View Filing Data

Document And Entity Information	3 Months Ended
Document And Entity Information	Sep. 30, 2012 shares
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2012
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	FY
Entity Registrant Name	FLEXSTEEL INDUSTRIES INC
Entity Central Index Key	0000037472
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding	7,006,029
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
ASSETS
Cash	$ 6,528	$ 13,970
Trade receivables - less allowance for doubtful accounts: 2012, $0; 2011, $2,000	35,791	33,601
Inventories	85,540	82,689
Deferred income taxes	3,920	3,750
Other	1,902	1,583
Total current assets	133,681	135,593
NONCURRENT ASSETS:
Property, plant and equipment, net	33,241	29,867
Deferred income taxes	2,965	3,160
Other assets	13,407	13,052
TOTAL	183,294	181,672
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable - trade	12,838	12,973
Accrued liabilities:
Payroll and related items	5,929	8,037
Insurance	4,526	4,440
Other	7,637	6,399
Total current liabilities	30,930	31,849
LONG-TERM LIABILITIES:
Deferred compensation	5,961	5,613
Other liabilities	4,484	4,768
Total liabilities	41,375	42,230
SHAREHOLDERS' EQUITY:
Cumulative preferred stock - $50 par value; authorized 60,000 shares; outstanding - none
Undesignated (subordinated) stock - $1 par value; authorized 700,000 shares; outstanding - none
Common stock - $1 par value; authorized 15,000,000 shares; outstanding 2012, 0,000,000 shares; 2011, 6,710,612 shares	7,006	6,906
Additional paid-in capital	8,960	8,476
Retained earnings	127,520	125,699
Accumulated other comprehensive loss	(1,567)	(1,639)
Total shareholders' equity	141,919	139,442
TOTAL	$ 183,294	$ 181,672

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
Consolidated Balance Sheets [Abstract]
Trade receivables, allowance for doubtful accounts	$ 1,920	$ 1,910
Cumulative Preferred stock, par value	$ 50	$ 50
Cumulative Preferred stock, authorized	60,000	60,000
Cumulative Preferred stock, outstanding	0	0
Undesignated (subordinated) stock, par value	$ 1	$ 1
Undesignated (subordinated) stock, authorized	700,000	700,000
Undesignated (subordinated) stock, outstanding	0	0
Common stock, par value	$ 1	$ 1
Common stock, authorized	15,000,000	15,000,000
Common stock, outstanding	7,006,029	6,905,534

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Consolidated Statements Of Operations [Abstract]
NET SALES	$ 91,237	$ 81,520
COST OF GOODS SOLD	(70,136)	(62,556)
GROSS MARGIN	21,101	18,964
SELLING, GENERAL AND ADMINISTRATIVE	(16,710)	(15,331)
OPERATING INCOME (LOSS)	4,391	3,633
OTHER INCOME (EXPENSE):
Interest and other income	161	125
INCOME (LOSS) BEFORE INCOME TAXES	4,552	3,758
INCOME TAX (PROVISION) BENEFIT	(1,680)	(1,380)
NET INCOME (LOSS)	$ 2,872	$ 2,378
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic	6,938	6,727
Diluted	7,241	6,969
EARNINGS (LOSS) PER SHARE OF COMMON STOCK:
Basic	$ 0.41	$ 0.35
Diluted	0.40	0.34
CASH DIVIDENDS DECLARED PER COMMON SHARE	$ 0.15	$ 0.10

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Comprehensive Income (Loss) [Abstract]
Net income	$ 2,872	$ 2,378
Unrealized (losses) gains on securities	115	(466)
Income tax benefit (expense) related to securities gains	(44)	177
Other comprehensive (loss) income, net of tax	71	(289)
Comprehensive income	$ 2,943	$ 2,089

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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- Definition

Net of tax amount of other comprehensive income (loss) attributable to the parent entity.

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- Definition

Before tax and reclassification adjustments amount of unrealized holding gain (loss) and transfers on available-for-sale securities.

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+ Details

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
OPERATING ACTIVITIES:
Net income (loss)	$ 2,872	$ 2,378
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation	792	690
Deferred income taxes	(19)	(33)
Stock-based compensation expense	312	118
Provision for losses on accounts receivable	30	(70)
Gain on disposition of capital assets	(1)	(3)
Changes in operating assets and liabilities:
Trade receivables	(2,221)	(617)
Inventories	(2,851)	(4,698)
Other current assets	(320)	209
Other assets	(81)	17
Accounts payable - trade	(1,295)	(54)
Accrued liabilities	(799)	(445)
Other long-term liabilities	(284)	(565)
Deferred compensation	348	119
Net cash provided by operating activities	(3,517)	(2,954)
INVESTING ACTIVITIES:
Purchases of investments	(217)	(82)
Proceeds from sales of investments	59	227
Proceeds from sale of capital assets	1	3
Capital expenditures	(3,005)	(580)
Net cash (used in) provided by investing activities	(3,162)	(432)
FINANCING ACTIVITIES:
Dividends paid	(1,036)	(503)
Proceeds from issuance of common stock	273	86
Net cash used in financing activities	(763)	(417)
Increase (decrease) in cash and cash equivalents	(7,442)	(3,803)
Cash and cash equivalents at beginning of year	13,970	17,889
Cash and cash equivalents at end of year	6,528	14,086
SUPPLEMENTAL INFORMATION CASH PAID DURING THE PERIOD FOR:
Income taxes paid (refunded)	773	$ 95
Capital Expenditures Incurred but Not yet Paid	$ 1,549

Summary Of Significant Accounting Policies	3 Months Ended
Summary Of Significant Accounting Policies	Sep. 30, 2012
Summary Of Significant Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	1. The consolidated financial statements included herein have been prepared by Flexsteel Industries, Inc. and Subsidiaries (the “Company” or “Flexsteel”), without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The information furnished in the consolidated financial statements includes normal recurring adjustments and reflects all adjustments, which are, in the opinion of management, necessary for a fair presentation of such consolidated financial statements. Operating results for the three-month period ended September 30, 2012 are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2013. Certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. Except to the extent updated or described below, the significant accounting policies set forth in Note 1 to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended June 30, 2012, appropriately represent, in all material respects, the current status of accounting policies and are incorporated by reference. DESCRIPTION OF BUSINESS – Flexsteel was incorporated in 1929 and is one of the oldest and largest manufacturers, importers and marketers of upholstered and wooden furniture products in the country. Product offerings include a wide variety of upholstered and wood furniture such as sofas, loveseats, chairs, reclining and rocker-reclining chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs and bedroom furniture. The Company’s products are intended for use in home, office, hospitality, health care and motor vehicle applications. Featured as a basic component in most of the upholstered furniture is a unique steel drop-in seat spring from which our name “Flexsteel” is derived. The Company distributes its products primarily throughout the United States through the Company’s sales force and various independent representatives to furniture dealers, department stores, recreational vehicle manufacturers, catalogs, hospitality and healthcare facilities. The Company’s products are also sold to several national and regional chains, some of which sell on a private label basis.

Inventories

3 Months Ended

Sep. 30, 2012

Inventories [Abstract]

Inventories

2. INVENTORIES

The Company values inventory at the lower of cost or market. Raw steel is valued on the last-in, first-out (“LIFO”) method. Other inventories are valued on the first-in, first-out (“FIFO”) method. Inventories valued on the LIFO method would have been approximately $1.8 million and $1.7 million higher at September 30, 2012 and June 30, 2012, if they had been valued on the FIFO method. At September 30, 2012 and June 30, 2012 the total value of LIFO inventory was $2.9 million. A comparison of inventories is as follows:



(in thousands)	September 30,		June 30,
	2012		2012
Raw materials	$	9,686	$	10,410
Work in process and finished parts		5,606		5,288
Finished goods		70,248		66,991
Total	$	85,540	$	82,689

Credit Arrangements	3 Months Ended
Credit Arrangements	Sep. 30, 2012
Credit Arrangements [Abstract]
Credit Arrangements	3. BORROWINGS AND CREDIT ARRANGEMENTS The Company maintains a credit agreement which provides short-term working capital financing up to $15.0 million with interest of LIBOR plus 1%, including $5.0 million of letters of credit availability. This credit agreement expires June 30, 2013. No amounts were outstanding at September 30, 2012 and June 30, 2012 under the working capital facility. The Company is contingently liable to insurance carriers under its comprehensive general, product, and vehicle liability policies, as well as some workers’ compensation, and has provided letters of credit in the amount of $2.5 million. The credit agreement contains financial covenants. The primary covenant is an interest coverage ratio of 3.0 to 1.0. The ratio is computed as net income plus interest expense and stock-based compensation expense less dividends, divided by interest expense. In addition, the Company must maintain working capital of $60.0 million. At September 30, 2012, the Company was in compliance with all of the financial covenants contained in the credit agreement.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

Stock-Based Compensation

3 Months Ended

Sep. 30, 2012

Stock-Based Compensation [Abstract]

Stock-Based Compensation

4. STOCK-BASED COMPENSATION

The Company has two stock-based compensation methods available when determining employee compensation.

(1)

Long-Term Management Incentive Compensation Plan – The plan provides for shares of common stock and cash to be awarded to officers and key employees based on performance targets set by the Nominating and Compensation Committee of the Board of Directors (the “Committee”). The Company’s shareholders approved 500,000 shares to be issued under the plan. As of September 30, 2012, 122,921 shares have been issued. The Committee selected consolidated operating results for organic net sales growth and fully-diluted earnings per share for the three-year performance periods beginning July 1, 2010 and ending on June 30, 2013, beginning July 1, 2011 and ending on June 30, 2014, and beginning July 1, 2012 and ending on June 30, 2015. The Committee has also specified that payouts, if any, for awards earned in these performance periods will be 60% stock and 40% cash. Awards will be paid to participants as soon as practicable following the end of the performance periods subject to Committee approval and verification of results. The compensation cost related to the number of shares to be granted under each performance period is fixed on the grant date, which is the date the performance period begins. The compensation cost related to the cash portion of the award is re-measured based on the equity award’s estimated fair value at the end of each reporting period. The accrual is based on the probable outcomes of the performance conditions. The short-term portion of the recorded cash award payable is classified within current liabilities, payroll and related items, and the long-term portion of the recorded cash award payable is classified within other long-term liabilities in the Consolidated Balance Sheets. As of September 30, 2012 and June 30, 2012, the Company has recorded cash awards payable of $0.6 million and $1.1 million within current liabilities and $0.3 million and $0.7 million within long-term liabilities, respectively. At September 30, 2012 and September 30, 2011, the Company has recorded expense of $0.4 million and $0.3 million, respectively.

If the target performance goals would be achieved, the total amount of compensation cost recognized over the requisite service periods would be $1.2 million (2011-2013), $1.1 million (2012-2014) and $1.0 million (2013-2015) based on the estimated fair values at September 30, 2012.

(2)

Stock Option Plans – The stock option plans for key employees and directors provide for the granting of incentive and nonqualified stock options. Under the plans, options are granted at an exercise price equal to the fair market value of the underlying common stock at the date of grant, and may be exercisable for up to 10 years. All options are exercisable when granted.

At September 30, 2012, 321,300 shares were available for future grants. It is the Company’s policy to issue new shares upon exercise of stock options. The Company accepts shares of the Company’s common stock as payment for the exercise price of options. These shares received as payment are retired upon receipt.

A summary of the status of the Company’s stock option plans as of September 30, 2012, June 30, 2012 and 2011 and the changes during the periods then ended is presented below:



					Aggregate
	Shares		Weighted Average		Intrinsic Value
	(in thousands)		Exercise Price		(in thousands)
Outstanding and exercisable at June 30, 2011	1,046	$	13.56	$	2,271
Granted	83		13.87
Exercised	(306)		12.57
Canceled	(5)		17.12
Outstanding and exercisable at June 30, 2012	818		13.94		4,783
Granted	25		20.50
Exercised	(17)		16.64
Canceled	(3)		16.47
Outstanding and exercisable at September 30, 2012	823	$	14.08	$	5,450

The following table summarizes information for options outstanding and exercisable at September 30, 2012:



			Weighted Average
	Range of	Options	Remaining		Exercise
	Prices	Outstanding	Life (Years)		Price
		(in thousands)
$	6.81 - 8.55	153	6.7	$	7.67
	12.35-13.90	252	5.8		12.85
	14.40 - 16.49	203	2.5		15.50
	17.23 - 20.50	215	4.6		18.73
$	6.81 - 20.50	823	4.9		14.08

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

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+ Details

Income Taxes

3 Months Ended

Sep. 30, 2012

Income Taxes [Abstract]

Income Taxes

5. INCOME TAXES

In determining the quarterly provision for income taxes, the Company uses an estimated annual effective tax rate, which is based on the expected annual income, statutory tax rates and tax planning opportunities available to the Company in the various jurisdictions in which it operates. This includes recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns to the extent pervasive evidence exists that they will be realized in future periods. The deferred tax balances are adjusted to reflect tax rates by tax jurisdiction, based on currently enacted tax laws, which are expected to be in effect in the years in which the temporary differences are expected to reverse. In accordance with the Company’s income tax policy, significant or unusual items are separately recognized in the quarter in which they occur.

The components of the gross liabilities related to unrecognized tax benefits and the related deferred tax assets are as follows:



(in thousands)	September 30,		June 30,
	2012		2012
Gross unrecognized tax benefits	$	1,050	$	1,000
Accrued interest and penalties		415		365
Gross liabilities related to unrecognized tax benefits	$	1,465	$	1,365

Deferred tax assets	$	385	$	350

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



(in thousands)		September 30,		June 30,
		2012		2012
Balance at July 1	$	1,000	$	970
Additions based on tax positions related to the current year		55		207
Additions for tax positions of prior years		25		0
Reductions for tax positions of prior years		(30)		(177)
Ending Balance	$	1,050	$	1,000

The recognition of the above amounts would impact the Company’s effective tax rate. The Company does not expect that there will be any positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within twelve months. The Company records interest and penalties related to income taxes as income tax expense in the Consolidated Statements of Operations.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Earnings Per Share

3 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share

6. EARNINGS PER SHARE

Basic earnings per share (“EPS”) of common stock is based on the weighted-average number of common shares outstanding during each period. Diluted earnings per share of common stock includes the dilutive effect of potential common shares outstanding. The Company’s potential common shares outstanding are stock options and shares associated with the long-term management incentive compensation plan. The Company calculates the dilutive effect of outstanding options using the treasury stock method. Anti-dilutive shares are not included in the computation of diluted EPS when their exercise price was greater than the average closing market price of the common shares. The Company calculates the dilutive effect of shares related to the long-term management incentive compensation plan based on the number of shares, if any, that would be issuable if the end of the fiscal year were the end of the contingency period.

In computing EPS for the quarters ended September 30, 2012 and 2011, net income as reported for each respective period is divided by the fully diluted weighted average number of shares outstanding:




	September 30,
(in thousands)	2012	2011

Basic shares	6,938	6,727

Potential common shares:
Stock options	272	157
Long-term incentive plan	31	85
	303	242

Diluted shares	7,241	6,969

Anti-dilutive shares	-	424

Litigation	3 Months Ended
Litigation	Sep. 30, 2012
Litigation [Abstract]
Litigation	7. LITIGATION Indiana Civil Litigation – The Company has been named as one of several defendants in a lawsuit related to groundwater contamination. The lawsuit alleges that the contamination source is a property once owned by the Company. The Company does not believe that it caused or contributed to the contamination. Plaintiffs have not identified a dollar amount of their alleged damages and the status of insurance coverage has not been determined. We are unable to estimate a range of reasonably possible outcomes or losses at this time. Accordingly, no accrual related to this matter has been recorded in the September 30, 2012 financial statements. Legal and other related expenses of $0.6 million and $0.5 million have been incurred responding to this lawsuit for the quarters ended September 30, 2012 and 2011, respectively, and are included in Selling, General and Administrative expense in the Consolidated Statements of Income. Other Proceedings – From time to time, the Company is subject to various other legal proceedings, including lawsuits, which arise out of, and are incidental to, the conduct of the Company’s business. The Company does not consider any of such other proceedings that are currently pending, individually or in the aggregate, to be material to its business or likely to result in a material effect on its consolidated operating results, financial condition, or cash flows.

Inventories (Tables)

3 Months Ended

Sep. 30, 2012

Inventories [Abstract]

Comparison Of Inventories



(in thousands)	September 30,		June 30,
	2012		2012
Raw materials	$	9,686	$	10,410
Work in process and finished parts		5,606		5,288
Finished goods		70,248		66,991
Total	$	85,540	$	82,689

Stock-Based Compensation (Tables)

3 Months Ended

Sep. 30, 2012

Stock-Based Compensation [Abstract]

Schedule Of Stock Option Plans



					Aggregate
	Shares		Weighted Average		Intrinsic Value
	(in thousands)		Exercise Price		(in thousands)
Outstanding and exercisable at June 30, 2011	1,046	$	13.56	$	2,271
Granted	83		13.87
Exercised	(306)		12.57
Canceled	(5)		17.12
Outstanding and exercisable at June 30, 2012	818		13.94		4,783
Granted	25		20.50
Exercised	(17)		16.64
Canceled	(3)		16.47
Outstanding and exercisable at September 30, 2012	823	$	14.08	$	5,450

Schedule Of Options Outstanding And Exercisable



			Weighted Average
	Range of	Options	Remaining		Exercise
	Prices	Outstanding	Life (Years)		Price
		(in thousands)
$	6.81 - 8.55	153	6.7	$	7.67
	12.35-13.90	252	5.8		12.85
	14.40 - 16.49	203	2.5		15.50
	17.23 - 20.50	215	4.6		18.73
$	6.81 - 20.50	823	4.9		14.08

Income Taxes (Tables)

3 Months Ended

Sep. 30, 2012

Income Taxes [Abstract]

Components Of The Gross Liabilities Related To Unrecognized Tax Benefits And The Related Deferred Tax Assets



(in thousands)	September 30,		June 30,
	2012		2012
Gross unrecognized tax benefits	$	1,050	$	1,000
Accrued interest and penalties		415		365
Gross liabilities related to unrecognized tax benefits	$	1,465	$	1,365

Deferred tax assets	$	385	$	350

Reconciliation Of The Beginning And Ending Amount Of Unrecognized Tax Benefits



(in thousands)		September 30,		June 30,
		2012		2012
Balance at July 1	$	1,000	$	970
Additions based on tax positions related to the current year		55		207
Additions for tax positions of prior years		25		0
Reductions for tax positions of prior years		(30)		(177)
Ending Balance	$	1,050	$	1,000

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References + Details

Earnings Per Share (Tables)

3 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]




	September 30,
(in thousands)	2012	2011

Basic shares	6,938	6,727

Potential common shares:
Stock options	272	157
Long-term incentive plan	31	85
	303	242

Diluted shares	7,241	6,969

Anti-dilutive shares	-	424

Summary Of Significant Accounting Policies (Details) - shares shares in Thousands	3 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Summary Of Significant Accounting Policies [Abstract]
Potential common shares outstanding	31	85
Outstanding options to purchase common stock	272	157

- Definition

Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of call options and warrants using the treasury stock method.

+ References + Details

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
Inventories [Abstract]
Raw materials	$ 9,686	$ 10,410
Work in process and finished parts	5,606	5,288
Finished goods	70,248	66,991
Total inventories	85,540	82,689
Inventories valued on the FIFO method	1,800	$ 1,700
Inventories valued on the LIFO method	$ 2,900

Credit Arrangements (Details) $ in Millions	3 Months Ended
Credit Arrangements (Details) $ in Millions	Sep. 30, 2012 USD ($)
Credit agreement capacity	$ 15.0
Interest rate over LIBOR	1.00%
Interest coverage ratio under covenant	300.00%
Minimum working capital required to be maintained under covenant	$ 60.0
Letters of credit provided	2.5
Letters Of Credit [Member]
Credit agreement capacity	$ 5.0

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Jun. 30, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares approved to be issued under plan	500,000
Shares issued	122,921
Period for performance awards, years	3 years
Performance awards earned, percentage payable as stock	60.00%
Performance awards earned, percentage payable as cash	40.00%
Cash awards payable within current liabilities	$ 0.6		$ 1.1
Cash awards payable within long-term liabilities	$ 0.3		$ 0.7
Shares available for future grants	321,300
Long-Term Management Incentive Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	$ 0.4	$ 0.3
Long-Term Management Incentive Compensation Plan [Member] \| 2010-2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	1.2
Long-Term Management Incentive Compensation Plan [Member] \| 2011-2013 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	1.1
Long-Term Management Incentive Compensation Plan [Member] \| 2012-2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	$ 1.0

Stock-Based Compensation (Schedule Of Stock Option Plans) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2012	Jun. 30, 2012	Jun. 30, 2011
Stock-Based Compensation [Abstract]
Shares, Outstanding and exercisable	818	1,046
Shares, Granted	25	83
Shares, Exercised	(17)	(306)
Shares, Canceled	(3)	(5)
Shares, Outstanding and exercisable	823	818
Weighted Average Exercise Price, Oustanding and exercisable	$ 13.94	$ 13.56
Weighted Average Exercise Price, Granted	20.50	13.87
Weighted Average Exercise Price, Exercised	16.64	12.57
Weighted Average Exercise Price, Canceled	16.47	17.12
Weighted Average Exercise Price, Oustanding and exercisable	$ 14.08	$ 13.94
Aggregate Intrinsic Value	$ 5,450	$ 4,783	$ 2,271

Stock-Based Compensation (Schedule Of Options Outstanding And Exercisable) (Details) - $ / shares shares in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2012	Jun. 30, 2012
6.81 - 8.55 [Member]
Share-Based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range [Line Items]
Range of Price Lower		$ 6.81
Range of Price Upper		8.55
Options Outstanding	153
Weighted Average Remaining Life, Years	0 years
Weighted Average Exercise Price	$ 7.67
12.35 - 13.90 [Member]
Share-Based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range [Line Items]
Range of Price Lower		12.35
Range of Price Upper		13.90
Options Outstanding	252
Weighted Average Remaining Life, Years	0 years
Weighted Average Exercise Price	$ 12.85
14.40 - 16.49 [Member]
Share-Based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range [Line Items]
Range of Price Lower		14.40
Range of Price Upper		16.49
Options Outstanding	203
Weighted Average Remaining Life, Years	0 years
Weighted Average Exercise Price	$ 15.50
17.23 - 20.50 [Member]
Share-Based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range [Line Items]
Range of Price Lower		17.23
Range of Price Upper		20.50
Options Outstanding	215
Weighted Average Remaining Life, Years	0 years
Weighted Average Exercise Price	$ 18.73
6.81 - 20.50 [Member]
Share-Based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range [Line Items]
Range of Price Lower		6.81
Range of Price Upper		$ 20.50
Options Outstanding	823
Weighted Average Remaining Life, Years	0 years
Weighted Average Exercise Price	$ 14.08

Income Taxes (Components Of The Gross Liabilities Related To Unrecognized Tax Benefits And The Related Deferred Tax Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012	Jun. 30, 2011
Income Taxes [Abstract]
Gross unrecognized tax benefits	$ 1,050	$ 1,000	$ 970
Accrued interest and penalties	415	365
Gross liabilities related to unrecognized tax benefits	1,465	1,365
Deferred tax assets	$ 385	$ 350

Income Taxes (Reconciliation Of The Beginning And Ending Amount Of Unrecognized Tax Benefits) (Details)dd - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2012	Jun. 30, 2012
Income Taxes [Abstract]
Balance	$ 1,000	$ 970
Unrecognized Tax Benefits, Increases Resulting from Current Period Tax Positions	55	207
Reduction for tax positions of prior years	(30)	(177)
Additions for tax positions of prior years	25	0
Balance	$ 1,050	$ 1,000

Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
Earnings Per Share (Details) - shares shares in Thousands	Sep. 30, 2012	Sep. 30, 2011
Earnings Per Share [Abstract]
Basic	6,938	6,727
Stock options	272	157
Long-term incentive plan	31	85
Potential common shares, total	303	242
Diluted	7,241	6,969
Anti-dilutive shares		424

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Antidilution
-URI http://asc.fasb.org/extlink&oid=6505113

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Diluted Earnings Per Share
-URI http://asc.fasb.org/extlink&oid=6510752

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Contingent Stock Agreement
-URI http://asc.fasb.org/extlink&oid=6508534

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of call options and warrants using the treasury stock method.

+ References + Details

- Definition

The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.

+ References + Details

- Definition

Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Weighted-Average Number of Common Shares Outstanding
-URI http://asc.fasb.org/extlink&oid=6528421

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Litigation (Details) - USD ($) $ in Millions	3 Months Ended
Litigation (Details) - USD ($) $ in Millions	Sep. 30, 2012	Sep. 30, 2011
Litigation [Abstract]
Legal and other related expenses	$ 0.6	$ 0.5