Sharps Compliance (SMED) 10-K 26 Aug 15 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2015	Aug. 24, 2015	Dec. 31, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	SHARPS COMPLIANCE CORP
Entity Central Index Key	898,770
Current Fiscal Year End Date	--06-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 54.4
Entity Common Stock, Shares Outstanding		15,386,791
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2015

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
CURRENT ASSETS
Cash and cash equivalents	$ 15,157	$ 13,717
Restricted cash	0	111
Accounts receivable, net of allowance for doubtful accounts of $34 and $23, respectively	6,647	4,728
Legal settlement receivable	0	1,538
Inventory	2,738	1,320
Prepaid and other current assets	733	474
TOTAL CURRENT ASSETS	25,275	21,888
PROPERTY, PLANT AND EQUIPMENT, net	3,810	3,858
INTANGIBLE ASSETS, net of accumulated amortization of $385 and $330, respectively	666	715
TOTAL ASSETS	29,751	26,461
CURRENT LIABILITIES
Accounts payable	1,770	1,617
Accrued liabilities	1,917	1,046
Deferred revenue	1,877	1,337
TOTAL CURRENT LIABILITIES	5,564	4,000
LONG-TERM DEFERRED REVENUE, net of current portion	483	524
OTHER LONG-TERM LIABILITIES	118	33
TOTAL LIABILITIES	$ 6,165	$ 4,557
COMMITMENTS AND CONTINGENCIES (Note 8)
STOCKHOLDERS' EQUITY
Common stock, $0.01 par value per share; 20,000,000 shares authorized; 15,575,041 and 15,460,940 shares issued, respectively and 15,383,791 and 15,299,139 shares outstanding, respectively.	$ 156	$ 155
Treasury stock, at cost, 191,250 and 161,801 shares repurchased, respectively.	(809)	(681)
Additional paid-in capital	24,344	23,695
Accumulated deficit	(105)	(1,265)
TOTAL STOCKHOLDERS' EQUITY	23,586	21,904
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 29,751	$ 26,461

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
CURRENT ASSETS
Accounts receivable, allowance for doubtful accounts	$ 34	$ 23
INTANGIBLE ASSETS, accumulated amortization	$ 385	$ 330
STOCKHOLDERS' EQUITY
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	15,575,041	15,460,940
Common stock, shares outstanding (in shares)	15,383,791	15,299,139
Treasury stock, shares repurchased (in shares)	191,250	161,801

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
REVENUES	$ 30,902	$ 26,570	$ 21,530
Cost of revenues	19,907	17,581	15,183
GROSS PROFIT	10,995	8,989	6,347
Selling, general and administrative	9,496	9,100	8,619
Legal settlement	0	(1,538)	0
Depreciation and amortization	263	462	437
OPERATING INCOME (LOSS)	1,236	965	(2,709)
OTHER INCOME (EXPENSE)
Interest income	36	24	27
Other expense	0	0	(15)
TOTAL OTHER INCOME	36	24	12
INCOME (LOSS) BEFORE INCOME TAXES	1,272	989	(2,697)
INCOME TAX EXPENSE
Current	112	33	15
TOTAL INCOME TAX EXPENSE	112	33	15
NET INCOME (LOSS)	$ 1,160	$ 956	$ (2,712)
NET INCOME (LOSS) PER COMMON SHARE
Basic (in dollars per share)	$ 0.08	$ 0.06	$ (0.18)
Diluted (in dollars per share)	$ 0.07	$ 0.06	$ (0.18)
WEIGHTED AVERAGE SHARES USED IN COMPUTING NET INCOME (LOSS) PER COMMON SHARE:
Basic (in shares)	15,327,000	15,289,000	15,255,000
Diluted (in shares)	15,564,000	15,401,000	15,255,000

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Total
Balances (in shares) at Jun. 30, 2012	15,206,127	0
Balances at Jun. 30, 2012	$ 152	$ 0	$ 22,537	$ 491	$ 23,180
Exercise of stock options (in shares)	100,445	0			100,445
Exercise of stock options	$ 1	$ 0	161	0	$ 162
Stock-based compensation	$ 0	$ 0	514	0	514
Issuance of restricted stock (in shares)	63,748	0
Issuance of restricted stock	$ 1	$ 0	(1)	0	$ 0
Stock Repurchased (in shares)	0	(25,360)			(25,360)
Stock Repurchased	$ 0	$ (74)	0	0	$ (74)
Net income (loss)	$ 0	$ 0	0	(2,712)	(2,712)
Balances (in shares) at Jun. 30, 2013	15,370,320	(25,360)
Balances at Jun. 30, 2013	$ 154	$ (74)	23,211	(2,221)	$ 21,070
Exercise of stock options (in shares)	13,125	0			13,125
Exercise of stock options	$ 0	$ 0	47	0	$ 47
Stock-based compensation	$ 0	$ 0	438	0	438
Issuance of restricted stock (in shares)	77,495	0
Issuance of restricted stock	$ 1	$ 0	(1)	0	$ 0
Stock Repurchased (in shares)	0	(136,441)			(136,441)
Stock Repurchased	$ 0	$ (607)	0	0	$ (607)
Net income (loss)	$ 0	$ 0	0	956	$ 956
Balances (in shares) at Jun. 30, 2014	15,460,940	(161,801)			15,299,139
Balances at Jun. 30, 2014	$ 155	$ (681)	23,695	(1,265)	$ 21,904
Exercise of stock options (in shares)	61,109	0			61,109
Exercise of stock options	$ 0	$ 0	139	0	$ 139
Stock-based compensation	$ 0	$ 0	511	0	511
Issuance of restricted stock (in shares)	52,992	0
Issuance of restricted stock	$ 1	$ 0	(1)	0	$ 0
Stock Repurchased (in shares)	0	(29,449)			(29,449)
Stock Repurchased	$ 0	$ (128)	0	0	$ (128)
Net income (loss)	$ 0	$ 0	0	1,160	$ 1,160
Balances (in shares) at Jun. 30, 2015	15,575,041	(191,250)			15,383,791
Balances at Jun. 30, 2015	$ 156	$ (809)	$ 24,344	$ (105)	$ 23,586

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 1,160	$ 956	$ (2,712)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	830	1,105	1,103
Loss on disposal of property, plant and equipment	0	0	16
Loss on inventory write-down	0	156	0
Stock-based compensation expense	511	438	514
Changes in operating assets and liabilities:
Restricted cash	111	0	(111)
Accounts receivable	(1,919)	(2,133)	(380)
Legal settlement receivable	1,538	(1,538)	0
Inventory	(1,418)	156	587
Prepaid and other current assets	(259)	109	27
Accounts payable and accrued liabilities	1,109	164	313
Deferred revenue	499	(69)	(309)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	2,162	(656)	(952)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment	(727)	(468)	(909)
Additions to intangible assets	(6)	(102)	(222)
NET CASH USED IN INVESTING ACTIVITIES	(733)	(570)	(1,131)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from exercise of stock options	139	47	162
Shares repurchased	(128)	(607)	(74)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	11	(560)	88
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	1,440	(1,786)	(1,995)
CASH AND CASH EQUIVALENTS, beginning of period	13,717	15,503	17,498
CASH AND CASH EQUIVALENTS, end of period	15,157	13,717	15,503
SUPPLEMENTAL CASH FLOW DISCLOSURES:
Income taxes paid, net of refunds	$ 58	$ 22	$ 18

ORGANIZATION AND BACKGROUND

ORGANIZATION AND BACKGROUND	12 Months Ended
	Jun. 30, 2015
ORGANIZATION AND BACKGROUND [Abstract]
ORGANIZATION AND BACKGROUND	NOTE 1 - ORGANIZATION AND BACKGROUND Organization Business ® ® SM ® ® ® ® Concentration of Customers and Service Providers . For the fiscal year ended June 30, 2015, one customer represented approximately 17% of revenues. This customer represented approximately 7%, or $0.5 million, of the total accounts receivable balance as of June 30, 2015. For the fiscal year ended June 30, 2014, one customer represented approximately 20% of revenues. This customer represented approximately 13%, or $0.6 million, of the total accounts receivable balance as of June 30, 2014. For the fiscal year ended June 30, 2013, one customer represented approximately 22% of revenues. The Company may be adversely affected by its dependence Currently, the majority of Sharps transportation is sourced with the United States Postal Service (“USPS”), which consists of delivering the Sharps Recovery System from the end user to the Company’s facility. The Company also has an arrangement with United Parcel Service Inc. (“UPS”) whereby UPS transports the Company’s TakeAway Recovery System products from the end user to the Company’s facility. Sharps maintains relationships with multiple raw materials suppliers and vendors in order to meet customer demands and assure availability of our products and solutions. With respect to the Sharps Recovery System solutions, the Company owns all proprietary molds and dies and utilizes three contract manufacturers for the production of the primary raw materials. Sharps believes that alternative suitable contract manufacturers are readily available to meet the production specifications of our products and solutions. The Company utilizes national suppliers for the majority of the raw materials used in our other products and solutions and international suppliers for Pitch-It IV Poles.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jun. 30, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Revenue Recognition : The Company recognizes revenue from product sales when goods are shipped or delivered, and title and risk of loss pass to the customer except for those sales via multiple-deliverable revenue arrangements. Provisions for certain rebates, product returns and discounts to customers are accounted for as reductions in sales in the same period the related sales are recorded. Product discounts granted are based on the terms of arrangements with direct, indirect and other market participants, as well as market conditions, including prices charged by competitors. Rebates are estimated based on contractual terms, historical experience, trend analysis and projected market conditions in the various markets served. Certain products offered by the Company have revenue producing components that are recognized over multiple delivery points (Sharps Recovery System and various other solutions like the TakeAway Medication Recovery Systems referred to as “Mailbacks” and Sharps Pump and Asset Return Systems, referred to as “Pump Returns”) and can consist of up to three separate elements, or units of measure, as follows: (1) the sale of the compliance and container system, (2) return transportation and (3) treatment service. In accordance with the relative selling price methodology, an estimated selling price is determined for all deliverables that qualify for separate units of accounting. The actual consideration received in a multiple-deliverable arrangement is then allocated to the units based on their relative sales price. The selling price for the transportation revenue and the treatment revenue utilizes third party evidence. The Company estimates the selling price of the compliance and container system based on the product and services provided, including compliance with local, state and Federal laws, adherence to stringent manufacturing and testing requirements, safety to the patient and the community as well as storage and containment capabilities. Revenue for the sale of the compliance and container is recognized upon delivery to the customer, at which time the customer takes title and assumes risk of ownership. Transportation revenue is recognized when the customer returns the compliance and container system and the container has been received at the Company’s owned or contracted facilities. The compliance and container system is mailed or delivered by an alternative logistics provider to the Company’s owned or contracted facilities. Treatment revenue is recognized upon the destruction or conversion and proof of receipt and treatment having been performed on the container. Since the transportation element and the treatment elements are undelivered services at the point of initial sale of the compliance and container, transportation and treatment revenue is deferred until the services are performed. The current and long-term portions of deferred revenues are determined through regression analysis and historical trends. Furthermore, through regression analysis of historical data, the Company has determined that a certain percentage of all compliance and container systems sold may not be returned. Accordingly, a portion of the transportation and treatment elements are recognized at the point of sale. Income Taxes The income tax provision reflects the full benefit of all positions that have been taken in the Company’s income tax returns, except to the extent that such positions are uncertain and fall below the recognition requirements. In the event that the Company determines that a tax position meets the uncertainty criteria, an additional liability or benefit will result. The Company periodically reassesses the tax positions reflected in tax returns for open years based on the latest information available and determines whether any portion of the tax benefits reflected therein should be treated as an unrecognized tax benefit. The amount of unrecognized tax benefit requires management to make significant assumptions about the expected outcomes of certain tax positions included in filed or yet to be filed tax returns. At June 30, 2015 and 2014, the Company did not have any uncertain tax positions. The Company is subject to income taxes in the United States and in numerous state tax jurisdictions. During the fiscal year ended June 30, 2013, the Company began doing business in a number of additional states throughout the United States and began to file state income tax returns in such jurisdictions. Tax return filings which are subject to review by federal and state tax authorities by jurisdiction are as follows: · United States – fiscal years ended June 30, 2012 and after · State of Texas – fiscal years ended June 30, 2011 and after · State of Georgia – fiscal years ended June 30, 2012 and after · State of Pennsylvania – fiscal years ended June 30, 2012 and after · Other States – fiscal years ended June 30, 2013 and after None of the Company’s federal or state tax returns are currently under examination. The Company records income tax related interest and penalties, if applicable, as a component of the provision for income tax expense. However, there were no such amounts recognized in the consolidated statements of operations in 2015, 2014 and 2013. Accounts Receivable Stock-Based Compensation: Year Ended June 30, 2015 2014 2013 Stock-based compensation expense included in: Cost of revenue $ 22 $ 18 $ 21 Selling, general and administrative 489 420 493 Total $ 511 $ 438 $ 514 The Company estimates the fair value of restricted stock awards based on the closing price of the Company’s common stock on the date of the grant. The Company estimates the fair value of stock options using the Black-Scholes valuation model. Key input assumptions used to estimate the fair value of stock options include the exercise price of the award, the expected option term, the expected volatility of the Company’s stock over the option’s expected term, the risk free interest rate over the option’s expected term and the Company’s expected annual dividend yield. The risk free interest rate is derived using the U.S. Treasury yield curve in effect at date of grant. Volatility, expected life and dividend yield are based on historical experience and activity. The fair value of the Company’s stock options was estimated on the grant date using the Black-Scholes option-pricing model with the following assumptions: Year Ended June 30, 2015 2014 2013 Weighted average risk-free interest rate 0.4 % 0.6 % 0.5 % Weighted average expected volatility 45 % 52 % 58 % Weighted average expected life (in years) 3.49 4.04 4.61 Dividend yield - - - The Company considers an estimated forfeiture rate for stock options based on historical experience and the anticipated forfeiture rates during the future contract life. Cash and Cash Equivalents Inventory Property, Plant and Equipment Computer and software development costs, which include costs of computer software developed or obtained for internal use, all programming, implementation and costs incurred with developing internal-use software, are capitalized during the development project stage. External direct costs of materials and services consumed in developing or obtaining internal-use computer software are capitalized. The Company expenses costs associated with developing or obtaining internal-use software during the preliminary project stage. Training and maintenance costs associated with system changes or internal-use software are expensed as incurred. Additionally, the costs of data cleansing, reconciliation, balancing of old data to the new system, creation of new/additional data and data conversion costs are expensed as incurred. Intangible Assets Year Ending June 30, 2016 $ 56 2017 55 2018 53 2019 53 2020 53 Thereafter 396 $ 666 Shipping and Handling Fees and Costs Additional Product Related Costs Advertising Costs Realization of Long-lived Assets Employee Benefit Plans Net Income (Loss) Per Share Fair Value of Financial Instruments Segment Reporting Use of Estimates Recently Issued Accounting Standards In July 2015, guidance for inventory measurement was issued, which supersedes the policy currently followed by the Company. The new guidance requires the Company to measure inventory at the lower of cost and net realizable value. The provisions of the new guidance are effective for annual reporting periods beginning after December 15, 2016 (effective July 1, 2017 for the Company) including interim periods within that reporting period. The Company is currently evaluating the impact of the new guidance financial statements.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Jun. 30, 2015
PROPERTY, PLANT AND EQUIPMENT [Abstract]
PROPERTY, PLANT AND EQUIPMENT	NOTE 3 – PROPERTY, PLANT AND EQUIPMENT At June 30, 2015 and 2014, property, plant and equipment consisted of the following (in thousands): June 30, Useful Life 2015 2014 Furniture and fixtures 3 to 5 years $ 192 $ 192 Plant and equipment 3 to 17 years 6,410 6,153 Manufacturing 15 years 220 252 Computers and software 3 to 5 years 1,832 1,657 Leasehold improvements 3 to 15 years 897 897 Land 19 19 Construction-in-progress 276 7 9,846 9,177 Less: accumulated depreciation 6,036 5,319 Net property, plant and equipment $ 3,810 $ 3,858 Total depreciation expense in the fiscal years ended June 30, 2015, 2014 and 2013 was $0.8 million, $1.1 million and $1.1 million, respectively. Depreciation expense included in cost of revenues in the fiscal years ended 2015, 2014 and 2013 was $0.6 million, $0.6 million and $0.7 million, respectively.

NOTES PAYABLE AND LONG-TERM DEB

NOTES PAYABLE AND LONG-TERM DEBT	12 Months Ended
	Jun. 30, 2015
NOTES PAYABLE AND LONG-TERM DEBT [Abstract]
NOTES PAYABLE AND LONG-TERM DEBT	NOTE 4 – NOTES PAYABLE AND LONG-TERM DEBT On April 9, 2015, the Company entered into a credit agreement with a commercial bank (“Credit Agreement”). The Credit Agreement, which replaces, in its entirety, the Company’s prior credit agreement, which was executed effective January 28, 2014 with the same commercial bank, provides for a two-year, $9.0 million line of credit facility, the proceeds of which may be utilized as follows: (i) $4.0 million for working capital, letters of credit (up to $500,000) and general corporate purposes and (ii) $5.0 million for acquisitions. Indebtedness under the Credit Agreement is secured by the Company’s accounts receivable and inventory with advances outstanding under the working capital portion of the credit facility at any time limited to a Borrowing Base (as defined in the Credit Agreement) equal to 80% of eligible accounts receivable plus 50% of eligible inventory. Advances under the acquisition portion of the credit facility are limited to 75% of the purchase price of an acquired company and convert to a five-year term note. Borrowings bear interest at WSJ Prime (for the working capital line) and WSJ Prime plus 0.25% (for the acquisition line), which was approximately 3.25% and 3.50%, respectively, as of June 30, 2015. The Company pays a fee of 0.25% per annum on the unused amount of the line of credit. As of June 30, 2015, the Company had no outstanding borrowings other than $0.3 million in letters of credit, which left $8.7 million of credit available under the Credit Agreement. The Credit Agreement contains affirmative and negative covenants that, among other things, require the Company to maintain a minimum level of tangible net worth of $12.5 million, minimum liquidity of $7.0 million and a minimum debt service coverage ratio of not less than 1.15 to 1.00. The Credit Agreement, which expires on April 9, 2017, also contains customary events of default which, if uncured, may terminate the Credit Agreement and require immediate repayment of all indebtedness to the lenders. The Company was in compliance with all the financial covenants under the Credit Agreement as of June 30, 2015.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jun. 30, 2015
INCOME TAXES [Abstract]
INCOME TAXES	NOTE 5 – INCOME TAXES The components of income tax expense are as follows (in thousands): Year ended June 30, 2015 2014 2013 Current Federal $ 29 $ 13 $ - State 83 20 15 $ 112 $ 33 $ 15 The reconciliation of the statutory income tax rate to the Company’s effective income tax rate for the fiscal years ended June 30, 2015, 2014 and 2013 is as follows : Year Ended June 30, 2015 2014 2013 Statutory rate 34.0 % 34.0 % 34.0 % State income taxes, net 5.3 % (6.9 %) (0.4 %) Meals and entertainment 1.2 % 1.2 % (0.5 %) Prior year adjustments and other 0.0 % (4.0 %) 0.5 % Effective rate before valuation allowance 40.5 % 24.3 % 33.6 % Change in valuation allowance (31.7 %) (21.0 %) (34.2 %) Effective tax rate 8.8 % 3.3 % (0.6 %) During the year ended June 30, 2013, the Company recorded $0.9 million to establish a deferred tax valuation allowance to fully reserve net deferred tax assets. The Company recorded a $0.4 million and $0.2 million release of the deferred tax valuation allowance due to taxable income generated during the years ended June 30, 2015 and 2014, respectively. The establishment of valuation allowances and development of projected annual effective tax rates requires significant judgment and is impacted by various estimates. Both positive and negative evidence including losses over seven of the past twelve quarters, as well as the objectivity and verifiability of that evidence, is considered in determining the appropriateness of recording a valuation allowance on deferred tax assets. Under generally accepted accounting principles, the valuation allowance has been recorded to reduce the Company’s net deferred tax assets to an amount that is more likely than not to be realized and is based upon the uncertainty of the realization of certain federal and state deferred tax assets related to net operating loss carryforwards and other tax attributes. At June 30, 2015 and 2014, the significant components of deferred tax assets and liabilities are approximated as follows (in thousands): June 30, 2015 2014 Deferred tax assets relating to: Stock compensation $ 892 $ 834 AMT and research and development credits 455 410 Deferred rent 44 23 Inventory 92 58 Professional fees 163 51 Accrued vacation 23 23 Accounts receivable allowance 13 8 Contribution carryovers 31 14 Net operating loss carryforwards 1,124 1,751 Total deferred tax assets 2,837 3,172 Deferred tax liablities related to depreciation differences (555 ) (487 ) Net deferred tax assets before valuation allowance 2,282 2,685 Valuation allowance (2,282 ) (2,685 ) Net deferred tax assets $ - $ - During the years ended June 30, 2015 and 2014, the Company utilized net operating loss carryforwards for income tax purposes of approximately $1.8 million and $1.0 million, respectively, which had previously been fully offset by a deferred tax valuation allowance in the prior year. At June 30, 2015, the Company had net operating loss carryforwards of $3.3 million which will expire, if unused, between June 30, 2031 and June 30, 2033. At June 30, 2015, the Company had various tax credit carryforwards of $0.4 million, of which $0.2 million will expire by June 30, 2030 and $0.2 million which may be carried forward indefinitely.

EQUITY TRANSACTIONS

EQUITY TRANSACTIONS	12 Months Ended
	Jun. 30, 2015
EQUITY TRANSACTIONS [Abstract]
EQUITY TRANSACTIONS	NOTE 6 - EQUITY TRANSACTIONS During the years ended June 30, 2015, 2014 and 2013, stock options to purchase shares of the Company’s common stock were exercised as follows: Year Ended June 30, 2015 2014 2013 Options Exercised 61,109 13,125 100,445 Proceeds (in thousands) $ 139 $ 47 $ 162 Average exercise price per share $ 2.30 $ 3.53 $ 1.62 On January 7, 2013, the Company announced that its Board of Directors approved a stock repurchase program effective January 3, 2013, authorizing the Company to repurchase in the aggregate up to $3 million of its outstanding common stock over a two-year period. On March 5, 2015, the Board approved a two-year extension of the stock repurchase program through January 1, 2017. During the years ended June 30, 2015, 2014 and 2013, shares were repurchased as follows: Year Ended June 30, 2015 2014 2013 Shares repurchased 29,449 136,441 25,360 Cash paid for shares repurchased (in thousands) $ 128 $ 607 $ 74 Average price paid per share $ 4.35 $ 4.45 $ 2.93 Total shares repurchased under the program are 191,250 shares at a cost of $0.8 million. As of June 30, 2015, approximately $2.2 million remained of the Company’s $3.0 million repurchase program. The Company purchased all shares with cash resources.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Jun. 30, 2015
STOCK-BASED COMPENSATION [Abstract]
STOCK-BASED COMPENSATION	NOTE 7 - STOCK BASED COMPENSATION The Company sponsors the Sharps Compliance Corp. 2010 Stock Plan (the “2010 Plan”) covering employees, consultants and non-employee directors. The 1993 Plan, as amended, provided for the granting of stock-based compensation (stock options or restricted stock) of up to 4,000,000 shares of the Company’s common stock of which 302,558 shares are outstanding as of June 30, 2015. Options granted generally vest over a period of three years and expire seven years after the date of grant. Restricted stock generally vested between one to three years. As of June 30, 2015, 2014 and 2013, options available for grant under the 2010 Plan are as follows: June 30, 2010 Stock Plan 2015 1,597,030 2014 139,267 2013 296,308 The summary of activity for all stock options during the fiscal years ended June 30, 2015, 2014 and 2013 is presented in the table below (in thousands except per share amounts): Options Outstanding Weighted Average Exercise Price Balance at June 30, 2012 1,078 $ 4.60 Granted 178 $ 2.90 Exercised (100 ) $ 1.62 Forfeited or canceled (280 ) $ 5.82 Balance at June 30, 2013 876 $ 4.21 Granted 244 $ 3.95 Exercised (13 ) $ 3.53 Forfeited or canceled (157 ) $ 3.50 Balance at June 30, 2014 950 $ 4.27 Granted 516 $ 4.63 Exercised (61 ) $ 2.30 Forfeited or canceled (30 ) $ 4.68 Balance at June 30, 2015 1,375 $ 4.49 Exercisable at June 30, 2015 625 $ 4.63 The summary of activity for all restricted stock during the fiscal years ended June 30, 2015, 2014 and 2013 Year Ended June 30, 2015 2014 2013 Unvested at beginning of the year 15 15 17 Granted 53 62 62 Vested (55 ) (62 ) (64 ) Unvested at end of the year 13 15 15 The weighted average fair value per share of restricted stock granted during the fiscal years ended June 30, 2015, 2014 and 2013 The following table summarizes information about stock options outstanding as of June 30, 2015 (in thousands except per share amounts): Options Outstanding Range of Exercise Price Outstanding as of June 30, 2015 Weighted Average Remaining Life (in Years) Weighted Average Exercise Price $ 0.00 - $2.50 56 0.35 $ 2.10 $ 2.51 - $3.50 173 4.99 $ 2.97 $ 3.51 - $5.50 939 4.60 $ 4.34 $ 5.51 - $7.50 110 6.73 $ 5.79 $ 7.51- $9.50 97 1.12 $ 8.50 1,375 $ 4.49 The following table summarizes information about stock options exercisable as of June 30, 2015 (in thousands except per share amounts): Options Exercisable Range of Exercise Price Exercisable as of June 30, 2015 Weighted Average Remaining Life (in Years) Weighted Average Exercise Price $ 0.00 - $2.50 56 0.35 $ 2.10 $ 2.51 - $3.50 59 4.85 $ 2.96 $ 3.51 - $5.50 414 2.84 $ 4.31 $ 5.51 - $7.50 - - $ - $ 7.51- $9.50 96 1.12 $ 8.50 625 $ 4.63 As of June 30, 2015, there was $0.6 million of stock option and restricted stock compensation expense related to non-vested awards. This expense is expected to be recognized over a weighted average period of 3.0 years.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Jun. 30, 2015
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 8 - COMMITMENTS AND CONTINGENCIES Operating Leases: The Company recognizes escalating rental payments that are quantifiable at the inception of the lease on a straight-line basis over the lease term. Rent expense for the fiscal years ended June 30, 2015, 2014 and 2013 was $1.3 million, $1.3 million and $1.2 million, respectively. Future minimum lease payments under non-cancelable operating leases as of June 30, 2015 are as follows (in thousands): Year Ended June 30, 2016 2017 2018 2019 2020 Thereafter Operating lease obligations $ 743 $ 846 $ 852 $ 867 $ 814 $ 113 The Company amended the corporate office lease agreement on August 5, 2015, to include an additional 9,368 square feet of space in Houston, Texas to expand corporate office space effective in November 2015. The future minimum lease payments for the new office space will be an additional $0.1 million, $0.2 million, $0.2 million, $0.2 million, $0.2 million and $0.1 million for fiscal years ending June 30, 2016, 2017, 2018, 2019, 2020 and thereafter, respectively. Legal Settlement: On June 30, 2014, the Company entered an agreement to settle its claims against the United States government and various agencies related to the January 2012 termination of the Company’s February 2009 contract with the Centers for Disease Control and Prevention (“CDC”). The settlement agreement resulted in a cash payment of $1.5 million, which was received by the Company in July 2014. Other The Company is also involved in legal proceedings and litigation in the ordinary course of business. In the opinion of management, the outcome of such matters will not have a material adverse effect on the Company’s consolidated financial position or consolidated results of operations.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Jun. 30, 2015
EARNINGS PER SHARE [Abstract]
EARNINGS PER SHARE	NOTE 9 - EARNINGS PER SHARE Basic per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted per share is computed by dividing net income by the weighted average number of common shares after considering the additional dilution related to common stock options and restricted stock. In computing diluted earnings per share, the outstanding common stock options are considered dilutive using the treasury stock method. The Company’s restricted stock awards are treated as outstanding for earning per share calculations since these shares have full voting rights and are entitled to participate in dividends declared on common shares, if any, and undistributed earnings. As participating securities, the shares of restricted stock are included in the calculation of basic EPS using the two-class method. For the periods presented, the amount of earnings allocated to the participating securities was not material. The following information is necessary to calculate earnings per share for the periods presented (in thousands, except per share amounts): Year Ended June 30, 2015 2014 2013 Net income (loss), as reported $ 1,160 $ 956 $ (2,712 ) Weighted average common shares outstanding 15,327 15,289 15,255 Effect of dilutive stock options 237 112 - Weighted average diluted common shares outstanding 15,564 15,401 15,255 Net income (loss) per common share Basic $ 0.08 $ 0.06 $ (0.18 ) Diluted $ 0.07 $ 0.06 $ (0.18 ) Employee stock options excluded from computation of diluted income per share amounts because their effect would be anti-dilutive 210 655 728

SELECTED QUARTERLY FINANCIAL DA

SELECTED QUARTERLY FINANCIAL DATA (Unaudited)	12 Months Ended
	Jun. 30, 2015
SELECTED QUARTERLY FINANCIAL DATA (Unaudited) [Abstract]
SELECTED QUARTERLY FINANCIAL DATA (Unaudited)	NOTE 10 – SELECTED QUARTERLY FINANCIAL DATA (Unaudited) The following tables show quarterly financial information for the years ended June 30, 2015 and 2014. The Company believes that all necessary adjustments have been included in the amounts below to present fairly the results of such periods (in thousands expect per share amounts). Quarter Ended September 30, 2014 December 31, 2014 March 31, 2015 June 30, 2015 Total revenues $ 7,047 $ 8,693 $ 6,171 $ 8,991 Cost of revenues $ 4,713 $ 5,465 $ 4,511 $ 5,218 Operating income (loss) $ (74 ) $ 744 $ (808 ) $ 1,374 Net income (loss) $ (74 ) $ 749 $ (812 ) $ 1,297 Net income (loss) per share - diluted $ (0.00 ) $ 0.05 $ (0.05 ) $ 0.08 Weighted average shares-diluted 15,288 15,423 15,360 15,804 Quarter Ended September 30, 2013 December 31, 2013 March 31, 2014 June 30, 2014 Total revenues $ 6,272 $ 7,649 $ 5,553 $ 7,096 Cost of revenues $ 3,948 $ 4,960 $ 4,144 $ 4,529 Operating income (loss) $ 130 $ 120 $ (935 ) $ 1,650 Net income (loss) $ 122 $ 120 $ (935 ) $ 1,649 Net income (loss) per share - diluted $ 0.01 $ 0.01 $ (0.06 ) $ 0.11 Weighted average shares-diluted 15,366 15,438 15,248 15,381

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Jun. 30, 2015
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	NOTE 11 – SUBSEQUENT EVENTS Effective on July 17, 2015, the Company acquired Alpha Bio/Med Services LLC, a route-based pickup service located in Pennsylvania, which services Pennsylvania, Maryland and parts of Ohio for $0.7 million.

SUMMARY OF SIGNIFICANT ACCOUN18

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jun. 30, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Revenue Recognition	Revenue Recognition : The Company recognizes revenue from product sales when goods are shipped or delivered, and title and risk of loss pass to the customer except for those sales via multiple-deliverable revenue arrangements. Provisions for certain rebates, product returns and discounts to customers are accounted for as reductions in sales in the same period the related sales are recorded. Product discounts granted are based on the terms of arrangements with direct, indirect and other market participants, as well as market conditions, including prices charged by competitors. Rebates are estimated based on contractual terms, historical experience, trend analysis and projected market conditions in the various markets served. Certain products offered by the Company have revenue producing components that are recognized over multiple delivery points (Sharps Recovery System and various other solutions like the TakeAway Medication Recovery Systems referred to as “Mailbacks” and Sharps Pump and Asset Return Systems, referred to as “Pump Returns”) and can consist of up to three separate elements, or units of measure, as follows: (1) the sale of the compliance and container system, (2) return transportation and (3) treatment service. In accordance with the relative selling price methodology, an estimated selling price is determined for all deliverables that qualify for separate units of accounting. The actual consideration received in a multiple-deliverable arrangement is then allocated to the units based on their relative sales price. The selling price for the transportation revenue and the treatment revenue utilizes third party evidence. The Company estimates the selling price of the compliance and container system based on the product and services provided, including compliance with local, state and Federal laws, adherence to stringent manufacturing and testing requirements, safety to the patient and the community as well as storage and containment capabilities. Revenue for the sale of the compliance and container is recognized upon delivery to the customer, at which time the customer takes title and assumes risk of ownership. Transportation revenue is recognized when the customer returns the compliance and container system and the container has been received at the Company’s owned or contracted facilities. The compliance and container system is mailed or delivered by an alternative logistics provider to the Company’s owned or contracted facilities. Treatment revenue is recognized upon the destruction or conversion and proof of receipt and treatment having been performed on the container. Since the transportation element and the treatment elements are undelivered services at the point of initial sale of the compliance and container, transportation and treatment revenue is deferred until the services are performed. The current and long-term portions of deferred revenues are determined through regression analysis and historical trends. Furthermore, through regression analysis of historical data, the Company has determined that a certain percentage of all compliance and container systems sold may not be returned. Accordingly, a portion of the transportation and treatment elements are recognized at the point of sale.
Income Taxes	Income Taxes The income tax provision reflects the full benefit of all positions that have been taken in the Company’s income tax returns, except to the extent that such positions are uncertain and fall below the recognition requirements. In the event that the Company determines that a tax position meets the uncertainty criteria, an additional liability or benefit will result. The Company periodically reassesses the tax positions reflected in tax returns for open years based on the latest information available and determines whether any portion of the tax benefits reflected therein should be treated as an unrecognized tax benefit. The amount of unrecognized tax benefit requires management to make significant assumptions about the expected outcomes of certain tax positions included in filed or yet to be filed tax returns. At June 30, 2015 and 2014, the Company did not have any uncertain tax positions. The Company is subject to income taxes in the United States and in numerous state tax jurisdictions. During the fiscal year ended June 30, 2013, the Company began doing business in a number of additional states throughout the United States and began to file state income tax returns in such jurisdictions. Tax return filings which are subject to review by federal and state tax authorities by jurisdiction are as follows: · United States – fiscal years ended June 30, 2012 and after · State of Texas – fiscal years ended June 30, 2011 and after · State of Georgia – fiscal years ended June 30, 2012 and after · State of Pennsylvania – fiscal years ended June 30, 2012 and after · Other States – fiscal years ended June 30, 2013 and after None of the Company’s federal or state tax returns are currently under examination. The Company records income tax related interest and penalties, if applicable, as a component of the provision for income tax expense. However, there were no such amounts recognized in the consolidated statements of operations in 2015, 2014 and 2013.
Accounts Receivable	Accounts Receivable
Stock-Based Compensation	Stock-Based Compensation: Year Ended June 30, 2015 2014 2013 Stock-based compensation expense included in: Cost of revenue $ 22 $ 18 $ 21 Selling, general and administrative 489 420 493 Total $ 511 $ 438 $ 514 The Company estimates the fair value of restricted stock awards based on the closing price of the Company’s common stock on the date of the grant. The Company estimates the fair value of stock options using the Black-Scholes valuation model. Key input assumptions used to estimate the fair value of stock options include the exercise price of the award, the expected option term, the expected volatility of the Company’s stock over the option’s expected term, the risk free interest rate over the option’s expected term and the Company’s expected annual dividend yield. The risk free interest rate is derived using the U.S. Treasury yield curve in effect at date of grant. Volatility, expected life and dividend yield are based on historical experience and activity. The fair value of the Company’s stock options was estimated on the grant date using the Black-Scholes option-pricing model with the following assumptions: Year Ended June 30, 2015 2014 2013 Weighted average risk-free interest rate 0.4 % 0.6 % 0.5 % Weighted average expected volatility 45 % 52 % 58 % Weighted average expected life (in years) 3.49 4.04 4.61 Dividend yield - - - The Company considers an estimated forfeiture rate for stock options based on historical experience and the anticipated forfeiture rates during the future contract life.
Cash and Cash Equivalents	Cash and Cash Equivalents
Inventory	Inventory
Property, Plant and Equipment	Property, Plant and Equipment Computer and software development costs, which include costs of computer software developed or obtained for internal use, all programming, implementation and costs incurred with developing internal-use software, are capitalized during the development project stage. External direct costs of materials and services consumed in developing or obtaining internal-use computer software are capitalized. The Company expenses costs associated with developing or obtaining internal-use software during the preliminary project stage. Training and maintenance costs associated with system changes or internal-use software are expensed as incurred. Additionally, the costs of data cleansing, reconciliation, balancing of old data to the new system, creation of new/additional data and data conversion costs are expensed as incurred.
Intangible Assets	Intangible Assets Year Ending June 30, 2016 $ 56 2017 55 2018 53 2019 53 2020 53 Thereafter 396 $ 666
Shipping and Handling Fees and Costs	Shipping and Handling Fees and Costs
Additional Product Related Costs	Additional Product Related Costs
Advertising Costs	Advertising Costs
Realization of Long-lived Assets	Realization of Long-lived Assets
Employee Benefit Plans	Employee Benefit Plans
Net Income (Loss) Per Share	Net Income (Loss) Per Share
Fair Value of Financial Instruments	Fair Value of Financial Instruments
Segment Reporting	Segment Reporting
Use of Estimates	Use of Estimates
Recently Issued Accounting Standards	Recently Issued Accounting Standards In July 2015, guidance for inventory measurement was issued, which supersedes the policy currently followed by the Company. The new guidance requires the Company to measure inventory at the lower of cost and net realizable value. The provisions of the new guidance are effective for annual reporting periods beginning after December 15, 2016 (effective July 1, 2017 for the Company) including interim periods within that reporting period. The Company is currently evaluating the impact of the new guidance financial statements.

SUMMARY OF SIGNIFICANT ACCOUN19

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Jun. 30, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Schedule of stock-based compensation expense	Total stock-based compensation expense for the fiscal years ended June 30, 2015, 2014 and 2013 are as follows: Year Ended June 30, 2015 2014 2013 Stock-based compensation expense included in: Cost of revenue $ 22 $ 18 $ 21 Selling, general and administrative 489 420 493 Total $ 511 $ 438 $ 514
Schedule of stock option valuation assumptions	The fair value of the Company’s stock options was estimated on the grant date using the Black-Scholes option-pricing model with the following assumptions: Year Ended June 30, 2015 2014 2013 Weighted average risk-free interest rate 0.4 % 0.6 % 0.5 % Weighted average expected volatility 45 % 52 % 58 % Weighted average expected life (in years) 3.49 4.04 4.61 Dividend yield - - -
Schedule of future amortization of intangible assets	As of June 30, 2015, future amortization of intangible assets is as follows (in thousands): Year Ending June 30, 2016 $ 56 2017 55 2018 53 2019 53 2020 53 Thereafter 396 $ 666

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Jun. 30, 2015
PROPERTY, PLANT AND EQUIPMENT [Abstract]
Property, plant and equipment	At June 30, 2015 and 2014, property, plant and equipment consisted of the following (in thousands): June 30, Useful Life 2015 2014 Furniture and fixtures 3 to 5 years $ 192 $ 192 Plant and equipment 3 to 17 years 6,410 6,153 Manufacturing 15 years 220 252 Computers and software 3 to 5 years 1,832 1,657 Leasehold improvements 3 to 15 years 897 897 Land 19 19 Construction-in-progress 276 7 9,846 9,177 Less: accumulated depreciation 6,036 5,319 Net property, plant and equipment $ 3,810 $ 3,858

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jun. 30, 2015
INCOME TAXES [Abstract]
Components of income tax expense	The components of income tax expense are as follows (in thousands): Year ended June 30, 2015 2014 2013 Current Federal $ 29 $ 13 $ - State 83 20 15 $ 112 $ 33 $ 15
Effective income tax rate reconciliation	The reconciliation of the statutory income tax rate to the Company’s effective income tax rate for the fiscal years ended June 30, 2015, 2014 and 2013 is as follows : Year Ended June 30, 2015 2014 2013 Statutory rate 34.0 % 34.0 % 34.0 % State income taxes, net 5.3 % (6.9 %) (0.4 %) Meals and entertainment 1.2 % 1.2 % (0.5 %) Prior year adjustments and other 0.0 % (4.0 %) 0.5 % Effective rate before valuation allowance 40.5 % 24.3 % 33.6 % Change in valuation allowance (31.7 %) (21.0 %) (34.2 %) Effective tax rate 8.8 % 3.3 % (0.6 %)
Components of deferred tax assets and liabilities	At June 30, 2015 and 2014, the significant components of deferred tax assets and liabilities are approximated as follows (in thousands): June 30, 2015 2014 Deferred tax assets relating to: Stock compensation $ 892 $ 834 AMT and research and development credits 455 410 Deferred rent 44 23 Inventory 92 58 Professional fees 163 51 Accrued vacation 23 23 Accounts receivable allowance 13 8 Contribution carryovers 31 14 Net operating loss carryforwards 1,124 1,751 Total deferred tax assets 2,837 3,172 Deferred tax liablities related to depreciation differences (555 ) (487 ) Net deferred tax assets before valuation allowance 2,282 2,685 Valuation allowance (2,282 ) (2,685 ) Net deferred tax assets $ - $ -

EQUITY TRANSACTIONS (Tables)

EQUITY TRANSACTIONS (Tables)	12 Months Ended
	Jun. 30, 2015
EQUITY TRANSACTIONS [Abstract]
Stock options exercised to purchase common stock	During the years ended June 30, 2015, 2014 and 2013, stock options to purchase shares of the Company’s common stock were exercised as follows: Year Ended June 30, 2015 2014 2013 Options Exercised 61,109 13,125 100,445 Proceeds (in thousands) $ 139 $ 47 $ 162 Average exercise price per share $ 2.30 $ 3.53 $ 1.62
Schedule of share repurchases	During the years ended June 30, 2015, 2014 and 2013, shares were repurchased as follows: Year Ended June 30, 2015 2014 2013 Shares repurchased 29,449 136,441 25,360 Cash paid for shares repurchased (in thousands) $ 128 $ 607 $ 74 Average price paid per share $ 4.35 $ 4.45 $ 2.93

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Jun. 30, 2015
STOCK-BASED COMPENSATION [Abstract]
Schedule of options available for grant under plans	As of June 30, 2015, 2014 and 2013, options available for grant under the 2010 Plan are as follows: June 30, 2010 Stock Plan 2015 1,597,030 2014 139,267 2013 296,308
Schedule of activity for all stock options	The summary of activity for all stock options during the fiscal years ended June 30, 2015, 2014 and 2013 is presented in the table below (in thousands except per share amounts): Options Outstanding Weighted Average Exercise Price Balance at June 30, 2012 1,078 $ 4.60 Granted 178 $ 2.90 Exercised (100 ) $ 1.62 Forfeited or canceled (280 ) $ 5.82 Balance at June 30, 2013 876 $ 4.21 Granted 244 $ 3.95 Exercised (13 ) $ 3.53 Forfeited or canceled (157 ) $ 3.50 Balance at June 30, 2014 950 $ 4.27 Granted 516 $ 4.63 Exercised (61 ) $ 2.30 Forfeited or canceled (30 ) $ 4.68 Balance at June 30, 2015 1,375 $ 4.49 Exercisable at June 30, 2015 625 $ 4.63
Schedule of activity for all restricted stock	The summary of activity for all restricted stock during the fiscal years ended June 30, 2015, 2014 and 2013 Year Ended June 30, 2015 2014 2013 Unvested at beginning of the year 15 15 17 Granted 53 62 62 Vested (55 ) (62 ) (64 ) Unvested at end of the year 13 15 15
Schedule of information about stock options outstanding	The following table summarizes information about stock options outstanding as of June 30, 2015 (in thousands except per share amounts): Options Outstanding Range of Exercise Price Outstanding as of June 30, 2015 Weighted Average Remaining Life (in Years) Weighted Average Exercise Price $ 0.00 - $2.50 56 0.35 $ 2.10 $ 2.51 - $3.50 173 4.99 $ 2.97 $ 3.51 - $5.50 939 4.60 $ 4.34 $ 5.51 - $7.50 110 6.73 $ 5.79 $ 7.51- $9.50 97 1.12 $ 8.50 1,375 $ 4.49
Schedule of information about stock options exercisable	The following table summarizes information about stock options exercisable as of June 30, 2015 (in thousands except per share amounts): Options Exercisable Range of Exercise Price Exercisable as of June 30, 2015 Weighted Average Remaining Life (in Years) Weighted Average Exercise Price $ 0.00 - $2.50 56 0.35 $ 2.10 $ 2.51 - $3.50 59 4.85 $ 2.96 $ 3.51 - $5.50 414 2.84 $ 4.31 $ 5.51 - $7.50 - - $ - $ 7.51- $9.50 96 1.12 $ 8.50 625 $ 4.63

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Jun. 30, 2015
COMMITMENTS AND CONTINGENCIES [Abstract]
Operating lease obligations	Future minimum lease payments under non-cancelable operating leases as of June 30, 2015 are as follows (in thousands): Year Ended June 30, 2016 2017 2018 2019 2020 Thereafter Operating lease obligations $ 743 $ 846 $ 852 $ 867 $ 814 $ 113

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Jun. 30, 2015
EARNINGS PER SHARE [Abstract]
Earnings per share	The following information is necessary to calculate earnings per share for the periods presented (in thousands, except per share amounts): Year Ended June 30, 2015 2014 2013 Net income (loss), as reported $ 1,160 $ 956 $ (2,712 ) Weighted average common shares outstanding 15,327 15,289 15,255 Effect of dilutive stock options 237 112 - Weighted average diluted common shares outstanding 15,564 15,401 15,255 Net income (loss) per common share Basic $ 0.08 $ 0.06 $ (0.18 ) Diluted $ 0.07 $ 0.06 $ (0.18 ) Employee stock options excluded from computation of diluted income per share amounts because their effect would be anti-dilutive 210 655 728

SELECTED QUARTERLY FINANCIAL 26

SELECTED QUARTERLY FINANCIAL DATA (Unaudited) (Tables)	12 Months Ended
	Jun. 30, 2015
SELECTED QUARTERLY FINANCIAL DATA (Unaudited) [Abstract]
Schedule of quarterly financial information	The following tables show quarterly financial information for the years ended June 30, 2015 and 2014. The Company believes that all necessary adjustments have been included in the amounts below to present fairly the results of such periods (in thousands expect per share amounts). Quarter Ended September 30, 2014 December 31, 2014 March 31, 2015 June 30, 2015 Total revenues $ 7,047 $ 8,693 $ 6,171 $ 8,991 Cost of revenues $ 4,713 $ 5,465 $ 4,511 $ 5,218 Operating income (loss) $ (74 ) $ 744 $ (808 ) $ 1,374 Net income (loss) $ (74 ) $ 749 $ (812 ) $ 1,297 Net income (loss) per share - diluted $ (0.00 ) $ 0.05 $ (0.05 ) $ 0.08 Weighted average shares-diluted 15,288 15,423 15,360 15,804 Quarter Ended September 30, 2013 December 31, 2013 March 31, 2014 June 30, 2014 Total revenues $ 6,272 $ 7,649 $ 5,553 $ 7,096 Cost of revenues $ 3,948 $ 4,960 $ 4,144 $ 4,529 Operating income (loss) $ 130 $ 120 $ (935 ) $ 1,650 Net income (loss) $ 122 $ 120 $ (935 ) $ 1,649 Net income (loss) per share - diluted $ 0.01 $ 0.01 $ (0.06 ) $ 0.11 Weighted average shares-diluted 15,366 15,438 15,248 15,381

ORGANIZATION AND BACKGROUND (De

ORGANIZATION AND BACKGROUND (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2015USD ($)CustomerContractManufacturer	Jun. 30, 2014USD ($)Customer	Jun. 30, 2013Customer
Concentration Risk [Line Items]
Accounts receivable	$ 6,647	$ 4,728
Credit Concentration Risk [Member] | Accounts Receivable [Member]
Concentration Risk [Line Items]
Number of customers | Customer	1	1
Concentration risk, percentage (in hundredths)	7.00%	13.00%
Accounts receivable	$ 500	$ 600
Customer Concentration Risk [Member] | Sales Revenue, Services, Net [Member]
Concentration Risk [Line Items]
Number of customers | Customer	1	1	1
Concentration risk, percentage (in hundredths)	17.00%	20.00%	22.00%
Supplier Concentration Risk [Member]
Concentration Risk [Line Items]
Number of contract manufacturers | ContractManufacturer	3

SUMMARY OF SIGNIFICANT ACCOUN28

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	1 Months Ended									12 Months Ended
	Jan. 30, 2014Patent	Nov. 30, 2013Patent	Dec. 31, 2012Patent	Sep. 30, 2012Patent	Aug. 31, 2012Patent	Apr. 30, 2012Patent	Jan. 31, 2012Patent	Nov. 30, 2003Patent	Jun. 30, 1998Patent	Jun. 30, 2015USD ($)Patent	Jun. 30, 2014USD ($)	Jun. 30, 2013USD ($)
Revenue Recognition [Abstract]
Revenue recorded from bill and hold inventory										$ 2,600,000	$ 1,900,000	$ 1,100,000
Bill and hold inventory revenue										1,600,000	1,300,000
Income Taxes [Abstract]
Liability for uncertain tax positions										0	0
Tax adjustments												0
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense										$ 511,000	$ 438,000	$ 514,000
Valuation assumptions [Abstract]
Weighted average risk-free interest rate (in hundredths)										0.40%	0.60%	0.50%
Weighted average expected volatility (in hundredths)										45.00%	52.00%	58.00%
Weighted average expected life (in years)										3 years 5 months 26 days	4 years 14 days	4 years 7 months 10 days
Dividend yield (in hundredths)										0.00%	0.00%	0.00%
Cash and Cash Equivalents [Abstract]
Percentage of FDIC insured amount in savings account (in hundredths)										100.00%
Inventory [Abstract]
Total inventory										$ 2,738,000	$ 1,320,000
Finished goods										1,300,000	600,000
Raw materials										1,400,000	700,000
Loss on inventory write-down										$ 0	156,000	$ 0
Intangible Assets [Abstract]
Intangible assets description										Intangible assets consist of (i) permit costs related to the Company’s treatment facility in Carthage, Texas, (ii) eleven patents (two acquired in June 1998, one in November 2003, one in January 2012, two in April 2012, one in August 2012, one in September 2012, one in December 2012, one in November 2013 and one in January 2014), and (iii) defense costs related to certain existing patents.
Number of patents acquired | Patent	1	1	1	1	1	2	1	1	2	11
Estimated life of patents										17 years
Gross carrying amount of intangibles										$ 1,100,000	1,100,000
Accumulated amortization										385,000	330,000
Finite-Lived Intangible Assets [Line Items]
Amortization expense										100,000	100,000
Future amortization of intangible assets [Abstract]
2,016										56,000
2,017										55,000
2,018										53,000
2,019										53,000
2,020										53,000
Thereafter										396,000
Total										666,000
Advertising Costs [Abstract]
Advertising costs										600,000	500,000	500,000
Realization of Long-lived Assets [Abstract]
Impairment losses recognized										$ 0	0	100,000
Defined Contribution Plan Disclosure [Line Items]
Employers match percentage (in hundredths)										25.00%
Maximum annual percentage contribution per employee (in hundredths)										6.00%
Prior group health benefit plan, individual deductible										$ 2,000
Group health benefit plan, family deductible										2,000
Group health benefit plan, third party insurance company coverage beginning amount, individual										2,000
Group health benefit plan, third party insurance company coverage beginning amount, family										14,999
Aggregate stock-based compensation expense recognized for AIP										100,000
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense												100,000
Defined Contribution Plan Disclosure [Line Items]
Company contributions to the 401(k) plan										100,000	100,000	100,000
Self-insured liability, health insurance										$ 100,000	100,000
Internal Revenue Service (IRS) [Member]
Income Tax Contingency [Line Items]
Open tax years										Fiscal years ended June 30, 2012 and after
State of Texas [Member]
Income Tax Contingency [Line Items]
Open tax years										Fiscal years ended June 30, 2011 and after
State of Georgia [Member]
Income Tax Contingency [Line Items]
Open tax years										Fiscal years ended June 30, 2012 and after
States of Pennsylvania [Member]
Income Tax Contingency [Line Items]
Open tax years										Fiscal years ended June 30, 2012 and after
Other States [Member]
Income Tax Contingency [Line Items]
Open tax years										Fiscal years ended June 30, 2013 and after
Cost of Revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense										$ 22,000	18,000	21,000
Selling, General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense										$ 489,000	$ 420,000	$ 493,000

PROPERTY, PLANT AND EQUIPMENT29

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 9,846	$ 9,177
Less: accumulated depreciation	6,036	5,319
Net property, plant and equipment	3,810	3,858
Depreciation expense	800	1,100	$ 1,100
Depreciation expense included in cost of revenues	600	600	$ 700
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 192	192
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	3 years
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	5 years
Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 6,410	6,153
Plant and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	3 years
Plant and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	17 years
Manufacturing [Member]
Property, Plant and Equipment [Line Items]
Useful life	15 years
Gross property, plant and equipment	$ 220	252
Computers and Software [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 1,832	1,657
Computers and Software [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	3 years
Computers and Software [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	5 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 897	897
Leasehold Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	3 years
Leasehold Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	15 years
Land [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 19	19
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 276	$ 7

NOTES PAYABLE AND LONG-TERM D30

NOTES PAYABLE AND LONG-TERM DEBT (Details) - Jun. 30, 2015 - Credit Agreement [Member] - USD ($)	Total	Total
Line of Credit Facility [Line Items]
Period of line of credit	2 years
Maximum borrowing capacity	$ 9,000,000	$ 9,000,000
Percentage of eligible accounts receivable considered for borrowing base (in hundredths)	80.00%
Percentage of eligible inventory considered for borrowing base (in hundredths)	50.00%
Percentage of portion allocated to acquisition purchase price (in hundredths)	75.00%
Maturity period	5 years
Unused capacity, commitment fee percentage (in hundredths)		0.25%
Amount outstanding	$ 0	$ 0
Minimum debt service coverage ratio		1.15
Remaining borrowing capacity	8,700,000	$ 8,700,000
Minimum amount of tangible net worth to be maintained under financial covenants	12,500,000	12,500,000
Minimum amount of liquidity to be maintained under financial covenants	7,000,000	$ 7,000,000
Maturity date		Apr. 9, 2017
Letters of Credit [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	500,000	$ 500,000
Amount outstanding	300,000	300,000
Acquisitions [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 5,000,000	$ 5,000,000
Interest rate (in hundredths)	3.50%	3.50%
Description of variable rate basis	WSJ Prime
Basis spread of variable rate (in hundredths)	0.25%
Working Capital [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 4,000,000	$ 4,000,000
Interest rate (in hundredths)	3.25%	3.25%
Description of variable rate basis	WSJ Prime

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Current [Abstract]
Federal	$ 29	$ 13	$ 0
State	83	20	15
Current income tax expense (benefit), total	$ 112	$ 33	$ 15
Effective income tax rate reconciliation [Abstract]
Statutory rate (in hundredths)	34.00%	34.00%	34.00%
State income taxes, net (in hundredths)	5.30%	(6.90%)	(0.40%)
Meals and entertainment (in hundredths)	1.20%	1.20%	(0.50%)
Prior year adjustments and other (in hundredths)	0.00%	(4.00%)	0.50%
Effective rate before valuation allowance (in hundredths)	40.50%	24.30%	33.60%
Change in valuation allowance (in hundredths)	(31.70%)	(21.00%)	(34.20%)
Effective tax rate (in hundredths)	8.80%	3.30%	(0.60%)
Components of Deferred Tax Assets and Liabilities [Abstract]
Valuation deferred tax asset, change in amount	$ 400	$ 200	$ 900
Net operating loss carryforwards utilized	1,800	1,000
Deferred tax assets relating to:
Stock compensation	892	834
AMT and research and development credits	455	410
Deferred rent	44	23
Inventory	92	58
Professional fees	163	51
Accrued vacation	23	23
Accounts receivable allowance	13	8
Contribution carryovers	31	14
Net operating loss carryforwards	1,124	1,751
Total deferred tax assets	2,837	3,172
Deferred tax liabilities related to depreciation differences	(555)	(487)
Net deferred tax assets before valuation allowance	2,282	2,685
Valuation allowance	(2,282)	(2,685)
Net deferred tax assets	0	$ 0
Tax Credit Carryforward [Line Items]
Net operating loss	3,300
Tax credit carryforward, amount	400
Tax credit carryforward, amount expiration on June 30, 2031	200
Tax credit carryforward, amount expiration indefinitely	$ 200
Tax credit carryforward, expiration date	Jun. 30, 2030
Tax credit carryforward, expiration date	indefinitely
Minimum [Member]
Tax Credit Carryforward [Line Items]
Operating loss carryforwards, expiration dates	Jun. 30, 2031
Maximum [Member]
Tax Credit Carryforward [Line Items]
Operating loss carryforwards, expiration dates	Jun. 30, 2033

EQUITY TRANSACTIONS (Details)

EQUITY TRANSACTIONS (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Stock options exercised [Abstract]
Options Exercised (in shares)	61,109	13,125	100,445
Proceeds	$ 139	$ 47	$ 162
Average exercise price per share (in dollars per share)	$ 2.30	$ 3.53	$ 1.62
Stock repurchase program, authorized amount	$ 3,000
Stock repurchase program, period	2 years
Shares repurchased [Abstract]
Shares repurchased (in shares)	29,449	136,441	25,360
Cash paid for shares repurchased	$ 128	$ 607	$ 74
Average price paid per share (in dollars per share)	$ 4.35	$ 4.45	$ 2.93
Total shares repurchased under the program (in shares)	191,250	161,801
Total shares repurchased under the program, at cost	$ 809	$ 681
Amount remaining under repurchase program	$ 2,200

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Stock Option Activity [Rollforward]
Exercised (in shares)	(61,109)	(13,125)	(100,445)
Weighted Average Exercise Price [Abstract]
Exercised (in dollars per share)	$ 2.30	$ 3.53	$ 1.62
Non-vested award [Abstract]
Expense for non-vested awards	$ 0.6
Weighted average period for expense recognition	3 years
Options Outstanding [Abstract]
Outstanding (in shares)	1,375,000
Weighted average exercise price (in dollars per share)	$ 4.49
Options Exercisable [Abstract]
Exercisable (in shares)	625,000
Exercisable (in dollars per share)	$ 4.63
Stock Options [Member]
Stock Option Activity [Rollforward]
Beginning balance (in shares)	950,000	876,000	1,078,000
Granted (in shares)	516,000	244,000	178,000
Exercised (in shares)	(61,000)	(13,000)	(100,000)
Forfeited or canceled (in shares)	(30,000)	(157,000)	(280,000)
Ending balance (in shares)	1,375,000	950,000	876,000
Exercisable (in shares)	625,000
Weighted Average Exercise Price [Abstract]
Beginning balance (in dollars per share)	$ 4.27	$ 4.21	$ 4.60
Granted (in dollars per share)	4.63	3.95	2.90
Exercised (in dollars per share)	2.30	3.53	1.62
Forfeited or canceled (in dollars per share)	4.68	3.50	5.82
Ending balance (in dollars per share)	4.49	$ 4.27	$ 4.21
Exercisable (in dollars per share)	$ 4.63
Restricted Stock [Member]
Restricted stock activity [Rollforward]
Unvested at beginning of the year (in shares) (in shares)	15,000	15,000	17,000
Granted (in shares)	53,000	62,000	62,000
Vested (in shares)	(55,000)	(62,000)	(64,000)
Ending balance (in shares)	13,000	15,000	15,000
Weighted Average Fair Value [Abstract]
Grants (in dollars per share)	$ 4.28	$ 4.84	$ 2.48
Vested (in dollars per share)	$ 4.44	$ 4.25	$ 3.01
2010 Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common shares authorized (in shares)	3,000,000
Shares outstanding (in shares)	1,085,245
Options available for grant (in shares)	1,597,030	139,267	296,308
2010 Stock Plan [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration Period	7 years
2010 Stock Plan [Member] | Stock Options [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period	4 years
2010 Stock Plan [Member] | Stock Options [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period	3 years
2010 Stock Plan [Member] | Restricted Stock [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period	1 year
1993 Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common shares authorized (in shares)	4,000,000
Shares outstanding (in shares)	302,558
1993 Stock Plan [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period	3 years
Expiration Period	7 years
1993 Stock Plan [Member] | Restricted Stock [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period	3 years
1993 Stock Plan [Member] | Restricted Stock [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period	1 year
$0.00-$2.50
Options Outstanding [Abstract]
Range of exercise price, minimum (in dollars per share)	$ 0
Range of exercise price, maximum (in dollars per share)	$ 2.50
Outstanding (in shares)	56,000
Weighted average remaining life	4 months 6 days
Weighted average exercise price (in dollars per share)	$ 2.10
Options Exercisable [Abstract]
Exercisable (in shares)	56,000
Weighted average remaining life	4 months 6 days
Exercisable (in dollars per share)	$ 2.10
$2.51-$3.50
Options Outstanding [Abstract]
Range of exercise price, minimum (in dollars per share)	2.51
Range of exercise price, maximum (in dollars per share)	$ 3.50
Outstanding (in shares)	173,000
Weighted average remaining life	4 years 11 months 26 days
Weighted average exercise price (in dollars per share)	$ 2.97
Options Exercisable [Abstract]
Exercisable (in shares)	59,000
Weighted average remaining life	4 years 10 months 6 days
Exercisable (in dollars per share)	$ 2.96
$3.51-$5.50
Options Outstanding [Abstract]
Range of exercise price, minimum (in dollars per share)	3.51
Range of exercise price, maximum (in dollars per share)	$ 5.50
Outstanding (in shares)	939,000
Weighted average remaining life	4 years 7 months 6 days
Weighted average exercise price (in dollars per share)	$ 4.34
Options Exercisable [Abstract]
Exercisable (in shares)	414,000
Weighted average remaining life	2 years 10 months 2 days
Exercisable (in dollars per share)	$ 4.31
$5.51-$7.50
Options Outstanding [Abstract]
Range of exercise price, minimum (in dollars per share)	5.51
Range of exercise price, maximum (in dollars per share)	$ 7.50
Outstanding (in shares)	110,000
Weighted average remaining life	6 years 8 months 23 days
Weighted average exercise price (in dollars per share)	$ 5.79
Options Exercisable [Abstract]
Exercisable (in shares)	0
Weighted average remaining life
Exercisable (in dollars per share)	$ 0
$7.51-$9.50
Options Outstanding [Abstract]
Range of exercise price, minimum (in dollars per share)	7.51
Range of exercise price, maximum (in dollars per share)	$ 9.50
Outstanding (in shares)	97,000
Weighted average remaining life	1 year 1 month 13 days
Weighted average exercise price (in dollars per share)	$ 8.50
Options Exercisable [Abstract]
Exercisable (in shares)	96,000
Weighted average remaining life	1 year 1 month 13 days
Exercisable (in dollars per share)	$ 8.50

COMMITMENTS AND CONTINGENCIES34

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2015USD ($)ft²	Jun. 30, 2014USD ($)	Jun. 30, 2013USD ($)	Aug. 05, 2015USD ($)ft²
Operating Leases [Line Items]
Area of leased space | ft²	119,489
Rent expense	$ 1,300	$ 1,300	$ 1,200
Future minimum lease payments [Abstract]
2,016	743
2,017	846
2,018	852
2,019	867
2,020	814
Thereafter	113
Legal Settlement [Abstract]
Settlement agreement cash paid	$ 1,500
Warehouses [Member]
Operating Leases [Line Items]
Option to renew lease, term	5 years
Office space [Member]
Operating Leases [Line Items]
Option to renew lease, term	10 years
Office space [Member] | Subsequent Event [Member]
Operating Leases [Line Items]
Area of leased space | ft²				9,368
Future minimum lease payments [Abstract]
2,016				$ 100
2,017				200
2,018				200
2,019				200
2,020				200
Thereafter				$ 100

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
EARNINGS PER SHARE [Abstract]
Net income (loss), as reported	$ 1,297	$ (812)	$ 749	$ (74)	$ 1,649	$ (935)	$ 120	$ 122	$ 1,160	$ 956	$ (2,712)
Weighted average common shares outstanding (in shares)									15,327,000	15,289,000	15,255,000
Effect of dilutive stock options (in shares)									237,000	112,000	0
Weighted average diluted common shares outstanding (in shares)	15,804	15,360	15,423	15,288	15,381	15,248	15,438	15,366	15,564,000	15,401,000	15,255,000
Net income (loss) per common share [Abstract]
Basic (in dollars per share)									$ 0.08	$ 0.06	$ (0.18)
Diluted (in dollars per share)	$ 0.08	$ (0.05)	$ 0.05	$ 0	$ 0.11	$ (0.06)	$ 0.01	$ 0.01	$ 0.07	$ 0.06	$ (0.18)
Employee stock options excluded from computation of diluted income per share amounts because their effect would be anti-dilutive (in shares)									210,000	655,000	728,000

SELECTED QUARTERLY FINANCIAL 36

SELECTED QUARTERLY FINANCIAL DATA (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
SELECTED QUARTERLY FINANCIAL DATA (Unaudited) [Abstract]
Total revenues	$ 8,991	$ 6,171	$ 8,693	$ 7,047	$ 7,096	$ 5,553	$ 7,649	$ 6,272	$ 30,902	$ 26,570	$ 21,530
Cost of revenues	5,218	4,511	5,465	4,713	4,529	4,144	4,960	3,948	19,907	17,581	15,183
Operating income (loss)	1,374	(808)	744	(74)	1,650	(935)	120	130	1,236	965	(2,709)
Net income (loss)	$ 1,297	$ (812)	$ 749	$ (74)	$ 1,649	$ (935)	$ 120	$ 122	$ 1,160	$ 956	$ (2,712)
Net income (loss) per share - diluted (in dollars per share)	$ 0.08	$ (0.05)	$ 0.05	$ 0	$ 0.11	$ (0.06)	$ 0.01	$ 0.01	$ 0.07	$ 0.06	$ (0.18)
Weighted average shares-diluted (in shares)	15,804	15,360	15,423	15,288	15,381	15,248	15,438	15,366	15,564,000	15,401,000	15,255,000

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ in Millions	Jul. 17, 2015USD ($)
Subsequent Event [Member] | Alpha Bio/Med Services LLC [Member]
Subsequent Event [Line Items]
Purchase price of acquisition	$ 0.7