View Filing Data

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Jun. 30, 2017	Aug. 11, 2017	Dec. 31, 2016
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2017
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	Accelerated Filer
Entity Public Float			$ 391,665,307
Entity Common Stock, Shares Outstanding		7,823,121
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Trading Symbol	FLXS

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
ASSETS
Cash and Cash Equivalents	$ 28,874	$ 36,780	$ 1,282	$ 22,176
Investments	17,958
Trade receivables - less allowances: June 30, 2017, $1,200; June 30, 2016, $1,300	42,362	44,618
Inventories	99,397	85,904
Other	6,659	9,141
Total current assets	195,250	176,443
NONCURRENT ASSETS:
Property, plant and equipment, net	70,661	64,124
Deferred income taxes	1,740	3,660
Other assets	2,394	2,669
TOTAL	270,045	246,896
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable - trade	16,758	11,023
Accrued liabilities:
Payroll and related items	6,255	6,986
Insurance	5,423	5,252
Other	8,759	10,096
Total current liabilities	37,195	33,357
LONG-TERM LIABILITIES:
Other liabilities	2,090	3,889
Total liabilities	39,285	37,246
COMMITMENTS AND CONTINGENCIES (Note 12)
SHAREHOLDERS' EQUITY:
Common stock - $1 par value; authorized 15,000,000 shares; outstanding 2017, 7,822,080 shares; 2016, 7,700,149 shares	7,822	7,700
Additional paid-in capital	26,186	23,259
Retained earnings	198,465	180,919
Accumulated other comprehensive loss	(1,713)	(2,228)	(1,736)
Total shareholders' equity	230,760	209,650	$ 186,747	$ 166,735
TOTAL	$ 270,045	$ 246,896

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Consolidated Balance Sheets [Abstract]
Trade receivables, allowance for doubtful accounts	$ 1,200	$ 1,300
Common stock, par value	$ 1	$ 1
Common stock, authorized	15,000,000	15,000,000
Common stock, outstanding	7,822,080	7,700,149

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Consolidated Statements Of Operations [Abstract]
NET SALES	$ 468,764	$ 500,106	$ 466,904
COST OF GOODS SOLD	(360,113)	(386,407)	(357,044)
GROSS MARGIN	108,651	113,699	109,860
SELLING, GENERAL AND ADMINISTRATIVE	(72,562)	(77,911)	(75,688)
Litigation Settlement Reimbursements	1,175	2,280	250
OPERATING INCOME (LOSS)	37,264	38,068	34,422
Interest and other income	322	(72)	1,267
Interest expense		(69)	(130)
INCOME BEFORE INCOME TAXES	37,586	37,927	35,559
INCOME TAX PROVISION	(13,800)	(13,690)	(13,260)
NET INCOME (LOSS)	$ 23,786	$ 24,237	$ 22,299
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic	7,782	7,595	7,423
Diluted	7,886	7,765	7,708
EARNINGS (LOSS) PER SHARE OF COMMON STOCK:
Basic	$ 3.06	$ 3.19	$ 3.00
Diluted	$ 3.02	$ 3.12	$ 2.89

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Accumulated Other Comprehensive Income (Loss) [Abstract]
Net income	$ 23,786	$ 24,237	$ 22,299
Unrealized (losses) gains on securities	(87)	741	162
Reclassification of Realized gain to other income	145	(535)	(400)
Other Comprehensive Income(Loss) Before Taxes	58	206	(238)
Income tax benefit (expense) related to securities gains (losses)	(22)	(78)	91
Net unrealized (losses) gains on securities gains (losses)	36	128	(147)
Minimum pension liability	771	(999)	(537)
Income tax benefit (expense) related to minimum pension liability	(292)	379	204
Net minimum pension liability	479	(620)	(333)
Other comprehensive (loss) income, net of tax	515	(492)	(480)
Comprehensive income	24,301	23,745	21,819
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax	$ (292)	$ 379	$ 204

Consolidated Statements Of Changes In Shareholders' Equity - USD ($) $ in Thousands	Total Par Value Of Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Balance at Jun. 30, 2014	$ 7,371	$ 15,386	$ 145,234	$ (1,256)	$ 166,735
Issuance of common stock:
Stock options exercised, net	83	707			790
Unrealized gain on available for sale investments, net of tax				(147)	(147)
Long-term incentive compensation	26	1,310			1,336
Stock-based compensation		607			607
Excess tax benefit from stock-based payment arrangements		(817)			(817)
Minimum pension liability adjustment, net of tax				(333)	(333)
Cash dividends declared			(5,357)		(5,357)
Net income			22,299		22,299
Balance at Jun. 30, 2015	7,480	18,827	162,176	(1,736)	$ 186,747
Issuance of common stock:
Common Stock, Dividends, Per Share, Declared					$ 0.72
Balance at Jun. 30, 2014	7,371	15,386	145,234	(1,256)	$ 166,735
Issuance of common stock:
Excess tax benefit from stock-based payment arrangements					0
Balance at Jun. 30, 2017	7,822	26,186	198,465	(1,713)	230,760
Balance at Jun. 30, 2015	7,480	18,827	162,176	(1,736)	186,747
Issuance of common stock:
Stock options exercised, net	184	1,407			1,591
Unrealized gain on available for sale investments, net of tax				128	128
Long-term incentive compensation	27	858			885
Stock-based compensation	9	406			415
Excess tax benefit from stock-based payment arrangements		1,761			1,761
Minimum pension liability adjustment, net of tax				(620)	(620)
Cash dividends declared			(5,494)		(5,494)
Net income			24,237		24,237
Balance at Jun. 30, 2016	7,700	23,259	180,919	(2,228)	$ 209,650
Issuance of common stock:
Common Stock, Dividends, Per Share, Declared					$ 0.72
Stock options exercised, net	79	999			$ 1,078
Unrealized gain on available for sale investments, net of tax				36	36
Long-term incentive compensation	35	(213)			(178)
Stock-based compensation	8	647			655
Excess tax benefit from stock-based payment arrangements		1,494			1,494
Minimum pension liability adjustment, net of tax				479	479
Cash dividends declared			(6,240)		(6,240)
Net income			23,786		23,786
Balance at Jun. 30, 2017	$ 7,822	$ 26,186	$ 198,465	$ (1,713)	$ 230,760
Issuance of common stock:
Common Stock, Dividends, Per Share, Declared					$ 0.80

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
OPERATING ACTIVITIES:
Net income (loss)	$ 23,786	$ 24,237	$ 22,299
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation	7,936	7,556	4,945
Deferred income taxes	1,606	2,731	605
Stock-based compensation expense	1,609	1,470	1,943
Excess tax benefit from stock-based payment arrangements	(1,494)	(1,761)	(817)
Provision for losses on accounts receivable	(100)	(100)	30
Other non-cash, net			(28)
Gain on disposition of capital assets	(512)	(34)	(119)
Gain on life insurance policies		(346)	(745)
Changes in operating assets and liabilities:
Trade receivables	2,356	584	(6,596)
Inventories	(13,492)	27,938	(15,902)
Other current assets	1,036	(1,962)	(3,882)
Other assets	450	59	(1,024)
Accounts payable - trade	4,028	(6,877)	2,083
Accrued liabilities	477	2,052	201
Other long-term liabilities	(1,298)	(1,180)	276
Net cash provided by operating activities	26,388	54,367	3,269
INVESTING ACTIVITIES:
Purchases of investments	(30,537)	(3,100)	(1,955)
Proceeds from sales of investments	12,474	2,900	1,611
Proceeds from sale of capital assets	1,848	76	155
Proceeds from Life Insurance Policies		2,814	5,053
Capital expenditures	(13,457)	(7,382)	(37,423)
Net cash (used in) provided by investing activities	(29,672)	(4,692)	(32,559)
FINANCING ACTIVITIES:
Proceeds from short-term borrowings, net		(11,904)	11,904
Dividends paid	(6,062)	(5,455)	(5,115)
Proceeds from issuance of common stock	1,078	1,591	790
Shares withheld for employee tax obligations	(1,132)	(170)
Excess tax benefit from stock-based payment arrangements	1,494	1,761	817
Net cash used in financing activities	(4,622)	(14,177)	8,396
Increase (decrease) in cash and cash equivalents	(7,906)	35,498	(20,894)
SUPPLEMENTAL INFORMATION CASH PAID DURING THE PERIOD FOR:
Income taxes paid (refunded)	9,780	10,140	13,920
Capital Expenditures Incurred but Not yet Paid	$ 1,740	$ 430	$ 130

Inventories

12 Months Ended

Jun. 30, 2017

Inventories [Abstract]

Inventories

2. INVENTORIES

A comparison of inventories is as follows:



(in thousands)	June 30,
	2017		2016
Raw materials	$	15,043	$	12,893
Work in process and finished parts		7,047		5,810
Finished goods		77,307		67,201
Total	$	99,397	$	85,904

Property, Plant And Equipment

12 Months Ended

Jun. 30, 2017

Property, Plant and Equipment [Abstract]

Property, Plant And Equipment

3. PROPERTY, PLANT AND EQUIPMENT



(in thousands)	Estimated	June 30,
	Life (Years)	2017		2016
Land		$	6,987	$	7,279
Buildings and improvements	5-39		70,741		72,900
Machinery and equipment	3-7		33,441		34,015
Delivery equipment	3-5		20,866		21,979
Furniture and fixtures	3-7		4,474		4,509
Computer software and hardware	3-10		18,903		6,370
Total			155,412		147,052
Less accumulated depreciation			(84,751)		(82,928)
Net		$	70,661	$	64,124

Other Noncurrent Assets

12 Months Ended

Jun. 30, 2017

Other Noncurrent Assets [Abstract]

Other Noncurrent Assets

4. OTHER NONCURRENT ASSETS



(in thousands)	June 30,
	2017		2016
Cash value of life insurance	$	989	$	965
Other		1,405		1,704
Total	$	2,394	$	2,669

Accrued Liabilities - Other

12 Months Ended

Jun. 30, 2017

Accrued Liabilities - Other [Abstract]

Accrued Liabilities - Other

5. ACCRUED LIABILITIES – OTHER



(in thousands)	June 30,
	2017		2016
Advertising	$	3,883	$	4,068
Dividends		1,564		1,386
Warranty		1,080		1,070
Other		2,232		3,572
Total	$	8,759	$	10,096

Credit Arrangements	12 Months Ended
Credit Arrangements	Jun. 30, 2017
Credit Arrangements [Abstract]
Credit Arrangements	6. CREDIT ARRANGEMENTS The Company entered into an unsecured credit agreement on June 30, 2017, that provides short-term working capital financing up to $10.0 million with interest of LIBOR plus 1% (2.22% at June 30, 2017), including up to $4.0 million of letters of credit. Letters of credit outstanding at June 30, 2017 totaled $1.3 million. Other than the outstanding letters of credit, the Company utilized no borrowing availability under the credit facility, leaving borrowing availability of $8.7 million as of June 30, 2017. The credit agreement expires June 30, 2018. At June 30, 2017, the Company was in compliance with all of the financial covenants contained in the credit agreement. The Company maintains an unsecured $10.0 million line of credit, with interest at prime minus 2% (2.25% at June 30, 2017). No amount was outstanding on the line of credit at June 30, 2017. This line of credit matures December 31, 2017.

Income Taxes

12 Months Ended

Jun. 30, 2017

Income Taxes [Abstract]

Income Taxes

7. INCOME TAXES

In determining the provision for income taxes, the Company uses an estimated annual effective tax rate that is based on the annual income, statutory tax rates and permanent differences between book and tax. 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 when they occur.

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



	June 30,
(in thousands)	2017		2016
Gross unrecognized tax benefits	$	320	$	610
Accrued interest and penalties		130		250
Gross liabilities related to unrecognized tax benefits	$	450	$	860

Deferred tax assets	$	130	$	250

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




(in thousands)		2017		2016		2015
Balance at July 1	$	610	$	1,580	$	1,290
Additions based on tax positions related to the current year		130		45		390
Additions for tax positions of prior years		-		-		-
Reductions for tax positions of prior years		(420)		(1,015)		(100)
Balance at June 30	$	320	$	610	$	1,580

The Company records interest and penalties related to income taxes as income tax expense in the consolidated statements of income. 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 the next twelve months.

The income tax provision is as follows for the years ended June 30:



(in thousands)	2017		2016		2015
Federal - current	$	11,015	$	9,343	$	11,725
State and other - current		1,179		1,616		930
Deferred		1,606		2,731		605
Total	$	13,800	$	13,690	$	13,260

A reconciliation between the U.S. federal statutory tax rate and the effective tax rate is as follows for the years ended June 30:



	2017		2016		2015
Federal statutory tax rate	35.0	%	35.0	%	35.0	%
State taxes, net of federal effect	2.7		3.8		2.6
Other	(1.0)		(2.7)		(0.3)
Effective tax rate	36.7	%	36.1	%	37.3	%

The primary components of deferred tax assets and (liabilities) are as follows:


	June 30,
(in thousands)	2017		2016
Accounts receivable	$	460	$	490
Inventory		(50)		500
Self-insurance		560		660
Payroll and related		1,690		3,120
Accrued liabilities		1,240		1,100
Property, plant and equipment		(2,850)		(3,080)
Investment tax credit		1,930		1,990
Valuation allowance		(1,390)		(1,380)
Other		150		260
Total	$	1,740	$	3,660

The Company is subject to U.S. federal income tax as well as income tax of multiple state and foreign jurisdictions. Generally, tax years 2013–2016 remain open to examination by the Internal Revenue Service or other taxing jurisdictions to which we are subject.

Stock-Based Compensation

12 Months Ended

Jun. 30, 2017

Stock-Based Compensation [Abstract]

Stock-Based Compensation

8. STOCK-BASED COMPENSATION

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

(1)

Long-Term Incentive Compensation Plans

Long-Term Incentive Compensation Plan

The long-term incentive compensation plan provides for shares of common stock to be awarded to officers and key employees based on performance targets set by the Compensation Committee of the Board of Directors (the “Committee”). The Company’s shareholders previously approved 700,000 shares to be issued under the plan. As of June 30, 2017, 61,969 shares have been issued. The Committee selected fully-diluted earnings per share as the performance goal for the three-year performance periods July 1, 2014 – June 30, 2017 (2015-2017), July 1, 2015 – June 30, 2018 (2016-2018) and July 1, 2016 – June 30, 2019 (2017-2019). The Committee also selected total shareholder return as a performance goal for the executive officers for the three year performance period July 1, 2016 – June 30, 2019 (2017-2019). Stock awards will be issued 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 Company recorded plan expenses of $0.9 million, $1.1 million and $1.1 million for fiscal years ended June 30, 2017, 2016 and 2015, respectively. If the target performance goals for 2015-2017, 2016-2018 and 2017-2019 would be achieved, the total amount of compensation cost recognized over the requisite service periods would be $0.9 million, $1.0 million and $1.1 million, respectively.

The aggregate number of shares that could be awarded to key executives if the minimum, target or maximum performance goals are met is as follows:


(in thousands)
Performance Period	Minimum	Target		Maximum
Fiscal Year 2015 - 2017	11		28	55
Fiscal Year 2016 - 2018	9		23	45
Fiscal Year 2017 - 2019	11		27	52

(2)

Stock Plans

Omnibus Stock Plan

The Omnibus Stock Plan is for key employees, officers and directors and provides for the granting of incentive and nonqualified stock options, restricted stock, restricted stock units, stock appreciation rights and performance units. The Company’s shareholders previously approved 700,000 shares to be issued under the plan.

Under the plan, options were granted at an exercise price equal to the fair market value of the underlying common stock at the date of grant and exercisable for up to 10 years. All options were exercisable when granted. 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.

For fiscal years 2017, 2016 and 2015, the Company issued options for 24,317, 25,868 and 48,600 common shares at a weighted average exercise price of $47.45, $43.09 and $31.48 (the fair market value on the date of grant), respectively. The options were immediately available for exercise. For fiscal years ended June 30, 2017, 2016 and 2015, the Company recorded expense of $0.3 million, $0.2 million and $0.4 million, respectively. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions used for grants in fiscal years 2017, 2016 and 2015, respectively, under this plan; dividend yield of 1.5%, 1.6% and 2.0%; expected volatility of 30.8%, 26.0% and 29.9%; risk-free interest rate of 1.2%, 1.6% and 1.6% and an expected life of 5 years. The expected volatility and expected life are determined based on historical data. The weighted-average grant date fair value of stock options granted during fiscal years 2017, 2016 and 2015 were $11.76, $9.20 and $7.33, respectively. The cash proceeds from stock options exercised were $0.7 million, $0.1 million and $0.1 million for fiscal years ended 2017, 2016 and 2015, respectively. There was no income tax benefit related to the exercise of stock options for fiscal years ended June 30, 2017, 2016 and 2015.

Under the plan, the Company issued 6,997 and 6,208 restricted shares to non-executive directors as compensation and recorded expense of $0.4 million and $0.3 million during fiscal years ended June 30, 2017 and 2016, respectively.

At June 30, 201, 537,762 shares were available for future grants.

2006 and 2009 Stock Option Plans

The stock option plans were for key employees, officers and directors and provide for granting incentive and nonqualified stock options. Under the plans, options were granted at an exercise price equal to the fair market value of the underlying common stock at the date of grant and exercisable for up to 10 years. All options were exercisable when granted. No additional options can be granted and no expense was recorded under these plans during the fiscal years ended June 30, 2017, 2016 and 2015.

The cash proceeds from stock options exercised were $0.4 million, $1.5 million and $1.6 million for fiscal years ended 2017, 2016 and 2015, respectively. The income tax benefit related to the exercise of stock options were $0.6 million, $1.6 million and $0.4 million for fiscal years ended 2017, 2016 and 2015, respectively.

A summary of the status of the Company’s stock option plans as of June 30, 2017, 2016 and 2015 and the changes during the years then ended is presented below:



					Aggregate
	Shares		Weighted Average		Intrinsic Value
	(in thousands)		Exercise Price		(in thousands)
Outstanding and exercisable at June 30, 2015	457		17.02	$	11,916
Granted	26		43.09
Exercised	(207)		12.68
Canceled	(6)		22.32
Outstanding and exercisable at June 30, 2016	270		22.85	$	4,638
Granted	24		47.45
Exercised	(98)		20.57
Canceled	(9)		20.51
Outstanding and exercisable at June 30, 2017	187	$	27.21	$	5,039

The following table summarizes information for options outstanding and exercisable at June 30, 2017:



			Weighted Average
	Range of	Options	Remaining		Exercise
	Prices	Outstanding	Life (Years)		Price
		(in thousands)
$	6.96 - 13.90	38	2.4	$	12.13
	17.23 - 19.77	34	4.5		18.54
	20.50 - 27.57	40	6.1		25.72
	31.06 - 32.13	33	7.4		31.60
	43.09 - 47.45	42	8.7		45.52
$	6.96 - 47.45	187	5.9	$	27.21

- 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 + Details

Benefit And Retirement Plans

12 Months Ended

Jun. 30, 2017

Benefit And Retirement Plans [Abstract]

Benefit And Retirement Plans

9. BENEFIT AND RETIREMENT PLANS

Defined Contribution and Retirement Plans

The Company sponsors various defined contribution retirement plans, which cover substantially all employees, other than employees covered by multi-employer pension plans under collective bargaining agreements. Total retirement plan expense was $2.3 million, $1.8 million and $2.0 million in fiscal years 2017, 2016 and 2015, respectively. The amounts include $0.8 million, $0.5 million and $0.5 million in fiscal years 2017, 2016 and 2015, for the Company’s matching contribution to retirement savings plans.

Multi-employer Pension Plans

The Company contributes to three multi-employer defined benefit pension plans under the terms of collective-bargaining agreements that cover its union-represented employees. The risks of participating in these multi-employer plans are different from single-employer plans in the following aspects:

Assets contributed to the multi-employer plan by one employer may be used to provide benefits to employees of other participating employers.

If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be shared by the remaining participating employers.

If a participating employer chooses to stop participating in some of its multi-employer plans, the employer may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability.

The Company’s participation in these plans for the annual period ended June 30, 2017, is outlined in the following table. Unless otherwise noted, the most recent Pension Protection Act zone status available in 2017 and 2016 is for the plan’s year-end at December 31, 2016 and 2015, respectively. The zone status is based on information that the Company received from the plan and is certified by the plan’s actuary. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the yellow zone are between 65 percent and 80 percent funded, and plans in the green zone are at least 80 percent funded.



		Pension Protection										Expiration Date	Number of
		Act Zone Status				Company Contributions						of Collective	Company
	EIN/Pension	June 30,		Rehabilitation		(in thousands)					Surcharge	Bargaining	Employees
Pension Fund	Plan Number	2017	2016	Plan Status		2017		2016		2015	Imposed	Agreement	in Plan

Central States Southeast and	36-6044243	Red	Red	Implemented	$	166	$	200	$	248	No	03/31/2018	9
Southwest Areas Pension Fund

Steelworkers Pension Trust	23-6648508	Green	Green	No		308		347		364	No	11/4/2017	171

Central Pension Fund	36-6052390	Green	Green	No		6		6		7	No	2/15/2023	3
					$	480	$	553	$	619

The estimated cumulative cost to exit the Company’s multi-employer plans was approximately $12.3 million on June 30, 2017.

Defined Benefit Plan

The Company’s defined benefit pension plan is frozen. There are a total of 379 participants in the plan. Retirement benefits are based on years of credited service multiplied by a dollar amount negotiated under collective bargaining agreements. The Company’s policy is to fund normal costs and amortization of prior service costs at a level that is equal to or greater than the minimum required under the Employee Retirement Income Security Act of 1974 (ERISA). As of June 30, 2017 and 2016, the Company recorded an accrued benefit liability related to the funded status of the defined benefit pension plan recognized on the Company’s consolidated balance sheets in other long-term liabilities of $0.2 million and $1.6 million, respectively. The accumulated benefit obligation was $8.5 million and $8.9 million at fiscal years ended June 30, 2017 and 2016, respectively. The Company recorded expense of $0.2 million, $0.1 million and $0.1 million during fiscal years 2017, 2016 and 2015, respectively, related to the plan.

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Jun. 30, 2017

Accumulated Other Comprehensive Income (Loss) [Abstract]

Accumulated Other Comprehensive Income (Loss)

10.ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)


The components of accumulated other comprehensive loss, net of income taxes, are as follows:
	June 30,
(in thousands)	2017		2016		2015
Pension and other post-retirement benefit adjustments, net of tax (1)	$	(1,725)	$	(2,203)	$	(1,584)
Available-for-sale securities, net of tax (2)		12		(25)		(152)
Total accumulated other comprehensive loss	$	(1,713)	$	(2,228)	$	(1,736)

(1)

The tax effect on the pension and other post-retirement benefit adjustments is a tax benefit of $1.1 million, $1.4 million and $1.0 million at June 30, 2017, 2016 and 2015, respectively.

(2)

The tax effect on the available-for-sale securities is a tax benefit of $0.0 million, $0.0 million and $0.1 million at June 30, 2017, 2016 and 2015, respectively.

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e689-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=66004124&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e640-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e716-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e709-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e637-108580

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e681-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

Litigation	12 Months Ended
Litigation	Jun. 30, 2017
Litigation [Abstract]
Litigation	11. LITIGATION Indiana Civil Litigation – In December 2013, the Company entered into a confidential agreement to settle the Indiana Civil Litigation. The Company paid $6.25 million to Plaintiffs to settle the matter without admission of wrongdoing. The Company received $1.2 million, $2.3 million and $0.3 million during the fiscal years ended June 30, 2017, 2016 and 2015, respectively, for recovery of litigation settlement costs from insurers. These amounts are recorded as “litigation settlement reimbursements” in the consolidated statements of income. During the fiscal years ended June 30, 2017, 2016 and 2015, the Company recorded $0.3 million, $0.6 million and $0.6 million, respectively, in legal and other related expenses that were incurred responding to the lawsuits and pursuing insurance coverage. These expenses are included in SG&A expense in the consolidated statements of income. During the fiscal years ended June 30, 2017, 2016 and 2015, the Company received approximately $1.2 million, $0.8 million and $0.2 million from insurance carriers to reimburse the Company for certain legal defense costs. These reimbursement amounts are recorded in SG&A as a reduction of legal expenses. The recovery of litigation settlement and defense costs from insurance carriers is complete. Environmental Matters – In March 2016, the Company received a General Notice Letter for the Lane Street Groundwater Superfund Site located in Elkhart, Indiana from the United States Environmental Protection Agency (EPA). In April 2016, the EPA issued their proposed clean-up plan for groundwater pollution and request for public comment. The Company responded to the request for public comment in May 2016. The EPA issued a Record of Decision selecting a remedy in August 2016 and estimated total costs to remediate of $3.6 million. In July 2017, the EPA issued a Special Notice Letter to the Company demanding that the Company perform the remedy selected and pay for the remediation cost and past response costs of $5.5 million. Based on extensive sampling investigation performed on behalf of the Company, the Company believes that the source of the ground water contamination is upgradient of the site formerly owned by the Company. The Company continues to believe that it did not cause or contribute to the contamination. Accordingly, the Company has no recorded liability in the consolidated balance sheets. 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.

Commitments And Contingencies

12 Months Ended

Jun. 30, 2017

Commitments And Contingencies [Abstract]

Commitments And Contingencies

12. COMMITMENTS AND CONTINGENCIES

FACILITY LEASES – the Company leases certain facilities and equipment under various operating leases. These leases require the Company to pay the lease cost, operating costs, including property taxes, insurance, and maintenance. Total lease expense related to the various operating leases was approximately $4.6 million, $4.9 million and $3.8 million in fiscal years 2017, 2016 and 2015, respectively.

Expected future minimum commitments under operating leases as of June 30, 2017 were as follows:



Fiscal Year Ended June 30,
2018		3,853
2019		3,868
2020		3,134
2021		2,444
2022		991
Thereafter		-
	$	14,290

Segment Reporting	12 Months Ended
Segment Reporting	Jun. 30, 2017
Segment Reporting [Abstract]
Segment Reporting	SEGMENT REPORTING – the Company operates in one reportable segment, furniture products. The Company’s operations involve the distribution of manufactured and imported furniture for residential and contract markets. The Company’s furniture products are sold primarily throughout the United States by the Company’s internal sales force and various independent representatives. The Company makes minimal export sales. No single customer accounted for more than 10% of net sales.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599

+ Details

Subsequent Event	12 Months Ended
Subsequent Event	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Event	14. SUBSEQUENT EVENTS As of August 22, 2017, there were no subsequent events.

Supplementary Quarterly Financial Information

12 Months Ended

Jun. 30, 2017

Supplementary Quarterly Financial Information [Abstract]

Supplementary Quarterly Financial Information

13. SUPPLEMENTARY QUARTERLY FINANCIAL INFORMATION – UNAUDITED



(in thousands, except per share amounts)	FOR THE QUARTER ENDED
	September 30		December 31		March 31		June 30
Fiscal 2017:
Net sales	$	112,050	$	118,530	$	120,750	$	117,434
Gross margin		26,630		26,748		28,446		26,827
Litigation settlement reimbursements		-		-		1,175		-
Net income		4,752		5,389		7,624		6,021
Earnings per share:
Basic	$	0.62	$	0.69	$	0.98	$	0.77
Diluted	$	0.61	$	0.68	$	0.97	$	0.76



	FOR THE QUARTER ENDED
	September 30		December 31		March 31		June 30
Fiscal 2016:
Net sales	$	126,531	$	125,410	$	125,401	$	122,764
Gross margin		27,869		27,684		28,716		29,430
Litigation settlement reimbursements		-		250		2,030		-
Net income (1)		5,763		5,366		6,944		6,164
Earnings per share:
Basic	$	0.77	$	0.71	$	0.91	$	0.80
Diluted	$	0.75	$	0.69	$	0.89	$	0.79

(1)

The quarter ended June 30, 2016 reflects a change in the measurement of uncertain tax positions of $1.0 million (before tax).

Schedule II: Valuation And Qualifying Accounts

12 Months Ended

Jun. 30, 2016

Schedule II: Valuation And Qualifying Accounts [Abstract]

Schedule II: Valuation And Qualifying Accounts

SCHEDULE II

VALUATION AND QUALIFYING ACCOUNTS

For the Years Ended June 30, 2017, 2016 and 2015


(in thousands) Description		Balance at Beginning of Year		(Additions) Reductions to Income		Additions to (Deductions from) Reserves		Balance at End of Year
Accounts Receivable Allowances:
2017………………….	$	1,300	$	70	$	(170)	$	1,200
2016..............................		1,400	$	(10)	$	(90)	$	1,300
2015..............................	$	1,370		72	$	(42)	$	1,400

Summary Of Significant Accounting Policies (Policies)

12 Months Ended

Jun. 30, 2017

Summary Of Significant Accounting Policies [Abstract]

Principles Of Consolidation

PRINCIPLES OF CONSOLIDATION – the consolidated financial statements include the accounts of Flexsteel Industries, Inc. and its wholly owned subsidiaries. All intercompany transactions and accounts have been eliminated in consolidation. The Company’s consolidated financial statements and results of operations are based on consolidated financial statements prepared in accordance with GAAP in the United States of America.

Use Of Estimates

USE OF ESTIMATES – the preparation of consolidated financial statements in conformity with GAAP in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Ultimate results could differ from those estimates.

Fair Value

FAIR VALUE – the Company’s cash and cash equivalents, investments, accounts receivable, other current assets, accounts payable, notes payable and certain accrued liabilities are carried at amounts which reasonably approximate their fair value due to their short-term nature. GAAP on fair value measurement for certain financial assets and liabilities require that each asset and liability carried at fair value be classified into one of the following categories: Level 1: Quoted market prices in active markets for identical assets and liabilities; Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data; or Level 3: Unobservable inputs that are not corroborated by market data. The Company has not changed its valuation techniques in measuring the fair value of any financial assets and liabilities during the period.

Investment

INVESTMENTS – during fiscal year 2017, the Company purchased available-for-sale securities, U.S. Treasury Bills and U. S. Agencies, which are recorded at fair market value. These securities are classified as “Investments” in the consolidated balance sheets. Unrealized gains or losses are recorded in “Accumulated other comprehensive loss.” As of June 30, 2017, the fair market value and book value of the investments are $18.0 million. These assets are classified as Level 1 in accordance with fair value measurements described above.

Allowance For Doubtful Accounts

ACCOUNTS RECEIVABLE ALLOWANCES – the Company establishes accounts receivable allowances to reduce trade accounts receivable to an amount that reasonably approximates their net realizable value. The Company’s accounts receivable allowances consist of an allowance for doubtful accounts which is established through review of open accounts, historical collection, and historical write-off amounts and an allowance for estimated returns on sales of the Company’s products which is based on historical product returns, as well as existing product return authorizations. The Company records a provision against revenue for estimated returns on sales of our products in the same period that the related revenues are recognized. The amount ultimately realized from trade accounts receivable may differ from the amount estimated in the consolidated financial statements.

Inventories

INVENTORIES – are stated at the lower of cost or net realizable value, utilizing the first‑in, first‑out (“FIFO”) method.

Property, Plant And Equipment

PROPERTY, PLANT AND EQUIPMENT – is stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets.

Valuation Of Long-Lived Assets

VALUATION OF LONG–LIVED ASSETS – the Company periodically reviews the carrying value of long-lived assets and estimated depreciable or amortizable lives for continued appropriateness. This review is based upon projections of anticipated future cash flows and is performed whenever events or changes in circumstances indicate that asset carrying values may not be recoverable or that the estimated depreciable or amortizable lives may have changed. No impairments of long-lived assets or changes in depreciable or amortizable lives were incurred during fiscal years 2017, 2016 and 2015.

Warranty

WARRANTY – the Company estimates the amount of warranty claims on sold product that may be incurred based on current and historical data. The actual warranty expense could differ from the estimates made by the Company based on product performance.

Revenue Recognition

REVENUE RECOGNITION – is when both product ownership and the risk of loss have transferred to the customer, collectability is reasonably assured, and the Company has no remaining obligations. The Company’s ordering process creates persuasive evidence of the sale arrangement and the sales price is determined. The delivery of the goods to the customer completes the earnings process. Net sales consist of product sales and related delivery charge revenue, net of adjustments for returns and allowances. Shipping and handling costs are included in cost of goods sold.

Advertising Costs

ADVERTISING COSTS – are charged to selling, general and administrative expense in the periods incurred. The Company conducts no direct-response advertising programs and there are no assets related to advertising recorded on the consolidated balance sheets. Advertising expenditures, primarily shared customer advertising in which an identifiable benefit is received and national trade-advertising programs, were approximately $7.3 million, $7.5 million and $6.9 million in fiscal years 2017, 2016 and 2015, respectively.

Design, Research And Development Costs

DESIGN, RESEARCH AND DEVELOPMENT COSTS – are charged to selling, general and administrative expense in the periods incurred. Expenditures for design, research and development costs were approximately $3.7 million, $4.2 million and $4.1 million in fiscal 2017, 2016 and 2015, respectively.

Insurance

INSURANCE – the Company is self-insured for health care and most workers’ compensation up to predetermined amounts above which third party insurance applies. The Company purchases specific stop-loss insurance for individual health care claims in excess of $150,000 per plan year. For workers’ compensation the Company retains the first $450,000 per claim and purchases excess coverage up to the statutory limits for amounts in excess of the retention limit. Losses are accrued based upon the Company’s estimates of the aggregate liability for claims incurred using certain actuarial assumptions followed in the insurance industry and based on Company experience. The Company records these insurance accruals within “Accrued liabilities – insurance” account on the Consolidated Balance Sheets.

Income Taxes

INCOME TAXES – the Company uses the liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company recognizes in its financial statements the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position.

Earnings (Loss) Per Share

EARNINGS PER SHARE (EPS) – basic earnings per share (EPS) of common stock is based on the weighted-average number of common shares outstanding during each fiscal year. 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, shares associated with the long-term management incentive compensation plan and non-vested shares. 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 and non-vested shares 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 fiscal years 2017, 2016 and 2015, net income as reported for each respective period is divided by the fully diluted weighted average number of shares outstanding:




	June 30,
(in thousands)	2017	2016	2015

Basic shares	7,782	7,595	7,423

Potential common shares:
Stock options	86	120	255
Long-term incentive plan	18	50	30
	104	170	285

Diluted shares	7,886	7,765	7,708

Anti-dilutive shares	-	26	-

Stock-Based Compensation

STOCK–BASED COMPENSATION – the Company recognizes compensation expense related to the cost of employee services received in exchange for Company equity interests based on the award’s fair value at the date of grant. See Note 8 Stock-Based Compensation.

Segment Reporting

SEGMENT REPORTING – the Company operates in one reportable segment, furniture products. The Company’s operations involve the distribution of manufactured and imported furniture for residential and contract markets. The Company’s furniture products are sold primarily throughout the United States by the Company’s internal sales force and various independent representatives. The Company makes minimal export sales. No single customer accounted for more than 10% of net sales.

New Accounting Pronouncements, Policy

ACCOUNTING DEVELOPMENTS – In July 2015, the FASB issued Inventory, Topic 330: Simplifying the Measurement of Inventory (ASU 2015-11), which affects inventory balances measured using the first-in, first-out (FIFO) or average cost methods. ASU 2015-11 requires entities to measure most inventories at the lower of cost and net realizable value, thereby simplifying the current guidance under which an entity must measure inventory at the lower of cost or market. ASU 2015-11 is effective for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. The Company elected to early adopt ASU 2015-11 on June 30, 2017, on a prospective basis. The adoption of this guidance did not have a material effect on the Company’s consolidated financial statements.

New Accounting Pronouncements Not yet Adopted

In May 2014, the Financial Accounting Standards Board issued Revenue from Contracts with Customers, Topic 606 (Accounting Standards Update (ASU) No. 2014-09), which provides a framework for the recognition of revenue, with the objective that recognized revenues properly reflect amounts an entity is entitled to receive in exchange for goods and services. This guidance, which includes additional disclosure requirements regarding revenue, cash flows and obligations related to contracts with customers, was originally to be effective for the Company beginning in fiscal year 2018. In July 2015, the FASB confirmed a one year deferral of the effective date of the new revenue standard which also allows early adoption as of the original effective date. The updated guidance will be effective for the Company’s first quarter of 2019. The Company is currently evaluating the impact of adopting ASU 2014-09 on its consolidated financial statements.

In February 2016, the FASB issued Leases (ASU 2016-02), which amends ASC Topic 842. ASU 2016-02 introduces a new lessee model where substantially all leases will be brought onto the balance sheet. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of adopting ASU 2016-02 on its consolidated financial statements.

In March 2016, the FASB issued Improvements to Employee Share-Based Payment Accounting (ASU 2016-09), which amends ASC Topic 718, Compensation – Stock Compensation. ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. Early adoption is permitted. The Company is currently in the process of evaluating the impact of adopting ASU 2016-09 on its consolidated financial statements.

Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2017

Summary Of Significant Accounting Policies [Abstract]

Schedule of Earnings Per Share, Basic and Diluted




	June 30,
(in thousands)	2017	2016	2015

Basic shares	7,782	7,595	7,423

Potential common shares:
Stock options	86	120	255
Long-term incentive plan	18	50	30
	104	170	285

Diluted shares	7,886	7,765	7,708

Anti-dilutive shares	-	26	-

Inventories (Tables)

12 Months Ended

Jun. 30, 2017

Inventories [Abstract]

Comparison Of Inventories



(in thousands)	June 30,
	2017		2016
Raw materials	$	15,043	$	12,893
Work in process and finished parts		7,047		5,810
Finished goods		77,307		67,201
Total	$	99,397	$	85,904

Property, Plant And Equipment (Tables)

12 Months Ended

Jun. 30, 2017

Property, Plant and Equipment [Abstract]

Schedule Of Property, Plant And Equipment



(in thousands)	Estimated	June 30,
	Life (Years)	2017		2016
Land		$	6,987	$	7,279
Buildings and improvements	5-39		70,741		72,900
Machinery and equipment	3-7		33,441		34,015
Delivery equipment	3-5		20,866		21,979
Furniture and fixtures	3-7		4,474		4,509
Computer software and hardware	3-10		18,903		6,370
Total			155,412		147,052
Less accumulated depreciation			(84,751)		(82,928)
Net		$	70,661	$	64,124

Other Noncurrent Assets (Tables)

12 Months Ended

Jun. 30, 2017

Other Noncurrent Assets [Abstract]

Schedule Of Other Noncurrent Assets



(in thousands)	June 30,
	2017		2016
Cash value of life insurance	$	989	$	965
Other		1,405		1,704
Total	$	2,394	$	2,669

Accrued Liabilities - Other (Tables)

12 Months Ended

Jun. 30, 2017

Accrued Liabilities - Other [Abstract]

Schedule Of Accrued Liabilities - Other



(in thousands)	June 30,
	2017		2016
Advertising	$	3,883	$	4,068
Dividends		1,564		1,386
Warranty		1,080		1,070
Other		2,232		3,572
Total	$	8,759	$	10,096

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2017

Income Taxes [Abstract]

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



	June 30,
(in thousands)	2017		2016
Gross unrecognized tax benefits	$	320	$	610
Accrued interest and penalties		130		250
Gross liabilities related to unrecognized tax benefits	$	450	$	860

Deferred tax assets	$	130	$	250

Reconciliation Of The Beginning And Ending Amount Of Unrecognized Tax Benefits




(in thousands)		2017		2016		2015
Balance at July 1	$	610	$	1,580	$	1,290
Additions based on tax positions related to the current year		130		45		390
Additions for tax positions of prior years		-		-		-
Reductions for tax positions of prior years		(420)		(1,015)		(100)
Balance at June 30	$	320	$	610	$	1,580

Income Tax Provision (Benefit)



(in thousands)	2017		2016		2015
Federal - current	$	11,015	$	9,343	$	11,725
State and other - current		1,179		1,616		930
Deferred		1,606		2,731		605
Total	$	13,800	$	13,690	$	13,260

Reconciliation Between The U.S. Federal Statutory Tax Rate And The Effective Tax Rate



	2017		2016		2015
Federal statutory tax rate	35.0	%	35.0	%	35.0	%
State taxes, net of federal effect	2.7		3.8		2.6
Other	(1.0)		(2.7)		(0.3)
Effective tax rate	36.7	%	36.1	%	37.3	%

Primary Components Of Deferred Tax Assets And (Liabilities)


	June 30,
(in thousands)	2017		2016
Accounts receivable	$	460	$	490
Inventory		(50)		500
Self-insurance		560		660
Payroll and related		1,690		3,120
Accrued liabilities		1,240		1,100
Property, plant and equipment		(2,850)		(3,080)
Investment tax credit		1,930		1,990
Valuation allowance		(1,390)		(1,380)
Other		150		260
Total	$	1,740	$	3,660

Stock-Based Compensation (Tables)

12 Months Ended

Jun. 30, 2017

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule Of Stock Option Plans



					Aggregate
	Shares		Weighted Average		Intrinsic Value
	(in thousands)		Exercise Price		(in thousands)
Outstanding and exercisable at June 30, 2015	457		17.02	$	11,916
Granted	26		43.09
Exercised	(207)		12.68
Canceled	(6)		22.32
Outstanding and exercisable at June 30, 2016	270		22.85	$	4,638
Granted	24		47.45
Exercised	(98)		20.57
Canceled	(9)		20.51
Outstanding and exercisable at June 30, 2017	187	$	27.21	$	5,039

Schedule Of Options Outstanding And Exercisable



			Weighted Average
	Range of	Options	Remaining		Exercise
	Prices	Outstanding	Life (Years)		Price
		(in thousands)
$	6.96 - 13.90	38	2.4	$	12.13
	17.23 - 19.77	34	4.5		18.54
	20.50 - 27.57	40	6.1		25.72
	31.06 - 32.13	33	7.4		31.60
	43.09 - 47.45	42	8.7		45.52
$	6.96 - 47.45	187	5.9	$	27.21

New Long-Term Management Incentive Compensation Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule Of Aggregate Number Of Shares And Cash That Could Be Awarded To Key Executives


(in thousands)
Performance Period	Minimum	Target		Maximum
Fiscal Year 2015 - 2017	11		28	55
Fiscal Year 2016 - 2018	9		23	45
Fiscal Year 2017 - 2019	11		27	52

Benefit And Retirement Plans (Tables)

12 Months Ended

Jun. 30, 2017

Multiemployer Plans [Abstract]

Schedule Of Multiemployer Plans



		Pension Protection										Expiration Date	Number of
		Act Zone Status				Company Contributions						of Collective	Company
	EIN/Pension	June 30,		Rehabilitation		(in thousands)					Surcharge	Bargaining	Employees
Pension Fund	Plan Number	2017	2016	Plan Status		2017		2016		2015	Imposed	Agreement	in Plan

Central States Southeast and	36-6044243	Red	Red	Implemented	$	166	$	200	$	248	No	03/31/2018	9
Southwest Areas Pension Fund

Steelworkers Pension Trust	23-6648508	Green	Green	No		308		347		364	No	11/4/2017	171

Central Pension Fund	36-6052390	Green	Green	No		6		6		7	No	2/15/2023	3
					$	480	$	553	$	619

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Jun. 30, 2017

Accumulated Other Comprehensive Income (Loss) [Abstract]

Components Of Accumulated Other Comprehensive Loss


The components of accumulated other comprehensive loss, net of income taxes, are as follows:
	June 30,
(in thousands)	2017		2016		2015
Pension and other post-retirement benefit adjustments, net of tax (1)	$	(1,725)	$	(2,203)	$	(1,584)
Available-for-sale securities, net of tax (2)		12		(25)		(152)
Total accumulated other comprehensive loss	$	(1,713)	$	(2,228)	$	(1,736)

Commitments And Contingencies (Tables)

12 Months Ended

Jun. 30, 2017

Commitments And Contingencies [Abstract]

Expected Future Minimum Commitments Under Operating Leases



Fiscal Year Ended June 30,
2018		3,853
2019		3,868
2020		3,134
2021		2,444
2022		991
Thereafter		-
	$	14,290

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

+ References + Details

Supplementary Quarterly Financial Information (Tables)

12 Months Ended

Jun. 30, 2017

Supplementary Quarterly Financial Information [Abstract]

Supplementary Quarterly Financial Information



(in thousands, except per share amounts)	FOR THE QUARTER ENDED
	September 30		December 31		March 31		June 30
Fiscal 2017:
Net sales	$	112,050	$	118,530	$	120,750	$	117,434
Gross margin		26,630		26,748		28,446		26,827
Litigation settlement reimbursements		-		-		1,175		-
Net income		4,752		5,389		7,624		6,021
Earnings per share:
Basic	$	0.62	$	0.69	$	0.98	$	0.77
Diluted	$	0.61	$	0.68	$	0.97	$	0.76



	FOR THE QUARTER ENDED
	September 30		December 31		March 31		June 30
Fiscal 2016:
Net sales	$	126,531	$	125,410	$	125,401	$	122,764
Gross margin		27,869		27,684		28,716		29,430
Litigation settlement reimbursements		-		250		2,030		-
Net income (1)		5,763		5,366		6,944		6,164
Earnings per share:
Basic	$	0.77	$	0.71	$	0.91	$	0.80
Diluted	$	0.75	$	0.69	$	0.89	$	0.79

The quarter ended June 30, 2016 reflects a change in the measurement of uncertain tax positions of $1.0 million (before tax).

Summary Of Significant Accounting Policies (Details) - USD ($) shares in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Summary Of Significant Accounting Policies [Abstract]
Investments	$ 17,958,000
Advertising expenditures	7,300,000	$ 7,500,000	$ 6,900,000
Design, research and development costs	3,700,000	$ 4,200,000	$ 4,100,000
Health care claims threshold for third party insurance	150,000
Workers' compensation threshold for third party insurance	$ 450,000
Potential common shares outstanding	18	50	30
Outstanding options to purchase common stock	86	120	255

Summary Of Signficant Accounting Policies - Computation of Earnings Per Share (Details) - shares shares in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Summary Of Significant Accounting Policies [Abstract]
Basic	7,782	7,595	7,423
Stock options	86	120	255
Long-term incentive plan	18	50	30
Potential common shares, total	104	170	285
Diluted	7,886	7,765	7,708
Anti-dilutive shares		26

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Inventories [Abstract]
Raw materials	$ 15,043	$ 12,893
Work in process and finished parts	7,047	5,810
Finished goods	77,307	67,201
Total inventories	$ 99,397	$ 85,904

Property, Plant And Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Property, Plant and Equipment [Line Items]
Total	$ 155,412	$ 147,052
Less accumulated depreciation	(84,751)	(82,928)
Net	70,661	64,124
Land [Member]
Property, Plant and Equipment [Line Items]
Total	6,987	7,279
Buildings And Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Total	70,741	72,900
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total	33,441	34,015
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Total	18,903	6,370
Delivery Equipment [Member]
Property, Plant and Equipment [Line Items]
Total	20,866	21,979
Furniture And Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total	4,474	$ 4,509
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Property, Plant and Equipment [Line Items]
Inventory, Land Held-for-sale	$ 4,300
Minimum [Member] \| Buildings And Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated Life (Years)	5 years
Minimum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Life (Years)	3 years
Minimum [Member] \| Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Life (Years)	3 years
Minimum [Member] \| Delivery Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Life (Years)	3 years
Minimum [Member] \| Furniture And Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated Life (Years)	3 years
Maximum [Member] \| Buildings And Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated Life (Years)	39 years
Maximum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Life (Years)	7 years
Maximum [Member] \| Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Life (Years)	10 years
Maximum [Member] \| Delivery Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Life (Years)	5 years
Maximum [Member] \| Furniture And Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated Life (Years)	7 years

Other Noncurrent Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Other Noncurrent Assets [Abstract]
Cash value of life insurance	$ 989	$ 965
Other	1,405	1,704
Total	$ 2,394	$ 2,669

Accrued Liabilities - Other (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Accrued Liabilities - Other [Abstract]
Dividends	$ 1,564	$ 1,386
Advertising	3,883	4,068
Warranty	1,080	1,070
Other	2,232	3,572
Total	$ 8,759	$ 10,096

Credit Arrangements (Details) $ in Millions	12 Months Ended
Credit Arrangements (Details) $ in Millions	Jun. 30, 2017 USD ($)
Letter Of Credit [Member]
Line of Credit Facility [Line Items]
Credit agreement capacity	$ 4.0
Line of Credit Facility, Amount Outstanding	1.3
Unsecured [Member]
Line of Credit Facility [Line Items]
Credit agreement capacity	$ 10.0
Interest rate under prime rate	2.00%
Line of Credit Facility, Amount Outstanding	$ 0.0
Line of Credit Facility, Interest Rate at Period End	2.25%
Line Of Credit [Member]
Line of Credit Facility [Line Items]
Credit agreement capacity	$ 10.0
Interest rate over LIBOR	1.00%
Line of Credit Facility, Amount Outstanding	$ 0.0
Line of Credit Facility, Remaining Borrowing Capacity	$ 8.7
Line of Credit Facility, Interest Rate at Period End	2.22%

Income Taxes (Narrative) (Details)	12 Months Ended
Income Taxes (Narrative) (Details)	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Income Taxes [Abstract]
Effective income tax rate	36.70%	36.10%	37.30%

Income Taxes (Components Of The Gross Liabilities Related To Unrecognized Tax Benefits And The Related Deferred Tax Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Income Taxes [Abstract]
Gross unrecognized tax benefits	$ 320	$ 610	$ 1,580	$ 1,290
Accrued interest and penalties	130	250
Gross liabilities related to unrecognized tax benefits	450	860
Deferred tax assets	$ 130	$ 250

Income Taxes (Reconciliation Of The Beginning And Ending Amount Of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Income Taxes [Abstract]
Balance	$ 610	$ 1,580	$ 1,290
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions	130	45	390
Reduction for tax positions of prior years	(420)	(1,015)	(100)
Additions for tax positions of prior years
Balance	$ 320	$ 610	$ 1,580

Income Taxes (Income Tax Provision (Benefit)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Income Taxes [Abstract]
Federal - current	$ 11,015	$ 9,343	$ 11,725
State - current	1,179	1,616	930
Deferred	1,606	2,731	605
Total	$ 13,800	$ 13,690	$ 13,260

Income Taxes (Reconciliation Between The U.S. Federal Statutory Tax Rate And The Effective Tax Rate) (Details)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Income Taxes [Abstract]
Federal statutory tax rate	35.00%	35.00%	35.00%
State taxes, net of federal effect	2.70%	3.80%	2.60%
Other	(1.00%)	(2.70%)	(0.30%)
Effective tax rate	36.70%	36.10%	37.30%

Income Taxes (Primary Components Of Deferred Tax Assets And (Liabilities)) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Components Of Deferred Tax Assets And Liabilities [Line Items]
Long-term	$ 1,740	$ 3,660
Accounts Receivable [Member]
Components Of Deferred Tax Assets And Liabilities [Line Items]
Long-term	460	490
Inventory [Member]
Components Of Deferred Tax Assets And Liabilities [Line Items]
Long-term	(50)	500
Self Insurance [Member]
Components Of Deferred Tax Assets And Liabilities [Line Items]
Long-term	560	660
Payroll and Related [Member]
Components Of Deferred Tax Assets And Liabilities [Line Items]
Long-term	1,690	3,120
Accrued Liabilities [Member]
Components Of Deferred Tax Assets And Liabilities [Line Items]
Long-term	1,240	1,100
Property, Plant and Equipment [Member]
Components Of Deferred Tax Assets And Liabilities [Line Items]
Long-term	(2,850)	(3,080)
Investment Tax Credit [Member]
Components Of Deferred Tax Assets And Liabilities [Line Items]
Long-term	1,930	1,990
Valuation Allowance [Member]
Components Of Deferred Tax Assets And Liabilities [Line Items]
Long-term	(1,390)	(1,380)
Other [Member]
Components Of Deferred Tax Assets And Liabilities [Line Items]
Long-term	$ 150	$ 260

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended			36 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Excess tax benefit from stock-based payment arrangements	$ 1,494	$ 1,761	$ (817)	$ 0
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued	6,997	6,208
Compensation cost	$ 400	$ 300
Stock Option Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for performance awards, years	10 years
Compensation cost				$ 0
Options issued under stock option plans				0
Excess tax benefit from stock-based payment arrangements	$ 600	1,600	400
Proceeds from Stock Options Exercised	$ 400	1,500	1,600
New Long-Term Management Incentive Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares approved to be issued under plan	700,000			700,000
Shares issued	61,969
Compensation cost	$ 900	1,100	1,100
New Long-Term Management Incentive Compensation Plan [Member] \| 2015-2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	900
New Long-Term Management Incentive Compensation Plan [Member] \| 2016-2018[Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	1,000
New Long-Term Management Incentive Compensation Plan [Member] \| 2017-2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	$ 1,100
New Omnibus Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares approved to be issued under plan	700,000			700,000
Compensation cost	$ 300	$ 200	$ 400
Period options are excercisable	10 years
Options issued under stock option plans	24,317	25,868	48,600
Weighted average exercise price of options	$ 47.45	$ 43.09	$ 31.48	$ 47.45
Dividend yield	1.50%	1.60%	2.00%
Expected volatility	30.80%	26.00%	29.90%
Risk-free interest rate	1.20%	1.60%	1.60%
Expected life	5 years
Weighted average grant date fair value	$ 11.76	$ 9.20	$ 7.33
Shares available for future grants	537,762			537,762
Proceeds from Stock Options Exercised	$ 700	$ 100	$ 100
Minimum [Member] \| 2015-2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants	11,000			11,000
Minimum [Member] \| 2016-2018[Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants	9,000			9,000
Minimum [Member] \| 2017-2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants	11,000			11,000
Target [Member] \| 2015-2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants	28,000			28,000
Target [Member] \| 2016-2018[Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants	23,000			23,000
Target [Member] \| 2017-2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants	27,000			27,000
Maximum [Member] \| 2015-2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants	55,000			55,000
Maximum [Member] \| 2016-2018[Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants	45,000			45,000
Maximum [Member] \| 2017-2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants	52,000			52,000

Stock-Based Compensation (Schedule Of Aggregate Number Of Shares And Cash That Could Be Awarded To Key Executives) (Details) shares in Thousands	Jun. 30, 2017 shares
2015-2017 [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares	11
2015-2017 [Member] \| Target [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares	28
2015-2017 [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares	55
2016-2018[Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares	9
2016-2018[Member] \| Target [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares	23
2016-2018[Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares	45

Stock-Based Compensation (Schedule Of Stock Option Plans) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Stock-Based Compensation [Abstract]
Shares, Outstanding and exercisable	270	457
Shares, Granted	24	26
Shares, Exercised	(98)	(207)
Shares, Canceled	(9)	(6)
Shares, Outstanding and exercisable	187	270
Weighted Average Exercise Price, Oustanding and exercisable	$ 22.85	$ 17.02
Weighted Average Exercise Price, Granted	47.45	43.09
Weighted Average Exercise Price, Exercised	20.57	12.68
Weighted Average Exercise Price, Canceled	20.51	22.32
Weighted Average Exercise Price, Oustanding and exercisable	$ 27.21	$ 22.85
Aggregate Intrinsic Value	$ 5,039	$ 4,638	$ 11,916

Stock-Based Compensation (Schedule Of Options Outstanding And Exercisable) (Details) shares in Thousands	12 Months Ended
	Jun. 30, 2017 $ / shares shares
6.96 - 13.90 [Member]
Share-Based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range [Line Items]
Range of Price Lower	$ 6.96
Range of Price Upper	$ 13.90
Options Outstanding \| shares	38
Weighted Average Remaining Life, Years	2 years 4 months 24 days
Weighted Average Exercise Price	$ 12.13
17.23 - 19.77 [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	$ 19.77
Options Outstanding \| shares	34
Weighted Average Remaining Life, Years	4 years 6 months
Weighted Average Exercise Price	$ 18.54
20.50 - 27.57 [Member]
Share-Based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range [Line Items]
Range of Price Lower	20.50
Range of Price Upper	$ 27.57
Options Outstanding \| shares	40
Weighted Average Remaining Life, Years	6 years 1 month 6 days
Weighted Average Exercise Price	$ 25.72
31.06 - 32.13 [Member]
Share-Based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range [Line Items]
Range of Price Lower	31.06
Range of Price Upper	$ 32.13
Options Outstanding \| shares	33
Weighted Average Remaining Life, Years	7 years 4 months 24 days
Weighted Average Exercise Price	$ 31.60
43.09 - 47.45 [Member]
Share-Based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range [Line Items]
Range of Price Lower	43.09
Range of Price Upper	$ 47.45
Options Outstanding \| shares	42
Weighted Average Remaining Life, Years	8 years 8 months 12 days
Weighted Average Exercise Price	$ 45.52
6.96 - 47.45 [Member]
Share-Based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range [Line Items]
Range of Price Lower	6.96
Range of Price Upper	$ 47.45
Options Outstanding \| shares	187
Weighted Average Remaining Life, Years	5 years 10 months 24 days
Weighted Average Exercise Price	$ 27.21

Benefit And Retirement Plans (Narrative) (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2017 USD ($) employee	Jun. 30, 2016 USD ($)	Jun. 30, 2015 USD ($)
Benefit And Retirement Plans [Abstract]
Total pension and retirement plan expense	$ 2,300	$ 1,800	$ 2,000
Company's matching contribution to retirement savings plans	800	500	500
Contributed to multi-employer defined benefit pension plans	480	553	619
Cumulative cost to exit multi-employer plans	$ 12,300
Number of plan participants \| employee	379
Accrued benefit liability	$ 200	1,600
Accumulated benefit obligation	8,500	8,900
Pension plan expense	$ 200	$ 100	$ 100

Benefit And Retirement Plans (Schedule Of Multiemployer Plans) (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2017 USD ($)	Jun. 30, 2016 USD ($)	Jun. 30, 2015 USD ($)
Multiemployer Plans [Line Items]
Multiemployer Plan, Period Contributions	$ 480	$ 553	$ 619
Central States SE and SW Areas Pension Fund [Member]
Multiemployer Plans [Line Items]
Multiemployer Plan, number of employees	9
Entity Tax Identification Number	366044243
Multiemployer Plans, Certified Zone Status	Red	Red
Multiemployer Plans, Funding Improvement Plan and Rehabilitation Plan	Implemented
Multiemployer Plan, Period Contributions	$ 166	$ 200	$ 248
Multiemployer Plans, Surcharge		No
Multiemployer Plans, Collective-Bargaining Arrangement, Expiration Date			Mar. 31, 2018
Steelworkers Pension Trust [Member]
Multiemployer Plans [Line Items]
Multiemployer Plan, number of employees	171
Entity Tax Identification Number	236648508
Multiemployer Plans, Certified Zone Status	Green	Green
Multiemployer Plans, Funding Improvement Plan and Rehabilitation Plan	No
Multiemployer Plan, Period Contributions	$ 308	$ 347	$ 364
Multiemployer Plans, Surcharge		No
Multiemployer Plans, Collective-Bargaining Arrangement, Expiration Date			Nov. 04, 2017
Central Pension Fund [Member]
Multiemployer Plans [Line Items]
Multiemployer Plan, number of employees	3
Entity Tax Identification Number	366052390
Multiemployer Plans, Certified Zone Status	Green	Green
Multiemployer Plans, Funding Improvement Plan and Rehabilitation Plan	No
Multiemployer Plan, Period Contributions	$ 6	$ 6	$ 7
Multiemployer Plans, Surcharge		No
Multiemployer Plans, Collective-Bargaining Arrangement, Expiration Date			Feb. 15, 2023

Accumulated Other Comprehensive Income (Loss) (Components Of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Accumulated Other Comprehensive Income (Loss) [Abstract]
Available-for-sale securities	$ (1,725)	$ (2,203)	$ (1,584)
Pension and other post-retirement benefit adjustments	12	(25)	(152)
Total accumulated other comprehensive loss	$ (1,713)	$ (2,228)	$ (1,736)

Litigation (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
Litigation (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015	Jul. 31, 2017	Aug. 31, 2016
Legal and other related expenses					$ 300	$ 600	$ 600
Insurance reimbursements					1,200	800	200
Litigation Settlement Reimbursements		$ 1,175	$ 2,030	$ 250	1,175	$ 2,280	$ 250
Environmental Issue [Member]
Loss Contingency, Estimate of Possible Loss								$ 5,500	$ 3,600
Estimated Litigation Liability	$ 0				$ 0

Commitments And Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Commitments And Contingencies [Abstract]
2017	$ 3,853
2018	3,868
2019	3,134
2020	2,444
2021	991
Thereafter
Total	14,290
Lease expense	$ 4,600	$ 4,900	$ 3,800

Supplementary Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Supplementary Quarterly Financial Information [Abstract]
Net sales	$ 117,434	$ 120,750	$ 118,530	$ 112,050	$ 122,764	$ 125,401	$ 125,410	$ 126,531	$ 468,764	$ 500,106	$ 466,904
Gross margin	26,827	28,446	26,748	26,630	29,430	28,716	27,684	27,869	108,651	113,699	109,860
Litigation Settlement Reimbursements		1,175				2,030	250		1,175	2,280	250
Net income (1)	$ 6,021	$ 7,624	$ 5,389	$ 4,752	$ 6,164	$ 6,944	$ 5,366	$ 5,763	$ 23,786	$ 24,237	$ 22,299
Earnings per share: Basic	$ 0.77	$ 0.98	$ 0.69	$ 0.62	$ 0.80	$ 0.91	$ 0.71	$ 0.77	$ 3.06	$ 3.19	$ 3.00
Earnings per share: Diluted	$ 0.76	$ 0.97	$ 0.68	$ 0.61	$ 0.79	$ 0.89	$ 0.69	$ 0.75	$ 3.02	$ 3.12	$ 2.89

Schedule II: Valuation And Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Schedule II: Valuation And Qualifying Accounts [Abstract]
Balance At Beginning Of Year	$ 1,300	$ 1,400	$ 1,370
(Additions) Reductions to Income	70	(10)	72
Additions to (Deductions from) Reserves	(170)	(90)	(42)
Balance At End Of Year	$ 1,200	$ 1,300	$ 1,400