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Income Taxes (Tables)

12 Months Ended

Jun. 30, 2014

Income Tax Disclosure [Abstract]

Schedule of sources of pretax income

The sources of pretax income are as follows:

		Twelve Months Ended
		June 30, 2014				June 30, 2013				June 30, 2012
		(In thousands)
Domestic		$	60,129			$	37,876			$	27,346
Foreign		(3,318		)		(1,960		)		3,144
Total		$	56,811			$	35,916			$	30,490

Components of the provision for income taxes

The components of the provision for income taxes are as follows:

		Twelve Months Ended
		June 30, 2014				June 30, 2013				June 30, 2012
		(In thousands)
Current:
Federal		$	19,870			$	8,260			$	11,320
State		3,117				1,268				1,129
Foreign		613				449				762
		23,600				9,977				13,211
Deferred:
Federal		(3,951		)		1,801				(151		)
State		(51		)		126				283
Foreign		336				4				(41		)
		(3,666		)		1,931				91
		$	19,934			$	11,908			$	13,302

Difference between expected income tax provision applying domestic federal statutory tax rate and reported income tax provision

The difference between the expected income tax provision applying the domestic federal statutory tax rate and the reported income tax provision is as follows:

		Twelve Months Ended
		June 30, 2014				June 30, 2013				June 30, 2012
		(In thousands)
Expected provision for Federal income taxes at the statutory rate		$	19,887			$	12,570			$	10,670
State income taxes, net of Federal benefit		2,275				1,252				970
Charges without tax benefit		1,405				1,231				1,004
Change in valuation allowance		—				(140		)		(544		)
Cumulative non-deductible expenses		—				—				2,139
IRC S199 deduction		(1,546		)		(844		)		(687		)
Research & Development Credit		(1,793		)		(1,450		)		—
Foreign tax differential		(182		)		(160		)		—
Other		(112		)		(551		)		(250		)
Provision for income taxes		$	19,934			$	11,908			$	13,302

Significant components of Company's deferred tax assets and liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows:

		June 30, 2014				June 30, 2013
		(In thousands)
Deferred tax assets:
Warranty reserve		$	234			$	—
Bad debt reserve		80				310
Paid-time-off accrual		712				602
Insurance reserve		2,519				2,227
Legal reserve		356				462
Net operating loss benefit and credit carryforwards		4,061				3,885
Valuation allowance		(90		)		(90		)
Accrued compensation and pension		2,187				850
Stock compensation expense on nonvested deferred shares		1,969				943
Accrued losses		1,488				232
Other—net		314				204
Total deferred tax assets		13,830				9,625
Deferred tax liabilities:
Tax over book depreciation		8,537				9,064
Tax over book amortization		1,903				1,137
Prepaid insurance		2,104				1,217
Other—net		459				—
Total deferred tax liabilities		13,003				11,418
Net deferred tax asset (liability)		$	827			$	(1,793	)

Significant components of Company's deferred tax assets and liabilities as reported in consolidated balance sheets

As reported in the consolidated balance sheets:

		June 30, 2014				June 30, 2013
		(In thousands)
Current deferred tax assets		$	5,994			$	5,657
Non-current deferred tax liabilities		(5,167		)		(7,450		)
Net deferred tax asset (liability)		$	827			$	(1,793	)

Summary of Operating Loss Carryforwards

These carryforwards will generally expire as shown below:

Item	Expiration Period
State net operating losses	June 2023 to June 2030
State tax credits	No expiration
Federal foreign tax credits	June 2016 to June 2024
Foreign net operating losses	June 2027 to June 2034
Foreign tax credits	June 2033

Summary of Tax Credit Carryforwards

These carryforwards will generally expire as shown below:

Item	Expiration Period
State net operating losses	June 2023 to June 2030
State tax credits	No expiration
Federal foreign tax credits	June 2016 to June 2024
Foreign net operating losses	June 2027 to June 2034
Foreign tax credits	June 2033

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