 | 6,386 |
Line of Credit [Member] | ||
Long-term debt, gross | ||
Term Loan [Member] | ||
Long-term debt, gross | 6,441 | 8,217 |
Capital Lease Obligations [Member] | ||
Long-term debt, gross | $ 7 |
Note 4 - Long-term Debt - Futur
Note 4 - Long-term Debt - Future Minimum Payments for Long-term Debt (Details) $ in Thousands | Jun. 30, 2018USD ($) |
2,019 | $ 1,846 |
2,020 | 2,102 |
2,021 | 2,101 |
2,022 | 399 |
Total debt payments | $ 6,448 |
Note 5 - Income Taxes (Details
Note 5 - Income Taxes (Details Textual) - USD ($) | Jul. 01, 2016 | Jun. 30, 2018 | Jun. 30, 2017 |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 0.20 | ||
Income Tax Examination, Penalties Expense | 0 | $ 100,000 | |
Income Tax Expense (Benefit) Continuing Operations Increase (Decrease) | 700,000 | ||
Income Tax Expense (Benefit), Total | 1,273,000 | (920,000) | |
Annual Utilization of Previously Incurred Net Operating Loss | 400,000 | ||
Deferred Tax Assets, Valuation Allowance, Total | 1,183,000 | 1,716,000 | |
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount | 217,000 | ||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 800,000 | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | ||
Deferred Tax Assets, Capital Loss Carryforwards [Member] | |||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ (500,000) | $ (3,900,000) | |
Domestic Tax Authority [Member] | |||
Deferred Tax Assets, Net of Valuation Allowance, Total | 1,600,000 | ||
Operating Loss Carryforwards, Total | 4,000,000 | ||
State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards, Total | $ 1,300,000 | ||
Accounting Standards Update 2016-09 [Member] | |||
Income Tax Expense (Benefit), Total | $ 700,000 |
Note 5 - Income Taxes - Summary
Note 5 - Income Taxes - Summary of Income Tax Contingencies (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Balance | $ 88 | |
Increases for tax positions related to the current year | 10 | |
Increases for tax positions related to prior years | 167 | 88 |
Decreases due to lapsed statutes of limitations | (33) | |
Balance | $ 232 | $ 88 |
Note 5 - Income Taxes - Income
Note 5 - Income Taxes - Income (Loss) Before Income Taxes by Jurisdiction (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Income (loss) before income taxes | $ 4,483 | $ 3,658 |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||
Income (loss) before income taxes | 734 | 935 |
Foreign Tax Authority [Member] | Her Majesty's Revenue and Customs (HMRC) [Member] | ||
Income (loss) before income taxes | $ 3,749 | $ 2,723 |
Note 5 - Income Taxes - Provisi
Note 5 - Income Taxes - Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Current U.S. federal tax expense (benefit) | $ 273 | $ 473 |
Current U.S. state tax expense (benefit) | 75 | 111 |
Current U.K. corporate tax expense (benefit) | 399 | 19 |
Current tax expense (benefit) | 747 | 603 |
Deferred U.S. federal tax expense (benefit) | 477 | (1,550) |
Deferred U.S. state tax expense (benefit) | (50) | (129) |
Deferred U.K. corporate tax expense (benefit) | 99 | 156 |
Deferred tax expense (benefit) | 526 | (1,523) |
Total U.S. federal tax expense (benefit) | 750 | (1,077) |
Total U.S. state tax expense (benefit) | 25 | (18) |
Total U.K. corporate tax expense (benefit) | 498 | 175 |
Total tax expense (benefit) | $ 1,273 | $ (920) |
Note 5 - Income Taxes - Deferre
Note 5 - Income Taxes - Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Deferred tax assets: | ||
State taxes | $ 34 | $ 36 |
Net operating loss carry-forwards | 902 | 1,549 |
Write-down of investments | 1,183 | 1,716 |
Deferred revenue | 116 | |
Equity-based compensation | 87 | 63 |
Reserves and accruals | 278 | 329 |
Deferred rent | 1 | 4 |
Tax credits | 42 | 9 |
Total deferred tax assets | 2,643 | 3,706 |
Deferred tax liabilities: | ||
Foreign intangible and other long-lived assets | (872) | (718) |
Domestic intangible and other long-lived assets | (56) | (110) |
Unremitted foreign earnings | (70) | (165) |
Total deferred tax liabilities | (998) | (993) |
Valuation allowance | (1,183) | (1,716) |
Net deferred tax assets (liabilities) | $ 462 | $ 997 |
Note 5 - Income Taxes - Effecti
Note 5 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Taxes at federal statutory rates | $ 1,236 | $ 1,244 |
State taxes, net of federal benefit | 98 | 93 |
Rate changes | 785 | 289 |
Unrecognized tax benefits | 141 | 88 |
Permanent items and other | (360) | 116 |
Research and development | (272) | (333) |
NOL expiration | 3 | |
Differential in UK corporate tax rate | (322) | (388) |
Unremitted foreign earnings | 279 | 164 |
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount | 217 | |
Stock compensation | 5 | (237) |
Foreign dividends | 9,452 | |
Foreign tax credits | (7,522) | |
Change in valuation allowance | (534) | (3,889) |
Total tax expense (benefit) | $ 1,273 | $ (920) |
Note 6 - Commitments and Cont41
Note 6 - Commitments and Contingencies (Details Textual) - USD ($) | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Operating Leases, Rent Expense, Net, Total | $ 500,000 | $ 500,000 |
Minimum [Member] | ||
Operating Leases, Monthly Rent Payments | 720 | |
Maximum [Member] | ||
Operating Leases, Monthly Rent Payments | $ 19,800 |
Note 6 - Commitments and Cont42
Note 6 - Commitments and Contingencies - Future Annual Minimum Payments Under Non-cancelable Operating Leases (Details) $ in Thousands | Jun. 30, 2018USD ($) |
2,019 | $ 749 |
2,020 | 688 |
2,021 | 490 |
2,022 | 403 |
2,023 | 236 |
Thereafter | 1,107 |
Total operating lease obligations | $ 3,673 |
Note 7 - Stockholders' Equity43
Note 7 - Stockholders' Equity (Details Textual) - USD ($) | Jul. 03, 2017 | Jan. 06, 2017 | Jul. 01, 2015 | Jun. 30, 2018 | Jun. 30, 2017 |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures, Total | 30,571 | 55,010 | |||
Treasury Stock, Retired, Cost Method, Amount | |||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total | 240,000 | ||||
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures, Total | $ 1,500,000 | ||||
Shares Paid for Tax Withholding for Share Based Compensation | 4,531 | 26,535 | |||
Adjustments Related to Tax Withholding for Share-based Compensation | $ 33,000 | $ 150,000 | |||
Restricted Stock [Member] | |||||
Allocated Share-based Compensation Expense, Total | 600,000 | $ 400,000 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 1,300,000 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 5 years 292 days | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 2,400,000 | ||||
Treasury Stock [Member] | |||||
Treasury Stock, Shares, Retired | 5,599 | 785,000 | |||
Treasury Stock, Retired, Cost Method, Amount | $ 47,000 | $ 2,358,000 | |||
Shares Paid for Tax Withholding for Share Based Compensation | |||||
Adjustments Related to Tax Withholding for Share-based Compensation | |||||
LITP 2007 [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | 3 years | |||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures, Total | 47,663 | ||||
Stock Issued During Period, Value, New Issues | $ 255,000 | ||||
EIP 2017 [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | 3 years | |||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures, Total | 34,592 | 37,795 | |||
Stock Issued During Period, Value, New Issues | $ 220,000 | $ 241,000 | |||
Employee Stock Purchase Plan [Member] | |||||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures, Total | 14,712 | 13,835 | |||
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures, Total | $ 100,000 | $ 100,000 | |||
Employee Stock Purchase Plan [Member] | US Employees [Member] | |||||
Common Stock, Percent of Fair Market Value, Exercise Date | 85.00% | ||||
Common Stock, Percent of Fair Market Value, Grant Date | 85.00% | ||||
Employee Stock Purchase Plan [Member] | UK Employees [member] | |||||
Common Stock, Percent of Fair Market Value, Exercise Date | 100.00% | ||||
Common Stock, Percent of Fair Market Value, Grant Date | 100.00% | ||||
Employee Stock Purchase Plan, Employer Matching Contribution, Percent of Share Price | 15.00% |
Note 7 - Stockholders' Equity -
Note 7 - Stockholders' Equity - Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended |
Jun. 30, 2018USD ($)$ / sharesshares | |
Number of options outstanding (in shares) | shares | 68 |
Options outstanding, weighted-average exercise price (in dollars per share) | $ / shares | $ 1.30 |
Number of options granted (in shares) | shares | 0 |
Options granted, weighted-average exercise price (in dollars per share) | $ / shares | $ 0 |
Number of options exercised (in shares) | shares | 0 |
Options exercised, weighted-average exercise price (in dollars per share) | $ / shares | |
Number of options cancelled (in shares) | shares | 0 |
Options cancelled, weighted-average exercise price (in dollars per share) | $ / shares | $ 0 |
Number of options outstanding (in shares) | shares | 68 |
Options outstanding, weighted-average exercise price (in dollars per share) | $ / shares | $ 1.30 |
Options outstanding, weighted-average remaining contractual life (Year) | 3 years |
Options outstanding, aggregate intrinsic value | $ | $ 434 |
Number of options exercisable (in shares) | shares | 68 |
Options exercisable, weighted-average exercise price (in dollars per share) | $ / shares | $ 1.30 |
Options exercisable, weighted-average remaining contractual life (Year) | 3 years |
Options exercisable, aggregate intrinsic value | $ | $ 434 |
Number of options exercisable and vested (in shares) | shares | 68 |
Options exercisable and vested, weighted-average exercise price (in dollars per share) | $ / shares | $ 1.30 |
Options exercisable and vested, weighted-average remaining contractual life (Year) | 3 years |
Options exercisable and vested, aggregate intrinsic value | $ | $ 434 |
Note 7 - Stockholders' Equity45
Note 7 - Stockholders' Equity - Restricted Stock Activity (Details) - Restricted Stock [Member] shares in Thousands | 12 Months Ended |
Jun. 30, 2018$ / sharesshares | |
Number of shares, restricted stock outstanding, beginning balance (in shares) | shares | 504 |
Weighted average initial value price per share, beginning balance (in dollars per share) | $ / shares | $ 0.94 |
Number of shares, issuance of restricted stock (in shares) | shares | 240 |
Weighted average initial value price per share, issuance of restricted stock (in dollars per share) | $ / shares | $ 6.19 |
Number of shares, vesting (in shares) | shares | (294) |
Weighted average initial value price per share, vesting (in dollars per share) | $ / shares | $ 0.48 |
Number of shares, forfeitures (in shares) | shares | |
Weighted average initial value price per share, forfeitures (in dollars per share) | $ / shares | |
Number of shares, restricted stock outstanding, ending balance (in shares) | shares | 450 |
Weighted average initial value price per share, ending balance (in dollars per share) | $ / shares | $ 4.25 |
Note 7 - Stockholders' Equity46
Note 7 - Stockholders' Equity - Vesting Levels of Restricted Stock (Details) - Restricted Stock [Member] - $ / shares shares in Thousands | Jun. 30, 2018 | Jun. 30, 2017 | |
Restricted stock (in shares) | 450 | 504 | |
Weighted average initial value price (in dollars per share) | $ 4.25 | $ 0.94 | |
Share-based Compensation Award, Tranche One [Member] | |||
Restricted stock (in shares) | [1] | 130 | |
Weighted average initial value price (in dollars per share) | [1] | $ 3.22 | |
Share-based Compensation Award, Tranche Two [Member] | |||
Restricted stock (in shares) | [1] | 120 | |
Weighted average initial value price (in dollars per share) | [1] | $ 4.68 | |
Share-based Compensation Award, Tranche Three [Member] | |||
Restricted stock (in shares) | [1] | 120 | |
Weighted average initial value price (in dollars per share) | [1] | $ 4.68 | |
Share-based Compensation Award, Tranche Four [Member] | |||
Restricted stock (in shares) | [1] | 80 | |
Weighted average initial value price (in dollars per share) | [1] | $ 4.68 | |
[1] | The outstanding restricted stock becomes vested when the Company's 30-day volume weighted average price ("VWAP") per share is at or above these levels. |
Note 8 - Employee Benefit Pla47
Note 8 - Employee Benefit Plans (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
U.S. 401(K) Plan [Member] | ||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100.00% | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 3.00% | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 0.1 | $ 0.1 |
UK Plan [Member] | ||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100.00% | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 3.00% | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 0.2 | $ 0.2 |