Annual report pursuant to Section 13 and 15(d)

Note 11 - Income Taxes (Tables)

v2.4.0.8
Note 11 - Income Taxes (Tables)
12 Months Ended
Jun. 30, 2013
Note 11 - Income Taxes (Tables) [Line Items]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
   

2013

   

2012

   

2011

 

Current:

                       

Federal

  $ 13,305     $ 13,086     $ (4,428 )

State

    1,822       (1,433 )     1,505  

Foreign

    125       57       107  

Total current

    15,252       11,710       (2,816 )

Deferred:

                       

Federal

    1,798       (20,896 )     (1,432 )

State

    669       591       1,369  

Foreign

    (23 )     140       -  

Total deferred

    2,444       (20,165 )     (63 )

Income tax expense (benefit)

  $ 17,696     $ (8,455 )   $ (2,879 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Expected income tax expense

  $ 17,561       35.0 %   $ 14,434       35.0 %   $ 9,228       35.0 %

State income taxes, net of federal income tax

    1,467       2.9 %     1,038       2.5 %     750       2.8 %

Valuation allowance

    631       1.3 %     (21,237 )     -51.5 %     (12,672 )     -48.1 %

Section 199 Qualified Production Activities deduction

    (1,157 )     -2.3 %     (1,001 )     -2.4 %     (705 )     -2.7 %

Unrecognized tax expense (benefit)

    30       0.1 %     (1,483 )     -3.6 %     490       1.9 %

Other, net

    (836 )     -1.7 %     (206 )     -0.5 %     30       0.1 %

Actual income tax expense (benefit)

  $ 17,696       35.3 %   $ (8,455 )     -20.5 %   $ (2,879 )     -10.9 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
   

2013

   

2012

 

Deferred tax assets:

               

Accounts receivable

  $ 463     $ 470  

Employee compensation accruals

    5,057       6,321  

Stock based compensation

    2,342       2,617  

Deferred rent credits

    5,071       5,283  

Restructuring charges

    622       526  

Net operating loss carryforwards

    3,592       3,066  

Goodwill

    5,020       6,251  

Other, net

    3,053       3,829  

Total deferred tax assets

    25,220       28,363  

Less: Valuation allowance

    (2,948 )     (2,317 )

Net deferred tax assets

    22,272       26,046  
                 

Deferred tax liabilities:

               

Inventories

    775       2,068  

Property, plant and equipment

    1,121       536  

Intangible assets other than goodwill

    14,264       14,264  

Commissions

    3,590       3,880  

Other, net

    20       22  

Total deferred tax liability

    19,770       20,770  

Net deferred tax asset

  $ 2,502     $ 5,276  
Schedule Of Deferred Tax Assets Expiration With Respect To Net Operating Losses [Table Text Block]
   

Deferred

Income

Tax Assets

   

Net Operating

Loss

Carryforwards

 

United States (State), expiring between 2013 and 2032

  $ 2,398     $ 51,808  

Foreign, Expiring between 2029 and 2030

    1,194       3,880  
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]
   

2013

   

2012

 

Beginning balance

  $ 7,369     $ 11,027  

Additions for tax positions taken

    1,227       1,074  

Reductions for tax positions of prior years

    (1,351 )     (3,543 )

Settlements

    (402 )     (1,189 )

Ending balance

  $ 6,843     $ 7,369  
Other Assets [Member]
 
Note 11 - Income Taxes (Tables) [Line Items]  
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
   

2013

   

2012

 

Current assets

  $ 2,876     $ 2,147  

Non-current assets

    251       3,129  

Current liabilities

    -       -  

Non-current liabilities

    625       -  

Total net deferred tax asset

  $ 2,502     $ 5,276