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Note 12 - Income Taxes
 9 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Income Tax Disclosure [Text Block]

12)     Income Taxes

 

The Company's effective tax rate from continuing operations for the third quarter of fiscal year 2025 and for the first nine months of fiscal year 2025 was (29.6%) and 1.1% compared with 21.4% and 22.5% for the prior year quarter and prior year period, respectively.

The tax rate was impacted for the third quarter of fiscal year 2025 and for the first nine months of fiscal year 2025 by the following items: (i) a discrete tax benefit related to the release of a previously recorded tax reserve for a one-time tax charge on historical foreign earnings, as the relevant statute of limitations expired during the quarter, (ii) the jurisdictional mix of earnings, (iii) foreign withholding taxes and (iv) federal research and development tax credits.



The tax rate was impacted in the prior year quarter and prior year period, respectively by the following items: (i) a discrete tax expense related to provision to return adjustments associated with federal research and development tax credits and the limitation on executive compensation, (ii) the jurisdictional mix of earnings and (iii) a discrete tax benefit related to foreign withholding taxes.