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Stockholders' Equity
 9 Months Ended
Mar. 31, 2021
Equity [Abstract]  
Stockholders' Equity

13. Stockholders’ Equity

Stock Repurchases

In July 2017, the Board of Directors authorized a stock repurchase program to repurchase up to 905,000 outstanding shares of its common stock. In October 2017, the Board of Directors increased the number of outstanding shares that may be repurchased to 966,000 shares. There were no repurchases made during fiscal year 2020 and the three and nine months ended March 31, 2021. As of March 31, 2021, the number of shares that remains available for repurchase is 903,636 shares.

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.