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Stockholders' Equity
 6 Months Ended
Dec. 31, 2016
Equity [Abstract]  
Stockholders' Equity

10. Stockholders’ Equity

Stock Repurchases

In November 2016, the Board of Directors authorized a stock repurchase program allowing the Company to repurchase up to 750,000 outstanding shares of its common stock with an expiration date of November 2017. During the three months ended December 31, 2016, the Company repurchased and retired 344,023 shares of its common stock at a weighted average price of $3.00 per share, excluding a broker commission of $0.03 per share, at a total cost of $1.0 million. Repurchases under this program took place in the open market and were made under a Rule 10b5-1 plan. The Company’s accounting policy upon the retirement of treasury stock is to deduct its par value from common stock and reduce additional paid-in capital by the amount recorded in additional paid-in capital when the stock was originally issued.