L.S. Starrett Co. - Ordinary Shares (SCX) 10-K 24 Aug 16 2016 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2016	Aug. 19, 2016	Dec. 31, 2015
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		770,101
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		6,255,894
Entity Registrant Name	STARRETT L S CO
Entity Central Index Key	93,676
Trading Symbol	scx
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Public Float			$ 60,338,455
Document Type	10-K
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Jun. 30, 2016	Jun. 30, 2015
Common Class A [Member]
Stockholders’ equity:
Common stock		$ 6,250	$ 6,224
Common Class B [Member]
Stockholders’ equity:
Common stock		773	789
Cash		19,794	11,108
Short-term investments			7,855
Accounts receivable (less allowance for doubtful accounts of $887 and $612, respectively)		34,367	40,311
Inventories		56,321	63,003
Current deferred tax asset		4,518	4,554
Prepaid expenses and other current assets		5,911	6,582
Total current assets	[1]	120,911	133,413
Property, plant and equipment, net		41,010	44,413
Taxes receivable		2,655	3,383
Deferred tax assets, net		25,284	18,803
Intangible assets, net		6,490	7,125
Goodwill		3,034	3,034
Other assets		2,214	2,101
Total assets		201,598	212,272
Notes payable and current maturities of long-term debt		1,543	1,552
Accounts payable		8,981	9,471
Accrued expenses		6,372	7,011
Accrued compensation		4,922	5,565
Total current liabilities		21,818	23,599
Deferred tax liabilities		187	1,548
Other tax obligations		3,813	4,607
Long-term debt, net of current portion		17,109	18,552
Postretirement benefit and pension obligations		67,158	49,536
Total liabilities		110,085	97,842
Additional paid-in capital		55,227	54,869
Retained earnings		81,228	98,164
Accumulated other comprehensive loss		(51,965)	(45,616)
Total stockholders’ equity		91,513	114,430
Total liabilities and stockholders’ equity		$ 201,598	$ 212,272
[1]	Current assets primarily consist of accounts receivable, inventories and prepaid expenses. Assets not allocated to the segments include cash and cash equivalents, deferred income taxes, and other non-current assets.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015
Common Class A [Member]
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, authorized (in shares)	20,000,000	20,000,000
Common stock, outstanding (in shares)	6,249,563	6,223,558
Common Class B [Member]
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, authorized (in shares)	10,000,000	10,000,000
Common stock, outstanding (in shares)	772,742	789,069
Allowance for doubtful accounts	$ 887	$ 612

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands	12 Months Ended
	Jun. 30, 2016		Jun. 30, 2015		Jun. 30, 2014
Net sales	$ 209,685,000	[1]	$ 241,550,000	[2]	$ 247,134,000	[3]
Cost of goods sold	162,697,000		164,855,000		166,038,000
Gross margin	$ 46,988,000		$ 76,695,000		$ 81,096,000
% of net sales	22.40%		31.80%		32.80%
Selling, general and administrative expenses	$ 63,319,000		$ 68,092,000		$ 69,181,000
Impairment of building	4,114,000
Operating income (loss)	(20,445,000)		8,603,000		11,915,000
Other income, net	70,000		1,339,000		142,000
Earnings (loss) before income taxes	(20,375,000)		9,942,000		12,057,000
Income tax expense (benefit)	(6,245,000)		4,698,000		5,345,000
Net earnings (loss)	$ (14,130,000)		$ 5,244,000		$ 6,712,000
Basic and diluted earnings (loss) per share (in dollars per share)	$ (2.01)		$ 0.75		$ 0.97
Average outstanding shares used in per share calculations:
Basic (in shares)	7,017		6,983		6,926
Diluted (in shares)	7,017		7,023		6,955
Dividends per share declared (in dollars per share)	$ 0.40		$ 0.40		$ 0.40
[1]	Excludes $8,259 of North American segment sales to the International segment and $9,282 sales of the International segment to the North American segment.
[2]	Excludes $12,276 of North American segment sales to the International segment and $9,842 sales of the International segment to the North American segment.
[3]	Excludes $17,692 of North American segment sales to the International segment and $8,585 sales of the International segment to the North American segment.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Net earnings (loss)	$ (14,130)	$ 5,244	$ 6,712
Other comprehensive income (loss):
Translation gain (loss)	(4,585)	(18,989)	3,323
Pension and postretirement plans, net of tax of $(1,371), $(3,857) and $1,212 respectively	(1,764)	(6,202)	728
Other comprehensive income (loss)	(6,349)	(25,191)	4,051
Total comprehensive income (loss)	$ (20,479)	$ (19,947)	$ 10,763

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Loss) (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Pension and postretirement plans, tax	$ (1,371)	$ (3,857)	$ 1,212

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]Common Class A [Member]	Common Stock [Member]Common Class B [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance at Jun. 30, 2013	$ 6,077	$ 750	$ 52,613	$ 91,778	$ (24,476)	$ 126,742
Total comprehensive income				6,712	4,051	10,763
Dividends ($0.40 per share)				(2,775)		(2,775)
Issuance of stock	30	104	1,296			1,430
Stock-based compensation			154			154
Conversion	59	(59)
Balance at Jun. 30, 2014	6,166	795	54,063	95,715	(20,425)	136,314
Total comprehensive income				6,712	4,051	10,763
Total comprehensive income				5,244	(25,191)	(19,947)
Dividends ($0.40 per share)				(2,795)		(2,795)
Issuance of stock	23	33	632			688
Stock-based compensation			238			238
Conversion	36	(36)
Balance at Jun. 30, 2015	6,224	789	54,869	98,164	(45,616)	114,430
Total comprehensive income				5,244	(25,191)	(19,947)
Repurchase of shares	(1)	(3)	(64)			(68)
Cumulative balance:
						(45,616)
Total comprehensive income				(14,130)	(6,349)	(20,479)
Dividends ($0.40 per share)				(2,806)		(2,806)
Issuance of stock	34	18	530			582
Stock-based compensation			249			249
Conversion	29	(29)
Balance at Jun. 30, 2016	6,250	773	55,227	81,228	(51,965)	91,513
Total comprehensive income				(14,130)	(6,349)	(20,479)
Repurchase of shares	$ (37)	$ (5)	$ (421)			(463)
Cumulative balance:
Translation loss, net of taxes					(41,886)
Pension and postretirement plans, net of taxes					(10,079)
					$ (51,965)	$ (51,965)

Consolidated Statements of Sto8

Consolidated Statements of Stockholders' Equity (Parentheticals) - $ / shares	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Retained Earnings [Member]
Dividends per share declared (in dollars per share)	$ 0.40	$ 0.40	$ 0.40
Dividends per share declared (in dollars per share)	$ 0.40	$ 0.40	$ 0.40

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
The 2013 ESOP [Member]
Supplemental disclosure of non-cash activities:
Issuance of stock under 2013 ESOP			$ 773,000
Net earnings (loss)	(14,130,000)	5,244,000	6,712,000
Depreciation	5,832,000	7,434,000	8,177,000
Amortization	1,382,000	1,283,000	1,181,000
Impairment of building	4,114,000
Stock-based compensation	404,000	362,000	251,000
Net long-term tax obligations	(256,000)	2,414,000	780,000
Deferred taxes	(6,888,000)	985,000	1,329,000
Income on equity method investment	(118,000)	(203,000)	(257,000)
Loss on disposal of building			89,000
Accounts receivable	2,774,000	(2,615,000)	(4,491,000)
Inventories	3,615,000	(6,185,000)	(7,526,000)
Other current assets	309,000	483,000	818,000
Other current liabilities	1,443,000	780,000	1,871,000
Postretirement benefit and pension obligations	15,833,000	(3,426,000)	2,073,000
Other	22,000	244,000	168,000
Net cash provided by operating activities	14,336,000	6,800,000	11,175,000
Additions to property, plant and equipment	(7,493,000)	(5,052,000)	(8,464,000)
Software development	(747,000)	(648,000)	(372,000)
Purchase of short-term investments		(45,000)	(107,000)
Proceeds from sale of short-term investments	7,621,000	201,000
Proceeds from sale of building			596,000
Net cash used in investing activities	(619,000)	(5,544,000)	(8,347,000)
Proceeds from borrowings	750,000	900,000	500,000
Short-term debt repayments			(425,000)
Long-term debt repayments	(2,202,000)	(2,148,000)	(4,529,000)
Proceeds from common stock issued	427,000	564,000	560,000
Repurchase of shares	(463,000)	(68,000)
Dividends paid	(2,806,000)	(2,795,000)	(2,775,000)
Net cash used in financing activities	(4,294,000)	(3,547,000)	(6,669,000)
Effect of translation rate changes on cash	(737,000)	(2,834,000)	319,000
Net increase (decrease) in cash	8,686,000	(5,125,000)	(3,522,000)
Cash beginning of year	11,108,000	16,233,000	19,755,000
Cash end of year	19,794,000	11,108,000	16,233,000
Interest paid	654,000	724,000	813,000
Taxes paid, net	$ 1,113,000	$ 2,169,000	$ 3,476,000

Note 1 - Description of Busines

Note 1 - Description of Business	12 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Nature of Operations [Text Block]	1. DESCRIPTION OF BUSINESS The L. S. Starrett Company (the “Company”) is incorporated in the Commonwealth of Massachusetts and is in the business of manufacturing industrial, professional and consumer measuring and cutting tools and related products. The Company’s manufacturing operations are primarily in North America, Brazil, China and the United Kingdom. The largest consumer of these products is the metalworking industry, but others include automotive, aviation, marine, farm, do-it-yourselfers and tradesmen such as builders, carpenters, plumbers and electricians.

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	12 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. SIGNIFICANT ACCOUNTING POLICIES Principles of consolidation Financial instruments and derivatives Accounts receivable Inventories Property Plant and Equipment Intangible assets Goodwill Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. Goodwill is not subject to amortization but is tested for impairment annually and at any time when events suggest impairment may have occurred. The Company annually tests the goodwill associated with the November 2011 acquisition of Bytewise in October. As of October 1, 2015, the Company performed an analysis of qualitative factors to determine whether it is more likely than not that the fair value of the Bytewise business is less than its carrying amount as a basis for determining whether it is necessary to perform a two-step goodwill impairment test. Based on the Company's analysis of qualitative factors, the Company determined that it was not necessary to perform a two-step goodwill impairment test. Revenue recognition Advertising costs Freight costs Warranty expense Pension and Other Postretirement Benefits: The Company sponsors funded U.S. and non-U.S. defined benefit pension plans covering the majority of our U.S. and U.K. employees. The Company also sponsors an unfunded postretirement benefit plan that provides health care benefits and life insurance coverage to eligible U.S. retirees. Under the Company’s current accounting method, both pension plans use fair value as the market-related value of plan assets and continue to recognize actuarial gains or losses within the corridor in other comprehensive income (loss) but instead of amortizing net actuarial gains or losses in excess of the corridor in future periods, such excess gains and losses, if any, are recognized in net periodic benefit cost as of the plan measurement date, which is the same as the fiscal year end of the Company (MTM adjustment). This method is a permitted option which results in immediate recognition of excess net actuarial gains and losses in net periodic benefit cost instead of in other comprehensive income (loss). Such immediate recognition in net periodic benefit cost increases the volatility of net periodic benefit cost. The MTM adjustments to net periodic benefit cost for 2016, 2015 and 2014 were $17.8 million, $1.3 million, and $0.4 million, respectively. Income taxes Research and development Earnings per share (EPS) Translation of foreign currencies Use of accounting estimates Recent Accounting Pronouncements In May 2014, the FASB issued a new standard related to the “Revenue from Contracts with Customers” which amends the existing accounting standards for revenue recognition. The standard requires entities to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration the entity expects to be entitled to in exchange for those goods or services. This standard is applicable for fiscal years beginning after December 15, 2017 and for interim periods within those years. Earlier application will be permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company expects to adopt this standard on July 1, 2017. The Company is currently evaluating the impact of the adoption of this standard on its consolidated financial statements. In November 2015, the FASB issued Accounting Standards Update No. 2015-17 ("ASU 2015-17") regarding ASC Topic 470 "Income Taxes: Balance Sheet Classification of Deferred Taxes." The amendments in ASU 2015-17 eliminate the requirement to bifurcate Deferred Taxes between current and non-current on the balance sheet and requires that all deferred tax liabilities and assets be classified as noncurrent on the balance sheet. T he amendments for ASU-2015-17 can be applied retrospectively or prospectively and early adoption is permitted. The Company plans to adopt the new guidance prospectively in the first quarter of fiscal 2017. Implementation will have no effect on the Consolidated Statement of Operations but is expected to result in a change in classification for $4.5 million of tax assets from short-term to long-term. In July 2015, the FASB issued ASU No. 2015-11, "Inventory (Topic 330): Simplifying the Measurement of Inventory." Previous to the issuance of this ASU, ASC 330 required that an entity measure inventory at the lower of cost or market. ASU 2015-11 specifies that “market” is defined as “net realizable value,” or the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. This ASU is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2016. Application is to be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. The adoption of ASU No. 2015-11 will not have a material impact on our consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)”. The ASU requires that organizations that lease assets recognize assets and liabilities on the balance sheet for the rights and obligations created by those leases. The ASU will affect the presentation of lease related expenses on the income statement and statement of cash flows and will increase the required disclosures related to leases. This ASU is effective for annual periods ending after December 15, 2018, and interim periods thereafter, with early adoption permitted. The Company is currently evaluating the impact of ASU No. 2016-02 on its consolidated financial statements. It is expected that a key change upon adoption will be the balance sheet recognition of leased assets and liabilities and that any changes in income statement recognition will not be material. In March 2016, the FASB issued ASU No. 2016-09, "Compensation - Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting." The ASU affects the accounting for employee share-based payment transactions as it relates to accounting for income taxes, accounting for forfeitures, and statutory tax withholding requirements. This ASU is effective for annual periods ending after December 15, 2016, and interim periods within those periods with early adoption permitted. The Company is currently evaluating the impact of ASU No. 2016-09 on its consolidated financial statements.

Note 3 - Investment

Note 3 - Investment	12 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	3. INVESTMENT In fiscal 2010, the Company entered into an agreement with a private software development company to invest $1.5 million in exchange for a 36% equity interest therein. The Company recorded other income of $0.1 million in fiscal 2016, $0.2 million in fiscal 2015 and $0.3 million in fiscal 2014 based on the earnings of this entity as allocated under the equity method of accounting. The net carrying value of the investment included in other long-term assets in the Consolidated Balance Sheet as of June 30, 2016 and June 30, 2015 is $2.2 million and $2.1 million, respectively. In August 2011, the Company guaranteed a loan of $0.5 million. The guarantee remains outstanding, between the private software development company and Starrett. There was no amount outstanding under the loan as of June 30, 2016.

Note 4 - Stock-based Compensati

Note 4 - Stock-based Compensation	12 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	4. STOCK-BASED COMPENSATION Long - Term Incentive Plan During the quarter ended December 31, 2012, the Company implemented The L.S. Starrett Company 2012 Long -Term Incentive Plan (the “2012 Stock Incentive Plan”), which was adopted by the Board of Directors September 5, 2012 and approved by shareholders October 17, 2012. The 2012 Stock Incentive Plan permits the granting of the following types of awards to officers, other employees and non-employee directors: stock options; restricted stock awards; unrestricted stock awards; stock appreciation rights; stock units including restricted stock units; performance awards; cash-based awards; and awards other than previously described that are convertible or otherwise based on stock. The 2012 Stock Incentive Plan provides for the issuance of up to 500,000 shares of common stock. Options granted vest in periods ranging from one year to three years and expire ten years after the grant date. Restricted stock units (“RSU”) granted generally vest from one year to three years. Vested restricted stock units will be settled in shares of common stock. As of June 30, 2016, there were 20,000 stock options and 73,367 restricted stock units outstanding. In addition, there were 391,600 shares available for grant under the 2012 Stock Incentive Plan as of June 30, 2016. For the stock option grants, the fair value of each grant is estimated at the date of grant using the Binomial Options pricing model. The Binomial Options pricing model utilizes assumptions related to stock volatility, the risk-free interest rate, the dividend yield and employee exercise behavior. Expected volatilities utilized in the model are based on the historic volatility of the Company’s stock price. The risk free interest rate is derived from the U.S. Treasury yield curve in effect at the time of the grant. The expected life is determined using the average of the vesting period and contractual term of the options (simplified method). There were no stock options granted during fiscal years 2016 , 2015 or 2014 . The weighted average contractual term for stock options outstanding as of June 30, 2016 was 6.5 years. The aggregate intrinsic value of stock options outstanding as of June 30, 2016 was less than $0 .1 million. There were 20,000 options exercisable as of June 30, 2016. In recognizing stock compensation expense for the 2012 Stock Incentive Plan management has estimated that there will be no forfeitures of options. The Company accounts for RSU awards by recognizing the expense of the intrinsic value at the award date ratably over vesting periods generally ranging from one year to three years. The related expense is included in selling, general and administrative expenses. During the year ended June 30, 2016, the Company granted 40,200 RSU awards with fair values of $15.11 per RSU award. During the year ended June 30, 2015, the Company granted 39,500 RSU awards with fair values of $17.49 per RSU award. There were no RSU awards during the year ended June 30, 2014. There were 9,067 and 2,733 RSU awards settled in fiscal years 2016 and 2015 respectively. The aggregate intrinsic value of RSU awards outstanding as of June 30, 2016 was $0.9 million. The aggregate intrinsic value of RSU awards outstanding as of June 30, 2015 was $0.8 million. Compensation expense related to the 2012 Stock Incentive Plan was $214,000, $146,000 and $54,000 for fiscal 2016, 2015 and 2014 respectively. As of June 30, 2016 there was $1.0 million of total unrecognized compensation costs related to outstanding stock-based compensation arrangements. Of this cost $0.7 million relates to performance based RSU grants that are not expected to be awarded. The remaining $0.3 million is expected to be recognized over a weighted average period of 1.5 years. Employee Stock Purchase Plan The Company’s Employee Stock Purchase Plans (ESPP) give eligible employees an opportunity to participate in the success of the Company. The Board of Directors renews each Employee Stock Purchase Plan every five years. Under these plans the purchase price of the optioned stock is 85% of the lower of the market price on the date the option is granted or the date it is exercised. Options become exercisable exactly two years from the date of grant and expire if not exercised on such date. No options were exercisable at fiscal year ends. The Board of Directors last approved an ESPP renewal in 2012 and authorized 500,000 shares available for grant. A summary of option activity is as follows: Shares On Option Weighted Average Exercise Price Shares Available For Grant Balance, June 30, 2013 88,728 448,544 Options granted 43,643 10.91 (43,643 ) Options exercised (26,225 ) 9.83 - Options canceled (30,758 ) 19,711 Balance, June 30, 2014 75,388 424,612 Options granted 35,208 13.97 (35,208 ) Options exercised (30,718 ) 8.82 - Options canceled (25,571 ) 25,571 Balance, June 30, 2015 54,307 414,975 Options granted 52,836 9.37 (52,836 ) Options exercised (15,523 ) 9.57 - Options canceled (27,705 ) 27,705 Balance, June 30, 2016 63,915 389,844 The following information relates to outstanding options as of June 30, 2016: Weighted average remaining life (years) 1.3 Weighted average fair value on grant date of options granted in: 2014 $ 3.37 2015 4.68 2016 3.34 The fair value of each option grant was estimated on the date of grant based on the Black-Scholes option pricing model with the following weighted average assumptions: expected volatility – 40.06% – 42.03%, interest – 0.75% – 0.77%, and expected lives - 2 years. Compensation expense of $143,065, $139,006 and $138,677 has been recorded for fiscal 2016, 2015 and 2014, respectively. Employee Stock Ownership Plan On February 5, 2013, the Board of Directors adopted The L.S. Starrett Company 2013 Employee Stock Ownership Plan (the “2013 ESOP”). The purpose of the plan is to supplement existing Company programs through an employer funded individual account plan dedicated to investment in common stock of the Company, thereby encouraging increased ownership of the Company while providing an additional source of retirement income. The plan is intended as an employee stock ownership plan within the meaning of Section 4975 (e) (7) of the Internal Revenue Code of 1986, as amended. U.S. employees who have completed a year of service as of December 31, 2012 are eligible to participate. There was no compensation expense for the 2013 ESOP in 2014 , 2015 or 2016. Shares of Class B common stock were contributed to the 2013 ESOP on July 30, 2013 in order to fund the 2013 liability.

Note 5 - Cash and Short-term In

Note 5 - Cash and Short-term Investments	12 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Cash, Cash Equivalents, and Short-term Investments [Text Block]	5. CASH AND SHORT-TERM INVESTMENTS Cash and investments held by foreign subsidiaries amounted to $10.2 million and $12.0 million at June 30, 2016 and June 30, 2015, respectively. Of the June 30, 2016 balance, $6.7 million in U.S. dollar equivalents was held in British Pounds Sterling and $1.6 million in U.S. dollar equivalents was held in Brazilian Reals. The Company plans to permanently reinvest cash held in foreign subsidiaries. Cash held in foreign subsidiaries is not available for use in the U.S. without the likely incurrence of U.S. federal and state income tax consequences. As of June 30, 2015, the Company’s U.K. subsidiary held a $7.9 million 12 month fixed term deposit with a financial institution.

Note 6 - Inventories

Note 6 - Inventories	12 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Inventory Disclosure [Text Block]	6. INVENTORIES Inventories consist of the following (in thousands): June 30, 2016 June 30, 2015 Raw materials and supplies $ 29,209 $ 32,784 Goods in process and finished parts 16,459 18,569 Finished goods 39,449 39,689 85,117 91,042 LIFO reserve (28,796 ) (28,039 ) $ 56,321 $ 63,003 LIFO inventories were $10.5 million and $14.6 million at June 30, 2016 and June 30, 2015, respectively, such amounts being approximately $28.8 million and $28.0 million, respectively, less than if determined on a FIFO basis. The use of LIFO compared to FIFO on an annual basis resulted in a $0.8 million increase in cost of goods sold in fiscal 2016 compared to an increase in cost of goods sold of $0.7 million in fiscal 2015.

Note 7 - Goodwill and Intangibl

Note 7 - Goodwill and Intangibles	12 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	7. GOODWILL AND INTANGIBLES The following tables present information about the Company’s goodwill and identifiable intangible assets on the dates indicated (in thousands): June 30, 2016 June 30, 2015 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Goodwill $ 3,034 $ - $ 3,034 $ 3,034 $ - $ 3,034 Identifiable intangible assets 12,115 (5,625 ) 6,490 11,368 (4,243 ) 7,125 Identifiable intangible assets consist of the following (in thousands): June 30, 2016 June 30, 2015 Non-compete agreements $ 600 $ 600 Trademarks and trade names 1,480 1,480 Completed technology 2,358 2,358 Customer relationships 4,950 4,950 Software development 2,402 1,655 Other intangible assets 325 325 Total 12,115 11,368 Accumulated amortization (5,625 ) (4,243 ) Total net balance $ 6,490 $ 7,125 Identifiable intangible assets are being amortized on a straight-line basis over the period of expected economic benefit. The estimated aggregate amortization expense for each of the next five years, and thereafter, is as follows (in thousands): Fiscal Year 2017 $ 1,581 2018 1,513 2019 1,434 2020 911 2021 508 Thereafter 543 The Company performed a qualitative analysis in accordance with ASU 2011-08 of its Bytewise reporting unit for its October 1, 2015 annual assessment of goodwill (commonly referred to as “Step Zero”). From a qualitative perspective, in evaluating whether it is more likely than not that the fair value of the reporting units is not less than its carrying amount, relevant events and circumstances were taken into account, with greater weight assigned to events and circumstances that most affect the fair value of Bytewise or the carrying amounts of its assets. Items that were considered included, but were not limited to, the following: macroeconomic conditions, industry and market conditions, cost factors, overall financial performance, changes in management or key personnel, and other Bytewise specific events. After assessing these and other factors the Company determined that it was more likely than not that the fair value of the Bytewise reporting unit was not less than the carrying amount as of October 1, 2015. There were no triggering events identified from the annual assessment date through the fiscal year-end.

Note 8 - Property, Plant and Eq

Note 8 - Property, Plant and Equipment	12 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	8. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consists of the following as of June 30, 2016 and 2015 (in thousands): As of June 30, 2016 Cost Accumulated Depreciation Net Land $ 1,314 $ - $ 1,314 Buildings and building improvements 45,486 (29,595 ) 15,891 Machinery and equipment 126,882 (103,077 ) 23,805 Total $ 173,682 $ (132,672 ) $ 41,010 As of June 30, 2015 Cost Accumulated Depreciation Net Land $ 1,320 $ - $ 1,320 Buildings and building improvements 45,434 (25,210 ) 20,224 Machinery and equipment 132,788 (109,919 ) 22,869 Total $ 179,542 $ (135,129 ) $ 44,413 No assets under capital leases are included in machinery and equipment as of June 30, 2016 or June 30, 2015. Operating lease expense was $2.3 million, $2.2 million and $1.9 million in fiscal 2016, 2015 and 2014, respectively. Future commitments under operating leases are as follows (in thousands): Fiscal Year 2017 $ 2,204 2018 2,040 2019 1,876 2020 1,614 2021 1,685 Thereafter 2,191 11,610

Note 9 - Impairment of Assets

Note 9 - Impairment of Assets	12 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Asset Impairment Charges [Text Block]	9. IMPAIRMENT OF ASSETS In fiscal 2016, the Company adopted a plan to transfer the production of certain saw products from its facility in Mt. Airy, North Carolina to its facility in Itú, Brazil. The Company expects the transfer will be completed in fiscal 2017. Because the transfer will leave one of the buildings at the Mt. Airy facility vacant, the Company determined that the carrying value of the building exceeds its fair value. Consequently, the Company recorded an impairment loss of $4,114,000, which represents the excess of the carrying value of the building over its fair value. The impairment loss is recorded as a separate line item (‘‘Impairment of assets’’) in the Consolidated Statement of Operations for fiscal 2016.

Note 10 - Other Income and Expe

Note 10 - Other Income and Expense	12 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Other Income and Other Expense Disclosure [Text Block]	10. OTHER INCOME AND EXPENSE Other income and expense consists of the following (in thousands): 2016 2015 2014 Interest income $ 504 828 $ 951 Interest expense (669 ) (713 ) (800 ) Foreign currency gain (loss), net (59 ) 705 (840 ) Income from equity investment 118 203 257 Brazil recovery of export taxes - 232 - Sale of scrap material 95 93 126 Gain on resolution of contingency - - 89 Other income (expense), net 81 (9 ) 359 $ 70 1,339 $ 142 The gain on resolution of contingency represents damages awarded in a Brazilian lawsuit which the Company had filed as plaintiff in 2003.

Note 11 - Income Taxes

Note 11 - Income Taxes	12 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	11 . INCOME TAXES Components of earnings (loss) before income taxes are as follows (in thousands): 2016 2015 2014 Domestic operations $ (17,541 ) $ 8,118 $ 5,793 Foreign operations (2,834 ) 1,824 6,264 $ (20,375 ) $ 9,942 $ 12,057 The provision for income taxes consists of the following (in thousands): 2016 2015 2014 Current: Federal $ (317 ) $ 1,744 $ 155 Foreign 866 1,855 3,284 State 94 114 86 Deferred: Federal (6,092 ) 670 2,175 Foreign 47 (71 ) (426 ) State (843 ) 386 71 $ (6,245 ) $ 4,698 $ 5,345 Reconciliations of expected tax expense at the U.S. statutory rate to actual tax expense (benefit) are as follows (in thousands): 2016 2015 2014 Expected tax expense $ (6,928 ) $ 3,380 $ 4,099 State taxes, net of federal effect (740 ) 378 269 Foreign taxes, net of federal credits 278 235 123 Change in valuation allowance 196 (51 ) (428 ) Tax reserve adjustments 250 361 465 Return to provision and other adjustments (167 ) (332 ) (265 ) Losses not benefited 885 701 350 Tax rate change applied to deferred tax balances - - 278 Other permanent items (19 ) 26 454 Actual tax expense (benefit) $ (6,245 ) $ 4,698 $ 5,345 Significant changes in tax expense reconciliation in the year ended June 30, 2016 relate primarily to losses in both domestic and foreign entities. Substantial benefit is reflected for US federal and state income taxes primarily as a result of increases in deferred tax assets related to pension expense and the write-down of fixed assets. In fiscal 2016, several of the subsidiaries in foreign countries reported financial losses. In these cases, no tax benefit from those losses was recognized and an additional valuation allowance was taken to reduce any deferred tax assets since future income is not more likely than not to be recognized. The tax rate in fiscal 2015 was higher than in the previous year both because the losses that were not able to be benefitted for tax purposes were significantly higher and because the Company received no benefit from the lower statutory tax rate in those countries. There was a dividend of $2.3 million paid from the Company’s subsidiary in Brazil to the U.S. parent company out of the subsidiary’s fiscal 2015 earnings. While the dividend is fully taxable in the U.S., the impact to tax expense was negligible due to the use of foreign tax credits. In fiscal 2014, the tax authorities in China reviewed the intercompany transfer pricing of a Chinese subsidiary and made adjustments to the prices for tax purposes to the calendar years 2010 through 2012. The net result was a substantial reduction in the Company’s carryforward tax losses and a small payment of tax and penalties; the net effect was to increase tax expense by $0.2 million which is included in the tax reserve adjustments. Since the Company had a history of tax losses, there was a full valuation allowance reflected against the tax impact of the loss carryforward at June 30, 2013. The entity also had substantial profits in fiscal 2014. As a result, the full amount of its carryforward tax losses, after audit adjustments, were utilized and the valuation allowance reducing the deferred tax assets for those losses and other temporary differences was released. The effect was a reduction in the valuation allowance of $0.4 million in fiscal 2014 . The Company recorded a $0.3 million deferred income tax expense in the year ended June 30, 2014 to reflect the impact of a corporate tax rate reduction in the United Kingdom. The tax rate reduction from 23 percent to 20 percent received royal assent during fiscal 2014 and the impact of that reduction on our deferred tax assets was recorded in the first quarter of that year. Total deferred tax assets net of deferred tax liabilities at June 30, 2016 are $29.6 million. While these deferred tax assets reflect the tax effect of temporary differences between book and taxable income in all jurisdictions in which the Company has operations, the majority of the assets relate to operations in the U.S. where the Company had book losses in the current year. The Company has considered the positive and negative evidence to determine the need for a valuation allowance offsetting the deferred tax assets in the U.S. and has concluded that it is more likely than not that the deferred tax assets net of the recorded valuation allowance will be realized. Key positive evidence considered include: a) Significant domestic book profits in 2014 and 2015; b) losses in fiscal 2016 are primarily due to one-time events including a $19 million pension expense, most of which is not deductible for tax purposes until paid; c) cost saving plans are being implemented by the Company; d) prior year taxable income is available for carryback losses; e) tax planning opportunities, including an election to revoke the LIFO election; and f) forecasted domestic profits for future years. The negative evidence considered is that fiscal 2016 showed domestic book and tax losses . A valuation allowance has been provided on certain foreign NOLs due to the uncertainty of generating future taxable income in those jurisdictions. Similarly, a valuation allowance has been provided on certain U.S. state NOLs as a result of their much shorter carryforward periods and the uncertainty of generating adequate taxable income at the entity and state level. In addition, a valuation allowance has been provided for foreign tax credit carryforwards due to the uncertainty of generating sufficient foreign source income in the future. In fiscal 2016, the valuation allowance increased by $0.7 million primarily due to the increase for foreign losses. In fiscal 2015, the valuation allowance increased by $1.2 million - $0.7 million due to the increase in foreign carryforward losses and $0.5 million due to the increase in foreign tax credits in excess of the foreign source income limitation in fiscal 2015. Deferred income taxes at June 30, 2016 and 2015 are attributable to the following (in thousands): 2016 2015 Deferred tax assets (current): Inventories $ 2,888 $ 2,597 Employee benefits (other than pension) 988 1,016 Book reserves 1,347 818 Other 308 687 Total current deferred tax assets 5,531 5,118 Valuation allowance (1,013 ) (564 ) Current deferred tax asset $ 4,518 $ 4,554 Deferred tax assets (long-term): State NOL, various carryforward periods $ 975 $ 801 Foreign NOL, various carryforward periods 1,738 1,908 Foreign tax credit carryforward, expiring 2017 – 2026 2,638 2,405 Pension benefits 19,573 13,224 Retiree medical benefits 2,790 2,499 Depreciation 286 - Intangibles 1,243 1,713 Other 274 190 Total long-term deferred tax assets 29,517 22,740 Valuation allowance (4,233 ) (3,937 ) Long-term deferred tax asset $ 25,284 $ 18,803 Deferred tax liabilities (long-term): Depreciation (187 ) (1,548 ) Long-term deferred tax liabilities (187 ) (1,548 ) Net deferred tax assets $ 29,615 $ 21,809 Foreign operations deferred tax assets relate primarily to inventory (current) and pension benefits (long term). Amounts related to foreign operations included in the long-term portion of deferred tax liabilities relate to depreciation. The Company is subject to U.S. federal income tax and various state, local and foreign income taxes in numerous jurisdictions. The Company’s domestic and international tax liabilities are subject to the allocation of revenues and expenses in different jurisdictions and the timing of recognizing revenues and expenses. Additionally, the amount of income taxes paid is subject to the Company’s interpretation of applicable tax laws in the jurisdictions in which it files. Reconciliations of the beginning and ending amount of unrecognized tax benefits are as follows (in thousands): Balance at June 30, 2013 $ (10,978 ) Increases for tax positions taken in prior years (204 ) Increases for tax positions taken during the current period (259 ) Effect of exchange rate changes (9 ) Decrease relating to settlement 241 Balance at June 30, 2014 (11,209 ) Increases for tax positions taken during the current period (405 ) Effect of exchange rate changes 440 Decrease relating to lapse of applicable statute of limitations 42 Balance at June 30, 2015 (11,132 ) Increases for tax positions taken during the current period (184 ) Effect of exchange rate changes 82 Decrease relating to lapse of applicable statute of limitations 414 Balance at June 30, 2016 $ (10,820 ) The long-term tax obligations as of June 30, 2016 and 2015 relate primarily to transfer pricing adjustments. The Company has also recorded a non-current tax receivable for $2.7 million and $3.4 million at June 30, 2016 and 2015, respectively, representing the corollary effect of transfer pricing competent authority adjustments. The Company has identified no new uncertain tax positions at June 30, 2016 for which it is currently likely that the total amount of unrecognized tax benefits will significantly increase or decrease within the next twelve months. The Company recognizes interest and penalties related to income tax matters in income tax expense and has booked an increase of $0.1 million in fiscal 2016 for interest expense. The Company’s U.S. federal tax returns for years prior to fiscal 2013 are no longer subject to U.S. federal examination by the Internal Revenue Service; however, tax losses carried forward from earlier years are still subject to review and adjustment. In fiscal 2014, the tax authorities in China audited the transfer pricing of Starrett’s subsidiary in that country for calendar years 2010 through 2012. Adjustments reduced the tax loss carryforward and required a tax and penalty payment for calendar 2011. As of June 30, 2016, the Company has resolved all open income tax audits. In international jurisdictions: Australia, Brazil, Canada, China, Germany, Japan, Mexico, New Zealand, Singapore and the United Kingdom, the years that may be examined vary by country. The Company’s most significant foreign subsidiary in Brazil is subject to audit for the calendar years 2011 through 2015. The state tax loss carryforwards tax effected benefit of $1.0 million expires at various times over the next 2 to 20 years. The foreign tax credit carryforward of $2.6 million expires in the years 2017 through 2026 and has a full valuation allowance against it. At June 30, 2016, the estimated amount of total unremitted earnings of foreign subsidiaries is $67.0 million. The Company received a cash dividend from a foreign subsidiary of $2.3 million in fiscal 2015 out of earnings for that year. The Company has no plans to repatriate prior year earnings of its foreign subsidiaries and, accordingly, no estimate of the unrecognized deferred taxes related to these earnings has been made. Cash held in foreign subsidiaries is not available for use in the U.S. without the likely incurrence of U.S. federal and state income tax consequences.

Note 12 - Employee Benefit and

Note 12 - Employee Benefit and Retirement Plans	12 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	12 . EMPLOYEE BENEFIT AND RETIREMENT PLANS The Company has two defined benefit pension plans, one for U.S. employees and another for U.K. employees. The UK plan was closed to new entrants in fiscal 2009. The Company has a postretirement medical and life insurance benefit plan for U.S. employees. The Company also has defined contribution plans. The Company amended its Postretirement Medical Plan effective December 31, 2013 whereby the Company terminated eligibility for employees ages 55-64. For retirees 65 and older, the Company’s contribution is fixed at $28.50 or $23.00 per month depending upon the plan the retiree has chosen. The total cost of all such plans for fiscal 2016, 2015 and 2014 was $22.2 million, $4.6 million and $5.0 million, respectively. Included in these amounts are the Company’s contributions to the defined contribution plans amounting to $0.8 million, $0.8 million and $1.2 million in fiscal 2016, 2015 and 2014, respectively. Under both U.S and U.K. defined benefit plans, benefits are based on years of service and final average earnings. Plan assets consist primarily of investment grade debt obligations, marketable equity securities and shares of the Company’s common stock. The asset allocation of the Company’s domestic pension plan is diversified, consisting primarily of investments in equity and debt securities. The Company seeks a long-term investment return that is reasonable given prevailing capital market expectations. Target allocations are 40% to 70% in equities (including 10% to 20% in Company stock), and 30% to 60% in cash and debt securities. In fiscal 2017 the Company will use an expected long-term rate of return assumption of 5.0% for the U.S. domestic pension plan, and 3.6% for the U.K. plan. In determining these assumptions, the Company considers the historical returns and expectations for future returns for each asset class as well as the target asset allocation of the pension portfolio as a whole. In fiscal 2016 and 2015, the Company used a discount rate assumption of 3.77% and 4.49% for the U.S. plan and 3.00% and 3.90% for the U.K. plan, respectively. In determining these assumptions, the Company considers published third party data appropriate for the plans. Other than the discount rate, pension valuation assumptions are generally long-term and not subject to short-term market fluctuations, although they may be adjusted as warranted by structural shifts in economic or demographic outlooks. Long-term assumptions are reviewed annually to ensure they do not produce results inconsistent with current market conditions. The discount rate is adjusted annually based on corporate investment grade (rated AA or better) bond yields, the maturities of which are correlated with the expected timing of future benefit payments, as of the measurement date. Based upon the actuarial valuations performed on the Company’s defined benefit plans as of June 30, 2016, the U.S. plan will require a $4.1 million contribution in fiscal 2017 and the U.K. plan will require a $1.0 million contribution in fiscal 2017. The table below sets forth the actual asset allocation for the assets within the Company’s plans. 2016 2015 Asset category: Cash equivalents 0 % 1 % Fixed income 18 % 17 % Equities 27 % 25 % Mutual and pooled funds 55 % 57 % 100 % 100 % The Company determines its investments strategies based upon the composition of the beneficiaries in its defined benefit plans and the relative time horizons that those beneficiaries are projected to receive payouts from the plans. The Company engages an independent investment firm to manage the U.S. pension assets. Cash equivalents are held in money market funds. The Company’s fixed income portfolio includes mutual funds that hold a combination of short-term, investment-grade fixed income securities and a diversified selection of investment-grade, fixed income securities, including corporate securities and U.S. government securities. The Company invests in equity securities, which are diversified across a spectrum of value and growth in large, medium and small capitalization as appropriate to achieve the objective of a balanced portfolio and optimize the expected returns and volatility in the various asset classes. Other assets include pooled investment funds whose underlying assets consist primarily of property holdings as well as financial instruments designed to offset the long-term impact of inflation and interest rate fluctuations. In accordance with “ASC 820 Fair Value Measurement”, the Company has categorized its financial assets (including its pension plan assets), based on the priority of the inputs to the valuation technique, into a three-level fair value hierarchy as set forth below. If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. Financial assets are categorized based on the inputs to the valuation techniques as follows: o Level 1 – Financial assets whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market which the Company has the ability to access at the measurement date. o Level 2 – Financial assets whose value are based on quoted market prices in markets where trading occurs infrequently or whose values are based on quoted prices of instruments with similar attributes in active markets. o Level 3 – Financial assets whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s own view about the assumptions a market participant would use in pricing the asset. The tables below show the portfolio by valuation category as of June 30, 2016 and June 30, 2015 (in thousands). June 30, 2016 Asset Category Level 1 Level 2 Level 3 Total % Cash Equivalent $ 672 $ - $ - $ 672 0 % Fixed Income - 20,342 - 20,342 18 % Equities 28,639 2,435 - 31,074 27 % Mutual & Pooled Funds 30,057 30,060 2,810 62,927 55 % Total $ 59,368 $ 52,837 $ 2,810 $ 115,015 100 % June 30, 2015 Asset Category Level 1 Level 2 Level 3 Total % Cash Equivalent $ 1,064 $ - $ - $ 1,064 1 % Fixed Income - 21,058 - 21,058 17 % Equities 27,960 3,210 - 31,170 25 % Mutual & Pooled Funds 31,873 33,538 4,084 69,495 57 % Total $ 60,897 $ 57,806 $ 4,084 $ 122,787 100 % Included in equity securities at June 30, 2016 and 2015 are shares of the Company’s common stock having a fair value of $9.7 million and $12.5 million, respectively. A reconciliation of the beginning and ending balances of Level 3 assets is as follows (in thousands): Fair Value Measurement Using S ignificant Unobservable Inputs (Level 3) 2016 2015 Beginning balance $ 4,084 $ 3,895 Actual returns on assets (718 ) 507 Translation loss (556 ) (318 ) Ending balance $ 2,810 $ 4,084 The Level 3 assets consist of units of a pooled investment fund which invests in a mix of properties selected from across retail, office, industrial and other sectors predominantly located in the U.K. In addition to direct investments, the fund may also invest indirectly in property through investment vehicles such as quoted and unquoted property companies or collective investment trusts. Redemptions from the fund are not readily available given the illiquid nature of its assets. U.S. and U.K. Plans Combined: The status of these defined benefit plans is as follows (in thousands): 2016 2015 2014 Change in benefit obligation Benefit obligation at beginning of year $ 166,189 $ 161,062 $ 141,316 Service cost 2,757 2,663 2,709 Interest cost 7,032 6,818 6,922 Participant contributions - - 183 Exchange rate changes (7,825 ) (4,167 ) 5,359 Benefits paid (6,590 ) (6,524 ) (5,956 ) Actuarial (gain) loss 13,670 6,337 10,529 Benefit obligation at end of year $ 175,233 $ 166,189 $ 161,062 Change in plan assets Fair value of plan assets at beginning of year 122,787 122,924 109,326 Actual return on plan assets 226 3,466 14,105 Employer contributions 4,482 6,049 1,171 Participant contributions - - 183 Benefits paid (6,590 ) (6,524 ) (5,956 ) Exchange rate changes (5,890 ) (3,128 ) 4,095 Fair value of plan assets at end of year 115,015 122,787 122,924 Funded status at end of year $ (60,218 ) $ (43,402 ) $ (38,138 ) Amounts recognized in balance sheet Current liability $ (45 ) $ (37 ) $ (37 ) Noncurrent liability (60,173 ) (43,365 ) (38,101 ) Net amount recognized in balance sheet $ (60,218 ) $ (43,402 ) $ (38,138 ) Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss Prior service cost $ - $ - $ - Accumulated loss (17,849 ) (16,795 ) (8,686 ) Amounts not yet recognized as a component of net periodic benefit cost (17,849 ) (16,795 ) (8,686 ) Accumulated net periodic benefit cost in excess of contributions (42,369 ) (26,607 ) (29,452 ) Net amount recognized $ (60,218 ) $ (43,402 ) $ (38,138 ) Components of net periodic benefit cost Service cost $ 2,757 $ 2,663 $ 2,709 Interest cost 7,032 6,818 6,922 Expected return on plan assets (6,268 ) (6,966 ) (6,332 ) Amortization of prior service cost - - 116 Recognized actuarial loss 17,878 1,309 398 Net periodic benefit cost $ 21,399 $ 3,824 $ 3,813 Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year Prior service cost $ - $ - $ (30 ) Net loss (114 ) (53 ) - Information for pension plans with accumulated benefits in excess of plan assets Projected benefit obligation $ 175,233 $ 166,189 $ 161,062 Accumulated benefit obligation 168,119 159,174 154,163 Fair value of assets 115,015 122,787 122,924 U.S. Plan: The status of the U.S. defined benefit plan is as follows (in thousands): 2016 2015 2014 Change in benefit obligation Benefit obligation at beginning of year $ 116,398 $ 110,054 $ 99,788 Service cost 2,757 2,663 2,326 Interest cost 5,248 4,839 4,868 Benefits paid (4,593 ) (4,372 ) (4,263 ) Actuarial loss 11,053 3,214 7,335 Benefit obligation at end of year $ 130,863 $ 116,398 $ 110,054 Weighted average assumptions – benefit obligation Discount rate 3.77 % 4.49 % 4.29 % Rate of compensation increase Varies Varies Varies Change in plan assets Fair value of plan assets at beginning of year $ 84,853 $ 84,629 $ 77,208 Actual return on plan assets (1,730 ) (274 ) 11,661 Employer contributions 3,380 4,870 23 Benefits paid (4,593 ) (4,372 ) (4,263 ) Fair value of plan assets at end of year 81,910 84,853 84,629 Funded status at end of year $ (48,953 ) $ (31,545 ) $ (25,425 ) Amounts recognized in balance sheet Current liability $ (45 ) $ (37 ) $ (37 ) Noncurrent liability (48,908 ) (31,508 ) (25,388 ) Net amount recognized in balance sheet $ (48,953 ) $ (31,545 ) $ (25,425 ) Weighted average assumptions – net periodic benefit cost Discount rate 4.49 % 4.29 % 4.96 % Rate of compensation increase Varies Varies Varies Return on plan assets 5.50 % 6.00 % 6.00 % Amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive loss Prior service cost $ - $ - $ - Accumulated loss (13,412 ) (11,817 ) (3,585 ) Amounts not yet recognized as a component of net periodic benefit cost (13,412 ) (11,817 ) (3,585 ) Accumulated contributions less than net periodic benefit cost (35,541 ) (19,728 ) (21,840 ) Net amount recognized $ (48,953 ) $ (31,545 ) $ (25,425 ) Components of net periodic benefit cost Service cost $ 2,757 $ 2,663 $ 2,326 Interest cost 5,248 4,839 4,868 Expected return on plan assets (4,589 ) (5,063 ) (4,484 ) Amortization of prior service cost - - 116 Recognized actuarial loss 15,779 319 12 Net periodic benefit cost $ 19,195 $ 2,758 $ 2,838 Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year Prior service cost $ - $ - $ (30 ) Net loss (114 ) (53 ) - Information for plan with accumulated benefits in excess of plan assets Projected benefit obligation $ 130,863 $ 116,398 $ 110,054 Accumulated benefit obligation 123,749 109,383 103,155 Fair value of assets 81,910 84,853 84,629 U.K. Plan: The status of the U.K. defined benefit plan is as follows (in thousands): 2016 2015 2014 Change in benefit obligation Benefit obligation at beginning of year $ 49,791 $ 51,008 $ 41,528 Service cost 0 0 383 Interest cost 1,784 1,979 2,054 Participant contributions - - 183 Exchange rate changes (7,825 ) (4,167 ) 5,359 Benefits paid (1,997 ) (2,152 ) (1,693 ) Actuarial loss 2,617 3,123 3,194 Benefit obligation at end of year $ 44,370 $ 49,791 $ 51,008 Weighted average assumptions - benefit obligation Discount rate 3.00 % 3.90 % 4.30 % Rate of compensation increase n/a n/a n/a % Change in plan assets Fair value of plan assets at beginning of year $ 37,934 $ 38,295 $ 32,118 Actual return on plan assets 1,956 3,740 2,444 Employer contributions 1,102 1,179 1,148 Participant contributions - - 183 Benefits paid (1,997 ) (2,152 ) (1,693 ) Exchange rate changes (5,890 ) (3,128 ) 4,095 Fair value of plan assets at end of year 33,105 37,934 38,295 Funded status at end of year $ (11,265 ) $ (11,857 ) (12,713 ) Amounts recognized in balance sheet Current liability $ — $ — $ — Noncurrent liability (11,265 ) (11,857 ) (12,713 ) Net amount recognized in balance sheet $ (11,265 ) $ (11,857 ) $ (12,713 ) Weighted average assumptions – net periodic benefit cost Discount rate 3.90 % 4.30 % 4.70 % Rate of compensation increase n/a n/a 3.10 % Return on plan assets 4.77 % 5.45 % 5.40 % Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss Prior service cost $ — $ — $ — Accumulated loss (4,437 ) (4,978 ) (5,101 ) Amounts not yet recognized as a component of net periodic benefit cost (4,437 ) (4,978 ) (5,101 ) Accumulated net periodic benefit cost in excess of contributions (6,828 ) (6,879 ) (7,612 ) Net amount recognized $ (11,265 ) $ (11,857 ) $ (12,713 ) Components of net periodic benefit cost Service cost $ — $ — $ 383 Interest cost 1,784 1,979 2,054 Expected return on plan assets (1,679 ) (1,903 ) (1,848 ) Amortization of net loss 2,099 990 386 Net periodic benefit cost $ 2,204 $ 1,066 $ 975 Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year $ — $ — $ — Information for plan with accumulated benefits in excess of plan assets Projected benefit obligation $ 44,370 $ 49,791 $ 51,008 Accumulated benefit obligation 44,370 49,791 51,008 Fair value of assets 33,104 37,934 38,295 Postretirement Medical and Life Insurance Benefits: The status of the U.S. postretirement medical and life insurance benefit plan is as follows (in thousands): 2016 2015 2014 Change in benefit obligation: Benefit obligation at beginning of year $ 6,611 $ 5,867 $ 10,964 Service cost 105 113 225 Interest cost 287 244 396 Plan amendments — — (5,730 ) Benefits paid (772 ) (647 ) (429 ) Actuarial (gain) loss 1,150 1,034 441 Benefit obligation at end of year $ 7,381 $ 6,611 $ 5,867 Weighted average assumptions: benefit obligations Discount rate 3.77 % 4.49 % 4.29 % Rate of compensation increase 2.64 % 2.64 % 2.64 % Change in plan assets Fair value of plan assets at beginning of year $ — $ — $ — Employer contributions 772 647 429 Benefits paid, net of employee contributions (772 ) (647 ) (429 ) Fair value of plan assets at end of year — — — Amounts recognized in balance sheet Current postretirement benefit obligation $ (396 ) $ (441 ) $ (379 ) Non-current postretirement benefit obligation (6,985 ) (6,170 ) (5,488 ) Net amount recognized in balance sheet $ (7,381 ) $ (6,611 ) $ (5,867 ) Weighted average assumptions – net periodic benefit cost Discount rate 4.49 % 4.29 % 4.96 % Rate of compensation increase 2.64 % 2.64 % 2.64 % Amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive loss Prior service credit $ 4,523 $ 5,305 $ 6,104 Accumulated gain (loss) (1,983 ) (850 ) 185 Amounts not yet recognized as a component of net periodic benefit cost 2,540 4,455 6,289 Net periodic benefit cost in excess of accumulated contributions (9,921 ) (11,066 ) (12,156 ) Net amount recognized $ (7,381 ) $ (6,611 ) $ (5,867 ) Components of net periodic benefit cost Service cost $ 105 $ 113 $ 225 Interest cost 287 244 396 Amortization of prior service credit (781 ) (799 ) (771 ) Amortization of accumulated loss 15 — (1 ) Net periodic benefit cost $ (374 ) $ (442 ) $ (151 Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year Prior service credit $ 673 $ 781 $ 799 Net loss (120 ) (15 ) — $ 553 $ 766 $ 799 Healthcare cost trend rate assumed for next year 6.90 % 8.00 % 8.30 % Rate to which the cost trend rate gradually declines 4.50 % 4.50 % 4.50 % Year that the rate reaches the rate at which it is assumed to remain 2027 2027 2026 Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. A one percentage point change in assumed health care cost trend rates would have the following effects (in thousands): 1% Increase 2016 2015 2014 Effect on total of service and interest cost $ - $ - $ 35 Effect on postretirement benefit obligation 2 4 7 1% Decrease 2016 2015 2014 Effect on total of service and interest cost $ - $ - $ (30 ) Effect on postretirement benefit obligation (2 ) (4 ) (7 ) For fiscal 2017, the Company expects to make a $4.0 million contribution to the qualified domestic pension plan, $45,000 to the nonqualified domestic pension plan, $1.0 million to the U.K. pension plan, and $396,000 to the postretirement medical and life insurance plan. Future pension and other benefit payments are as follows (in thousands): Fiscal Year Pension Other Benefits 2017 $ 6,700 $ 396 2018 6,997 363 2019 7,326 358 2020 7,656 364 2021 7,966 370 2022-2026 45,924 1,926

Note 13 - Debt

Note 13 - Debt	12 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Debt Disclosure [Text Block]	13. DEBT Debt, including capitalized lease obligations, is comprised of the following (in thousands): June 30, 2016 June 30, 2015 Short-term and current maturities Loan and Security Agreement $ 1,543 $ 1,474 Capitalized leases - 78 $ 1,543 $ 1,552 Long-term debt Loan and Security Agreement, net of current portion $ 17,109 $ 18,552 17,109 18,552 Total debt $ 18,652 $ 20,104 Future maturities of debt are as follows (in thousands): Fiscal Year 2017 $ 1,543 2018 11,014 2019 1,688 2020 1,765 2021 1,846 Thereafter 796 Total $ 18,652 The Company completed the negotiations for an amended Loan and Security Agreement and executed the new agreement as of April 25, 2015. Borrowings under this agreement may not exceed $23.0 million. The agreement expires on April 30, 2018 and has an interest rate of LIBOR plus 1.5%. The effective interest rate under the agreement for fiscal 2016 was 2.20%. The material financial covenants of the amended Loan and Security Agreement are: 1) funded debt to EBITDA, excluding non-cash and retirement benefit expenses (“maximum leverage”), cannot exceed 2.25 to 1; 2) annual capital expenditures cannot exceed $15.0 million; 3) maintain a Debt Service Coverage Rate of a minimum of 1.25 to 1 and 4) maintain consolidated cash plus liquid investments of not less than $10.0 million at any time. As of June 30, 2016, the Company was in compliance with all the covenants. The Company expects to be able to meet the covenants in future periods. On November 22, 2011, in conjunction with the Bytewise acquisition, the Company entered into a new $15.5 million term loan (the “Term Loan”) under the then existing Loan and Security Agreement. The term loan is a ten year loan bearing a fixed interest rate of 4.5% and is payable in fixed monthly payments of principal and interest of $160,640. The $15.5 million term loan is subject to the same financial covenants as the Loan and Security Agreement. As of June 30, 2016, $9.3 million of the term loan was outstanding. Availability under the Line of Credit is subject to a borrowing base comprised of accounts receivable and inventory. The Company believes that the borrowing base will consistently produce availability under the Line of Credit in excess of $23.0 million. As of June 30, 2016, the Company had borrowings of $9.4 million under this facility. A 0.25% commitment fee is charged on the unused portion of the Line of Credit. The Company has one standby letter of credit totaling $0.9 million which reduces the $23.0 million available Line of Credit to $22.1 million. As of June 30, 2016, the Company has approximately $12.7 million available in the Line of Credit. The obligations under the Credit Facility are unsecured. In the event of certain triggering events, such obligations would become secured by the assets of the Company’s domestic subsidiaries. A triggering event occurs when the Company fails to achieve any of the financial covenants noted above in consecutive quarters.

Note 14 - Common Stock

Note 14 - Common Stock	12 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	14. COMMON STOCK Class B common stock is identical to Class A except that it has 10 votes per share, is generally nontransferable except to lineal descendants of stockholders, cannot receive more dividends than Class A, and can be converted to Class A at any time. Class A common stock is entitled to elect 25% of the directors to be elected at each meeting with the remaining 75% being elected by Class A and Class B voting together.

Note 15 - Contingencies

Note 15 - Contingencies	12 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	15. CONTINGENCIES The Company is involved in certain legal matters which arise in the normal course of business, which are not expected to have a material impact on the Company’s financial condition, results of operations and cash flows.

Note 16 - Concentration of Cred

Note 16 - Concentration of Credit Risk	12 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	16. CONCENTRATIONS OF CREDIT RISK The Company believes it has no significant concentration of credit risk as of June 30, 2016. Trade receivables are dispersed among a large number of retailers, distributors and industrial accounts in many countries, with none exceeding 10% of consolidated sales.

Note 17 - Financial Information

Note 17 - Financial Information by Segment and Geographic Area	12 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	17. FINANCIAL INFORMATION BY SEGMENT & GEOGRAPHIC AREA The Company offers its broad array of measuring and cutting products to the market through multiple channels of distribution throughout the world. The Company’s products include precision tools, electronic gages, gage blocks, optical vision and laser measuring equipment, custom engineered granite solutions, tape measures, levels, chalk products, squares, band saw blades, hole saws, hacksaw blades, jig saw blades, reciprocating saw blades, M1 ® lubricant and precision ground flat stock. The Company reviews and manages its business geographically and has historically made decisions based on worldwide operations. In fiscal 2016, the Company changed its reportable business segment from one reportable segment to two reportable segments, specifically, North American Operations and International Operations. The Company has recast its segment information disclosure for all periods presented to conform to this segment presentation. The North American segment’s operations include all manufacturing and sales in the United States, Canada and Mexico. The International segment’s operations include all locations outside North America, primarily in Brazil, United Kingdom and China. The chief operating decision maker reviews operations on a geographical basis and decisions about where to invest the Company’s resources are made based on the current results and forecasts of operations in those geographies. Since the markets for the Company’s products are sufficiently different in North America than they are in the rest of the world and in view of the significant impact that currency fluctuation plays outside the United States on the revenue of the Company, the Company’s business review separates North America from operations outside North America. For this reason, the Company is reflecting two operating segments that align with management’s review of operations and decisions to allocate resources. Segment income is measured for internal reporting purposes by excluding corporate expenses, other income and expense including interest income and interest expense and income taxes. Corporate expenses consist primarily of executive compensation, certain professional fees, and costs associated with the Company’s global headquarters. Financial results for each reportable segment are as follows (in thousands): Year Ended June 30, 2016 North America International Unallocated Total 1 Sales $ 130,108 $ 79,577 $ $ 209,685 Operating income (8,311 ) (3,117 ) (9,017 ) (20,445 ) Asset impairment (4,114 ) - (4,114 ) Capital expenditures 5,040 3,200 8,240 Depreciation and amortization 4,537 2,677 7,214 Current assets 4 33,787 62,810 24,314 120,911 Long-lived assets 5 36,539 13,995 30,153 80,687 Year Ended June 30, 2015 North America International Unallocated Total 2 Sales $ 137,085 $ 104,465 $ $ 241,550 Operating income 13,353 1,333 (6,083 ) 8,603 Capital expenditures 3,449 2,251 5,700 Depreciation and amortization 5,604 3,113 8,717 Current assets 4 41,240 68,656 23,517 133,413 Long-lived assets 5 40,506 14,066 24,287 78,859 Year Ended June 30, 2014 North America International Unallocated Total 3 Sales $ 129,287 $ 117,847 $ $ 247,134 Operating income 11,231 7,831 (7,147 ) 11,915 Capital expenditures 3,116 5,720 8,836 Depreciation and amortization 5,948 3,410 9,358 Current assets 4 40,716 75,193 30,993 146,902 Long-lived assets 5 43,127 19,203 22,211 84,541 1 2 3 4 Geographic information about the Company’s sales and long-lived assets are as follows (in thousands): Sales Year Ended June 30, North America 2016 2015 2014 United States $ 119,638 $ 125,534 $ 117,249 Canada & Mexico 10,470 11,551 12,038 130,108 137,085 129,287 International Brazil 43,283 63,961 74,478 United Kingdom 24,485 26,691 28,322 China 7,207 8,357 9,322 Australia & New Zealand 4,602 5,456 5,725 79,577 104,465 117,847 Total Sales $ 209,685 $ 241,550 $ 247,134 Long-lived Assets Year Ended June 30, North America 2016 2015 2014 United States $ 36,189 $ 40,146 $ 42,740 Canada & Mexico 350 360 387 36,539 40,506 43,127 International Brazil 8,818 7,986 12,334 United Kingdom 2,143 2,647 3,093 China 2,887 3,291 3,558 Australia & New Zealand 147 142 218 13,995 14,066 19,203 Total Long Lived Assets $ 50,534 $ 54,572 $ 62,330 5

Note 18 - Quarterly Financial D

Note 18 - Quarterly Financial Data (Unaudited)	12 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Quarterly Financial Information [Text Block]	18. QUARTERLY FINANCIAL DATA (unaudited) (in thousands except per share data) Quarter Ended Net Sales Gross Margin Earnings Before Income Taxes Net Earnings / (Loss) Basic and Diluted Earnings / (Loss) Per Share September 2014 $ 60,172 $ 19,143 $ 1,741 $ 923 $ 0.13 December 2014 63,821 22,164 4,323 2,447 0.35 March 2015 56,116 18,694 3,508 2,437 0.35 June 2015 61,441 16,694 370 (563 ) (0.08 ) $ 241,550 $ 76,695 $ 9,942 $ 5,244 $ 0.75 September 2015 $ 51,038 $ 15,852 $ 482 $ (178 ) $ (0.03 ) December 2015 53,671 15,999 992 458 0.07 March 2016 50,329 14,733 1,199 597 0.09 June 2016 54,647 404 (23,048 ) (15,007 ) (2.14 ) $ 209,685 $ 46,988 $ (20,375 ) $ (14,130 ) $ (2.01 ) Fourth quarter sales in fiscal 2016 were $6.8 million lower than in the fourth quarter of fiscal 2015. Unfavorable exchange rates represented $2.6 million of the difference. In addition, precision hand tool and saw sales declined $4.4 million in the fourth quarter of fiscal 2016 compared to fiscal 2015. Gross margins declined $16.3 million with a non-cash pension charge of $14.2 million representing approximately 90% of the decline. Lower sales of precision hand tool and saw sales accounted for the majority of the additional $2.1 million decline.

Note 19 - Related Party Transac

Note 19 - Related Party Transactions	12 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	19. RELATED PARTY TRANSACTIONS In the fourth quarter of fiscal 2016, Mr. Guilherme Camargo was appointed Operations Manager of Armco do Brasil S.A. (Armco.) Armco is the largest supplier of steel to our subsidiary in Brazil. Mr. Camargo is the son of Salvador de Camargo, who is the president of our subsidiary in Brazil and a member of the board of directors. The Company plans to implement policies and procedures to ensure transactions between Starrett Brazil and Armco remain at “arms-length” in the future as they have been in the past. The Company made annual purchases from Armco of $3.2 million, $4.1 million and $3.7 million in fiscal 2016, 2015 and 2014 respectively. The Company had accounts payable of $0 and $0.1 million as of June 30, 2016 and June 30, 2015 respectively.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]	SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS Schedule II Valuation and Qualifying Accounts Allowance for Doubtful Accounts (in 000) Balance at Beginning of Period Provisions Charges to Other Accounts Write-offs Balance at End of Period Allowance for Doubtful Accounts: Year Ended June 30, 2016 $ 612 $ 352 $ (2 ) $ (75 ) $ 887 Year Ended June 30, 2015 704 179 (163 ) (108 ) 612 Year Ended June 30, 2014 697 27 27 (47 ) 704 Valuation Allowance on Deferred Tax Asset (in 000) Balance at Beginning of Period Provisions Charges to Other Accounts Write-offs Balance at End of Period Year Ended June 30, 2016 $ 4,501 $ 1,193 $ (344 ) $ (104 ) $ 5,246 Year Ended June 30, 2015 3,334 1,242 (24 ) (51 ) 4,501 Year Ended June 30, 2014 4,539 302 (355 ) (1,152 ) 3,334 All other financial statement schedules are omitted because they are inapplicable, not required under the instructions, or the information is reflected in the financial statements or notes thereto.

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of consolidation
Financial Instruments and Derivatives [Policy Text Block]	Financial instruments and derivatives
Receivables, Policy [Policy Text Block]	Accounts receivable
Inventory, Policy [Policy Text Block]	Inventories
Property, Plant and Equipment, Policy [Policy Text Block]	Property Plant and Equipment
Goodwill and Intangible Assets, Policy [Policy Text Block]	Intangible assets Goodwill Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. Goodwill is not subject to amortization but is tested for impairment annually and at any time when events suggest impairment may have occurred. The Company annually tests the goodwill associated with the November 2011 acquisition of Bytewise in October. As of October 1, 2015, the Company performed an analysis of qualitative factors to determine whether it is more likely than not that the fair value of the Bytewise business is less than its carrying amount as a basis for determining whether it is necessary to perform a two-step goodwill impairment test. Based on the Company's analysis of qualitative factors, the Company determined that it was not necessary to perform a two-step goodwill impairment test.
Revenue Recognition, Policy [Policy Text Block]	Revenue recognition
Advertising Costs, Policy [Policy Text Block]	Advertising costs
Shipping and Handling Cost, Policy [Policy Text Block]	Freight costs
Standard Product Warranty, Policy [Policy Text Block]	Warranty expense
Pension and Other Postretirement Plans, Policy [Policy Text Block]	Pension and Other Postretirement Benefits: The Company sponsors funded U.S. and non-U.S. defined benefit pension plans covering the majority of our U.S. and U.K. employees. The Company also sponsors an unfunded postretirement benefit plan that provides health care benefits and life insurance coverage to eligible U.S. retirees. Under the Company’s current accounting method, both pension plans use fair value as the market-related value of plan assets and continue to recognize actuarial gains or losses within the corridor in other comprehensive income (loss) but instead of amortizing net actuarial gains or losses in excess of the corridor in future periods, such excess gains and losses, if any, are recognized in net periodic benefit cost as of the plan measurement date, which is the same as the fiscal year end of the Company (MTM adjustment). This method is a permitted option which results in immediate recognition of excess net actuarial gains and losses in net periodic benefit cost instead of in other comprehensive income (loss). Such immediate recognition in net periodic benefit cost increases the volatility of net periodic benefit cost. The MTM adjustments to net periodic benefit cost for 2016, 2015 and 2014 were $17.8 million, $1.3 million, and $0.4 million, respectively.
Income Tax, Policy [Policy Text Block]	Income taxes
Research and Development Expense, Policy [Policy Text Block]	Research and development
Earnings Per Share, Policy [Policy Text Block]	Earnings per share (EPS)
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Translation of foreign currencies
Use of Estimates, Policy [Policy Text Block]	Use of accounting estimates
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In May 2014, the FASB issued a new standard related to the “Revenue from Contracts with Customers” which amends the existing accounting standards for revenue recognition. The standard requires entities to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration the entity expects to be entitled to in exchange for those goods or services. This standard is applicable for fiscal years beginning after December 15, 2017 and for interim periods within those years. Earlier application will be permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company expects to adopt this standard on July 1, 2017. The Company is currently evaluating the impact of the adoption of this standard on its consolidated financial statements. In November 2015, the FASB issued Accounting Standards Update No. 2015-17 ("ASU 2015-17") regarding ASC Topic 470 "Income Taxes: Balance Sheet Classification of Deferred Taxes." The amendments in ASU 2015-17 eliminate the requirement to bifurcate Deferred Taxes between current and non-current on the balance sheet and requires that all deferred tax liabilities and assets be classified as noncurrent on the balance sheet. T he amendments for ASU-2015-17 can be applied retrospectively or prospectively and early adoption is permitted. The Company plans to adopt the new guidance prospectively in the first quarter of fiscal 2017. Implementation will have no effect on the Consolidated Statement of Operations but is expected to result in a change in classification for $4.5 million of tax assets from short-term to long-term. In July 2015, the FASB issued ASU No. 2015-11, "Inventory (Topic 330): Simplifying the Measurement of Inventory." Previous to the issuance of this ASU, ASC 330 required that an entity measure inventory at the lower of cost or market. ASU 2015-11 specifies that “market” is defined as “net realizable value,” or the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. This ASU is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2016. Application is to be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. The adoption of ASU No. 2015-11 will not have a material impact on our consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)”. The ASU requires that organizations that lease assets recognize assets and liabilities on the balance sheet for the rights and obligations created by those leases. The ASU will affect the presentation of lease related expenses on the income statement and statement of cash flows and will increase the required disclosures related to leases. This ASU is effective for annual periods ending after December 15, 2018, and interim periods thereafter, with early adoption permitted. The Company is currently evaluating the impact of ASU No. 2016-02 on its consolidated financial statements. It is expected that a key change upon adoption will be the balance sheet recognition of leased assets and liabilities and that any changes in income statement recognition will not be material. In March 2016, the FASB issued ASU No. 2016-09, "Compensation - Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting." The ASU affects the accounting for employee share-based payment transactions as it relates to accounting for income taxes, accounting for forfeitures, and statutory tax withholding requirements. This ASU is effective for annual periods ending after December 15, 2016, and interim periods within those periods with early adoption permitted. The Company is currently evaluating the impact of ASU No. 2016-09 on its consolidated financial statements.

Note 4 - Stock-based Compensa31

Note 4 - Stock-based Compensation (Tables)	12 Months Ended
	Jun. 30, 2016
Notes Tables
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Shares On Option Weighted Average Exercise Price Shares Available For Grant Balance, June 30, 2013 88,728 448,544 Options granted 43,643 10.91 (43,643 ) Options exercised (26,225 ) 9.83 - Options canceled (30,758 ) 19,711 Balance, June 30, 2014 75,388 424,612 Options granted 35,208 13.97 (35,208 ) Options exercised (30,718 ) 8.82 - Options canceled (25,571 ) 25,571 Balance, June 30, 2015 54,307 414,975 Options granted 52,836 9.37 (52,836 ) Options exercised (15,523 ) 9.57 - Options canceled (27,705 ) 27,705 Balance, June 30, 2016 63,915 389,844
Share-based Compensation, Performance Shares Award Outstanding Activity [Table Text Block]	Weighted average remaining life (years) 1.3 Weighted average fair value on grant date of options granted in: 2014 $ 3.37 2015 4.68 2016 3.34

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	12 Months Ended
	Jun. 30, 2016
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 30, 2016 June 30, 2015 Raw materials and supplies $ 29,209 $ 32,784 Goods in process and finished parts 16,459 18,569 Finished goods 39,449 39,689 85,117 91,042 LIFO reserve (28,796 ) (28,039 ) $ 56,321 $ 63,003

Note 7 - Goodwill and Intangi33

Note 7 - Goodwill and Intangibles (Tables)	12 Months Ended
	Jun. 30, 2016
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	June 30, 2016 June 30, 2015 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Goodwill $ 3,034 $ - $ 3,034 $ 3,034 $ - $ 3,034 Identifiable intangible assets 12,115 (5,625 ) 6,490 11,368 (4,243 ) 7,125
Schedule of Finite-Lived Intangible Assets [Table Text Block]	June 30, 2016 June 30, 2015 Non-compete agreements $ 600 $ 600 Trademarks and trade names 1,480 1,480 Completed technology 2,358 2,358 Customer relationships 4,950 4,950 Software development 2,402 1,655 Other intangible assets 325 325 Total 12,115 11,368 Accumulated amortization (5,625 ) (4,243 ) Total net balance $ 6,490 $ 7,125
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Fiscal Year 2017 $ 1,581 2018 1,513 2019 1,434 2020 911 2021 508 Thereafter 543

Note 8 - Property, Plant and 34

Note 8 - Property, Plant and Equipment (Tables)	12 Months Ended
	Jun. 30, 2016
Notes Tables
Property, Plant and Equipment [Table Text Block]	As of June 30, 2016 Cost Accumulated Depreciation Net Land $ 1,314 $ - $ 1,314 Buildings and building improvements 45,486 (29,595 ) 15,891 Machinery and equipment 126,882 (103,077 ) 23,805 Total $ 173,682 $ (132,672 ) $ 41,010 As of June 30, 2015 Cost Accumulated Depreciation Net Land $ 1,320 $ - $ 1,320 Buildings and building improvements 45,434 (25,210 ) 20,224 Machinery and equipment 132,788 (109,919 ) 22,869 Total $ 179,542 $ (135,129 ) $ 44,413
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Fiscal Year 2017 $ 2,204 2018 2,040 2019 1,876 2020 1,614 2021 1,685 Thereafter 2,191 11,610

Note 10 - Other Income and Ex35

Note 10 - Other Income and Expense (Tables)	12 Months Ended
	Jun. 30, 2016
Notes Tables
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	2016 2015 2014 Interest income $ 504 828 $ 951 Interest expense (669 ) (713 ) (800 ) Foreign currency gain (loss), net (59 ) 705 (840 ) Income from equity investment 118 203 257 Brazil recovery of export taxes - 232 - Sale of scrap material 95 93 126 Gain on resolution of contingency - - 89 Other income (expense), net 81 (9 ) 359 $ 70 1,339 $ 142

Note 11 - Income Taxes (Tables)

Note 11 - Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2016
Notes Tables
Schedule of Components of Income Before Income Taxes [Table Text Block]	2016 2015 2014 Domestic operations $ (17,541 ) $ 8,118 $ 5,793 Foreign operations (2,834 ) 1,824 6,264 $ (20,375 ) $ 9,942 $ 12,057
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	2016 2015 2014 Current: Federal $ (317 ) $ 1,744 $ 155 Foreign 866 1,855 3,284 State 94 114 86 Deferred: Federal (6,092 ) 670 2,175 Foreign 47 (71 ) (426 ) State (843 ) 386 71 $ (6,245 ) $ 4,698 $ 5,345
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2016 2015 2014 Expected tax expense $ (6,928 ) $ 3,380 $ 4,099 State taxes, net of federal effect (740 ) 378 269 Foreign taxes, net of federal credits 278 235 123 Change in valuation allowance 196 (51 ) (428 ) Tax reserve adjustments 250 361 465 Return to provision and other adjustments (167 ) (332 ) (265 ) Losses not benefited 885 701 350 Tax rate change applied to deferred tax balances - - 278 Other permanent items (19 ) 26 454 Actual tax expense (benefit) $ (6,245 ) $ 4,698 $ 5,345
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	2016 2015 Deferred tax assets (current): Inventories $ 2,888 $ 2,597 Employee benefits (other than pension) 988 1,016 Book reserves 1,347 818 Other 308 687 Total current deferred tax assets 5,531 5,118 Valuation allowance (1,013 ) (564 ) Current deferred tax asset $ 4,518 $ 4,554 Deferred tax assets (long-term): State NOL, various carryforward periods $ 975 $ 801 Foreign NOL, various carryforward periods 1,738 1,908 Foreign tax credit carryforward, expiring 2017 – 2026 2,638 2,405 Pension benefits 19,573 13,224 Retiree medical benefits 2,790 2,499 Depreciation 286 - Intangibles 1,243 1,713 Other 274 190 Total long-term deferred tax assets 29,517 22,740 Valuation allowance (4,233 ) (3,937 ) Long-term deferred tax asset $ 25,284 $ 18,803 Deferred tax liabilities (long-term): Depreciation (187 ) (1,548 ) Long-term deferred tax liabilities (187 ) (1,548 ) Net deferred tax assets $ 29,615 $ 21,809
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	Balance at June 30, 2013 $ (10,978 ) Increases for tax positions taken in prior years (204 ) Increases for tax positions taken during the current period (259 ) Effect of exchange rate changes (9 ) Decrease relating to settlement 241 Balance at June 30, 2014 (11,209 ) Increases for tax positions taken during the current period (405 ) Effect of exchange rate changes 440 Decrease relating to lapse of applicable statute of limitations 42 Balance at June 30, 2015 (11,132 ) Increases for tax positions taken during the current period (184 ) Effect of exchange rate changes 82 Decrease relating to lapse of applicable statute of limitations 414 Balance at June 30, 2016 $ (10,820 )

Note 12 - Employee Benefit an37

Note 12 - Employee Benefit and Retirement Plans (Tables)	12 Months Ended
	Jun. 30, 2016
UK Plan [Member]
Notes Tables
Schedule of Changes in Projected Benefit Obligations [Table Text Block]	2016 2015 2014 Change in benefit obligation Benefit obligation at beginning of year $ 49,791 $ 51,008 $ 41,528 Service cost 0 0 383 Interest cost 1,784 1,979 2,054 Participant contributions - - 183 Exchange rate changes (7,825 ) (4,167 ) 5,359 Benefits paid (1,997 ) (2,152 ) (1,693 ) Actuarial loss 2,617 3,123 3,194 Benefit obligation at end of year $ 44,370 $ 49,791 $ 51,008 Weighted average assumptions - benefit obligation Discount rate 3.00 % 3.90 % 4.30 % Rate of compensation increase n/a n/a n/a % Change in plan assets Fair value of plan assets at beginning of year $ 37,934 $ 38,295 $ 32,118 Actual return on plan assets 1,956 3,740 2,444 Employer contributions 1,102 1,179 1,148 Participant contributions - - 183 Benefits paid (1,997 ) (2,152 ) (1,693 ) Exchange rate changes (5,890 ) (3,128 ) 4,095 Fair value of plan assets at end of year 33,105 37,934 38,295 Funded status at end of year $ (11,265 ) $ (11,857 ) (12,713 ) Amounts recognized in balance sheet Current liability $ — $ — $ — Noncurrent liability (11,265 ) (11,857 ) (12,713 ) Net amount recognized in balance sheet $ (11,265 ) $ (11,857 ) $ (12,713 ) Weighted average assumptions – net periodic benefit cost Discount rate 3.90 % 4.30 % 4.70 % Rate of compensation increase n/a n/a 3.10 % Return on plan assets 4.77 % 5.45 % 5.40 % Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss Prior service cost $ — $ — $ — Accumulated loss (4,437 ) (4,978 ) (5,101 ) Amounts not yet recognized as a component of net periodic benefit cost (4,437 ) (4,978 ) (5,101 ) Accumulated net periodic benefit cost in excess of contributions (6,828 ) (6,879 ) (7,612 ) Net amount recognized $ (11,265 ) $ (11,857 ) $ (12,713 ) Components of net periodic benefit cost Service cost $ — $ — $ 383 Interest cost 1,784 1,979 2,054 Expected return on plan assets (1,679 ) (1,903 ) (1,848 ) Amortization of net loss 2,099 990 386 Net periodic benefit cost $ 2,204 $ 1,066 $ 975 Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year $ — $ — $ — Information for plan with accumulated benefits in excess of plan assets Projected benefit obligation $ 44,370 $ 49,791 $ 51,008 Accumulated benefit obligation 44,370 49,791 51,008 Fair value of assets 33,104 37,934 38,295
US Plan [Member]
Notes Tables
Schedule of Changes in Projected Benefit Obligations [Table Text Block]	2016 2015 2014 Change in benefit obligation Benefit obligation at beginning of year $ 116,398 $ 110,054 $ 99,788 Service cost 2,757 2,663 2,326 Interest cost 5,248 4,839 4,868 Benefits paid (4,593 ) (4,372 ) (4,263 ) Actuarial loss 11,053 3,214 7,335 Benefit obligation at end of year $ 130,863 $ 116,398 $ 110,054 Weighted average assumptions – benefit obligation Discount rate 3.77 % 4.49 % 4.29 % Rate of compensation increase Varies Varies Varies Change in plan assets Fair value of plan assets at beginning of year $ 84,853 $ 84,629 $ 77,208 Actual return on plan assets (1,730 ) (274 ) 11,661 Employer contributions 3,380 4,870 23 Benefits paid (4,593 ) (4,372 ) (4,263 ) Fair value of plan assets at end of year 81,910 84,853 84,629 Funded status at end of year $ (48,953 ) $ (31,545 ) $ (25,425 ) Amounts recognized in balance sheet Current liability $ (45 ) $ (37 ) $ (37 ) Noncurrent liability (48,908 ) (31,508 ) (25,388 ) Net amount recognized in balance sheet $ (48,953 ) $ (31,545 ) $ (25,425 ) Weighted average assumptions – net periodic benefit cost Discount rate 4.49 % 4.29 % 4.96 % Rate of compensation increase Varies Varies Varies Return on plan assets 5.50 % 6.00 % 6.00 % Amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive loss Prior service cost $ - $ - $ - Accumulated loss (13,412 ) (11,817 ) (3,585 ) Amounts not yet recognized as a component of net periodic benefit cost (13,412 ) (11,817 ) (3,585 ) Accumulated contributions less than net periodic benefit cost (35,541 ) (19,728 ) (21,840 ) Net amount recognized $ (48,953 ) $ (31,545 ) $ (25,425 ) Components of net periodic benefit cost Service cost $ 2,757 $ 2,663 $ 2,326 Interest cost 5,248 4,839 4,868 Expected return on plan assets (4,589 ) (5,063 ) (4,484 ) Amortization of prior service cost - - 116 Recognized actuarial loss 15,779 319 12 Net periodic benefit cost $ 19,195 $ 2,758 $ 2,838 Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year Prior service cost $ - $ - $ (30 ) Net loss (114 ) (53 ) - Information for plan with accumulated benefits in excess of plan assets Projected benefit obligation $ 130,863 $ 116,398 $ 110,054 Accumulated benefit obligation 123,749 109,383 103,155 Fair value of assets 81,910 84,853 84,629
US and UK Plans Combined [Member]
Notes Tables
Schedule of Changes in Projected Benefit Obligations [Table Text Block]	2016 2015 2014 Change in benefit obligation Benefit obligation at beginning of year $ 166,189 $ 161,062 $ 141,316 Service cost 2,757 2,663 2,709 Interest cost 7,032 6,818 6,922 Participant contributions - - 183 Exchange rate changes (7,825 ) (4,167 ) 5,359 Benefits paid (6,590 ) (6,524 ) (5,956 ) Actuarial (gain) loss 13,670 6,337 10,529 Benefit obligation at end of year $ 175,233 $ 166,189 $ 161,062 Change in plan assets Fair value of plan assets at beginning of year 122,787 122,924 109,326 Actual return on plan assets 226 3,466 14,105 Employer contributions 4,482 6,049 1,171 Participant contributions - - 183 Benefits paid (6,590 ) (6,524 ) (5,956 ) Exchange rate changes (5,890 ) (3,128 ) 4,095 Fair value of plan assets at end of year 115,015 122,787 122,924 Funded status at end of year $ (60,218 ) $ (43,402 ) $ (38,138 ) Amounts recognized in balance sheet Current liability $ (45 ) $ (37 ) $ (37 ) Noncurrent liability (60,173 ) (43,365 ) (38,101 ) Net amount recognized in balance sheet $ (60,218 ) $ (43,402 ) $ (38,138 ) Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss Prior service cost $ - $ - $ - Accumulated loss (17,849 ) (16,795 ) (8,686 ) Amounts not yet recognized as a component of net periodic benefit cost (17,849 ) (16,795 ) (8,686 ) Accumulated net periodic benefit cost in excess of contributions (42,369 ) (26,607 ) (29,452 ) Net amount recognized $ (60,218 ) $ (43,402 ) $ (38,138 ) Components of net periodic benefit cost Service cost $ 2,757 $ 2,663 $ 2,709 Interest cost 7,032 6,818 6,922 Expected return on plan assets (6,268 ) (6,966 ) (6,332 ) Amortization of prior service cost - - 116 Recognized actuarial loss 17,878 1,309 398 Net periodic benefit cost $ 21,399 $ 3,824 $ 3,813 Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year Prior service cost $ - $ - $ (30 ) Net loss (114 ) (53 ) - Information for pension plans with accumulated benefits in excess of plan assets Projected benefit obligation $ 175,233 $ 166,189 $ 161,062 Accumulated benefit obligation 168,119 159,174 154,163 Fair value of assets 115,015 122,787 122,924
Schedule of Allocation of Plan Assets [Table Text Block]	2016 2015 Asset category: Cash equivalents 0 % 1 % Fixed income 18 % 17 % Equities 27 % 25 % Mutual and pooled funds 55 % 57 % 100 % 100 %
Schedule of Portfolio By Valuation Category [Table Text Block]	June 30, 2016 Asset Category Level 1 Level 2 Level 3 Total % Cash Equivalent $ 672 $ - $ - $ 672 0 % Fixed Income - 20,342 - 20,342 18 % Equities 28,639 2,435 - 31,074 27 % Mutual & Pooled Funds 30,057 30,060 2,810 62,927 55 % Total $ 59,368 $ 52,837 $ 2,810 $ 115,015 100 % June 30, 2015 Asset Category Level 1 Level 2 Level 3 Total % Cash Equivalent $ 1,064 $ - $ - $ 1,064 1 % Fixed Income - 21,058 - 21,058 17 % Equities 27,960 3,210 - 31,170 25 % Mutual & Pooled Funds 31,873 33,538 4,084 69,495 57 % Total $ 60,897 $ 57,806 $ 4,084 $ 122,787 100 %
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]	Fair Value Measurement Using S ignificant Unobservable Inputs (Level 3) 2016 2015 Beginning balance $ 4,084 $ 3,895 Actual returns on assets (718 ) 507 Translation loss (556 ) (318 ) Ending balance $ 2,810 $ 4,084
Schedule of Medical and Life Insurance Benefits [Table Text Block]	2016 2015 2014 Change in benefit obligation: Benefit obligation at beginning of year $ 6,611 $ 5,867 $ 10,964 Service cost 105 113 225 Interest cost 287 244 396 Plan amendments — — (5,730 ) Benefits paid (772 ) (647 ) (429 ) Actuarial (gain) loss 1,150 1,034 441 Benefit obligation at end of year $ 7,381 $ 6,611 $ 5,867 Weighted average assumptions: benefit obligations Discount rate 3.77 % 4.49 % 4.29 % Rate of compensation increase 2.64 % 2.64 % 2.64 % Change in plan assets Fair value of plan assets at beginning of year $ — $ — $ — Employer contributions 772 647 429 Benefits paid, net of employee contributions (772 ) (647 ) (429 ) Fair value of plan assets at end of year — — — Amounts recognized in balance sheet Current postretirement benefit obligation $ (396 ) $ (441 ) $ (379 ) Non-current postretirement benefit obligation (6,985 ) (6,170 ) (5,488 ) Net amount recognized in balance sheet $ (7,381 ) $ (6,611 ) $ (5,867 ) Weighted average assumptions – net periodic benefit cost Discount rate 4.49 % 4.29 % 4.96 % Rate of compensation increase 2.64 % 2.64 % 2.64 % Amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive loss Prior service credit $ 4,523 $ 5,305 $ 6,104 Accumulated gain (loss) (1,983 ) (850 ) 185 Amounts not yet recognized as a component of net periodic benefit cost 2,540 4,455 6,289 Net periodic benefit cost in excess of accumulated contributions (9,921 ) (11,066 ) (12,156 ) Net amount recognized $ (7,381 ) $ (6,611 ) $ (5,867 ) Components of net periodic benefit cost Service cost $ 105 $ 113 $ 225 Interest cost 287 244 396 Amortization of prior service credit (781 ) (799 ) (771 ) Amortization of accumulated loss 15 — (1 ) Net periodic benefit cost $ (374 ) $ (442 ) $ (151 Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year Prior service credit $ 673 $ 781 $ 799 Net loss (120 ) (15 ) — $ 553 $ 766 $ 799 Healthcare cost trend rate assumed for next year 6.90 % 8.00 % 8.30 % Rate to which the cost trend rate gradually declines 4.50 % 4.50 % 4.50 % Year that the rate reaches the rate at which it is assumed to remain 2027 2027 2026
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]	1% Increase 2016 2015 2014 Effect on total of service and interest cost $ - $ - $ 35 Effect on postretirement benefit obligation 2 4 7 1% Decrease 2016 2015 2014 Effect on total of service and interest cost $ - $ - $ (30 ) Effect on postretirement benefit obligation (2 ) (4 ) (7 )
Schedule of Expected Benefit Payments [Table Text Block]	Fiscal Year Pension Other Benefits 2017 $ 6,700 $ 396 2018 6,997 363 2019 7,326 358 2020 7,656 364 2021 7,966 370 2022-2026 45,924 1,926

Note 13 - Debt (Tables)

Note 13 - Debt (Tables)	12 Months Ended
	Jun. 30, 2016
Notes Tables
Schedule of Debt [Table Text Block]	June 30, 2016 June 30, 2015 Short-term and current maturities Loan and Security Agreement $ 1,543 $ 1,474 Capitalized leases - 78 $ 1,543 $ 1,552 Long-term debt Loan and Security Agreement, net of current portion $ 17,109 $ 18,552 17,109 18,552 Total debt $ 18,652 $ 20,104
Schedule of Maturities of Long-term Debt [Table Text Block]	Fiscal Year 2017 $ 1,543 2018 11,014 2019 1,688 2020 1,765 2021 1,846 Thereafter 796 Total $ 18,652

Note 17 - Financial Informati39

Note 17 - Financial Information by Segment and Geographic Area (Tables)	12 Months Ended
	Jun. 30, 2016
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Year Ended June 30, 2016 North America International Unallocated Total 1 Sales $ 130,108 $ 79,577 $ $ 209,685 Operating income (8,311 ) (3,117 ) (9,017 ) (20,445 ) Asset impairment (4,114 ) - (4,114 ) Capital expenditures 5,040 3,200 8,240 Depreciation and amortization 4,537 2,677 7,214 Current assets 4 33,787 62,810 24,314 120,911 Long-lived assets 5 36,539 13,995 30,153 80,687 Year Ended June 30, 2015 North America International Unallocated Total 2 Sales $ 137,085 $ 104,465 $ $ 241,550 Operating income 13,353 1,333 (6,083 ) 8,603 Capital expenditures 3,449 2,251 5,700 Depreciation and amortization 5,604 3,113 8,717 Current assets 4 41,240 68,656 23,517 133,413 Long-lived assets 5 40,506 14,066 24,287 78,859 Year Ended June 30, 2014 North America International Unallocated Total 3 Sales $ 129,287 $ 117,847 $ $ 247,134 Operating income 11,231 7,831 (7,147 ) 11,915 Capital expenditures 3,116 5,720 8,836 Depreciation and amortization 5,948 3,410 9,358 Current assets 4 40,716 75,193 30,993 146,902 Long-lived assets 5 43,127 19,203 22,211 84,541
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	Year Ended June 30, North America 2016 2015 2014 United States $ 119,638 $ 125,534 $ 117,249 Canada & Mexico 10,470 11,551 12,038 130,108 137,085 129,287 International Brazil 43,283 63,961 74,478 United Kingdom 24,485 26,691 28,322 China 7,207 8,357 9,322 Australia & New Zealand 4,602 5,456 5,725 79,577 104,465 117,847 Total Sales $ 209,685 $ 241,550 $ 247,134 Year Ended June 30, North America 2016 2015 2014 United States $ 36,189 $ 40,146 $ 42,740 Canada & Mexico 350 360 387 36,539 40,506 43,127 International Brazil 8,818 7,986 12,334 United Kingdom 2,143 2,647 3,093 China 2,887 3,291 3,558 Australia & New Zealand 147 142 218 13,995 14,066 19,203 Total Long Lived Assets $ 50,534 $ 54,572 $ 62,330

Note 18 - Quarterly Financial40

Note 18 - Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Jun. 30, 2016
Notes Tables
Quarterly Financial Information [Table Text Block]	Quarter Ended Net Sales Gross Margin Earnings Before Income Taxes Net Earnings / (Loss) Basic and Diluted Earnings / (Loss) Per Share September 2014 $ 60,172 $ 19,143 $ 1,741 $ 923 $ 0.13 December 2014 63,821 22,164 4,323 2,447 0.35 March 2015 56,116 18,694 3,508 2,437 0.35 June 2015 61,441 16,694 370 (563 ) (0.08 ) $ 241,550 $ 76,695 $ 9,942 $ 5,244 $ 0.75 September 2015 $ 51,038 $ 15,852 $ 482 $ (178 ) $ (0.03 ) December 2015 53,671 15,999 992 458 0.07 March 2016 50,329 14,733 1,199 597 0.09 June 2016 54,647 404 (23,048 ) (15,007 ) (2.14 ) $ 209,685 $ 46,988 $ (20,375 ) $ (14,130 ) $ (2.01 )

Schedule II - Valuation and Q41

Schedule II - Valuation and Qualifying Accounts (Tables)	12 Months Ended
	Jun. 30, 2016
Notes Tables
Allowance for Credit Losses on Financing Receivables [Table Text Block]	(in 000) Balance at Beginning of Period Provisions Charges to Other Accounts Write-offs Balance at End of Period Allowance for Doubtful Accounts: Year Ended June 30, 2016 $ 612 $ 352 $ (2 ) $ (75 ) $ 887 Year Ended June 30, 2015 704 179 (163 ) (108 ) 612 Year Ended June 30, 2014 697 27 27 (47 ) 704 (in 000) Balance at Beginning of Period Provisions Charges to Other Accounts Write-offs Balance at End of Period Year Ended June 30, 2016 $ 4,501 $ 1,193 $ (344 ) $ (104 ) $ 5,246 Year Ended June 30, 2015 3,334 1,242 (24 ) (51 ) 4,501 Year Ended June 30, 2014 4,539 302 (355 ) (1,152 ) 3,334

Note 2 - Significant Accounti42

Note 2 - Significant Accounting Policies (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life		10 years
Building and Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life		50 years
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life		3 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life		12 years
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life		5 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life		15 years
Patents [Member]
Finite-Lived Intangible Asset, Useful Life		15 years
Trademarks [Member]
Finite-Lived Intangible Asset, Useful Life		14 years
Completed Technology [Member]
Finite-Lived Intangible Asset, Useful Life		10 years
Noncompete Agreements [Member]
Finite-Lived Intangible Asset, Useful Life		8 years
Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life		8 years
Software Developement [Member]
Finite-Lived Intangible Asset, Useful Life		5 years
Reclassification From Current Deferred Tax Assets to Noncurrent Deferred Tax Assets [Member] | Scenario, Forecast [Member]
Current Period Reclassification Adjustment	$ 4,500,000
Derivative Asset		$ 900,000	$ 1,300,000
Provision for Doubtful Accounts		300,000	200,000	$ 0
Construction in Progress, Gross		2,900,000	1,300,000
Impairment of Long-Lived Assets Held-for-use		4,114,000
Advertising Expense		5,000,000	5,700,000	5,500,000
Defined Benefit Plan, Effect of Plan Amendment on Net Periodic Benefit Cost		17,800,000	1,300,000	400,000
Undistributed Earnings of Foreign Subsidiaries		67,000,000
Research and Development Expense		$ 1,800,000	$ 1,700,000	$ 1,400,000
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements		32,833	40,214	29,951

Note 3 - Investment (Details Te

Note 3 - Investment (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2010	Aug. 31, 2011
Future Investment in Equity Method Investment				$ 1.5
Equity Method Investment, Ownership Percentage				36.00%
Income (Loss) from Equity Method Investments	$ 0.1	$ 0.2	$ 0.3
Equity Method Investments	$ 2.2	$ 2.1
Guarantor Obligations, Current Carrying Value					$ 0.5

Note 4 - Stock-based Compensa44

Note 4 - Stock-based Compensation (Details Textual) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2012	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Minimum [Member] | Employee Stock Option [Member] | The 2012 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		1 year
Minimum [Member] | Restricted Stock Units (RSUs) [Member] | The 2012 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		1 year
Maximum [Member] | Employee Stock Option [Member] | The 2012 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years
Maximum [Member] | Restricted Stock Units (RSUs) [Member] | The 2012 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years
Employee Stock Option [Member] | The 2012 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period		10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number		20,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term		6 years 182 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value		$ 100,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number		20,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		0	0	0
Employee Stock Option [Member] | Employee Stock Purchase Plan ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		2 years
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent		85.00%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	500,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum		40.06%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum		42.03%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum		0.75%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum		0.77%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term		2 years
Restricted Stock Units (RSUs) [Member] | The 2012 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number		73,367
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		40,200	39,500	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 15.11	$ 17.49
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period		9,067	2,733
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value		$ 900,000	$ 800,000
The 2012 Stock Incentive Plan [Member] | Total Unrecognized Compensation Including Portion Relating to Grants Not Expected to Be Awarded [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		1,000,000
The 2012 Stock Incentive Plan [Member] | Portion Relating to RSU Grants Not Expected to be Awarded [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		$ 700,000
The 2012 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number		63,915	54,307	75,388	88,728
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		391,600
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number		0	0	0
Allocated Share-based Compensation Expense		$ 214,000	$ 146,000	$ 54,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		$ 300,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		1 year 182 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		52,836	35,208	43,643
Employee Stock Purchase Plan ESPP [Member]
Allocated Share-based Compensation Expense		$ 143,065	$ 139,006	$ 138,677
The 2013 ESOP [Member]
Allocated Share-based Compensation Expense		$ 0	$ 0	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		500,000

Note 4 - Summary of Stock Optio

Note 4 - Summary of Stock Option Activity (Details) - The 2012 Stock Incentive Plan [Member] - $ / shares	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Shares Available For Grant [Member]
Shares Available for Grant (in shares)	414,975	424,612	448,544
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	52,836	35,208	43,643
Shares Available for Grant (in shares)	(52,836)	(35,208)	(43,643)
Options canceled (in shares)	(27,705)	(25,571)	(19,711)
Shares Available for Grant (in shares)	27,705	25,571	19,711
Shares Available for Grant (in shares)	389,844	414,975	424,612
Balance (in shares)	54,307	75,388	88,728
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	52,836	35,208	43,643
Options granted (in dollars per share)	$ 9.37	$ 13.97	$ 10.91
Shares Available for Grant (in shares)	(52,836)	(35,208)	(43,643)
Options exercised (in shares)	(15,523)	(30,718)	(26,225)
Options exercised (in dollars per share)	$ 9.57	$ 8.82	$ 9.83
Options canceled (in shares)	(27,705)	(25,571)	(30,758)
Shares Available for Grant (in shares)	27,705	25,571	30,758
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	54,307	75,388	88,728
Shares Available for Grant (in shares)	391,600
Balance (in shares)	63,915	54,307	75,388

Note 4 - Stock Options Outstand

Note 4 - Stock Options Outstanding Weighted Average Fair Value (Details) - $ / shares	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Employee Stock Purchase Plan ESPP [Member]
Weighted average remaining life (years)	1 year 109 days
2014 (in dollars per share)		$ 4.68	$ 3.37
2014 (in dollars per share)	$ 3.34

Note 5 - Cash and Short-term 47

Note 5 - Cash and Short-term Investments (Details Textual) - USD ($) $ in Millions	Jun. 30, 2016	Jun. 30, 2015
United Kingdom, Pounds
Cash, Cash Equivalents, and Short-term Investments	$ 6.7
Brazil, Brazil Real
Cash, Cash Equivalents, and Short-term Investments	1.6
Cash, Cash Equivalents, and Short-term Investments	$ 10.2	$ 12
Certificates of Deposit, at Carrying Value		$ 7.9

Note 6 - Inventories (Details T

Note 6 - Inventories (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cost of Sales [Member]
Inventory, LIFO Reserve, Effect on Income, Net	$ 0.8	$ 0.7
LIFO Inventory Amount	10.5	14.6
Inventory Difference Using FIFO Basis	$ 28.8	$ 28

Note 6 - Inventory (Details)

Note 6 - Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015
Raw materials and supplies	$ 29,209	$ 32,784
Goods in process and finished parts	16,459	18,569
Finished goods	39,449	39,689
	85,117	91,042
LIFO reserve	(28,796)	(28,039)
	$ 56,321	$ 63,003

Note 7 - Intangible Assets (Det

Note 7 - Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015
Goodwill	$ 3,034	$ 3,034
Goodwill	3,034	3,034
Identifiable intangible assets	12,115	11,368
Accumulated Amortization	(5,625)	(4,243)
Identifiable intangible assets	$ 6,490	$ 7,125

Note 7 - Finite-lived Intangibl

Note 7 - Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015
Noncompete Agreements [Member]
Intangible assets, gross	$ 600	$ 600
Trademarks and Trade Names [Member]
Intangible assets, gross	1,480	1,480
Completed Technology [Member]
Intangible assets, gross	2,358	2,358
Customer Relationships [Member]
Intangible assets, gross	4,950	4,950
Software Developement [Member]
Intangible assets, gross	2,402	1,655
Other Intangible Assets [Member]
Intangible assets, gross	325	325
Intangible assets, gross	12,115	11,368
Accumulated amortization	(5,625)	(4,243)
Total net balance	$ 6,490	$ 7,125

Note 7 - Estimated Aggregate Am

Note 7 - Estimated Aggregate Amortization Expense (Details) $ in Thousands	Jun. 30, 2016USD ($)
2,017	$ 1,581
2,018	1,513
2,019	1,434
2,020	911
2,021	508
Thereafter	$ 543

Note 8 - Property, Plant and 53

Note 8 - Property, Plant and Equipment (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Capital Leased Assets, Gross	$ 0	$ 0
Operating Leases, Rent Expense, Net	$ 2,300,000	$ 2,200,000	$ 1,900,000

Note 8 - Property, Plant and 54

Note 8 - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015
Land [Member]
Cost	$ 1,314	$ 1,320
Net	1,314	1,320
Building and Building Improvements [Member]
Cost	45,486	45,434
Net	15,891	20,224
Accumulated Depreciation	(29,595)	(25,210)
Machinery and Equipment [Member]
Cost	126,882	132,788
Net	23,805	22,869
Accumulated Depreciation	(103,077)	(109,919)
Cost	173,682	179,542
Net	41,010	44,413
Accumulated Depreciation	$ (132,672)	$ (135,129)

Note 8 - Future Commitments Und

Note 8 - Future Commitments Under Operating Leases (Details) $ in Thousands	Jun. 30, 2016USD ($)
2,017	$ 2,204
2,018	2,040
2,019	1,876
2,020	1,614
2,021	1,685
Thereafter	2,191
	$ 11,610

Note 9 - Impairment of Assets (

Note 9 - Impairment of Assets (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Impairment of Long-Lived Assets Held-for-use	$ 4,114,000

Note 10 - Other Income and Ex57

Note 10 - Other Income and Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Interest income	$ 504	$ 828	$ 951
Interest expense	(669)	(713)	(800)
Foreign currency gain (loss), net	(59)	705	(840)
Income from equity investment	118	203	257
Brazil recovery of export taxes		232
Sale of scrap material	95	93	126
Gain on resolution of contingency			89
Other income (expense), net	81	(9)	359
	$ 70	$ 1,339	$ 142

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
State Administration of Taxation, China [Member]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority			$ 200,000
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount			(400,000)
Her Majesty's Revenue and Customs (HMRC) [Member]
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount			$ 300,000
Effective Income Tax Rate Reconciliation, Percent			20.00%	23.00%
Foreign Tax Authority [Member] | Foreign Carryforward Losses [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		$ 700,000
Foreign Tax Authority [Member] | Foreign Tax Credits [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		500,000
Foreign Tax Authority [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 700,000	1,200,000
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	2,600,000
State and Local Jurisdiction [Member]
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	1,000,000
Proceeds from Equity Method Investment, Dividends or Distributions		2,300,000
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount			$ 278,000
Deferred Tax Assets, Net	29,615,000	21,809,000
Increase (Decrease) in Pension Plan Obligations	19,000,000
Income Taxes Receivable, Noncurrent	2,655,000	$ 3,383,000
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount, Expiration of Statute of Limitations	100,000
Undistributed Earnings of Foreign Subsidiaries	$ 67,000,000

Note 11 - Components of Earning

Note 11 - Components of Earnings (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Domestic Operations [Member]
Earnings before income taxes									$ (17,541)	$ 8,118	$ 5,793
Foreign Operations [Member]
Earnings before income taxes									(2,834)	1,824	6,264
Earnings before income taxes	$ (23,048)	$ 1,199	$ 992	$ 482	$ 370	$ 3,508	$ 4,323	$ 1,741	$ (20,375)	$ 9,942	$ 12,057

Note 11 - Provision (Benefit) F

Note 11 - Provision (Benefit) For Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Current:
Federal	$ (317)	$ 1,744	$ 155
Foreign	866	1,855	3,284
State	94	114	86
Deferred:
Federal	(6,092)	670	2,175
Foreign	47	(71)	(426)
State	(843)	386	71
	$ (6,245)	$ 4,698	$ 5,345

Note 11 - Reconciliation of Exp

Note 11 - Reconciliation of Expected Tax Expense (Benefit) to Actual Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Expected tax expense	$ (6,928)	$ 3,380	$ 4,099
State taxes, net of federal effect	(740)	378	269
Foreign taxes, net of federal credits	278	235	123
Change in valuation allowance	196	(51)	(428)
Tax reserve adjustments	250	361	465
Return to provision and other adjustments	(167)	(332)	(265)
Losses not benefited	885	701	350
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount			278
Other permanent items	(19)	26	454
Actual tax expense (benefit)	$ (6,245)	$ 4,698	$ 5,345

Note 11 - Deferred Income Taxes

Note 11 - Deferred Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015
Deferred tax assets (current):
Inventories	$ 2,888	$ 2,597
Employee benefits (other than pension)	988	1,016
Book reserves	1,347	818
Other	308	687
Total current deferred tax assets	5,531	5,118
Valuation allowance	(1,013)	(564)
Current deferred tax asset	4,518	4,554
Deferred tax assets (long-term):
State NOL, various carryforward periods	975	801
Foreign NOL, various carryforward periods	1,738	1,908
Foreign tax credit carryforward, expiring 2017 – 2026	2,638	2,405
Pension benefits	19,573	13,224
Retiree medical benefits	2,790	2,499
Depreciation	286
Intangibles	1,243	1,713
Other	274	190
Total long-term deferred tax assets	29,517	22,740
Valuation allowance	(4,233)	(3,937)
Long-term deferred tax asset	25,284	18,803
Deferred tax liabilities (long-term):
Depreciation	(187)	(1,548)
Long-term deferred tax liabilities	(187)	(1,548)
Net deferred tax assets	$ 29,615	$ 21,809

Note 11 - Reconciliations of Un

Note 11 - Reconciliations of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Balance at June 30	$ 11,132	$ 11,209	$ 10,978
Increases for tax positions taken during a prior period	(184)		(204)
Increases for tax positions taken during the current period		(405)	(259)
Effect of exchange rate changes	(82)	(440)	(9)
Decrease relating to settlement			241
Balance at June 30	(10,820)	(11,132)	(11,209)
Effect of exchange rate changes	82	440	$ 9
Decrease relating to lapse of applicable statute of limitations	$ 414	$ 42

Note 12 - Employee Benefit an64

Note 12 - Employee Benefit and Retirement Plans (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Maximum [Member] | Equity Securities [Member]
Defined Benefit Plan, Target Plan Asset Allocations		70.00%
Maximum [Member] | Company Stock [Member]
Defined Benefit Plan, Target Plan Asset Allocations		20.00%
Maximum [Member] | Cash and Debt Securities [Member]
Defined Benefit Plan, Target Plan Asset Allocations		60.00%
Maximum [Member]
Fixed Contribution Toward Medical Premium for Retirees 65 and Older		$ 28.50
Minimum [Member] | Equity Securities [Member]
Defined Benefit Plan, Target Plan Asset Allocations		40.00%
Minimum [Member] | Company Stock [Member]
Defined Benefit Plan, Target Plan Asset Allocations		10.00%
Minimum [Member] | Cash and Debt Securities [Member]
Defined Benefit Plan, Target Plan Asset Allocations		30.00%
Minimum [Member]
Fixed Contribution Toward Medical Premium for Retirees 65 and Older		$ 23
US Plan [Member] | Scenario, Forecast [Member]
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets	5.00%
US Plan [Member]
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets		5.50%	6.00%	6.00%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate		3.77%	4.49%	4.29%
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year		$ 4,100,000
UK Plan [Member] | Scenario, Forecast [Member]
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets	3.60%
UK Plan [Member]
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets		4.77%	5.45%	5.40%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate		3.00%	3.90%	4.30%
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year		$ 1,000,000
Non-qualified Domestic Pension Plan [Member]
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year		$ 45,000
Post Retirement Medical and Life Insurance Plan [Member]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate		3.77%	4.49%	4.29%
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year		$ 396,000
Pension Expense		22,200,000	$ 4,600,000	$ 5,000,000
Defined Contribution Plan, Employer Discretionary Contribution Amount		800,000	800,000	$ 1,200,000
Fair Value of the Company's Common Stock		$ 9,700,000	$ 12,500,000

Note 12 - Actual Asset Allocati

Note 12 - Actual Asset Allocation For The Assets Within The Company's Plans (Details)	Jun. 30, 2016	Jun. 30, 2015
Cash and Cash Equivalents [Member]
Asset category:
Asset allocation	0.00%	1.00%
Fixed Income Securities [Member]
Asset category:
Asset allocation	18.00%	17.00%
Equity Securities [Member]
Asset category:
Asset allocation	27.00%	25.00%
Mutual and Pooled Funds [Member]
Asset category:
Asset allocation	55.00%	57.00%
Asset allocation	100.00%	100.00%

Note 12 - Portfolio by Valuatio

Note 12 - Portfolio by Valuation Category (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Fair Value, Inputs, Level 1 [Member] | Cash Equivalents [Member]
Fair Value	$ 672	$ 1,064
Fair Value, Inputs, Level 1 [Member] | Fixed Income Securities [Member]
Fair Value
Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member]
Fair Value	28,639	27,960
Fair Value, Inputs, Level 1 [Member] | Mutual and Pooled Funds [Member]
Fair Value	30,057	31,873
Fair Value, Inputs, Level 1 [Member]
Fair Value	59,368	60,897
Fair Value, Inputs, Level 2 [Member] | Cash Equivalents [Member]
Fair Value
Fair Value, Inputs, Level 2 [Member] | Fixed Income Securities [Member]
Fair Value	20,342	21,058
Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member]
Fair Value	2,435	3,210
Fair Value, Inputs, Level 2 [Member] | Mutual and Pooled Funds [Member]
Fair Value	30,060	33,538
Fair Value, Inputs, Level 2 [Member]
Fair Value	52,837	57,806
Fair Value, Inputs, Level 3 [Member] | Cash Equivalents [Member]
Fair Value
Fair Value, Inputs, Level 3 [Member] | Fixed Income Securities [Member]
Fair Value
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member]
Fair Value
Fair Value, Inputs, Level 3 [Member] | Mutual and Pooled Funds [Member]
Fair Value	2,810	4,084
Fair Value, Inputs, Level 3 [Member]
Fair Value	2,810	4,084	$ 3,895
Cash Equivalents [Member]
Fair Value	$ 672	$ 1,064
Asset Allocation	0.00%	1.00%
Fixed Income Securities [Member]
Fair Value	$ 20,342	$ 21,058
Asset Allocation	18.00%	17.00%
Equity Securities [Member]
Fair Value	$ 31,074	$ 31,170
Asset Allocation	27.00%	25.00%
Mutual and Pooled Funds [Member]
Fair Value	$ 62,927	$ 69,495
Asset Allocation	55.00%	57.00%
Fair Value	$ 115,015	$ 122,787
Asset Allocation	100.00%	100.00%

Note 12 - Reconciliation of Lev

Note 12 - Reconciliation of Level 3 Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Fair Value, Inputs, Level 3 [Member]
Beginning balance	$ 4,084	$ 3,895
Actual return on plan assets	(718)	507
Exchange rate changes	(556)	(318)
Ending balance	2,810	4,084
Beginning balance	122,787
Ending balance	$ 115,015	$ 122,787

Note 12 - Status of Defined Ben

Note 12 - Status of Defined Benefit Plans - US & UK Combined (Details) - US and UK Plans Combined [Member] - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Change in Benefit Obligations [Member]
Benefit obligation at beginning of year	$ 166,189	$ 161,062	$ 141,316
Service cost	2,757	2,663	2,709
Interest cost	7,032	6,818	6,922
Participant contributions			183
Exchange rate changes	(7,825)	(4,167)	5,359
Benefits paid	(6,590)	(6,524)	(5,956)
Actuarial (gain) loss	13,670	6,337	10,529
Benefit obligation at end of year	175,233	166,189	161,062
Change in Plan Assets [Member]
Participant contributions			183
Exchange rate changes	(5,890)	(3,128)	4,095
Benefits paid	(6,590)	(6,524)	(5,956)
Fair value of plan assets at beginning of year	122,787	122,924	109,326
Actual return on plan assets	226	3,466	14,105
Employer contributions	4,482	6,049	1,171
Fair value of plan assets at end of year	115,015	122,787	122,924
Amounts Recongnized in Balance Sheet [Member]
Current liability	(45)	(37)	(37)
Noncurrent liability	(60,173)	(43,365)	(38,101)
Net amount recognized in balance sheet	(60,218)	(43,402)	(38,138)
Components of Net Periodic Benefit Cost [Member]
Service cost	2,757	2,663	2,709
Interest cost	7,032	6,818	6,922
Expected return on plan assets	(6,268)	(6,966)	(6,332)
Amortization of prior service cost			116
Recognized actuarial loss	17,878	1,309	398
Net periodic benefit cost	21,399	3,824	3,813
Funded status at end of year	(60,218)	(43,402)	(38,138)
Net amount recognized in balance sheet	(60,218)	(43,402)	(38,138)
Prior service cost
Accumulated loss	(17,849)	(16,795)	(8,686)
Amounts not yet recognized as a component of net periodic benefit cost	(17,849)	(16,795)	(8,686)
Accumulated net periodic benefit cost in excess of contributions	(42,369)	(26,607)	(29,452)
Recognized actuarial loss	(114)	(53)
Prior service cost			(30)
Projected benefit obligation	175,233	166,189	161,062
Accumulated benefit obligation	168,119	159,174	154,163
Fair value of assets	$ 115,015	$ 122,787	$ 122,924

Note 12 - Status of Defined B69

Note 12 - Status of Defined Benefit Plans - US Plan (Details) - US Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Change in Benefit Obligations [Member]
Benefit obligation at beginning of year	$ 130,863	$ 116,398	$ 110,054	$ 99,788
Service cost		2,757	2,663	2,326
Interest cost		5,248	4,839	4,868
Benefits paid		(4,593)	(4,372)	(4,263)
Actuarial (gain) loss		11,053	3,214	7,335
Benefit obligation at end of year		130,863	116,398	110,054
Change in Plan Assets [Member]
Benefits paid		(4,593)	(4,372)	(4,263)
Fair value of plan assets at beginning of year	81,910	84,853	84,629	77,208
Actual return on plan assets		(1,730)	(274)	11,661
Employer contributions		3,380	4,870	23
Fair value of plan assets at end of year	$ 81,910	84,853	84,629	77,208	$ 81,910	$ 84,853	$ 84,629
Amounts Recongnized in Balance Sheet [Member]
Current liability					(45)	(37)	(37)
Noncurrent liability					(48,908)	(31,508)	(25,388)
Net amount recognized in balance sheet					$ (48,953)	$ (31,545)	$ (25,425)
Components of Net Periodic Benefit Cost [Member]
Service cost		2,757	2,663	2,326
Interest cost		5,248	4,839	4,868
Expected return on plan assets		(4,589)	(5,063)	(4,484)
Amortization of prior service cost				116
Recognized actuarial loss		15,779	319	12
Net periodic benefit cost		$ 19,195	$ 2,758	$ 2,838
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate					3.77%	4.49%	4.29%
Funded status at end of year					$ (48,953)	$ (31,545)	$ (25,425)
Net amount recognized in balance sheet					(48,953)	(31,545)	(25,425)
Discount rate		4.49%	4.29%	4.96%
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets		5.50%	6.00%	6.00%
Prior service cost
Accumulated loss					(13,412)	(11,817)	(3,585)
Amounts not yet recognized as a component of net periodic benefit cost					(13,412)	(11,817)	(3,585)
Accumulated net periodic benefit cost in excess of contributions					(35,541)	(19,728)	(21,840)
Prior service cost				$ (30)
Recognized actuarial loss		$ (114)	$ (53)
Projected benefit obligation					130,863	116,398	110,054
Accumulated benefit obligation					123,749	109,383	103,155
Fair value of assets					$ 81,910	$ 84,853	$ 84,629

Note 12 - Status of Defined B70

Note 12 - Status of Defined Benefit Plans - UK Plan (Details) - UK Plan [Member] - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Change in Benefit Obligations [Member]
Benefit obligation at beginning of year	$ 49,791,000	$ 51,008,000	$ 41,528,000
Service cost	0	0	383,000
Interest cost	1,784,000	1,979,000	2,054,000
Participant contributions			183,000
Exchange rate changes	(7,825,000)	(4,167,000)	5,359,000
Benefits paid	(1,997,000)	(2,152,000)	(1,693,000)
Actuarial (gain) loss	2,617,000	3,123,000	3,194,000
Benefit obligation at end of year	44,370,000	49,791,000	51,008,000
Benefits paid	(1,997,000)	(2,152,000)	(1,693,000)
Change in Plan Assets [Member]
Participant contributions			183,000
Benefits paid	(1,997,000)	(2,152,000)	(1,693,000)
Fair value of plan assets at beginning of year	37,934,000	38,295,000	32,118,000
Actual return on plan assets	1,956,000	3,740,000	2,444,000
Employer contributions	1,102,000	1,179,000	1,148,000
Benefits paid	(1,997,000)	(2,152,000)	(1,693,000)
Exchange rate changes	(5,890,000)	(3,128,000)	4,095,000
Fair value of plan assets at end of year	33,105,000	37,934,000	38,295,000
Funded status at end of year	(11,265,000)	(11,857,000)	(12,713,000)
Amounts Recongnized in Balance Sheet [Member]
Noncurrent liability	(11,265,000)	(11,857,000)	(12,713,000)
Net amount recognized in balance sheet	(11,265,000)	(11,857,000)	(12,713,000)
Components of Net Periodic Benefit Cost [Member]
Service cost			383,000
Interest cost	1,784,000	1,979,000	2,054,000
Expected return on plan assets	(1,679,000)	(1,903,000)	(1,848,000)
Recognized actuarial loss	2,099,000	990,000	386,000
Net periodic benefit cost	$ 2,204,000	$ 1,066,000	$ 975,000
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	3.00%	3.90%	4.30%
Net amount recognized in balance sheet	$ (11,265,000)	$ (11,857,000)	$ (12,713,000)
Discount rate	3.90%	4.30%	4.70%
Rate of compensation increase			3.10%
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Expected Long Term Return on Assets	4.77%	5.45%	5.40%
Amortization of prior service cost
Accumulated loss	(4,437,000)	(4,978,000)	(5,101,000)
Amounts not yet recognized as a component of net periodic benefit cost	(4,437,000)	(4,978,000)	(5,101,000)
Accumulated net periodic benefit cost in excess of contributions	(6,828,000)	(6,879,000)	(7,612,000)
Projected benefit obligation	44,370,000	49,791,000	51,008,000
Accumulated benefit obligation	44,370,000	49,791,000	51,008,000
Fair value of assets	$ 33,104,000	$ 37,934,000	$ 38,295,000

Note 12 - Medical and Life Insu

Note 12 - Medical and Life Insurance Benefits - Retired Employees (Details) - Post Retirement Medical and Life Insurance Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Change in Benefit Obligations [Member]
Benefit obligation at beginning of year	$ 6,611	$ 5,867	$ 10,964
Service cost	105	113	225
Interest cost	287	244	396
Plan amendments			(5,730)
Benefits paid	(772)	(647)	(429)
Actuarial (gain) loss	1,150	1,034	441
Benefit obligation at end of year	7,381	6,611	5,867
Change in Plan Assets [Member]
Benefits paid	(772)	(647)	(429)
Fair value of plan assets at beginning of year
Employer contributions	772	647	429
Fair value of plan assets at end of year
Amounts Recongnized in Balance Sheet [Member]
Current liability	(396)	(441)	(379)
Noncurrent liability	(6,985)	(6,170)	(5,488)
Net amount recognized in balance sheet	(7,381)	(6,611)	(5,867)
Components of Net Periodic Benefit Cost [Member]
Service cost	105	113	225
Interest cost	287	244	396
Amortization of prior service cost	(781)	(799)	(771)
Recognized actuarial loss	15		(1)
Net periodic benefit cost	$ (374)	$ (442)	$ (151)
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	3.77%	4.49%	4.29%
Rate of compensation increase	2.64%	2.64%	2.64%
Net amount recognized in balance sheet	$ (7,381)	$ (6,611)	$ (5,867)
Discount rate	4.49%	4.29%	4.96%
Rate of compensation increase	2.64%	2.64%	2.64%
Prior service credit	$ 4,523	$ 5,305	$ 6,104
Accumulated loss	(1,983)	(850)	185
Amounts not yet recognized as a component of net periodic benefit cost	2,540	4,455	6,289
Accumulated net periodic benefit cost in excess of contributions	(9,921)	(11,066)	(12,156)
Prior service credit	673	781	799
Recognized actuarial loss	(120)	(15)
	$ 553	$ 766	$ 799
Healthcare cost trend rate assumed for next year	6.90%	8.00%	8.30%
Rate to which the cost trend rate gradually declines	4.50%	4.50%	4.50%
Year that the rate reaches the rate at which it is assumed to remain	2,027	2,027	2,026

Note 12 - Effect of 1% Change i

Note 12 - Effect of 1% Change in Assumed Health Care Cost Trend Rates (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Effect on total of service and interest cost			$ 35
Effect on postretirement benefit obligation	2	4	7
Effect on total of service and interest cost			(30)
Effect on postretirement benefit obligation	$ (2)	$ (4)	$ (7)

Note 12 - Future Pension and Ot

Note 12 - Future Pension and Other Benefits Payments (Details) $ in Thousands	Jun. 30, 2016USD ($)
Pension [Member]
2,017	$ 6,700
2,018	6,997
2,019	7,326
2,020	7,656
2,021	7,966
2022-2026	45,924
Other Benefits [Member]
2,017	396
2,018	363
2,019	358
2,020	364
2,021	370
2022-2026	$ 1,926

Note 13 - Debt (Details Textual

Note 13 - Debt (Details Textual)	Nov. 22, 2011USD ($)Rate	Mar. 31, 2016USD ($)	Jun. 30, 2016USD ($)
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate			1.50%
Maximum [Member] | Amended Agreement [Member]
Current Funded Debt to EBITDA Ratio			2.25
Maximum [Member]
Annual Capital Expenditures		$ 15,000,000
Minimum [Member]
Debt Service Coverage Rate		1.25
Standby Letters of Credit [Member]
Long-term Line of Credit			$ 900,000
Term Loan [Member]
Debt Instrument, Face Amount	$ 15,500,000
Debt Instrument, Term	10 years
Debt Instrument, Interest Rate, Stated Percentage | Rate	4.50%
Line of Credit Facility, Periodic Payment	$ 160,640
Long-term Line of Credit			9,300,000
Line of Credit Facility, Maximum Borrowing Capacity			$ 23,000,000
Line of Credit Facility, Interest Rate During Period			2.20%
Minimum Consolidated Cash and Liquid Investments Pursuant to New Loan and Security Agreement		$ 10,000,000
Long-term Line of Credit			$ 9,400,000
Line of Credit Facility, Commitment Fee Percentage			0.25%
Line of Credit Facility, Current Borrowing Capacity			$ 22,100,000
Line of Credit Facility, Remaining Borrowing Capacity			$ 12,700,000

Note 13 - Debt Schedule (Detail

Note 13 - Debt Schedule (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015
Short-term and current maturities
Loan and Security Agreement	$ 1,543	$ 1,474
Capitalized leases		78
	1,543	1,552
Long-term debt
Loan and Security Agreement, net of current portion	17,109	18,552
	17,109	18,552
Total debt	$ 18,652	$ 20,104

Note 13 - Future Maturities of

Note 13 - Future Maturities of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015
2,017	$ 1,543
2,018	11,014
2,019	1,688
2,020	1,765
2,021	1,846
Thereafter	796
Total debt	$ 18,652	$ 20,104

Note 17 - Financial Informati77

Note 17 - Financial Information by Segment and Geographic Area (Details Textual) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2016USD ($)		Jun. 30, 2015USD ($)		Jun. 30, 2014USD ($)
North American Segment [Member] | Intersegment Eliminations [Member]
Revenue, Net									$ 8,259		$ 12,276		$ 17,692
North American Segment [Member]
Revenue, Net									130,108		137,085		129,287
International Segment [Member] | Intersegment Eliminations [Member]
Revenue, Net									9,282		9,842		8,585
International Segment [Member]
Revenue, Net									$ 79,577		$ 104,465		117,847
Number of Reportable Segments									2		1
Revenue, Net	$ 54,647	$ 50,329	$ 53,671	$ 51,038	$ 61,441	$ 56,116	$ 63,821	$ 60,172	$ 209,685	[1]	$ 241,550	[2]	$ 247,134	[3]
[1]	Excludes $8,259 of North American segment sales to the International segment and $9,282 sales of the International segment to the North American segment.
[2]	Excludes $12,276 of North American segment sales to the International segment and $9,842 sales of the International segment to the North American segment.
[3]	Excludes $17,692 of North American segment sales to the International segment and $8,585 sales of the International segment to the North American segment.

Note 17 - Financial Results for

Note 17 - Financial Results for Reportable Segments (Details) - USD ($)		3 Months Ended								12 Months Ended
		Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2016		Jun. 30, 2015		Jun. 30, 2014
North American Segment [Member]
Revenue, Net										$ 130,108,000		$ 137,085,000		$ 129,287,000
Operating income										(8,311,000)		13,353,000		11,231,000
Asset impairment										(4,114,000)
Capital expenditures										5,040,000		3,449,000		3,116,000
Depreciation and amortization										4,537,000		5,604,000		5,948,000
Current assets	[1]	$ 33,787,000				$ 41,240,000				33,787,000		41,240,000		40,716,000
Long-lived assets	[2]	36,539,000				40,506,000				36,539,000		40,506,000		43,127,000
International Segment [Member]
Revenue, Net										79,577,000		104,465,000		117,847,000
Operating income										(3,117,000)		1,333,000		7,831,000
Asset impairment
Capital expenditures										3,200,000		2,251,000		5,720,000
Depreciation and amortization										2,677,000		3,113,000		3,410,000
Current assets	[1]	62,810,000				68,656,000				62,810,000		68,656,000		75,193,000
Long-lived assets	[2]	13,995,000				14,066,000				13,995,000		14,066,000		19,203,000
Unallocated [Member]
Revenue, Net
Operating income										(9,017,000)		(6,083,000)		(7,147,000)
Asset impairment
Capital expenditures
Depreciation and amortization
Current assets	[1]	24,314,000				23,517,000				24,314,000		23,517,000		30,993,000
Long-lived assets	[2]	30,153,000				24,287,000				30,153,000		24,287,000		22,211,000
Revenue, Net		54,647,000	$ 50,329,000	$ 53,671,000	$ 51,038,000	61,441,000	$ 56,116,000	$ 63,821,000	$ 60,172,000	209,685,000	[3]	241,550,000	[4]	247,134,000	[5]
Operating income										(20,445,000)		8,603,000		11,915,000
Asset impairment										(4,114,000)
Capital expenditures										8,240,000		5,700,000		8,836,000
Depreciation and amortization										7,214,000		8,717,000		9,358,000
Current assets	[1]	120,911,000				133,413,000				120,911,000		133,413,000		146,902,000
Long-lived assets	[2]	$ 80,687,000				$ 78,859,000				$ 80,687,000		$ 78,859,000		$ 84,541,000
[1]	Current assets primarily consist of accounts receivable, inventories and prepaid expenses. Assets not allocated to the segments include cash and cash equivalents, deferred income taxes, and other non-current assets.
[2]	Long lived assets consist of property, plant and equipment, goodwill, and other intangible assets. Long term deferred and other tax assets not allocated to the segments.
[3]	Excludes $8,259 of North American segment sales to the International segment and $9,282 sales of the International segment to the North American segment.
[4]	Excludes $12,276 of North American segment sales to the International segment and $9,842 sales of the International segment to the North American segment.
[5]	Excludes $17,692 of North American segment sales to the International segment and $8,585 sales of the International segment to the North American segment.

Note 17 - Geographic Sales and

Note 17 - Geographic Sales and Long-Lived Assets (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2016		Jun. 30, 2015		Jun. 30, 2014
UNITED STATES
Revenue, Net									$ 119,638		$ 125,534		$ 117,249
Long-lived assets	$ 36,189				$ 40,146				36,189		40,146		42,740
North America Other than US [Member]
Revenue, Net									10,470		11,551		12,038
Long-lived assets	350				360				350		360		387
North America [Member]
Revenue, Net									130,108		137,085		129,287
Long-lived assets	36,539				40,506				36,539		40,506		43,127
BRAZIL
Revenue, Net									43,283		63,961		74,478
Long-lived assets	8,818				7,986				8,818		7,986		12,334
UNITED KINGDOM
Revenue, Net									24,485		26,691		28,322
Long-lived assets	2,143				2,647				2,143		2,647		3,093
CHINA
Revenue, Net									7,207		8,357		9,322
Long-lived assets	2,887				3,291				2,887		3,291		3,558
Australia and New Zealand [Member]
Revenue, Net									4,602		5,456		5,725
Long-lived assets	147				142				147		142		218
International [Member]
Revenue, Net									79,577		104,465		117,847
Long-lived assets	13,995				14,066				13,995		14,066		19,203
Revenue, Net	54,647	$ 50,329	$ 53,671	$ 51,038	61,441	$ 56,116	$ 63,821	$ 60,172	209,685	[1]	241,550	[2]	247,134	[3]
Long-lived assets	$ 50,534				$ 54,572				$ 50,534		$ 54,572		$ 62,330
[1]	Excludes $8,259 of North American segment sales to the International segment and $9,282 sales of the International segment to the North American segment.
[2]	Excludes $12,276 of North American segment sales to the International segment and $9,842 sales of the International segment to the North American segment.
[3]	Excludes $17,692 of North American segment sales to the International segment and $8,585 sales of the International segment to the North American segment.

Note 18 - Quarterly Financial80

Note 18 - Quarterly Financial Data (Unaudited) (Details Textual) $ in Millions	3 Months Ended
	Jun. 30, 2016USD ($)
Result of Unfavorable Exchange Rates [Member]
Decrease in Net Sales from Prior Period	$ 2.6
Precision Hand Tool and Saw Sales Decline [Member]
Decrease in Net Sales from Prior Period	4.4
Decrease in Gross Margin From Prior Period	2.1
Decrease as Result of Pension Increases [Member]
Decrease in Gross Margin From Prior Period	14.2
Decrease in Net Sales from Prior Period	6.8
Decrease in Gross Margin From Prior Period	$ 16.3

Note 18 - Quarterly Financial81

Note 18 - Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2016		Jun. 30, 2015		Jun. 30, 2014
Net Sales	$ 54,647	$ 50,329	$ 53,671	$ 51,038	$ 61,441	$ 56,116	$ 63,821	$ 60,172	$ 209,685	[1]	$ 241,550	[2]	$ 247,134	[3]
Gross Margin	404	14,733	15,999	15,852	16,694	18,694	22,164	19,143	46,988		76,695		81,096
Earnings Before Income Taxes	(23,048)	1,199	992	482	370	3,508	4,323	1,741	(20,375)		9,942		12,057
Net Earnings / (Loss)	$ (15,007)	$ 597	$ 458	$ (178)	$ (563)	$ 2,437	$ 2,447	$ 923	$ (14,130)		$ 5,244		$ 6,712
Basic and Diluted Earnings / (Loss) Per Share (in dollars per share)	$ (2.14)	$ 0.09	$ 0.07	$ (0.03)	$ (0.08)	$ 0.35	$ 0.35	$ 0.13	$ (2.01)		$ 0.75
[1]	Excludes $8,259 of North American segment sales to the International segment and $9,282 sales of the International segment to the North American segment.
[2]	Excludes $12,276 of North American segment sales to the International segment and $9,842 sales of the International segment to the North American segment.
[3]	Excludes $17,692 of North American segment sales to the International segment and $8,585 sales of the International segment to the North American segment.

Note 19 - Related Party Trans82

Note 19 - Related Party Transactions (Details Textual) - Armco do Brasil S.A. [Member] - USD ($)	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Related Party Transaction, Purchases from Related Party	$ 3,200,000	$ 4,100,000	$ 3,700,000
Accounts Payable, Related Parties	$ 0	$ 100,000

Schedule II - Valuation and Q83

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Valuation Allowance of Deferred Tax Assets [Member]
Balance at Beginning of Period	$ 4,501	$ 3,334	$ 4,539
Provisions	1,193	1,242	302
Charges to Other Accounts	(344)	(24)	(355)
Write-offs	(104)	(51)	(1,152)
Balance at End of Period	5,246	4,501	3,334
Allowance for Doubtful Accounts [Member]
Balance at Beginning of Period	612	704	697
Provisions	352	179	27
Charges to Other Accounts	(2)	(163)	27
Write-offs	(75)	(108)	(47)
Balance at End of Period	$ 887	$ 612	$ 704