Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.20.2
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Schedule of Future Undiscounted Cash Flows for Each of Next Five Years and Thereafter and Reconciliation to Lease Liabilities

The following represents our future undiscounted cash flows for each of the next five years and thereafter and reconciliation to the lease liabilities, as of June 30, 2020:

 

Years ending June 30,

 

Operating

Leases

 

 

2021

 

 

1,526

 

 

2022

 

 

1,313

 

 

2023

 

 

834

 

 

2024

 

 

860

 

 

2025

 

 

816

 

 

Thereafter

 

 

368

 

 

Total lease payments

 

 

5,717

 

 

Less imputed interest

 

 

(608

)

 

 

 

$

5,109

 

(1)

Operating lease liability – current

 

$

1,307

 

(2)

Operating lease liability - long-term

 

 

3,802

 

(3)

 

 

$

5,109

 

(1)

 

 

(1)

Represents the present value of the capitalized operating lease liabilities as of June 30, 2020.

(2)

Current operating lease liabilities are presented within accrued liabilities on our consolidated balance sheets.

(3)

Long-term operating lease liabilities are presented within other liabilities on our consolidated balance sheets.

Summary of Future Minimum Operating Lease Commitments

Following is a summary of our future minimum operating lease commitments, as determined under ASC 840, for all non-cancelable lease agreements, for each of the next five years and in the aggregate, as of June 30, 2019:

 

Years ending June 30,

 

Operating

Leases

 

2020

 

$

1,488

 

2021

 

 

1,526

 

2022

 

 

1,313

 

2023

 

 

834

 

2024

 

 

860

 

Thereafter

 

 

1,184

 

 

 

$

7,205

 

Reconciliation of Shares Used in Calculating Basic and Diluted Earnings per Common Shares

A reconciliation of shares used in calculating basic and diluted earnings per common shares for the years ended June 30, 2020 and 2019, is presented below.

 

in thousands

 

 

 

 

 

 

 

 

 

 

Years Ended

 

 

 

June 30,

2020

 

 

June 30,

2019

 

Basic weighted average shares outstanding

 

 

7,032

 

 

 

7,031

 

Effect of common stock equivalents — stock issuable

   under outstanding equity awards

 

 

49

 

 

 

54

 

Diluted weighted average shares outstanding

 

 

7,081

 

 

 

7,085