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Foreign Operations
9 Months Ended
Mar. 31, 2017
Foreign Currency [Abstract]  
Foreign Operations

8. 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. 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. The foreign exchange translation adjustment reflects a net gain of approximately $113,000 for the nine months ended March 31, 2017 and a gain of approximately $47,000 for the nine months ended March 31, 2016. As of March 31, 2017, we had approximately $17,993,000 in assets and $16,226,000 in net assets located in China and Latvia. As of June 30, 2016, we had approximately $11,311,000 in assets and $9,942,000 in net assets located in China.