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Income Taxes
 3 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes

NOTE 13 – INCOME TAXES

The components of income tax expense are as follows:

 

Three Months Ended September 30,

 

(In thousands)

2025

 

 

2024

 

Current income tax expense (benefit)

$

(93

)

 

$

906

 

Deferred income tax expense

 

432

 

 

 

239

 

 

 

 

 

 

 

Income tax expense

$

339

 

 

$

1,145

 

 

The Company’s effective tax rate is 26.3% and 25.8% for the three months ended September 30, 2025 and 2024, respectively. Income tax expense for the three months ended September 30, 2025 is higher than the U.S. federal statutory rate due to jurisdictional mix of federal and state taxes. Income tax expense for the three months ended September 30, 2024 is higher than the U.S. federal statutory rate due to jurisdictional mix of federal, state and foreign income taxes, and reduced by share-based compensation, which was discretely recognized and was not a component of the Company’s annualized forecasted effective tax rate. The Company does not have any uncertain tax positions.