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Note 14 - Income Taxes	9 Months Ended
Mar. 31, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	14) Income Taxes The Company's effective tax rate from continuing operations for the third quarter of the fiscal year ending June 30, 2021 was 56.3% compared with 21.6% for the prior year quarter. The tax rate was impacted in the current period by the following items: (i) reduction of global intangible low-taxed income, (ii) the jurisdictional mix of earnings and (iii) the establishment of a valuation allowance against our deferred tax asset attributable to the divestiture of Enginetics Corporation during the quarter. The divestiture of Enginetics Corporation gave rise to a capital loss carryforward, which, if unused, will expire after 5 years. The Company's effective tax rate from continuing operations for the first nine months of the fiscal year ending June 30, 2021 was 25.3% compared with 22.7% for the prior year period. The tax rate was impacted in the current period by the following items: (i) reduction of global intangible low-taxed income, (ii) increased capacity to utilize foreign tax credits, (iii) a benefit due to the carryback of losses generated in the fiscal year ending June 30, 2019, (iv) the jurisdictional mix of earnings and (v) the establishment of a valuation allowance against our deferred tax asset attributable to the divestiture of Enginetics Corporation.

Note 14 - Income Taxes

9 Months Ended

Mar. 31, 2021

14) Income Taxes

The Company's effective tax rate from continuing operations for the third quarter of the fiscal year ending June 30, 2021 was 56.3% compared with 21.6% for the prior year quarter. The tax rate was impacted in the current period by the following items: (i) reduction of global intangible low-taxed income, (ii) the jurisdictional mix of earnings and (iii) the establishment of a valuation allowance against our deferred tax asset attributable to the divestiture of Enginetics Corporation during the quarter. The divestiture of Enginetics Corporation gave rise to a capital loss carryforward, which, if unused, will expire after 5 years.

The Company's effective tax rate from continuing operations for the first nine months of the fiscal year ending June 30, 2021 was 25.3% compared with 22.7% for the prior year period. The tax rate was impacted in the current period by the following items: (i) reduction of global intangible low-taxed income, (ii) increased capacity to utilize foreign tax credits, (iii) a benefit due to the carryback of losses generated in the fiscal year ending June 30, 2019, (iv) the jurisdictional mix of earnings and (v) the establishment of a valuation allowance against our deferred tax asset attributable to the divestiture of Enginetics Corporation.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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