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v3.23.1

Note G - Economic Dependency | 9 Months Ended
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Mar. 31, 2023
Notes to Financial Statements |
Concentration Risk Disclosure [Text Block] | G. Economic Dependency We had substantial net sales to certain customers during the periods shown in the following table. The loss of any of these customers, or a significant decline in (i) sales to these customers, (ii) the growth rate of sales to these customers, or (iii) these customers’ ability to make payments when due, each individually 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 period's consolidated net sales were as follows (in thousands):
|  | Three Months Ended March 31, |  |  | Nine Months Ended March 31, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Customer 1 |  | $ | 15,962 |  |  | $ | 10,673 |  |  | $ | 46,948 |  |  | $ | 19,795 |
Customer 2 |  |  | 9,558 |  |  |  | 13,846 |  |  |  | 38,823 |  |  |  | 40,110 |
Customer 3 |  | (a | ) |  |  | 6,773 |  |  | (a | ) |  |  | 22,761 |
|  | $ | 25,520 |  |  | $ | 31,292 |  |  | $ | 85,771 |  |  | $ | 82,666 |
(a) | Sales were less than 10% of the respective period’s total net sales.
Accounts receivable from these customers totaled $5.2 million at March 31, 2023 and $10.7 million at June 30, 2022. We buy certain products, including beta-alanine, from a limited number of raw material suppliers who meet our quality standards. The loss of any of these 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):
|  | Three Months Ended March 31, |  |  | Nine Months Ended March 31, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Supplier 1 |  | $ | 3,916 |  |  |  | 2,946 |  |  | $ | 11,394 |  |  |  | 10,800 |
|  | $ | 3,916 |  |  |  | 2,946 |  |  | $ | 11,394 |  |  |  | 10,800 |

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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 -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//275/tableOfContent + Details
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