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Note 3 - Revenue From Contracts With Customers

9 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

3)     Revenue From Contracts With Customers

Most of the Company’s contracts have a single performance obligation which represents the product or service being sold to the customer. Some contracts include multiple performance obligations such as a product and the related installation and/or extended warranty. Additionally, most of the Company’s contracts offer assurance type warranties in connection with the sale of a product to customers. Assurance type warranties provide a customer with assurance that the product complies with agreed-upon specifications. Assurance type warranties do not represent a separate performance obligation.

In general, the Company recognizes revenue at the point in time control transfers to its customer based on predetermined shipping terms. Revenue is recognized over time under certain long-term contracts within the Engineering Technologies and Engraving segments for highly customized customer products that have no alternative use and in which the contract specifies the Company has a right to payment for its costs, plus a reasonable margin. For products manufactured over time, the transfer of control is measured pro rata, based upon current estimates of costs to complete such contracts. Losses on contracts are fully recognized in the period in which the losses become determinable. Revisions in profit estimates are reflected on a cumulative basis in the period in which the basis for such revision becomes known.

Disaggregation of Revenue from Contracts with Customers

The following table presents revenue from disaggregated by product line and segment (in thousands):

		Three Months Ended
Revenue by Product Line		March 31, 2025				March 31, 2024
Electronics		$	111,283			$	80,431
Engraving Services			27,727				33,011
Engraving Products			2,858				3,286
Total Engraving			30,585				36,297
Scientific			18,292				16,925
Engineering Technologies			27,375				20,098
Hydraulics Cylinders and Systems			13,230				14,800
Merchandising & Display			7,015				8,716
Total Specialty Solutions			20,245				23,516
Total revenue by product line		$	207,780			$	177,267

		Nine Months Ended
Revenue by Product Line		March 31, 2025				March 31, 2024
Electronics		$	284,939			$	241,538
Engraving Services			86,391				110,214
Engraving Products			9,011				7,722
Total Engraving			95,402				117,936
Scientific			54,462				51,410
Engineering Technologies			70,555				58,205
Hydraulics Cylinders and Systems			36,920				41,410
Merchandising & Display			25,780				29,942
Total Specialty Solutions			62,700				71,352
Total revenue by product line		$	568,058			$	540,441

The following table presents revenue from continuing operations disaggregated by geography based on the Company’s locations (in thousands):

		Three Months Ended				Three Months Ended				Nine Months Ended				Nine Months Ended
Net sales		March 31, 2025				March 31, 2024				March 31, 2025				March 31, 2024
United States		$	120,956			$	107,805			$	333,224			$	332,473
Asia Pacific			53,244				32,139				140,645				96,290
EMEA (1)			31,452				34,438				87,090				100,538
Other Americas			2,128				2,885				7,099				11,140
Total		$	207,780			$	177,267			$	568,058			$	540,441

_⁽¹⁾   EMEA consists primarily of Europe, Middle East and S. Africa. 

The following table presents revenue from continuing operations disaggregated by timing of recognition (in thousands):

		Three Months Ended
Timing of Revenue Recognition		March 31, 2025				March 31, 2024
Products and services transferred at a point in time		$	187,228			$	157,866
Products transferred over time			20,552				19,401
Net sales		$	207,780			$	177,267

		Nine Months Ended
Timing of Revenue Recognition		March 31, 2025				March 31, 2024
Products and services transferred at a point in time		$	508,949			$	485,295
Products transferred over time			59,109				55,146
Net sales		$	568,058			$	540,441

Contract Balances

Contract assets represent sales recognized in excess of billings related to work completed but not yet shipped for which revenue is recognized over time. Contract assets are recorded as prepaid expenses and other current assets. Contract liabilities are customer deposits for which revenue has not been recognized. Current contract liabilities are recorded as accrued liabilities.

The timing of revenue recognition, invoicing and cash collections results in billed receivables, contract assets and contract liabilities on the consolidated balance sheets. When consideration is received from a customer prior to transferring goods or services to the customer under the terms of a contract, a contract liability is recorded. Contract liabilities are recognized as revenue after control of the goods and services are transferred to the customer and all revenue recognition criteria have been met.

The following table provides information about contract assets and liability balances (in thousands):

		June 30, 2024				Additions				Deductions				March 31, 2025
Nine months ended March 31, 2025
Contract assets:
Prepaid expenses and other current assets		$	45,393			$	52,798			$	39,779			$	58,412
Contract liabilities:
Customer deposits			1,766				2,667				2,920				1,513

		June 30, 2023				Additions				Deductions				March 31, 2024
Nine months ended March 31, 2024
Contract assets:
Prepaid expenses and other current assets		$	31,138			$	53,394			$	45,274			$	39,258

We recognized the following revenue which was included in the contract liability beginning balances (in thousands):

		March 31, 2025				March 31, 2025
Revenue recognized in the period from:		Three months ended				Nine months ended
Amounts included in the contract liability balance at the beginning of the period		$	-			$	1,766

		March 31, 2024				March 31, 2024
Revenue recognized in the period from:		Three months ended				Nine months ended
Amounts included in the contract liability balance at the beginning of the period		$	-			$	-

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- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
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-URI https://asc.fasb.org/606/tableOfContent

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