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INCOME TAXES (Tables) | 12 Months Ended
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Jun. 30, 2018
Income Tax Disclosure [Abstract] |
Schedule of provision (benefit) for income taxes | The provision (benefit) for income taxes from continuing operations consists of the following amounts (in thousands):
|  | Years Ended June 30, |
|  | 2018 |  |  | 2017 |
Current: |  |  |  |  |  |
Federal |  | $ | 579 |  |  | $ | 34 |
State |  |  | 19 |  |  |  | 40 |
Deferred: |  |  |  |  |  |  |  |
Federal |  |  | 247 |  |  |  | (1,263 | )
State |  |  | 144 |  |  |  | (900 | )
Income tax expense (benefit) |  | $ | 989 |  |  | $ | (2,089 | )
Schedule of reconciliation federal statutory income tax rates | The effective income tax rate from income (loss) from continuing operations differs from the United States statutory income tax rates for the reasons set forth in the table below (in thousands, except percentages).
|  | Years Ended June 30, |
|  | 2018 |  |  | 2017 |
|  | Amount |  |  | Percent Pretax Income |  |  | Amount |  |  | Percent Pretax Income |
Income (loss) from continuing operations before income taxes |  | $ | 2,610 |  |  |  | 100 | % |  | $ | 2,752 |  |  |  | 100 | %
Computed “expected” income tax expense (benefit) on income (loss) from continuing operations before income taxes |  | $ | 719 |  |  |  | 28 | % |  | $ | 936 |  |  |  | 34 | %
State tax, net of federal benefit |  |  | 73 |  |  |  | 3 | % |  |  | 270 |  |  |  | 10 | %
Tax incentives |  |  | (47 | ) |  |  | (2 | %) |  |  | (36 | ) |  |  | (1 | %)
Change in valuation allowance |  |  | 202 |  |  |  | 8 | % |  |  | (3,252 | ) |  |  | (118 | %)
Tax law changes |  |  | 119 |  |  |  | 5 | % |  |  | — |  |  |  | — |
Domestic production deduction |  |  | (84 | ) |  |  | (4 | %) |  |  | — |  |  |  | — |
Other |  |  | 7 |  |  |  | — |  |  |  | (7 | ) |  |  | (1 | %)
Income tax expense (benefit) |  | $ | 989 |  |  |  | 38 | % |  | $ | (2,089 | ) |  |  | (76 | %)
Schedule of deferred income tax assets and liabilities | Significant components of our deferred tax assets and liabilities for federal and state income taxes are as follows (in thousands):
|  | June 30, |
|  | 2018 |  |  | 2017 |
Deferred tax assets: |  |  |  |  |  |
Federal & State NOL carryforward |  | $ | 23 |  |  | $ | 181 |
Research & other credits |  |  | 1,517 |  |  |  | 1,832 |
Reserves and accruals |  |  | 438 |  |  |  | 180 |
Stock based compensation |  |  | 55 |  |  |  | — |
Inventory |  |  | 371 |  |  |  | 446 |
Other intangibles |  |  | 70 |  |  |  | 178 |
Goodwill |  |  | — |  |  |  | 77 |
Other |  |  | 48 |  |  |  | 1 |
Total gross deferred tax assets |  | $ | 2,522 |  |  | $ | 2,895 |
Less: valuation allowance |  |  | (368 | ) |  |  | (89 | )
Total deferred tax assets |  |  | 2,154 |  |  |  | 2,806 |
|  | June 30, |
|  | 2018 |  |  | 2017 |
Deferred tax liabilities: |  |  |  |  |  |
Property and equipment, principally due to differing depreciation methods |  | $ | (318 | ) |  | $ | (438 | )
Deferred state tax |  |  | (152 | ) |  |  | (295 | )
Other intangibles |  |  | — |  |  |  | (2 | )
Other |  |  | (6 | ) |  |  | (23 | )
Total gross deferred tax liabilities |  |  | (476 | ) |  |  | (758 | )
Net deferred tax assets |  | $ | 1,678 |  |  | $ | 2,048 |
Schedule of accrual unrecognized tax benefits | Information with respect to our accrual for unrecognized tax benefits is as follows (in thousands):
|  | June 30, |
|  | 2018 |  |  | 2017 |
Unrecognized tax benefits: |  |  |  |  |  |
Beginning balance |  | $ | 446 |  |  | $ | 446 |
Additions based on federal tax positions related to the current year |  |  | 16 |  |  |  | 18 |
Additions based on state tax positions related to the current year |  |  | — |  |  |  | — |
Additions for tax positions of prior years |  |  | — |  |  |  | 1 |
Reductions for tax positions of prior years |  |  | — |  |  |  | (19 | )
Ending balance |  | $ | 462 |  |  | $ | 446 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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