Ethan Allen Interiors (ETD) 10-Q 28 Oct 15 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Sep. 30, 2015	Oct. 16, 2015
Entity Registrant Name	ETHAN ALLEN INTERIORS INC
Entity Central Index Key	896,156
Trading Symbol	eth
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding (in shares)		28,414,697
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2015	Jun. 30, 2015
Common Class A [Member]
Shareholders' equity:
Class A common stock	$ 489,000	$ 489,000
Cash and cash equivalents	87,008,000	76,182,000
Marketable securities	0	2,198,000
Accounts receivable, less allowance for doubtful accounts of $1,446 at September 30, 2015 and $1,386 at June 30, 2015	12,705,000	12,547,000
Inventories	156,567,000	151,916,000
Prepaid expenses and other current assets	26,591,000	27,831,000
Total current assets	282,871,000	270,674,000
Property, plant and equipment, net	274,745,000	277,035,000
Goodwill and other intangible assets	45,128,000	45,128,000
Restricted cash and investments	7,803,000	8,010,000
Other assets	4,545,000	5,130,000
Total assets	615,092,000	605,977,000
Current maturities of long-term debt	3,041,000	3,034,000
Customer Deposits	66,577,000	67,970,000
Accounts payable	20,148,000	18,946,000
Accrued compensation and benefits	22,724,000	26,896,000
Accrued expenses and other current liabilities	28,981,000	23,816,000
Total current liabilities	141,471,000	140,662,000
Long-term debt	72,464,000	73,203,000
Other long-term liabilities	21,606,000	21,577,000
Total liabilities	235,541,000	235,442,000
Additional paid-in-capital	371,757,000	370,914,000
Less: Treasury stock (at cost)	(605,586,000)	(605,586,000)
Retained earnings	616,230,000	607,079,000
Accumulated other comprehensive income	(3,622,000)	(2,638,000)
Total Ethan Allen Interiors Inc. shareholders' equity	379,268,000	370,258,000
Noncontrolling interests	283,000	277,000
Total shareholders' equity	379,551,000	370,535,000
Total liabilities and shareholders' equity	$ 615,092,000	$ 605,977,000

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015
Accounts receivable, allowance for doubtful accounts	$ 1,446	$ 1,386

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Net sales	$ 190,391	$ 190,706
Cost of sales	85,718	85,903
Gross profit	104,673	104,803
Selling, general and administrative expenses	83,773	84,333
Operating income	20,900	20,470
Interest and other income	126	143
Interest and other related financing costs	456	1,889
Income before income taxes	20,570	18,724
Income tax expense	7,423	6,845
Net income	$ 13,147	$ 11,879
Basic earnings per common share:
Net income per basic share (in dollars per share)	$ 0.46	$ 0.41
Basic weighted average common shares (in shares)	28,410	28,927
Diluted earnings per common share:
Net income per diluted share (in dollars per share)	$ 0.46	$ 0.41
Diluted weighted average common shares (in shares)	28,673	29,248
Comprehensive income:
Net income	$ 13,147	$ 11,879
Other comprehensive income
Currency translation adjustment	(984)	(855)
Other	6	16
Other comprehensive income (loss)	(978)	(839)
Comprehensive income	$ 12,169	$ 11,040

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating activities:
Net income	$ 13,147,000	$ 11,879,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	4,783,000	4,719,000
Compensation expense related to share-based payment awards	427,000	317,000
Provision (benefit) for deferred income taxes	(218,000)	124,000
Loss on disposal of property, plant and equipment	106,000	1,920,000
Other	(482,000)	(37,000)
Change in operating assets and liabilities, net of effects of acquired businesses:
Accounts receivable	(158,000)	(2,663,000)
Inventories	(4,651,000)	(10,639,000)
Prepaid and other current assets	1,519,000	(4,546,000)
Customer Deposits	(1,393,000)	5,574,000
Accounts payable	1,202,000	(4,269,000)
Accrued expenses and other current liabilities	1,269,000	5,687,000
Other assets and liabilities	503,000	(1,258,000)
Net cash provided by operating activities	16,054,000	6,808,000
Investing activities:
Proceeds from the disposal of property, plant & equipment	1,000	3,305,000
Change in restricted cash and investments	207,000	500,000
Capital expenditures	$ (3,138,000)	(5,410,000)
Acquisitions (net of cash acquired)		(1,991,000)
Sales of marketable securities	$ 2,150,000	5,075,000
Other investing activities	52,000	44,000
Net cash provided by (used in) investing activities	(728,000)	1,523,000
Financing activities:
Payments on long-term debt and capital lease obligations	(809,000)	(150,000)
Payment of cash dividends	(3,992,000)	(2,900,000)
Other financing activities, net	447,000	4,000
Net cash provided by (used in) financing activities	(4,354,000)	(3,046,000)
Effect of exchange rate changes on cash	(146,000)	(153,000)
Net increase in cash & cash equivalents	10,826,000	5,132,000
Cash & cash equivalents at beginning of period	76,182,000	109,176,000
Cash & cash equivalents at end of period	$ 87,008,000	$ 114,308,000

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Unaudited) - 3 months ended Sep. 30, 2015 - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
Balance at Jun. 30, 2015	$ 489,000	$ 370,914,000	$ (605,586,000)	$ (2,638,000)	$ 607,079,000	$ 277,000	$ 370,535,000
Stock issued on share-based awards		136,000					136,000
Compensation expense associated with share-based awards		427,000					427,000
Tax benefit associated with exercise of share based awards		$ 280,000					280,000
Dividends declared on common stock					$ (3,996,000)		(3,996,000)
Comprehensive income				$ (984,000)	13,147,000	$ 6,000	12,169,000
Balance at Sep. 30, 2015	$ 489,000	$ 371,757,000	$ (605,586,000)	$ (3,622,000)	$ 616,230,000	$ 283,000	$ 379,551,000

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	(1) Basis of Presentation Ethan Allen Interiors Inc. ("Interiors") is a Delaware corporation incorporated on May 25, 1989. The consolidated financial statements include the accounts of Interiors, its wholly owned subsidiary Ethan Allen Global, Inc. ("Global"), and Global’s subsidiaries (collectively "we", "us", "our", "Ethan Allen", or the "Company"). All intercompany accounts and transactions have been eliminated in the consolidated financial statements. All of Global’s capital stock is owned by Interiors, which has no assets or operating results other than those associated with its investment in Global. We prepare our consolidated financial statements in conformity with accounting principles generally accepted in the United States, which 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. Due to the inherent uncertainty involved in making those estimates, actual results could differ from those estimates. Areas in which significant estimates have been made include, but are not limited to, revenue recognition, the allowance for doubtful accounts receivable, inventory obsolescence, tax valuation allowances, useful lives for property, plant and equipment and definite-lived intangible assets, goodwill and indefinite-lived intangible asset impairment analyses, the evaluation of uncertain tax positions and the fair value of assets acquired and liabilities assumed in business combinations.

Note 2 - Interim Financial Pres

Note 2 - Interim Financial Presentation	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	(2) Interim Financial Presentation In our opinion, all adjustments, consisting only of normal recurring adjustments necessary for fair presentation, have been included in the consolidated financial statements. The results of operations for the three months ended September 30, 2015 are not necessarily indicative of results that may be expected for the entire fiscal year. The interim consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended June 30, 2015.

Note 3 - Income Taxes

Note 3 - Income Taxes	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Income Tax Disclosure [Text Block]	(3) Income Taxes The Company reviews its expected annual effective income tax rates and makes changes on a quarterly basis as necessary based on certain factors such as changes in forecasted annual operating income; changes to actual or forecasted permanent book to tax differences; impacts from future tax audits with state, federal or foreign tax authorities; impacts from tax law changes; or change in judgment as to the realizability of deferred tax assets. The Company identifies items which are not normal and are non-recurring in nature and treats these as discrete events. The tax effect of discrete items is recorded in the quarter in which the discrete events occur. Due to the volatility of these factors, the Company's consolidated effective income tax rate can change significantly on a quarterly basis. The Company conducts business globally and, as a result, the Company or one or more of its subsidiaries files income tax returns in the U.S., various state, and foreign jurisdictions. In the normal course of business, the Company is subject to examination in such domestic and foreign jurisdictions. As of September 30, 2015, the Company and certain subsidiaries are currently under audit in the U.S. from 2008 through 2013. While the amount of uncertain tax benefits with respect to the entities and years under audit may change within the next twelve months, it is not anticipated that any of the changes will be significant. It is reasonably possible that some of these audits may be completed during the next twelve months. It is reasonable to expect that various issues relating to uncertain tax benefits will be resolved within the next twelve months as exams are completed or as statutes expire and will impact the effective tax rate. The Company’s consolidated effective tax rate was 36.1% for the three months ended September 30, 2015, and 36.6% for the three months ended September 30, 2014, respectively. Both the current and prior year effective tax rates primarily include tax expense on that year’s net income, and tax and interest expense on uncertain tax positions, partly offset by the reversal and recognition of some uncertain tax positions.

Note 4 - Restricted Cash and In

Note 4 - Restricted Cash and Investments	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Restricted Assets Disclosure [Text Block]	(4) Restricted Cash and Investments At September 30, 2015 and June 30, 2015, we held $7.8 million and $8.0 million respectively, of restricted cash and investments in lieu of providing letters of credit for the benefit of the provider of our workmen’s compensation insurance and other insurance. These funds can be invested in high quality money market mutual funds, U.S. Treasuries and U.S. Government agency fixed income instruments, and cannot be withdrawn without the prior written consent of the secured party. These assets are carried at cost, which approximates market value and are classified as long-term assets because they are not expected to be used within one year to fund operations. See also Note 12, “Fair Value Measurements".

Note 5 - Marketable Securities

Note 5 - Marketable Securities	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Cash, Cash Equivalents, and Marketable Securities [Text Block]	(5) Marketable Securities At June 30, 2015, the Company held marketable securities of $2.2 million , classified as current assets, consisting of U.S. municipal bonds with maturities of less than one year, which were rated A+/A2 or better by the rating services Standard & Poors (“S&P”) and Moodys Investors Service (“Moodys”) respectively.At September 30, 2015, we did not hold any marketable securities. The municipal bonds all matured and the proceeds were transferred to our operating cash accounts. There were no material realized or unrealized gains or losses for the three months ended September 30, 2015 and September 30, 2014. See also Note 12, “Fair Value Measurements".

Note 6 - Inventories

Note 6 - Inventories	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Inventory Disclosure [Text Block]	(6) Inventories Inventories at September 30, 2015 and June 30, 2015 are summarized as follows (in thousands): September 30, June 30, 2015 2015 Finished goods $ 121,979 $ 118,537 Work in process 11,440 10,537 Raw materials 26,306 25,943 Valuation allowance (3,158 ) (3,101 ) $ 156,567 $ 151,916

Note 7 - Borrowings

Note 7 - Borrowings	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Debt Disclosure [Text Block]	(7) Borrowings Total debt obligations at September 30, 2015 and June 30, 2015 consist of the following (in thousands): September 30, June 30, 2015 2015 Revolving Credit Facility due 10/21/2019 $ 40,000 $ 40,000 Term Loan due 10/21/2019 34,417 35,000 Capital leases 2,342 2,568 Unamortized debt issuance costs (1,254 ) (1,331 ) Total debt 75,505 76,237 Less current maturities 3,041 3,034 Total long-term $ 72,464 $ 73,203 In September 2005, we issued $200.0 million in ten-year senior unsecured notes due October 1, 2015 (the "Senior Notes"). The Company entered into a five year, $150 million senior secured revolving credit and term loan facility on October 21, 2014, as amended January 28, 2015 (the “Facility”). The Facility amended and restated the previous five-year, $50 million secured revolving credit facility in its entirety. The Facility, which expires on October 21, 2019, provides a term loan of up to $35 million and a revolving credit line of up to $115 million, subject to borrowing base availability. During March 2015, we utilized $35 million of the term loan and $40 million of the revolving credit line, along with our available cash to fully redeem our Senior Notes. We incurred financing costs of $1.5 million under the Facility, which are being amortized by the straight-line method, which approximates the interest method, over the remaining life of the Facility. At the Company’s option, revolving loans under the Facility bear interest, based on the average availability, at an annual rate of either (a) the London Interbank Offered rate (“LIBOR”) plus 1.5% to 1.75%, or (b) the higher of (i) the prime rate, (ii) the federal funds effective rate plus 0.50%, or (iii) LIBOR plus 1.0% plus in each case 0.5% to 0.75%. At September 30, 2015 the annual interest rate in effect on the revolving loan was 1.75%. At the Company’s option, term loans under the Facility bear interest, based on the Company’s rent adjusted leverage ratio, at an annual rate of either (a) LIBOR plus 1.75% to 2.25%, or (b) the higher of (i) the prime rate, (ii) the federal funds effective rate plus 0.50%, or (iii) LIBOR plus 1.0% plus in each case 0.75% to 1.25%. At September 30, 2015 the annual interest rate in effect on the term loan was 2.0%. The Company pays a commitment fee of 0.15% to 0.25% per annum on the unused portion of the Facility, and fees on issued letters of credit at an annual rate of 1.5% to 1.75% based on the average availability. Certain payments are restricted if the availability under the revolving credit line falls below 20% of the total revolving credit line, and the Company is subject to pro forma compliance with the fixed charge coverage ratio if applicable. Quarterly installments of principal on the term loan are payable based on a straight line 15 year amortization period, with the balance due at maturity. The Company does not expect to repay the revolving credit line portion of the Facility within the next year. The Facility is secured by all property owned, leased or operated by the Company in the United States and includes certain real property owned by the Company and contains customary covenants which may limit the Company’s ability to incur debt; engage in mergers and consolidations; make restricted payments (including dividends and share repurchases); sell certain assets; and make investments. The Company must maintain at all times a minimum fixed charge coverage ratio of 1.0 to 1.0 for the first year and 1.1 to 1.0 all times thereafter. If the outstanding term loans are less than $17.5 million and the fixed charge coverage ratio equals or exceeds 1.25 to 1.0, the fixed charge coverage ratio ceases to apply and thereafter shall only be triggered if average monthly availability is less than 15% of the amount of the revolving credit line. Our applicable fixed charge coverage ratio was 1.4 to 1.0 at September 30, 2015 and our average availability was 65.0%. The Company intends to use the Facility for working capital and general corporate purposes, including dividend payments and share repurchases, in addition to the refinancing of our Senior Notes which occurred in March 2015. At both September 30, 2015 and June 30, 2015, there was $0.2 million of standby letters of credit outstanding under the Facility and total availability under the Facility of $74.8 million. At both September 30, 2015 and June 30, 2015, we were in compliance with all of the covenants under the Facility. The following table summarizes, as of September 30, 2015, the timing of cash payments related to our outstanding long-term debt obligations for the remaining nine months of fiscal 2016, and each of the five fiscal years subsequent to June 30, 2016, and thereafter (in thousands). Periods ending June 30, 2016 $ 2,532 2017 3,303 2018 2,815 2019 2,396 2020 65,713 2021 and thereafter - Total scheduled debt payments $ 76,759

Note 8 - Litigation

Note 8 - Litigation	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	(8) Litigation We are routinely involved in various investigations or as a defendant in litigation, in the ordinary course of business. We are also subject to various federal, state and local environmental protection laws and regulations and are involved, from time to time, in investigations and proceedings regarding environmental matters. Such investigations and proceedings typically concern air emissions, water discharges, and/or management of solid and hazardous wastes. Under these laws, we and/or our subsidiaries are, or may be, required to remove or mitigate the effects on the environment of the disposal or release of certain hazardous materials. Regulations issued under the Clean Air Act Amendments of 1990 required the industry to reformulate certain furniture finishes or institute process changes to reduce emissions of volatile organic compounds. Compliance with many of these requirements has been facilitated through the introduction of high solids coating technology and alternative formulations. In addition, we have instituted a variety of technical and procedural controls, including reformulation of finishing materials to reduce toxicity, implementation of high velocity low pressure spray systems, development of storm water protection plans and controls, and further development of related inspection/audit teams, all of which have served to reduce emissions per unit of production. We remain committed to implementing new waste minimization programs and/or enhancing existing programs with the objective of (i) reducing the total volume of waste, (ii) limiting the liability associated with waste disposal, and (iii) continuously improving environmental and job safety programs on the factory floor which serve to minimize emissions and safety risks for employees. We will continue to evaluate the most appropriate, cost effective, control technologies for finishing operations and design production methods to reduce the use of hazardous materials in the manufacturing process. We believe that our facilities are in material compliance with all such applicable laws and regulations. Our currently anticipated capital expenditures for environmental control facility matters are not material. Although the outcome of the various claims and proceedings against us cannot be predicted with certainty, management believes that the likelihood is remote that any existing claims or proceedings will have a material adverse effect on our financial position, results of operations or cash flows.

Note 9 - Share-Based Compensati

Note 9 - Share-Based Compensation	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	(9) Share-Based Compensation All options are issued at the closing stock price on each grant date, and have a contractual term of 10 years. A summary of stock option activity occurring during the three months ended September 30, 2015 is presented below: Options Shares Outstanding - June 30, 2015 994,888 Granted 24,367 Exercised (7,328 ) Canceled (forfeited/expired) (10,800 ) Outstanding - September 30, 2015 1,001,127 Exercisable - September 30, 2015 555,252 At September 30, 2015, there were 1,368,833 shares of common stock available for future issuance pursuant to the 1992 Stock Option Plan.

Note 10 - Earnings Per Share

Note 10 - Earnings Per Share	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Earnings Per Share [Text Block]	(10) Earnings Per Share Basic and diluted earnings per share are calculated using the following weighted average share data (in thousands): Three months ended September 30, 2015 2014 Weighted average common shares outstanding for basic calculation 28,410 28,927 Effect of dilutive stock options and other share-based awards 263 321 Weighted average common shares outstanding adjusted for dilution calculation 28,673 29,248 As of September 30, 2015 and 2014, stock options to purchase 576,009 and 541,508 common shares, respectively, were excluded from the respective diluted earnings per share calculations because their impact was anti-dilutive.

Note 11 - Accumulated Other Com

Note 11 - Accumulated Other Comprehensive Income	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	(11) Accumulated Other Comprehensive Income Accumulated other comprehensive income consists of foreign currency translation adjustments which are the result of changes in foreign currency exchange rates related to our operations in Canada, Belgium, Honduras, and Mexico, and exclude income taxes given that the earnings of non-U.S. subsidiaries are deemed to be reinvested for an indefinite time. The table following sets forth the activity in accumulated other comprehensive income for the period ended September 30, 2015 (in thousands). Balance June 30, 2015 $ (2,638 ) Changes before reclassifications $ (984 ) Amounts reclassified from accumulated other comprehensive income $ - Current period other comprehensive income $ (984 ) Balance September 30, 2015 $ (3,622 )

Note 12 - Financial Instruments

Note 12 - Financial Instruments	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Fair Value Disclosures [Text Block]	(12) Fair Value Measurements We determine fair value as the price that would be received upon sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date and in the principal or most advantageous market for that asset or liability. The fair value is calculated based on assumptions that market participants use in pricing the asset or liability, and not on assumptions specific to the Company. In addition, the fair value of liabilities includes consideration of non-performance risk including our own credit risk. Each fair value measurement is reported in one of three levels, determined by the lowest level input that is significant to the fair value measurement in its entirety. These levels are: Level 1 Inputs are based upon unadjusted quoted prices for identical instruments traded in active markets. Level 2 Inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques that include option pricing models, discounted cash flow models, and similar techniques. The following section describes the valuation methodologies we use to measure different financial assets and liabilities at fair value. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table presents our assets and liabilities measured at fair value on a recurring basis at September 30, 2015 and June 30, 2015 (in thousands): September 30, 2015 Level 1 Level 2 Level 3 Balance Cash equivalents $ 94,811 $ - $ - $ 94,811 Available-for-sale securities - - - - Total $ 94,811 $ - $ - $ 94,811 June 30, 2015 Level 1 Level 2 Level 3 Balance Cash equivalents $ 84,192 $ - $ - $ 84,192 Available-for-sale securities - 2,198 - 2,198 Total $ 84,192 $ 2,198 $ - $ 86,390 Cash equivalents consist of money market accounts and mutual funds in U.S. government and agency fixed income securities. We use quoted prices in active markets for identical assets or liabilities to determine fair value. There were no transfers between level 1 and level 2 during the first three months of fiscal 2016 or fiscal 2015. At September 30, 2015 and June 30, 2015, $7.8 million and $8.0 million, respectively, of the cash equivalents were restricted, and classified as long-term assets. At June 30, 2015, available-for-sale securities consisted of $2.2 million in U.S. municipal bonds. The bonds were rated A+/A2 or better by S&P and Moodys, respectively. As of September 30, 2015 and June 30, 2015, there were no material gross unrealized gains or losses on available-for-sale securities. We did not hold any available-for-sale securities on September 30, 2015, as all municipal bonds matured and the proceeds were transferred to our operating cash accounts. At June 30, 2015, the contractual maturities of our available-for-sale securities were as follows: June 30, 2015 Cost Estimated Fair Value Due in one year or less $ 2,296 $ 2,198 Due after one year through five years $ - $ - No investments have been in a continuous loss position for more than one year, and no other-than-temporary impairments were recognized. See also Note 4, "Restricted Cash and Investments" and Note 5, "Marketable Securities". Assets and Liabilities Measured at Fair Value on a Non-recurring Basis We measure certain assets at fair value on a non-recurring basis. These assets are recognized at fair value when they are deemed to be other-than-temporarily impaired. During the three month periods ended September 30, 2015 and 2014, we did not record any other-than-temporary impairments on those assets required to be measured at fair value on a non-recurring basis.

Note 13 - Segment Information

Note 13 - Segment Information	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	(13) Segment Information Our operations are classified into two operating segments: wholesale and retail. These operating segments represent strategic business areas of our vertically integrated business which, although they operate separately and provide their own distinctive services, enable us to more efficiently control the quality and cost of our complete line of home furnishings and accents. The wholesale segment is principally involved in the development of the Ethan Allen brand, which encompasses the design, manufacture, domestic and offshore sourcing, sale and distribution of a full range of home furnishings and accents to a network of independently operated and Ethan Allen operated design centers as well as related marketing and brand awareness efforts. Wholesale revenue is generated upon the wholesale sale and shipment of our product to all retail design centers, including those operated by Ethan Allen. The retail segment sells home furnishings and accents to consumers through a network of Company operated design centers. Retail revenue is generated upon the retail sale and delivery of our product to our customers. Inter-segment eliminations result, primarily, from the wholesale sale of inventory to the retail segment, including the related profit margin. We evaluate performance of the respective segments based upon revenues and operating income. While the manner in which our home furnishings and accessories are marketed and sold is consistent, the nature of the underlying recorded sales (i.e. wholesale versus retail) and the specific services that each operating segment provides (i.e. wholesale manufacturing, sourcing, and distribution versus retail selling) are different. Within each segment, we maintain revenue information according to each respective product line (i.e. case goods, upholstery, or home accents and other). A breakdown of wholesale segment sales by these product lines for the three months ended September 30, 2015 and 2014 is provided as follows: Three months ended September 30, 2015 2014 Case Goods 33 % 36 % Upholstered Products 49 % 46 % Home Accents and Other 18 % 18 % 100 % 100 % A breakdown of retail segment sales by these product lines for the three months ended September 30, 2015 and 2014 is provided as follows: Three months ended September 30, 2015 2014 Case Goods 30 % 33 % Upholstered Products 46 % 44 % Home Accents and Other 24 % 23 % 100 % 100 % Segment information for the three months ended September 30, 2015 and 2014 is provided below (in thousands): Three months ended September 30, 2015 2014 Net sales: Wholesale segment $ 120,455 $ 124,600 Retail segment 146,040 145,043 Elimination of inter-company sales (76,104 ) (78,937 ) Consolidated Total $ 190,391 $ 190,706 Operating income: Wholesale segment $ 20,587 $ 21,542 Retail segment 1,640 1,762 Adjustment of inter-company profit (1) (1,327 ) (2,834 ) Consolidated Total $ 20,900 $ 20,470 Depreciation & Amortization: Wholesale segment $ 1,911 $ 2,094 Retail segment 2,872 2,625 Consolidated Total $ 4,783 $ 4,719 Capital expenditures: Wholesale segment $ 1,516 $ 3,961 Retail segment 1,622 1,449 Acquisitions - 1,991 Consolidated Total $ 3,138 $ 7,401 September 30, June 30, 2015 2015 Total Assets: Wholesale segment $ 306,813 $ 295,949 Retail segment 341,598 341,886 Inventory profit elimination (2) (33,319 ) (31,858 ) Consolidated Total $ 615,092 $ 605,977 (1) Represents the change in wholesale profit contained in the retail segment inventory at the end of the period. (2) Represents the wholesale profit contained in the retail segment inventory that has not yet been realized. These profits are realized when the related inventory is sold.

Note 14 - Recently Issued Accou

Note 14 - Recently Issued Accounting Pronouncements	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	(14) Recently Issued Accounting Pronouncements On April 7, 2015 the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs. The new standard classifies debt issuance costs as a deduction from the debt liability, consistent with debt discounts. Prior to the issuance of ASU 2015-03, these costs were classified as assets. We adopted the provisions of ASU 2015-03 beginning in July 2015 and prior period amounts have been reclassified to conform to the current period presentation. As of June 30, 2015, $0.3 million of debt issuance costs were reclassified in the consolidated balance sheets from other noncurrent assets to current portion of long-term debt and $1.0 million was reclassified from other noncurrent assets to long term debt, less current portion. The adoption of ASU 2015-03 did not impact our consolidated statements of comprehensive income, or our consolidated statements of cash flows.

Note 15 - Subsequent Events

Note 15 - Subsequent Events	3 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Subsequent Events [Text Block]	(15) Subsequent Events Employment Agreement / Share-Based Awards As of September 29, 2015, the Company’s Compensation Committee approved and the independent members of the Company's Board of Directors ratified, subject to stockholder approval of the incentive components at the 2015 annual meeting of stockholders, the terms of the new employment agreement, dated as of October 1, 2015 and effective as of July 1, 2015, between the Company and Mr. Kathwari (the "2015 Employment Agreement"). Pursuant to the 2015 Employment Agreement, the Company agreed to continue to employ Mr. Kathwari and Mr. Kathwari agreed to remain as Chairman, President and Principal Executive Officer of the Company and Ethan Allen Global, Inc., for a period of approximately five years, with two automatic one-year extensions, commencing in 2021. Mr. Kathwari will be entitled to an annual incentive bonus based upon Company performance thresholds, targets, and maximums established by the Compensation Committee and approved by the Board of Directors. Mr. Kathwari will also be entitled to performance-based restricted stock units ("Performance Units") providing a contingent right to receive shares of the Company's common stock, conditioned upon the Company's achievement of certain performance targets and goals. Each fiscal year during the term of Mr. Kathwari's employment under the 2015 Employment Agreement, Mr. Kathwari shall be granted Performance Units entitling Mr. Kathwari to earn 0 to 81,250 shares of the common stock, with each such grant to be made within ninety (90) days of the beginning of each fiscal year, contingent upon the performance of the Company in accordance with the 2015 Employment Agreement. For each grant of Performance Units, the amount of the grant that will be earned and paid will be determined by reference to the achievement of certain performance goals for each of the two initial fiscal years (on a cumulative basis) and the three fiscal years (on a cumulative basis) applicable to such grant.

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	3 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, June 30, 2015 2015 Finished goods $ 121,979 $ 118,537 Work in process 11,440 10,537 Raw materials 26,306 25,943 Valuation allowance (3,158 ) (3,101 ) $ 156,567 $ 151,916

Note 7 - Borrowings (Tables)

Note 7 - Borrowings (Tables)	3 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Debt [Table Text Block]	September 30, June 30, 2015 2015 Revolving Credit Facility due 10/21/2019 $ 40,000 $ 40,000 Term Loan due 10/21/2019 34,417 35,000 Capital leases 2,342 2,568 Unamortized debt issuance costs (1,254 ) (1,331 ) Total debt 75,505 76,237 Less current maturities 3,041 3,034 Total long-term $ 72,464 $ 73,203
Schedule of Maturities of Long-term Debt [Table Text Block]	Periods ending June 30, 2016 $ 2,532 2017 3,303 2018 2,815 2019 2,396 2020 65,713 2021 and thereafter - Total scheduled debt payments $ 76,759

Note 9 - Share-Based Compensa24

Note 9 - Share-Based Compensation (Tables)	3 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Options Shares Outstanding - June 30, 2015 994,888 Granted 24,367 Exercised (7,328 ) Canceled (forfeited/expired) (10,800 ) Outstanding - September 30, 2015 1,001,127 Exercisable - September 30, 2015 555,252

Note 10 - Earnings Per Share (T

Note 10 - Earnings Per Share (Tables)	3 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended September 30, 2015 2014 Weighted average common shares outstanding for basic calculation 28,410 28,927 Effect of dilutive stock options and other share-based awards 263 321 Weighted average common shares outstanding adjusted for dilution calculation 28,673 29,248

Note 11 - Accumulated Other C26

Note 11 - Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Balance June 30, 2015 $ (2,638 ) Changes before reclassifications $ (984 ) Amounts reclassified from accumulated other comprehensive income $ - Current period other comprehensive income $ (984 ) Balance September 30, 2015 $ (3,622 )

Note 12 - Financial Instrumen27

Note 12 - Financial Instruments (Tables)	3 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	September 30, 2015 Level 1 Level 2 Level 3 Balance Cash equivalents $ 94,811 $ - $ - $ 94,811 Available-for-sale securities - - - - Total $ 94,811 $ - $ - $ 94,811 June 30, 2015 Level 1 Level 2 Level 3 Balance Cash equivalents $ 84,192 $ - $ - $ 84,192 Available-for-sale securities - 2,198 - 2,198 Total $ 84,192 $ 2,198 $ - $ 86,390
Available-for-sale Securities [Table Text Block]	June 30, 2015 Cost Estimated Fair Value Due in one year or less $ 2,296 $ 2,198 Due after one year through five years $ - $ -

Note 13 - Segment Information (

Note 13 - Segment Information (Tables)	3 Months Ended
	Sep. 30, 2015
Total Assets [Member]
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	September 30, June 30, 2015 2015 Total Assets: Wholesale segment $ 306,813 $ 295,949 Retail segment 341,598 341,886 Inventory profit elimination (2) (33,319 ) (31,858 ) Consolidated Total $ 615,092 $ 605,977
Income Statement Section One [Member]
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three months ended September 30, 2015 2014 Net sales: Wholesale segment $ 120,455 $ 124,600 Retail segment 146,040 145,043 Elimination of inter-company sales (76,104 ) (78,937 ) Consolidated Total $ 190,391 $ 190,706 Operating income: Wholesale segment $ 20,587 $ 21,542 Retail segment 1,640 1,762 Adjustment of inter-company profit (1) (1,327 ) (2,834 ) Consolidated Total $ 20,900 $ 20,470 Depreciation & Amortization: Wholesale segment $ 1,911 $ 2,094 Retail segment 2,872 2,625 Consolidated Total $ 4,783 $ 4,719 Capital expenditures: Wholesale segment $ 1,516 $ 3,961 Retail segment 1,622 1,449 Acquisitions - 1,991 Consolidated Total $ 3,138 $ 7,401
Retail Segment [Member]
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Three months ended September 30, 2015 2014 Case Goods 30 % 33 % Upholstered Products 46 % 44 % Home Accents and Other 24 % 23 % 100 % 100 %
Wholesale Segment [Member]
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Three months ended September 30, 2015 2014 Case Goods 33 % 36 % Upholstered Products 49 % 46 % Home Accents and Other 18 % 18 % 100 % 100 %

Note 3 - Income Taxes (Details

Note 3 - Income Taxes (Details Textual)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Effective Income Tax Rate Reconciliation, Percent	36.10%	36.60%

Note 4 - Restricted Cash and 30

Note 4 - Restricted Cash and Investments (Details Textual) - USD ($)	Sep. 30, 2015	Jun. 30, 2015	Sep. 30, 2014
Restricted Cash and Investments, Noncurrent	$ 7,800,000	$ 8,000,000	$ 8,000,000

Note 5 - Marketable Securities

Note 5 - Marketable Securities (Details Textual) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015
Marketable Securities, Current	$ 0		$ 2,198,000
Marketable Securities, Gain (Loss)	$ 0	$ 0

Note 6 - Inventories Summary (D

Note 6 - Inventories Summary (Details) - USD ($)	Sep. 30, 2015	Jun. 30, 2015
Finished goods	$ 121,979,000	$ 118,537,000
Work in process	11,440,000	10,537,000
Raw materials	26,306,000	25,943,000
Valuation allowance	(3,158,000)	(3,101,000)
Inventory, net	$ 156,567,000	$ 151,916,000

Note 7 - Borrowings (Details Te

Note 7 - Borrowings (Details Textual) $ in Millions	Jan. 28, 2015USD ($)	Oct. 21, 2014USD ($)	Sep. 27, 2005USD ($)	Mar. 31, 2015USD ($)	Sep. 30, 2015USD ($)
Senior Notes [Member]
Senior Notes			$ 200
Debt Instrument, Term			10 years
Term Loan [Member] | Maximum [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 50
Term Loan [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 35
Proceeds from Issuance of Long-term Debt				$ 35
Revolving Credit Facility [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Average Availability Option [Member]
Debt Instrument, Basis Spread on Variable Rate	1.75%
Revolving Credit Facility [Member] | Maximum [Member] | Additional Margin on Variable Rate Option [Member]
Debt Instrument, Basis Spread on Variable Rate	0.75%
Revolving Credit Facility [Member] | Maximum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.25%
Revolving Credit Facility [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Average Availability Option [Member]
Debt Instrument, Basis Spread on Variable Rate	1.50%
Revolving Credit Facility [Member] | Minimum [Member] | Additional Margin on Variable Rate Option [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Revolving Credit Facility [Member] | Minimum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.15%
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Average Availability Option B [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Revolving Credit Facility [Member] | Federal Funds Effective Swap Rate [Member] | Average Availability Option B [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 115
Proceeds from Issuance of Long-term Debt				40
Debt Instrument, Covenant, Percentage of Total Revolving Credit	20.00%
Letter of Credit [Member] | Maximum [Member]
Line of Credit Facility, Interest Rate During Period	1.75%
Letter of Credit [Member] | Minimum [Member]
Line of Credit Facility, Interest Rate During Period	1.50%
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Rent Adjusted Leverage Ratio Option [Member] | Term Loan [Member]
Debt Instrument, Basis Spread on Variable Rate	2.25%
Maximum [Member] | Additional Margin on Variable Rate Option [Member] | Term Loan [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Rent Adjusted Leverage Ratio Option [Member] | Term Loan [Member]
Debt Instrument, Basis Spread on Variable Rate	1.75%
Minimum [Member] | Additional Margin on Variable Rate Option [Member] | Term Loan [Member]
Debt Instrument, Basis Spread on Variable Rate	0.75%
London Interbank Offered Rate (LIBOR) [Member] | Average Availability Option B [Member] | Term Loan [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Federal Funds Effective Swap Rate [Member] | Rent Adjusted Leverage Ratio Option [Member] | Term Loan [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Minimum Fixed Charge Coverage Ratio for Year One [Member] | Term Loan [Member]
Fixed Charge Coverage Ratio	1
Minimum Fixed Charge Coverage Ratio Thereafter [Member] | Term Loan [Member]
Fixed Charge Coverage Ratio	1.1
Minimum Fixed Charge Coverage Ratio for Covenant to Cease to Apply [Member] | Term Loan [Member]
Fixed Charge Coverage Ratio	1.25
Minimum Availability Needed to Avoid Re-Triggering Fixed Charge Coverage Ratio Covenant [Member] | Term Loan [Member]
Debt Instrument, Covenant, Percentage of Total Revolving Credit	15.00%
Term Loan [Member]
Debt Instrument, Interest Rate, Effective Percentage					2.00%
Debt Instrument, Amortization Period	15 years
Debt Covenant, Fixed Charge Coverage Ratio, Maximum Outstanding Term Loans	$ 17.5
Debt Instrument, Term		5 years
Line of Credit Facility, Maximum Borrowing Capacity		$ 150
Debt Issuance Cost				$ 1.5
Fixed Charge Coverage Ratio					1.4
Line of Credit Facility, Average Availability					65.00%
Letters of Credit Outstanding, Amount					$ 0.2
Line of Credit Facility, Remaining Borrowing Capacity					$ 74.8

Note 7 - Total Debt Obligations

Note 7 - Total Debt Obligations (Details) - USD ($)	Sep. 30, 2015	Jun. 30, 2015
Revolving Credit Facility [Member]
Revolving Credit Facility due 10/21/2019	$ 40,000,000	$ 40,000,000
Term Loan [Member]
Revolving Credit Facility due 10/21/2019	34,417,000	35,000,000
Revolving Credit Facility due 10/21/2019	76,759,000
Capital leases	2,342,000	2,568,000
Unamortized debt issuance costs	(1,254,000)	(1,331,000)
Long-term Debt	75,505,000	76,237,000
Less current maturities	3,041,000	3,034,000
Total long-term	$ 72,464,000	$ 73,203,000

Note 7 - Aggregate Scheduled Ma

Note 7 - Aggregate Scheduled Maturities of Debt (Details) $ in Thousands	Sep. 30, 2015USD ($)
2,016	$ 2,532
2,017	3,303
2,018	2,815
2,019	2,396
2,020	$ 65,713
2021 and thereafter
Total scheduled debt payments	$ 76,759

Note 9 - Share-Based Compensa36

Note 9 - Share-Based Compensation (Details Textual)	3 Months Ended
	Sep. 30, 2015shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Contractual Term	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	1,368,833

Note 9 - Share-based Compensa37

Note 9 - Share-based Compensation, Stock Options, Activity (Details)	3 Months Ended
	Sep. 30, 2015shares
Outstanding - June 30, 2015 (in shares)	994,888
Granted (in shares)	24,367
Exercised (in shares)	(7,328)
Canceled (forfeited/expired) (in shares)	(10,800)
Outstanding - September 30, 2015 (in shares)	1,001,127
Exercisable - September 30, 2015 (in shares)	555,252

Note 10 - Earnings Per Share (D

Note 10 - Earnings Per Share (Details Textual) - shares	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	576,009	541,508

Note 10 - Calculation of Weight

Note 10 - Calculation of Weighted Average Shares (Details) - shares shares in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Weighted average common shares outstanding for basic calculation (in shares)	28,410	28,927
Effect of dilutive stock options and other share-based awards (in shares)	263	321
Weighted average common shares outstanding adjusted for dilution calculation (in shares)	28,673	29,248

Note 11 - Activity in Accumulat

Note 11 - Activity in Accumulated Other Comprehensive Income (Details)	3 Months Ended
	Sep. 30, 2015USD ($)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance June 30, 2015	$ (2,638,000)
Changes before reclassifications	(984,000)
Amounts reclassified from accumulated other comprehensive income	0
Current period other comprehensive income	(984,000)
Balance September 30, 2015	(3,622,000)
Balance June 30, 2015	(2,638,000)
Balance September 30, 2015	$ (3,622,000)

Note 12 - Financial Instrumen41

Note 12 - Financial Instruments (Details Textual)	3 Months Ended
	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Sep. 30, 2014USD ($)
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year	0
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities	$ 0
Restricted Cash and Investments, Noncurrent	$ 7,800,000	$ 8,000,000	$ 8,000,000
Municipal Debt Securities, at Carrying Value		$ 2,200,000

Note 12 - Assets and Liabilitie

Note 12 - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015
Fair Value, Inputs, Level 1 [Member]
Cash equivalents	$ 94,811	$ 84,192
Available-for-sale securities
Total	$ 94,811	$ 84,192
Fair Value, Inputs, Level 2 [Member]
Cash equivalents
Available-for-sale securities		$ 2,198
Total		$ 2,198
Fair Value, Inputs, Level 3 [Member]
Cash equivalents
Available-for-sale securities
Total
Cash equivalents	$ 94,811	$ 84,192
Available-for-sale securities		2,198
Total	$ 94,811	$ 86,390

Note 12 - Contractual Maturitie

Note 12 - Contractual Maturities of Available-for-sale Investments (Details)	Jun. 30, 2015USD ($)
Due in one year or less	$ 2,296,000
Due in one year or less	2,198,000
Due after one year through five years	0
Due after one year through five years	$ 0

Note 13 - Segment Information44

Note 13 - Segment Information (Details Textual)	3 Months Ended
	Sep. 30, 2015
Number of Operating Segments	2

Note 13 - Wholesale Sales by Pr

Note 13 - Wholesale Sales by Product Line (Details) - Wholesale Segment [Member]	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Case Goods [Member]
Wholesale sales, percentage	33.00%	36.00%
Upholstered Products [Member]
Wholesale sales, percentage	49.00%	46.00%
Home Accessories and Other [Member]
Wholesale sales, percentage	18.00%	18.00%
Wholesale sales, percentage	100.00%	100.00%

Note 13 - Retail Sales by Produ

Note 13 - Retail Sales by Product Line (Details) - Retail Segment [Member]	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Case Goods [Member]
Retail Sales, Percentage	30.00%	33.00%
Upholstered Products [Member]
Retail Sales, Percentage	46.00%	44.00%
Home Accessories and Other [Member]
Retail Sales, Percentage	24.00%	23.00%
Retail Sales, Percentage	100.00%	100.00%

Note 13 - Income by Segment (De

Note 13 - Income by Segment (Details) - USD ($) $ in Thousands		3 Months Ended
		Sep. 30, 2015	Sep. 30, 2014
Wholesale Segment [Member] | Operating Segments [Member]
Net Sales		$ 120,455	$ 124,600
Operating Income		20,587	21,542
Wholesale Segment [Member]
Depreciation and Amortization		1,911	2,094
Capital Expenditures		1,516	3,961
Retail Segment [Member] | Operating Segments [Member]
Net Sales		146,040	145,043
Operating Income		1,640	1,762
Retail Segment [Member]
Depreciation and Amortization		2,872	2,625
Capital Expenditures		$ 1,622	1,449
Acquisitions [Member]
Capital Expenditures			1,991
Intersegment Eliminations [Member]
Net Sales		$ (76,104)	(78,937)
Operating Income	[1]	(1,327)	(2,834)
Net Sales		190,391	190,706
Operating Income		20,900	20,470
Depreciation and Amortization		4,783	4,719
Capital Expenditures		$ 3,138	$ 7,401
[1]	Represents the change in wholesale profit contained in the retail segment inventory at the end of the period.

Note 13 - Assets by Segment (De

Note 13 - Assets by Segment (Details) - USD ($)		Sep. 30, 2015	Jun. 30, 2015
Wholesale Segment [Member]
Assets		$ 306,813,000	$ 295,949,000
Retail Segment [Member]
Assets		341,598,000	341,886,000
Inventory Profit Elimination [Member]
Assets	[1]	(33,319,000)	(31,858,000)
Assets		$ 615,092,000	$ 605,977,000
[1]	Represents the wholesale profit contained in the retail segment inventory that has not yet been realized. These profits are realized when the related inventory is sold.

Note 14 - Recently Issued Acc49

Note 14 - Recently Issued Accounting Pronouncements (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015
Reclassification from Other Noncurrent Assets to Long Term Debt, Current [Member]
Unamortized Debt Issuance Expense		$ 300
Reclassification from Other Noncurrent Assets to Long Term Debt, Noncurrent [Member]
Unamortized Debt Issuance Expense		1,000
Unamortized Debt Issuance Expense	$ 1,254	$ 1,331

Note 15 - Subsequent Events (De

Note 15 - Subsequent Events (Details Textual) - President [Member] - Subsequent Event [Member] - Phantom Share Units (PSUs) [Member]	Oct. 01, 2015shares
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Each Year	0
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Each Year	81,250