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Foreign Operations
 12 Months Ended
Jun. 30, 2020
Foreign Currency [Abstract]  
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, which was a cumulative gain of approximately $736,000 and $809,000 as of June 30, 2020 and 2019, respectively. During the years ended June 30, 2020 and 2019, we also recognized net foreign currency transaction losses of approximately $214,000 and $436,000, respectively, included in the Consolidated Statements of Comprehensive Income (Loss) in the line item entitled “Other income (expense), net.”

 

 

Assets and net assets in foreign countries are as follows:

 

    China   Latvia
    June 30, 2020   June 30, 2019   June 30, 2020   June 30, 2019
Assets    $19.0 million    $16.9 million    $9.8 million    $8.2 million
Net assets    $16.2 million    $14.5 million    $8.2 million    $7.8 million