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Note K - Economic Dependency | 12 Months Ended
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Jun. 30, 2022
Notes to Financial Statements |
Concentration Risk Disclosure [Text Block] | K. Economic Dependency We had substantial net sales to certain customers during the fiscal years ended June 30 shown in the following table. The loss of any of these customers, or a significant decline in sales or the growth rate of sales to these customers, or in their ability to make payments when due, could have a material adverse impact on our net sales and net income. Net sales to any one customer representing 10% or more of the respective year’s consolidated net sales were as follows (dollars in thousands):
|  | Fiscal 2022 |  |  | Fiscal 2021 |
Customer 1 |  | $ | 54,599 |  |  | $ | 90,820 |
Customer 2 |  |  | 37,218 |  |  | (a) |
Customer 3 |  |  | 31,552 |  |  |  | 25,410 |
|  | $ | 123,369 |  |  | $ | 116,230 |
| (a) | Sales were less than 10% of the respective period’s consolidated net sales.
Accounts receivable from these customers totaled $10.7 million at June 30, 2022 and $14.0 million at June 30, 2021. We buy certain products, including beta-alanine, from a single supplier. The loss of this supplier or other raw material suppliers could have a material adverse impact on our net sales and net income. Raw material purchases from any one supplier representing 10% or more of the respective period’s total raw material purchases were as follows (dollars in thousands):
|  | Year ended June 30, |
|  | 2022 |  |  | 2021 |
|  | Raw Material Purchases by Supplier |  |  | % of Total Raw Material Purchases |  |  | Raw Material Purchases by Supplier |  |  | % of Total Raw Material Purchases |
Supplier 1 |  | $ | 14,065 |  |  |  | 17 | % |  | $ | 23,033 |  |  |  | 24 | %
|  | $ | 14,065 |  |  |  | 17 | % |  | $ | 23,033 |  |  |  | 24 | %

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI https://asc.fasb.org/topic&trid=2134479 + Details
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