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Foreign Operations
12 Months Ended
Jun. 30, 2017
Foreign Currency [Abstract]  
Foreign Operations

15.       Foreign Operations

 

Assets and liabilities denominated in non-U.S. currencies are translated at rates of exchange prevailing on the balance sheet date, and revenues and expenses are translated at average rates of exchange for the period. During the years ended June 30, 2017 and 2016, we recognized a gain of $78,000 and a loss of $370,000 on foreign currency translation, respectively, included in the consolidated statements of comprehensive income in the line item entitled “Other income (expense), net.” Gains or losses on the translation of the financial statements of a non-U.S. operation, where the functional currency is other than the U.S. dollar, are reflected as a separate component of equity, which was a gain of $295,396 and $126,108 at June 30, 2017 and 2016, respectively. The Company, as of June 30, 2017, had approximately $14.0 in assets and $12.3 in net assets located in China. The Company, as of June 30, 2016, had approximately $11.3 million in assets and $9.9 million in net assets located in China. The Company also had $6.1 in assets and $6.0 in net assets located in Latvia as of June 30, 2017.