0001437749-24-028638 | 10-K | XBRL Viewer

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

	2024			2023
United States	$	(6,213	)	$	683
Foreign		21,580			13,782
	$	15,367		$	14,465

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	2024			2023
Currently payable:
Federal	$	7		$	72
State		66			(5	)
Foreign		4,608			4,355
		4,681			4,422
Deferred:
Federal	$	10		$	-
State		(2	)		(47	)
Foreign		(568	)		(587	)
		(560	)		(634	)
	$	4,121		$	3,788

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	2024			2023
Deferred tax assets:
Retirement plans and employee benefits	$	4,683		$	4,234
Foreign tax credit carryforwards		8,347			7,983
Federal tax credits, net of ASU 2013-11		1,683			1,724
State net operating loss and other state creditcarryforwards, net of ASU 2013-11		2,226			2,143
Federal net operating loss		4,042			4,489
Reserves		931			774
Inventories		93			-
Research & experimental expenditure capitalization		816			588
Foreign net operating loss carryforwards		52			-
Accruals		1,081			936
Right of use assets - operating leases		4,038			3,501
Disallowed interest		1,384			1,062
Capital loss carryforward		108			108
Translation adjustment		565			494
Other assets		108			115
		30,157			28,151
Valuation allowance		(24,035	)		(22,345	)
	$	6,122		$	5,806

Deferred tax liabilities:
Inventories		-			96
Property, plant and equipment		673			850
Intangible assets		1,010			1,561
Long term operating lease obligations		4,034			3,427
Hedging		445			435
Step-up on fair value adjustment		2,530			-
Other liabilities		431			473
		9,123			6,842

Total net deferred tax liabilities	$	(3,001	)	$	(1,036	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2024			2023

U.S. federal income tax at 21%	$	3,227		$	3,038
Increases (reductions) in tax resulting from:
US Foreign inclusion items		463			67
Foreign rate differences		555			739
Foreign permanent items		127			20
Foreign prior period adjustments		118			166
Foreign other		3			(90	)
Foreign bargain purchase gain		(782	)		-
Foreign tax ruling		(786	)		-
Foreign uncollectible tax receivable		238			-
State taxes		(144	)		69
Change in prior year estimate		96			(113	)
Research & development tax credits		(47	)		(127	)
Foreign tax credits		(480	)		-
Unrecognized tax benefits		3			64
Stock compensation		(445	)		(13	)
Rate changes		-			(39	)
Deferred tax basis adjustments		132			41
Executive compensation		471			219
GILTI Inclusion		-			97
FDII Deduction		-			-
Valuation Allowance		1,110			(426	)
Other, net		262			76
	$	4,121		$	3,788

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	2024			2023
Unrecognized tax benefits, beginning of year	$	774		$	716
Additions based on tax positions related to the prior year		-			22
Additions based on tax positions related to the current year		8			36
Reductions based on tax positions related to the prior year		(16	)		-
Subtractions due to statues closing		-			-
Settlements with taxing authorities		-			-
Unrecognized tax benefits, end of year	$	766		$	774

Note O - Income Taxes - Domestic and Foreign Earnings Before Income Taxes and Minority Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
United States	$ (6,213)	$ 683
Foreign	21,580	13,782
Income before income taxes and noncontrolling interest	$ 15,367	$ 14,465

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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Note P - Contingencies	12 Months Ended
Jun. 30, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	P. CONTINGENCIES The Company is involved in litigation of which the ultimate outcome and liability to the Company, if any, are not presently determinable. Management believes that final disposition of such litigation will not have a material impact on the Company’s results of operations, financial position or cash flows, either individually or in the aggregate.

Note P - Contingencies

12 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Text Block]

P. CONTINGENCIES

The Company is involved in litigation of which the ultimate outcome and liability to the Company, if any, are not presently determinable. Management believes that final disposition of such litigation will not have a material impact on the Company’s results of operations, financial position or cash flows, either individually or in the aggregate.

Note G - Warranty

12 Months Ended

Jun. 30, 2024

Product Warranty Disclosure [Text Block]

G. WARRANTY

The Company warrants all assembled products, parts (except component products or parts on which written warranties are issued by the respective manufacturers thereof and are furnished to the original customer, as to which the Company makes no warranty and assumes no liability) and service against defective materials or workmanship. Such warranty generally extends from periods ranging from 12 months to 24 months. The Company engages in extensive product quality programs and processes, including actively monitoring and evaluating the quality of its suppliers. However, its warranty obligation is affected by product failure rates, the number of units affected by the failure and the expense involved in satisfactorily addressing the situation. The warranty reserve is established based on the Company’s best estimate of the amounts necessary to settle future and existing claims on products sold as of the balance sheet date. When evaluating the adequacy of the reserve for warranty costs, management takes into consideration the term of the warranty coverage, historical claim rates and costs of repair, knowledge of the type and volume of new products and economic trends. While the Company believes that the warranty reserve is adequate and that the judgment applied is appropriate, such amounts estimated to be due and payable in the future could differ materially from what actually transpires. The following is a listing of the activity in the warranty reserve during the years ended June 30:

	2024			2023

Reserve balance, July 1	$	3,476		$	3,329
Current period expense and adjustments		5,850			2,451
Payments or credits to customers		(5,102	)		(2,268	)
Translation adjustment		(4	)		(36	)
Reserve balance, June 30	$	4,220		$	3,476

The current portion of the warranty accrual ($3,341 and $2,970 at June 30, 2024 and 2023, respectively) is reflected in accrued liabilities, while the long-term portion ($879 and $506 at June 30, 2024 and 2023, respectively) is included in other long-term liabilities on the consolidated balance sheets.

Schedule II - Valuation and Qualifying Accounts (Tables)

12 Months Ended

Jun. 30, 2024

Valuation Allowances and Reserves [Table Text Block]

	Balance at		Charged to					Balance at
	Beginning		Costs and					End of
Description	of Period		Expenses		Adjustments⁽¹⁾			Period

2024
Allowance for credit losses on accounts receivable	$	1,221	$	240	$	78		$	1,383

Reserve for inventory obsolescence	$	12,858	$	2,331	$	2,496		$	12,693

Deferred tax valuation allowance	$	22,345	$	-	$	(1,690	)	$	24,035

2023
Allowance for credit losses on accounts receivable	$	1,741	$	140	$	660		$	1,221

Reserve for inventory obsolescence	$	11,557	$	1,740	$	439		$	12,858

Deferred tax valuation allowance	$	23,097	$	-	$	752		$	22,345

Note K - Business Segments and Foreign Operations (Details Textual)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Number of Reportable Segments	2
Customer Concentration Risk [Member] \| Revenue Benchmark [Member]
Number of Customers		1
Customer Concentration Risk [Member] \| Revenue Benchmark [Member] \| Customer 1 [Member]
Concentration Risk, Percentage		10.00%

Note H - Debt - Schedule of Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
2025	$ 2,000
2026	2,000
2027	21,788
2028	0
2029	0
Thereafter	23
Long-Term Debt	$ 25,811	$ 18,627

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

Note D - Property, Plant and Equipment

12 Months Ended

Jun. 30, 2024

Property, Plant and Equipment Disclosure [Text Block]

D. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment at June 30 were as follows:

	2024			2023
Land	$	3,062		$	2,148
Buildings		44,833			26,349
Machinery and equipment		189,913			148,088
		237,808			176,585
Less: accumulated depreciation		(179,734	)		(137,935	)
	$	58,074		$	38,650

Included in the above amounts are finance lease right-of-use assets of $5,210 and $4,427 for the years ended June 30, 2024 and 2023, respectively.

Depreciation expense for the years ended June 30, 2024 and 2023 was $6,707 and $6,400, respectively.

At June 30, 2024, the Company owned one permanently idle facility with a book value of $3.0 million. The asset is presented within property, plant, and equipment, net on the Consolidated Balance Sheets. No impairment losses were recorded in fiscal 2024 or 2023.

Consolidated Statements of Operations and Comprehensive Income (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Benefit plan adjustments, income taxes	$ 8	$ 21
Unrealized loss on cash flow hedge, income taxes	$ 0	$ 0

Note N - Pension and Other Postretirement Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Pension Plan [Member]
Service cost	$ 373	$ 338
Interest cost	3,609	3,570
Prior service cost	0	20
Expected return on plan assets	(4,283)	(4,240)
Amortization of transition obligation	38	38
Amortization of prior service cost (benefit)	35	(100)
Amortization of actuarial net loss	65	2,451
Modified mark-to market effect	0	(2,428)
Net periodic benefit income	(163)	(351)
Amortization of actuarial net loss	65	23
Service cost	373	340
Interest cost	3,609	3,571
Other Postretirement Benefits Plan [Member]
Service cost	8	10
Interest cost	191	213
Prior service cost	0	0
Expected return on plan assets	0	0
Amortization of transition obligation	0	0
Amortization of prior service cost (benefit)	(708)	(314)
Amortization of actuarial net loss	0	0
Modified mark-to market effect	0	0
Net periodic benefit income	(509)	(91)
Service cost	8	10
Interest cost	$ 191	$ 213

Note R - Earnings Per Share (Tables)

12 Months Ended

Jun. 30, 2024

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

	2024			2023
Basic:
Net income	$	11,246		$	10,677
Less: Net earnings attributable to noncontrolling interest		(258	)		(297	)
Less: Undistributed earnings attributable to unvested shares		-			-
Net income attributable to Twin Disc, Incorporated		10,988			10,380

Weighted average shares outstanding - basic		13,683			13,468

Basic Income Per Share:
Net income per share - basic	$	0.80		$	0.77

Diluted:
Net income	$	11,246		$	10,677
Less: Net earnings attributable to noncontrolling interest		(258	)		(297	)
Less: Undistributed earnings attributable to unvested shares		-			-
Net income attributable to Twin Disc, Incorporated		10,988			10,380

Weighted average shares outstanding - basic		13,683			13,468
Effect of dilutive stock awards		194			343
Weighted average shares outstanding - diluted		13,877			13,811

Diluted Income Per Share:
Net income per share - diluted	$	0.79		$	0.75

Note K - Business Segments and Foreign Operations

12 Months Ended

Jun. 30, 2024

Segment Reporting Disclosure [Text Block]

K. BUSINESS SEGMENTS AND FOREIGN OPERATIONS

The Company and its subsidiaries are engaged in the manufacture and sale of marine and heavy duty off-highway power transmission equipment. Principal products include marine transmissions, azimuth drives, surface drives, propellers and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches and controls systems. The Company sells to both domestic and foreign customers in a variety of market areas, principally pleasure craft, commercial and military marine markets, energy and natural resources, government, and industrial markets.

Net sales by product group is summarized as follows:

	2024		2023
Industrial	$	25,668	$	29,775
Land-based transmissions		78,518		73,048
Marine and propulsion systems		171,766		147,825
Other		19,175		26,312
Total	$	295,127	$	276,960

Industrial products include clutches, power take-offs and pump drives sold to the agriculture, recycling, construction and oil and gas markets. The land-based transmission products include applications for oil field and natural gas, military and airport rescue and firefighting. The marine and propulsion systems include marine transmission, azimuth drives, controls, surface drives, and propellers for the global commercial marine, pleasure craft and patrol boat markets. Other includes non-Twin Disc manufactured product sold through Company-owned distribution entities.

The Company has two reportable segments: manufacturing and distribution. Its segment structure reflects the way management makes operating decisions and manages the growth and profitability of the business. It also corresponds with management’s approach of allocating resources and assessing the performance of its segments. The accounting practices of the segments are the same as those described in the summary of significant accounting policies. Transfers among segments are at established inter-company selling prices. Management evaluates the performance of its segments based on net earnings.

Information about the Company's segments, before intercompany eliminations, is summarized as follows:

2024	Manufacturing		Distribution		Total
Net Sales	$	250,933	$	148,920	$	399,853
Intra-segment sales		6,974		15,661		22,635
Inter-segment sales		77,978		4,113		82,091
Interest income		335		344		679
Interest expense		1,987		11		1,998
Income taxes		890		2,519		3,409
Depreciation and amortization		8,606		341		8,947
Net income attributable to Twin Disc		24,587		7,250		31,837
Assets		443,149		73,033		516,182
Expenditures for segment assets		7,305		730		8,035

2023	Manufacturing		Distribution		Total
Net Sales	$	244,090	$	121,964	$	366,054
Intra-segment sales		9,258		12,779		22,037
Inter-segment sales		60,858		6,199		67,057
Interest income		879		256		1,135
Interest expense		3,297		3		3,300
Income taxes		2,722		1,585		4,307
Depreciation and amortization		8,572		295		8,867
Net income attributable to Twin Disc		22,964		6,839		29,803
Assets		381,668		69,213		450,881
Expenditures for segment assets		5,336		374		5,710

The following is a reconciliation of reportable segment net sales and net income to the Company’s consolidated totals:

	2024			2023
Net sales:
Total net sales from reportable segments	$	399,853		$	366,054
Elimination of inter-company sales		(104,726	)		(89,094	)
Total consolidated net sales	$	295,127		$	276,960

*Net income attributable to Twin Disc, Incorporated:*
Total net income from reportable segments	$	31,837		$	29,803
Other adjustments and corporate expenses		(20,849	)		(19,423	)
Total consolidated net income attributable to Twin Disc	$	10,988		$	10,380

Corporate expenses pertain to certain costs that are not allocated to the reportable segments, primarily consisting of corporate overhead costs, including administrative functions and global functional expenses.

Other significant items:

	Segment					Consolidated
	Totals		Adjustments			Totals
2024
Interest income	$	679	$	(615	)	$	64
Interest expense		1,998		(555	)		1,443
Income taxes		3,409		712			4,121
Depreciation and amortization		8,947		1,034			9,981
Assets		516,182		(204,124	)		312,058
Expenditures for segment assets		8,035		672			8,707

2023
Interest income	$	1,135	$	(1,102	)	$	33
Interest expense		3,301		(1,048	)		2,253
Income taxes		4,307		(519	)		3,788
Depreciation and amortization		8,868		491			9,359
Assets		450,881		(161,700	)		289,181
Expenditures for segment assets		5,710		2,208			7,918

All adjustments represent inter-company eliminations and corporate amounts.

Geographic information about the Company is summarized as follows:

Net sales	2024		2023
United States	$	79,823	$	98,108
Netherlands		46,162		33,845
China		45,527		29,996
Australia		17,790		22,339
Italy		16,814		19,671
Other countries		89,011		73,001
Total	$	295,127	$	276,960

Net sales by geographic region are based on product shipment destination.

Long-lived assets primarily pertain to property, plant and equipment and exclude goodwill, other intangibles, and deferred income taxes. They are summarized as follows:

Long-lived assets	2024		2023
United States	$	39,475	$	31,628
Netherlands		10,270		10,396
Finland		14,362		-
Belgium		5,746		6,160
Italy		1,356		1,372
Switzerland		1,093		619
Other countries		5,100		4,419
Total	$	77,402	$	54,594

No one customer accounted for 10% of consolidated net sales in fiscal year 2024. There was one customer, an authorized distributor of the Company, that accounted for 10% of consolidated net sales in fiscal year 2023. Disaggregated revenue:

The following tables present details deemed most relevant to the users of the financial statements for the years ended June 30, 2024 and June 30, 2023.

Net sales by product group for the year ended June 30, 2024 is summarized as follows:

					Elimination of
	Manufacturing		Distribution		Intercompany Sales			Total
Industrial	$	23,656	$	5,163	$	(3,151	)	$	25,668
Land-based transmissions		71,464		40,693		(33,639	)		78,518
Marine and propulsion systems		152,855		86,202		(67,291	)		171,766
Other		2,958		16,862		(645	)		19,175
Total	$	250,933	$	148,920	$	(104,726	)	$	295,127

Net sales by product group for the year ended June 30, 2023 is summarized as follows:

					Elimination of
	Manufacturing		Distribution		Intercompany Sales			Total
Industrial	$	28,445	$	6,162	$	(4,832	)	$	29,775
Land-based transmissions		69,411		29,787		(26,150	)		73,048
Marine and propulsion systems		136,992		67,033		(56,200	)		147,825
Other		9,242		18,982		(1,912	)		26,312
Total	$	244,090	$	121,964	$	(89,094	)	$	276,960

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.

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Note I - Lease Obligations

12 Months Ended

Jun. 30, 2024

Lessee, Operating and Finance Leases [Text Block]

I. LEASE OBLIGATIONS

The following table provides a summary of leases recorded on the consolidated balance sheet at June 30.

	Balance Sheet Location	2024		2023
Lease Assets
Operating lease right-of-use assets	Right-of-use operating lease assets	$	16,622	$	13,133
Finance lease right-of-use assets	Property, plant and equipment, net		5,210		4,427

Lease Liabilities
Operating lease liabilities	Accrued liabilities	$	2,352	$	2,343
Operating lease liabilities	Operating lease obligations		14,376		10,811
Finance lease liabilities	Accrued liabilities		882		643
Finance lease liabilities	Other long-term liabilities		4,795		4,314

The components of lease expense for the years ended June 30 were as follows:

Other information related to leases was as follows:

	2024			2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	3,447		$	3,282
Operating cash flows from finance leases		308			267
Financing cash flows from finance leases		921			621
Right-of-use-assets obtained in exchange for lease obligations:
Operating leases		6,069			2,917
Finance leases		1,383			522
Weighted average remaining lease term (years):
Operating leases		8.4			8.8
Finance lease		8.7			11.3
Weighted average discount rate:
Operating leases		8.3	%		7.2	%
Finance leases		6.2	%		5.2	%

Approximate future minimum rental commitments under non-cancellable leases as of June 30, 2024 were as follows:

	Operating Leases			Finance Leases
2025	$	3,789		$	1,039
2026		3,197			988
2027		2,816			918
2028		2,270			820
2029		2,201			619
Thereafter		9,724			2,791
Total future lease payments		23,997			7,175
Less: Amount representing interest		(7,269	)		(1,497	)
Present value of future payments	$	16,728		$	5,678

Note L - Stock-based Compensation - Shares Available for Future Options (Details) - Stock Options [Member] - shares	Jun. 30, 2024	Jun. 30, 2023
The 2020 Directors Plan [Member]
Shares Available for Grant (in shares)	521,550	560,531
The 2021 LTI Plan [Member]
Shares Available for Grant (in shares)	41,439	233,270

Note B - Acquisition of Katsa Oy - Schedule of Intangible Assets (Details) - USD ($) $ in Millions		12 Months Ended
	May 31, 2024	Jun. 30, 2024
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life (Year)		6 years
Katsa Oy [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 3.4
Katsa Oy [Member] \| Customer Relationships [Member]
Intangible Assets	$ 1.5
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life (Year)	12 years
Katsa Oy [Member] \| Trade Names [Member]
Intangible Assets	$ 0.9
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life (Year)	10 years
Katsa Oy [Member] \| Technology Know-How [Member]
Intangible Assets	$ 1.0
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life (Year)	7 years

Note C - Inventories (Details Textual) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 29, 2023	Sep. 29, 2023	Jun. 30, 2024	Jun. 30, 2023
Percentage of LIFO Inventory			31.00%	33.00%
Excess of Replacement or Current Costs over Stated LIFO Value			$ 30,680	$ 30,646
Effect of LIFO Inventory Liquidation on Income			1,553	3,685
Inventory Valuation Reserves			$ 12,693	$ 12,858
Boat Management System Product Line [Member]
Inventory Write-down		$ 2,100
Boat Management System Product Line [Member] \| UNITED STATES
Inventory Write-down	$ 1,600

Note N - Pension and Other Postretirement Benefit Plans - Pension Plan Weighted-Average Asset Allocations (Details)	Jun. 30, 2024	Jun. 30, 2023
Target Allocation	100.00%
Actual Allocation	100.00%	100.00%
Equity Securities [Member]
Target Allocation	38.00%
Actual Allocation	19.00%	40.00%
Debt Securities [Member]
Target Allocation	55.00%
Actual Allocation	71.00%	49.00%
Real Estate [Member]
Target Allocation	7.00%
Actual Allocation	10.00%	11.00%

Note K - Business Segments and Foreign Operations (Tables)

12 Months Ended

Jun. 30, 2024

Revenue from External Customers by Products and Services [Table Text Block]

	2024		2023
Industrial	$	25,668	$	29,775
Land-based transmissions		78,518		73,048
Marine and propulsion systems		171,766		147,825
Other		19,175		26,312
Total	$	295,127	$	276,960

					Elimination of
	Manufacturing		Distribution		Intercompany Sales			Total
Industrial	$	23,656	$	5,163	$	(3,151	)	$	25,668
Land-based transmissions		71,464		40,693		(33,639	)		78,518
Marine and propulsion systems		152,855		86,202		(67,291	)		171,766
Other		2,958		16,862		(645	)		19,175
Total	$	250,933	$	148,920	$	(104,726	)	$	295,127

					Elimination of
	Manufacturing		Distribution		Intercompany Sales			Total
Industrial	$	28,445	$	6,162	$	(4,832	)	$	29,775
Land-based transmissions		69,411		29,787		(26,150	)		73,048
Marine and propulsion systems		136,992		67,033		(56,200	)		147,825
Other		9,242		18,982		(1,912	)		26,312
Total	$	244,090	$	121,964	$	(89,094	)	$	276,960

Schedule of Segment Reporting Information, by Segment [Table Text Block]

2024	Manufacturing		Distribution		Total
Net Sales	$	250,933	$	148,920	$	399,853
Intra-segment sales		6,974		15,661		22,635
Inter-segment sales		77,978		4,113		82,091
Interest income		335		344		679
Interest expense		1,987		11		1,998
Income taxes		890		2,519		3,409
Depreciation and amortization		8,606		341		8,947
Net income attributable to Twin Disc		24,587		7,250		31,837
Assets		443,149		73,033		516,182
Expenditures for segment assets		7,305		730		8,035

2023	Manufacturing		Distribution		Total
Net Sales	$	244,090	$	121,964	$	366,054
Intra-segment sales		9,258		12,779		22,037
Inter-segment sales		60,858		6,199		67,057
Interest income		879		256		1,135
Interest expense		3,297		3		3,300
Income taxes		2,722		1,585		4,307
Depreciation and amortization		8,572		295		8,867
Net income attributable to Twin Disc		22,964		6,839		29,803
Assets		381,668		69,213		450,881
Expenditures for segment assets		5,336		374		5,710

Reconciliation of Revenue and Operating Profit (Loss) from Segments to Consolidated [Table Text Block]

	2024			2023
Net sales:
Total net sales from reportable segments	$	399,853		$	366,054
Elimination of inter-company sales		(104,726	)		(89,094	)
Total consolidated net sales	$	295,127		$	276,960

*Net income attributable to Twin Disc, Incorporated:*
Total net income from reportable segments	$	31,837		$	29,803
Other adjustments and corporate expenses		(20,849	)		(19,423	)
Total consolidated net income attributable to Twin Disc	$	10,988		$	10,380

Segment, Reconciliation of Other Items from Segments to Consolidated [Table Text Block]

	Segment					Consolidated
	Totals		Adjustments			Totals
2024
Interest income	$	679	$	(615	)	$	64
Interest expense		1,998		(555	)		1,443
Income taxes		3,409		712			4,121
Depreciation and amortization		8,947		1,034			9,981
Assets		516,182		(204,124	)		312,058
Expenditures for segment assets		8,035		672			8,707

2023
Interest income	$	1,135	$	(1,102	)	$	33
Interest expense		3,301		(1,048	)		2,253
Income taxes		4,307		(519	)		3,788
Depreciation and amortization		8,868		491			9,359
Assets		450,881		(161,700	)		289,181
Expenditures for segment assets		5,710		2,208			7,918

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]

Net sales	2024		2023
United States	$	79,823	$	98,108
Netherlands		46,162		33,845
China		45,527		29,996
Australia		17,790		22,339
Italy		16,814		19,671
Other countries		89,011		73,001
Total	$	295,127	$	276,960

Long-lived assets	2024		2023
United States	$	39,475	$	31,628
Netherlands		10,270		10,396
Finland		14,362		-
Belgium		5,746		6,160
Italy		1,356		1,372
Switzerland		1,093		619
Other countries		5,100		4,419
Total	$	77,402	$	54,594

Note G - Warranty (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Product Warranty Accrual, Current	$ 3,341	$ 2,970
Product Warranty Accrual, Noncurrent	$ 879	$ 506
Minimum [Member]
Warranty Period (Month)	12 months
Maximum [Member]
Warranty Period (Month)	24 months

Note B - Acquisition of Katsa Oy (Details Textual) - USD ($) $ in Thousands		12 Months Ended
	May 31, 2024	Jun. 30, 2024	Jun. 30, 2023
Business Combination, Bargain Purchase, Gain Recognized, Amount		$ 3,724	$ 0
Katsa Oy [Member]
Business Acquisition, Percentage of Voting Interests Acquired	100.00%
Payments to Acquire Businesses, Net of Adjustments	$ 25,500
Business Acquisition, Transaction Costs	400	600
Business Combination, Acquisition Related Costs	700
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	29,600
Business Combination, Consideration Transferred	25,900
Business Combination, Bargain Purchase, Gain Recognized, Amount	3,700	$ 3,724	$ (0)
Business Combination, Income Tax Incurred	2,500
Katsa Oy [Member] \| BMO [Member] \| The Tenth Amendment [Member] \| Revolving Credit Facility [Member]
Business Combination, Consideration Transferred, Liabilities Incurred	$ 16,900

Note S - Derivative Financial Instruments - Impact of the Company's Derivative Instruments on the Consolidated Statement of Operations and Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Unrealized gain (loss) on hedges	$ 46	$ 54
Interest Rate Swap [Member] \| Designated as Hedging Instrument [Member] \| Unrealized Gain (Loss) on Hedges [Member] \| Cash Flow Hedging [Member]
Unrealized gain (loss) on hedges	(184)	332
Interest Rate Swap [Member] \| Designated as Hedging Instrument [Member] \| Interest Expense [Member]
Gain (loss) on derivative instruments	262	311
Euro Denominated Revolving Loan [Member] \| Designated as Hedging Instrument [Member] \| Unrealized Gain (Loss) on Hedges [Member] \| Net Investment Hedging [Member]
Unrealized gain (loss) on hedges	$ 230	$ (278)

Note E - Intangible Assets - Estimated Intangibles Amortization Expense (Details) $ in Thousands	Jun. 30, 2024 USD ($)
2025	$ 3,476
2026	2,530
2027	2,000
2028	1,642
2029	1,350
Thereafter	$ 1,688

Note B - Acquisition of Katsa Oy (Tables)

12 Months Ended

Jun. 30, 2024

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

Cash purchase price	$	25.1
Final working capital adjustment		0.8
Total consideration	$	25.9

Assets acquired (in millions):
Cash	$	2.7
Trade accounts receivable, net		7.4
Inventories, net		10.6
Prepaid expenses		0.3
Other		0.8
Property, plant and equipment, net		13.9
Right-of-use operating lease assets		0.5
Intangible assets, net		3.4
Total assets acquired	$	39.6

Liabilities assumed (in millions):
Accounts payable		1.8
Accrued liabilities		5.3
Lease obligations		0.4
Deferred income taxes		2.5
Total liabilities assumed	$	10.0

Total identified net assets acquired (in millions):	$	29.6
Gain on bargain purchase		3.7
Purchase price consideration	$	25.9

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

Assets acquired (in millions):
Cash	$	2.7
Trade accounts receivable, net		7.4	(a)
Inventories, net		10.6	(b)
Prepaid expenses		0.3
Other		0.8
Property, plant and equipment, net		13.9	(c)
Right-of-use operating lease assets		0.5
Intangible assets, net		3.4	(d)
Accounts payable		1.8
Accrued liabilities		5.3	(e)
Lease obligations		0.4
Deferred income taxes		2.5
Total identified net assets acquired (in millions):	$	29.6
Gain on bargain purchase		3.7	(f)
Purchase price consideration	$	25.9

Schedule of Inventory Acquired, Measured at Fair Value [Table Text Block]

Raw materials	$	4.5
Work in progress at fair value		2.8
Finished goods at fair value		3.3
Inventories at fair value	$	10.6
Inventories at book value		9.8
Step-up	$	0.8

Schedule of Property, Plant and Equipment Acquired, Measured at Fair Value [Table Text Block]

Buildings	$	7.6
Land		0.9
Equipment		5.4
Property, plant and equipment at fair value		13.9
Property, plant and equipment at book value		5.3
Step-up	$	8.6

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

	Estimated fair		Estimated average
	value		useful lives
Customer relationships	$	1.5		12
Tradename		0.9		10
Technology know-how		1.0		7
Total	$	3.4

Note B - Acquisition of Katsa Oy - Schedule of Inventory (Details) - Katsa Oy [Member] $ in Millions	May 31, 2024 USD ($)
Inventories, net	$ 10.6
Inventory	10.6
Inventories at book value	9.8
Step-up	0.8
Raw Materials [Member]
Inventories, net	4.5
Inventory	4.5
Work in Progress [Member]
Inventories, net	2.8
Inventory	2.8
Finished Goods [Member]
Inventories, net	3.3
Inventory	$ 3.3

Note I - Lease Obligations (Tables)

12 Months Ended

Jun. 30, 2024

Assets and Liabilities, Lessee [Table Text Block]

	Balance Sheet Location	2024		2023
Lease Assets
Operating lease right-of-use assets	Right-of-use operating lease assets	$	16,622	$	13,133
Finance lease right-of-use assets	Property, plant and equipment, net		5,210		4,427

Lease Liabilities
Operating lease liabilities	Accrued liabilities	$	2,352	$	2,343
Operating lease liabilities	Operating lease obligations		14,376		10,811
Finance lease liabilities	Accrued liabilities		882		643
Finance lease liabilities	Other long-term liabilities		4,795		4,314

Operating and Finance Leases, Other Disclosures [Table Text Block]

	2024			2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	3,447		$	3,282
Operating cash flows from finance leases		308			267
Financing cash flows from finance leases		921			621
Right-of-use-assets obtained in exchange for lease obligations:
Operating leases		6,069			2,917
Finance leases		1,383			522
Weighted average remaining lease term (years):
Operating leases		8.4			8.8
Finance lease		8.7			11.3
Weighted average discount rate:
Operating leases		8.3	%		7.2	%
Finance leases		6.2	%		5.2	%

Schedule of Future Minimum Rental Payments for Operating Leases and Finance Lease, Liability, Maturity [Table Text Block]

	Operating Leases			Finance Leases
2025	$	3,789		$	1,039
2026		3,197			988
2027		2,816			918
2028		2,270			820
2029		2,201			619
Thereafter		9,724			2,791
Total future lease payments		23,997			7,175
Less: Amount representing interest		(7,269	)		(1,497	)
Present value of future payments	$	16,728		$	5,678

Note B - Acquisition of Katsa Oy

12 Months Ended

Jun. 30, 2024

Business Combination Disclosure [Text Block]

B. ACQUISITION OF KATSA OY

On May 31, 2024, the Company completed the acquisition of 100% of the outstanding common stock of Katsa Oy (“Katsa”). Based in Finland, Katsa is a European manufacturer of custom-designed, high-quality power transmission components and gearboxes for industrial and marine end-markets for a broad range of end market applications. Katsa also provides a wide range of after-sales services, including spare part deliveries, reverse engineering, modeling, and gearbox refurbishment. As a well-established business with a solid reputation for quality in addition to its strong in-house manufacturing and engineering capabilities, this acquisition is an excellent opportunity to expand Twin Disc’s global presence, leveraging Kata’s longstanding relationships with leading European OEMs to introduce the Company’s portfolio into new, growing markets. This acquisition was pursuant to a Sale and Purchase Agreement (“Purchase Agreement”) entered into by TD Finland Holding Oy, a wholly-owned subsidiary of the Company, with Timo Salli and Jouko Salli, the prior owners, on March 5, 2024.

Under the terms of the Purchase Agreement, the Company paid an aggregate of approximately $25.5 million in cash at closing, which included a base payment plus adjustments for net cash and working capital, and transactions costs of $0.4 million. This amount was subject to a final determination of working capital adjustments.

The Company, in part, financed the payment of the cash consideration through borrowings of $16.9 million under a new credit agreement entered into on April 1, 2024 with BMO Harris Bank N.A. (the “Credit Agreement”). The Credit Agreement is further discussed in Note H, Debt.

Purchase Price Allocation

The acquisition of Katsa met the criteria for a business combination to be accounted for using the acquisition method under ASC 805, Business Combinations (“ASC 805”), with the Company identified as the legal and the accounting acquirer. The Company recognized approximately $0.7 million of acquisition-related costs which were expensed in the consolidated statement of operations for the year ended June 30, 2024.

The following table details the allocation of the purchase price of the assets acquired and liabilities assumed in connection with the acquisition of Katsa.

Cash purchase price	$	25.1
Final working capital adjustment		0.8
Total consideration	$	25.9

Assets acquired (in millions):
Cash	$	2.7
Trade accounts receivable, net		7.4
Inventories, net		10.6
Prepaid expenses		0.3
Other		0.8
Property, plant and equipment, net		13.9
Right-of-use operating lease assets		0.5
Intangible assets, net		3.4
Total assets acquired	$	39.6

Liabilities assumed (in millions):
Accounts payable		1.8
Accrued liabilities		5.3
Lease obligations		0.4
Deferred income taxes		2.5
Total liabilities assumed	$	10.0

Total identified net assets acquired (in millions):	$	29.6
Gain on bargain purchase		3.7
Purchase price consideration	$	25.9

The fair value of the identifiable assets acquired and liabilities assumed of $29.6 million exceeded the purchase price of the business, and additional expected working capital adjustment, of $25.9 million. As a result, the Company reassessed the recognition and measurement of identifiable assets acquired and liabilities assumed and concluded that the valuation procedures and resulting measurements were appropriate. Accordingly, the acquisition has been accounted for as a bargain purchase and as a result, the Company recognized a gain of $3.7 million, net of income tax of $2.5 million associated with the acquisition. The amount is recorded in other income in the consolidated statements of operations and comprehensive income.

Pro forma results of operation for this acquisition have not been presented because the effects of the acquisition were not material to the Company’s consolidated financial results.

Fair Value Estimate of Assets Acquired and Liabilities Assumed

The Company is continuing its review of the fair value estimate of certain assets acquired and liabilities assumed during the measurement period, which will conclude as soon as the necessary information regarding the facts and circumstances that existed as of the acquisition date is obtained, or otherwise not available. This measurement period will not exceed one year from the acquisition date. At the effective date of the acquisition, the assets acquired and liabilities assumed are required to be measured at fair value. The provisional fair value estimates of the property, plant and equipment, net, the intangible assets, net, and deferred income taxes are pending final review by the Company. Accordingly, until the fair values are final, there could be material adjustments to the Company’s consolidated financial statements, including changes to depreciation and amortization expense related to the valuation of property and equipment and intangible assets acquired and their respective useful lives, among other adjustments.

Upon the final determination of the fair value of assets acquired and liabilities assumed, the excess of the purchase price over such fair values is allocated to goodwill or the excess of such fair values over the purchase price is allocated to bargain purchase gain. The final determination of the purchase price, fair values and resulting bargain purchase gain may differ significantly from what is reflected in these consolidated financial statements.

The following summarizes the fair value of the assets acquired and liabilities assumed at the acquisition date, including the preliminary estimates of the property, plant and equipment, net, the intangible assets, net, and deferred income taxes:

Assets acquired (in millions):
Cash	$	2.7
Trade accounts receivable, net		7.4	(a)
Inventories, net		10.6	(b)
Prepaid expenses		0.3
Other		0.8
Property, plant and equipment, net		13.9	(c)
Right-of-use operating lease assets		0.5
Intangible assets, net		3.4	(d)
Accounts payable		1.8
Accrued liabilities		5.3	(e)
Lease obligations		0.4
Deferred income taxes		2.5
Total identified net assets acquired (in millions):	$	29.6
Gain on bargain purchase		3.7	(f)
Purchase price consideration	$	25.9

The following information provides further details about the preliminary estimated net step-up in fair value and/or the estimated fair value at the acquisition date for some key balance sheet items.

(a)

Accounts receivable represent contractual amounts receivable from customers. The amounts approximate fair value.

(b)

Inventory consists of (in millions):

Raw materials	$	4.5
Work in progress at fair value		2.8
Finished goods at fair value		3.3
Inventories at fair value	$	10.6
Inventories at book value		9.8
Step-up	$	0.8

(c)

The value of property, plant and equipment is estimated at (in millions):

Buildings	$	7.6
Land		0.9
Equipment		5.4
Property, plant and equipment at fair value		13.9
Property, plant and equipment at book value		5.3
Step-up	$	8.6

(d)

Intangible assets consist of (in millions):

	Estimated fair		Estimated average
	value		useful lives
Customer relationships	$	1.5		12
Tradename		0.9		10
Technology know-how		1.0		7
Total	$	3.4

(e)

The amounts approximate fair value.

(f)

The Company recognized a bargain purchase gain of $3.7 million, net of income tax expense of $2.5 million associated with the acquisition. As a result, the Company reassessed the recognition and measurement of identifiable assets acquired and liabilities assumed and concluded that the valuation procedures and resulting measurements were appropriate. The fair value of the identifiable assets acquired and liabilities assumed exceeded the fair value of the purchase price of the business.

The fair values of property, plant and equipment, net, intangible assets, net, and deferred taxes presented above are preliminary until the final purchase price consideration is determined and the Company completes its work with the use of a third-party valuation firm. These values are subject to change. Any changes to the initial estimates of the fair value of assets and liabilities will impact the bargain purchase gain and may affect future earnings.

Note S - Derivative Financial Instruments

12 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Text Block]

S. DERIVATIVE FINANCIAL INSTRUMENTS

The Company reports all derivative instruments on its consolidated balance sheets at fair value and establishes criteria for designation and effectiveness of transactions entered into for hedging purposes.

As a global organization, the Company faces exposure to market risks, such as fluctuations in foreign currency exchange rates, interest rates and commodity prices. To manage the volatility relating to these exposures, the Company enters into various derivative instruments from time to time under its risk management policies. The Company designates derivative instruments as hedges on a transaction basis to support hedge accounting. The changes in fair value of these hedging instruments offset in part or in whole corresponding changes in the fair value or cash flows of the underlying exposures being hedged. The Company assesses the initial and ongoing effectiveness of its hedging relationships in accordance with its policy. The Company does not purchase, hold or sell derivative financial instruments for trading purposes. The Company’s practice is to terminate derivative transactions if the underlying asset or liability matures or is sold or terminated, or if it determines the underlying forecasted transaction is no longer probable of occurring.

Interest Rate Swaps Designated as Cash Flow Hedges

The primary purpose of the Company’s cash flow hedging activities is to manage the potential changes in value associated with interest payments on the Company’s SOFR-based indebtedness. The Company records gains and losses on interest rate swap contracts qualifying as cash flow hedges in accumulated other comprehensive loss to the extent that these hedges are effective and until the Company recognizes the underlying transactions in net earnings, at which time these gains and losses are recognized in interest expense on its consolidated statements of operations and comprehensive income. Cash flows from derivative financial instruments are classified as cash flows from financing activities on the consolidated statements of cash flows. These contracts generally have original maturities of greater than twelve months.

Net unrealized after-tax gains related to cash flow hedging activities that were included in accumulated other comprehensive loss were ($504) and ($688) for the years ended June 30, 2024 and 2023, respectively. The unrealized amounts in accumulated other comprehensive loss will fluctuate based on changes in the fair value of open contracts during each reporting period.

The Company estimates that ($218) of net unrealized gains related to cash flow hedging activities included in accumulated other comprehensive loss will be reclassified into earnings within the next twelve months.

Derivatives Designated as Net Investment Hedges

The Company is exposed to foreign currency exchange risk related to its investment in net assets in foreign countries. As discussed in Note H, Debt, during the fourth quarter of fiscal 2021, the Company designated its euro denominated Revolving Loan, with a notional amount of €13,500, as a net investment hedge to mitigate the risk of variability in its euro denominated net investments in wholly-owned foreign subsidiaries. All changes in fair value of the euro revolver were then reported in accumulated other comprehensive loss along with the foreign currency translation adjustments on those foreign investments. Net unrealized after-tax gains related to net investment hedging activities that were included in accumulated other comprehensive loss were ($1,502) and ($1,272) for the years ended June 30, 2024 and 2023, respectively.

Foreign Currency Forward Contracts Not Designated as Hedges

The Company primarily enters into forward exchange contracts to reduce the earnings and cash flow impact of non-functional currency denominated receivables and payables. These contracts are highly effective in hedging the cash flows attributable to changes in currency exchange rates. Gains and losses resulting from these contracts offset the foreign exchange gains or losses on the underlying assets and liabilities being hedged. The maturities of the forward exchange contracts generally coincide with the settlement dates of the related transactions. Gains and losses on these contracts are recorded in other expense, net in the consolidated statement of operations and comprehensive income as the changes in the fair value of the contracts are recognized and generally offset the gains and losses on the hedged items in the same period. The primary currency to which the Company was exposed in fiscal 2024 and 2023 was the euro. At June 30, 2024 and 2023, there were no significant forward exchange contracts outstanding.

Other Derivative Instruments

The Company does not utilize commodity price hedges to manage commodity price risk exposure. Likewise, the Company does not hedge the translation exposure represented by the net assets of its foreign subsidiaries.

Fair Value of Derivative Instruments

The Company’s interest rate swaps and foreign currency forward contracts are recorded at fair value on the consolidated balance sheets using a discounted cash flow analysis that incorporates observable market inputs. These market inputs include foreign currency spot and forward rates, and various interest rate curves, and are obtained from pricing data quoted by various banks, third-party sources and foreign currency dealers involving identical or comparable instruments (Level 2).

Counterparties to these foreign currency forward contracts have at least an investment grade rating. Credit ratings on some of the Company’s counterparties may change during the term of the financial instruments. The Company closely monitors its counterparties’ credit ratings and, if necessary, will make any appropriate changes to its financial instruments. The fair value generally reflects the estimated amounts that the Company would receive or pay to terminate the contracts at the reporting date.

As discussed in Note H, Debt, the Company's euro denominated Revolving Loan approximates fair value at June 30, 2024 and June 30, 2023. If measured at fair value in the financial statements, it would be classified as Level 2 in the fair value hierarchy.

The fair value of derivative instruments included in the consolidated balance sheets at June 30 were as follows:

	Balance Sheet Location	2024		2023
Derivatives designated as hedges:
Interest rate swaps	Other current assets	$	218	$	292
Interest rate swaps	Other noncurrent assets		76		187

The impact of the Company’s derivative instruments on the consolidated statement of operations and comprehensive income for the years ended June 30 was as follows:

	Statement of Operations and
	Comprehensive Income Location	2024			2023
Derivatives designated as hedges:
Interest rate swap	Interest expense	$	262		$	311
Interest rate swap	Unrealized (loss) gain on hedges		(184	)		332
Net investment hedge	Unrealized gain (loss) on hedges		230			(278	)

Note F - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Contract with customer liability	$ 26,540	$ 22,937	$ 17,021
Salaries and wages	14,186	10,102
Warranty	3,341	2,970
Distributor rebates	3,931	3,620
Retirement benefits	1,831	1,693
Other	15,101	20,264
Accrued Liabilities, Current	$ 64,930	$ 61,586

Note H - Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Long-term debt	$ 25,811	$ 18,627
Less: current maturities	(2,000)	(2,010)
Total long-term debt	23,811	16,617
Revolving Loan [Member]
Long-term debt	16,288	7,094
Term Loan [Member]
Long-term debt	9,500	11,500
Other Long-Term Debt [Member]
Long-term debt	$ 23	$ 33

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

Note D - Property, Plant and Equipment (Tables)

12 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Table Text Block]

	2024			2023
Land	$	3,062		$	2,148
Buildings		44,833			26,349
Machinery and equipment		189,913			148,088
		237,808			176,585
Less: accumulated depreciation		(179,734	)		(137,935	)
	$	58,074		$	38,650

Note B - Acquisition of Katsa Oy - Schedule of Business Acquisitions (Details) - USD ($) $ in Thousands		12 Months Ended
	May 31, 2024	Jun. 30, 2024	Jun. 30, 2023
Gain on bargain purchase		$ 3,724	$ 0
Katsa Oy [Member]
Cash purchase price	$ 25,100
Final working capital adjustment	800
Total consideration	25,900
Cash	2,700
Trade accounts receivable, net	7,400
Inventories, net	10,600
Prepaid expenses	300
Other	800
Property, plant and equipment, net	13,900
Right-of-use operating lease assets	500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	3,400
Total assets acquired	39,600
Accounts payable	1,800
Accrued liabilities	5,300
Lease obligations	400
Deferred income taxes	2,500
Total liabilities assumed	10,000
Total identified net assets acquired (in millions):	29,600
Gain on bargain purchase	3,700	$ 3,724	$ (0)
Purchase price consideration	$ 25,900

Note I - Lease Obligations - Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Operating lease right-of-use assets	$ 16,622	$ 13,133
Finance lease right-of-use assets	5,210	4,427
Operating lease liabilities	2,352	2,343
Operating lease liabilities	14,376	10,811
Finance lease liabilities	882	643
Finance lease liabilities	$ 4,795	$ 4,314

Note O - Income Taxes (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Deferred Tax Assets, Valuation Allowance	$ 24,035	$ 22,345
Undistributed Earnings of Foreign Subsidiaries	20,977	24,612
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	766	774
Unrecognized Tax Benefits, Income Tax Penalties Accrued	68	$ 52
Domestic Tax Jurisdiction [Member]
Operating Loss Carryforwards, Subject to Expiration	19,249
Tax Credit Carryforward, Amount	10,370
State and Local Jurisdiction [Member]
Operating Loss Carryforwards, Subject to Expiration	30,536
Tax Credit Carryforward, Amount	$ 1,041

Note J - Shareholders' Equity (Tables)

12 Months Ended

Jun. 30, 2024

Schedule of Stockholders Equity [Table Text Block]

	2024			2023
Translation adjustments	$	(849	)	$	(1,582	)
Benefit plan adjustments, net of income taxes of ($141) and ($133) respectively		(8,062	)		(5,948	)
Net gain on cash flow hedge derivatives, net of income taxes of ($210) and ($210), respectively		504			688
Net gain on net investment hedge derivatives, net of income taxes of $103 and $103, respectively		1,502			1,272
Accumulated other comprehensive loss	$	(6,905	)	$	(5,570	)

Reconciliation For The Changes In Accumulated Other Comprehensive Income Loss Net Of Tax By Component [Table Text Block]

	Translation			Benefit Plan			Cash Flow		Net Investment
	Adjustment			Adjustment			Hedges		Hedges
Balance at June 30, 2022	$	(2,266	)	$	(6,614	)	$	356	$	1,550
Other comprehensive loss before reclassifications		684			-			-		-
Plan merger remeasurement adjustment					(1,115	)
Amounts reclassified from accumulated other comprehensive loss		-			1,781			332		(278	)
Net current period other comprehensive income (loss)		684			666			332		(278	)
Balance at June 30, 2023	$	(1,582	)	$	(5,948	)	$	688	$	1,272

	Translation			Benefit Plan			Cash Flow			Net Investment
	Adjustment			Adjustment			Hedges			Hedges
Balance at June 30, 2023	$	(1,582	)	$	(5,948	)	$	688		$	1,272
Other comprehensive loss before reclassifications		733			-			-			-
Amounts reclassified from accumulated other comprehensive loss		-			(2,114	)		(184	)		230
Net current period other comprehensive income (loss)		733			(2,114	)		(184	)		230
Balance at June 30, 2024	$	(849	)	$	(8,062	)	$	504		$	1,502

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]

	Amount
	Reclassified
Changes in benefit plan items
Actuarial loss	$	(2,079	)
Transition asset and prior service benefit		21
Translation		(64	)
Total amortization		(2,122	)
Income taxes		8
Total changes, net of tax	$	(2,114	)

	Amount
	Reclassified
Changes in benefit plan items
Actuarial income	$	16
Transition asset and prior service benefit		336
Plan merger remeasurement adjustment		(1,115	)
MMTM adjustment		2,430
Translation		6
Total amortization		1,673
Income taxes		108
Total changes, net of tax	$	1,781

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Current assets:
Cash	$ 20,070	$ 13,263
Trade accounts receivable, net	52,207	54,760
Inventories, net	130,484	131,930
Assets held for sale	0	2,968
Prepaid expenses	8,656	8,459
Other	8,214	8,326
Total current assets	219,631	219,706
Property, Plant and Equipment, Net	58,074	38,650
Right-of-use operating lease assets	16,622	13,133
Intangible assets, net	12,686	12,637
Deferred income taxes	2,339	2,244
Other assets	2,706	2,811
Total assets	312,058	289,181
Liabilities, Current [Abstract]
Current maturities of long-term debt	2,000	2,010
Accounts payable	32,586	36,499
Accrued liabilities	64,930	61,586
Total current liabilities	99,516	100,095
Long-term debt	23,811	16,617
Operating Lease, Liability, Noncurrent	14,376	10,811
Accrued retirement benefits	7,854	7,608
Deferred income taxes	5,340	3,280
Other Liabilities, Noncurrent	6,107	5,253
Total liabilities	157,004	143,664
Twin Disc shareholders' equity:
Preferred shares authorized: 200,000; issued: none; no par value	0	0
Common shares authorized: 30,000,000; issued: 14,632,802; no par value	41,798	42,855
Retained earnings	129,592	120,299
Accumulated other comprehensive loss	(6,905)	(5,570)
Equity before treasury stock	164,485	157,584
Less treasury stock, at cost (637,778 and 814,734 shares, respectively)	9,783	12,491
Total Twin Disc, Incorporated shareholders' equity	154,702	145,093
Noncontrolling interest	352	424
Total equity	155,054	145,517
Total liabilities and equity	$ 312,058	$ 289,181

Note H - Debt (Tables)

12 Months Ended

Jun. 30, 2024

Schedule of Debt [Table Text Block]

	2024			2023
Credit Agreement Debt
Revolving loans (expire April 2027)	$	16,288		$	7,094
Term loan (due April 2027)		9,500			11,500
Other		23			33
Subtotal		25,811			18,627
Less: current maturities		(2,000	)		(2,010	)
Total long-term debt	$	23,811		$	16,617

Schedule of Maturities of Long-Term Debt [Table Text Block]

Fiscal Year
2025	$	2,000
2026		2,000
2027		21,788
2028		-
2029		-
Thereafter		23
	$	25,811

Note A - Description of Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2024

Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]

	Contract Assets		Contract Liabilities
2022		45,452		17,021
2023		54,760		22,937
2024		52,207		26,540

Note N - Pension and Other Postretirement Benefit Plans (Tables)

12 Months Ended

Jun. 30, 2024

Schedule of Net Benefit Costs [Table Text Block]

	Year Ended June 30
	Pension Benefits						Other Postretirement Benefits
Components of net periodic benefit income:	2024			2023			2024			2023
Service cost	$	373		$	338		$	8		$	10
Interest cost		3,609			3,570			191			213
Prior service cost		-			20			-			-
Expected return on plan assets		(4,283	)		(4,240	)		-			-
Amortization of transition obligation		38			38			-			-
Amortization of prior service cost (benefit)		35			(100	)		(708	)		(314	)
Amortization of actuarial net loss		65			2,451			-			-
Modified mark-to market effect		-			(2,428	)		-			-
Net periodic benefit income	$	(163	)	$	(351	)	$	(509	)	$	(91	)

	Pension Benefits
	2024			2023
Service cost	$	373		$	338
Interest cost		3,609			3,570
Prior service cost		-			20
Expected return on plan assets		(4,283	)		(4,240	)
Amortization of transition obligation		38			38
Amortization of prior service cost (benefit)		35			(100	)
Amortization of actuarial net loss		65			23

Net periodic benefit income	$	(163	)	$	(351	)

	Other Postretirement Benefits
	2024			2023
Service cost	$	8		$	10
Interest cost		191			213
Amortization of prior service benefit		(708	)		(314	)

Net periodic benefit income	$	(509	)	$	(91	)

Schedule of Net Funded Status [Table Text Block]

							Other
	*Pension*						*Postretirement*
	*Benefits*						*Benefits*
	*2024*			*2023*			*2024*			*2023*
Change in benefit obligation:
Benefit obligation, beginning of year	$	72,242		$	79,549		$	3,685		$	4,785
Service cost		373			340			8			10
Interest cost		3,609			3,571			191			213
Prior service cost		-			20			-			-
Actuarial loss (gain)		254			(3,361	)		(166	)		(633	)
Contributions by plan participants		116			112			-			-
Benefits paid		(8,484	)		(7,989	)		(549	)		(690	)
Benefit obligation, end of year	$	68,110		$	72,242		$	3,169		$	3,685

Change in plan assets:
Fair value of assets, beginning of year	$	67,338		$	73,338		$	-		$	-
Actual return on plan assets		3,101			1,141			-			-
Employer contribution		589			736			549			690
Contributions by plan participants		116			112			-			-
Benefits paid		(8,484	)		(7,989	)		(549	)		(690	)
Fair value of assets, end of year	$	62,660		$	67,338		$	-		$	-

Funded status	$	(5,450	)	$	(4,904	)	$	(3,169	)	$	(3,685	)

*Amounts recognized in the balance sheet consist of:*
Other assets - noncurrent	$	-		$	28		$	-		$	-
Accrued liabilities - current		(260	)		(308	)		(505	)		(701	)
Accrued retirement benefits - noncurrent		(5,190	)		(4,624	)		(2,664	)		(2,984	)
Net amount recognized	$	(5,450	)	$	(4,904	)	$	(3,169	)	$	(3,685	)

*Amounts recognized in accumulated other comprehensive loss consist of (net of tax):*
Net transition obligation	$	53		$	83		$	-		$	-
Prior service benefit		(145	)		(42	)		-			(67	)
Actuarial net loss (gain)		8,768			7,064			(614	)		(1,090	)
Net amount recognized	$	8,676		$	7,105		$	(614	)	$	(1,157	)

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]

				Other
	*Pension*			*Postretirement*
	*Benefits*			*Benefits*
Net transition obligation	$	96		$	-
Prior service benefit		(32	)		-
Actuarial net loss (gain)		239			(262	)
Net amount to be recognized	$	303		$	(262	)

Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block]

	June 30
	2024		2023
Projected and accumulated benefit obligation	$	64,286	$	67,808
Fair value of plan assets		58,839		62,876

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

				Other
				Postretirement
	Pension			Benefits
Net loss (income)	$	1,656		$	(165	)
Amortization of transition asset		(38	)		-
Amortization of prior service (benefit) cost		(34	)		88
Amortization of net (income) loss		(64	)		620
Total recognized in other comprehensive loss		1,520			543
Net periodic benefit income		(163	)		(509	)
Total recognized in net periodic benefit income and other comprehensive loss	$	1,357		$	34

				Other
				Postretirement
	Pension			Benefits
Net income	$	(307	)	$	(633	)
Amortization of transition asset		(38	)		-
Amortization of prior service cost		99			275
Amortization of net (income) loss		(23	)		39
Total recognized in other comprehensive income		(269	)		(319	)
Net periodic benefit income		(351	)		(91	)
Total recognized in net periodic benefit income and other comprehensive income	$	(620	)	$	(410	)

Defined Benefit Plan, Assumptions [Table Text Block]

							Other
	Pension Benefits						Postretirement Benefits
Weighted average assumptions used to determine benefit obligations at June 30
	*2024*			*2023*			*2024*			*2023*
Discount rate		5.25	%		5.29	%		5.66	%		5.74	%
Expected return on plan assets		6.54	%		6.65	%

							Other
	Pension Benefits						Postretirement Benefits
Weighted average assumptions used to determine net periodic benefit costs for years ended June 30
	*2024*			*2023*			*2024*			*2023*
Discount rate		5.07	%		5.02	%		5.74	%		4.83	%
Expected return on plan assets		6.47	%		6.42	%

Schedule of Plan Weighted Average Assets Allocations [Table Text Block]

	Target		June 30
Asset Category	Allocation		2024		2023
Equity securities		38%		19%		40%
Debt securities		55%		71%		49%
Real estate		7%		10%		11%
		100%		100%		100%

Schedule of Allocation of Plan Assets [Table Text Block]

	Total		Level I		Level II		Level III
Cash and cash equivalents	$	647	$	647	$	-	$	-
Equity securities:
Company common stock (a)		1,157		1,157		-		-
Common stock (a)		1,479		1,479		-		-
Mutual funds (b)		4,261		4,261		-		-
Annuity contracts (c)		6,264		-		-		6,264
Total	$	13,808	$	7,544	$	-	$	6,264
Investments Measured at Net Asset Value (d)		48,852
Total	$	62,660

	Total		Level I		Level II		Level III
Cash and cash equivalents	$	858	$	858	$	-	$	-
Equity securities:
Company common stock (a)		1,106		1,106		-		-
Common stock (a)		9,590		9,590		-		-
Mutual funds (b)		3,112		3,112		-		-
Annuity contracts (c)		6,688		-		-		6,688
Total	$	21,354	$	14,666	$	-	$	6,688
Investments Measured at Net Asset Value (d)		45,984
Total	$	67,338

	2024		2023
Fixed income funds	$	35,089	$	29,057
International equity securities		1,808		2,251
Real estate		5,209		6,315
Hedged equity mutual funds		6,746		8,361
Total	$	48,852	$	45,984

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]

	2024			2023
Beginning balance	$	6,688		$	6,302
Actual return on plan assets:
Relating to assets still held at reporting date		605			184
Purchases, sales and settlements, net		(1,029	)		203
Ending balance	$	6,264		$	6,688

Schedule of Expected Benefit Payments [Table Text Block]

			Other
	*Pension*		*Postretirement*
	*Benefits*		*Benefits*

2025	$	7,593	$	519
2026		6,910		467
2027		6,805		431
2028		6,769		396
2029		6,061		356
Years 2029 - 2033		30,967		1,234

Note S - Derivative Financial Instruments (Tables)

12 Months Ended

Jun. 30, 2024

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

	Balance Sheet Location	2024		2023
Derivatives designated as hedges:
Interest rate swaps	Other current assets	$	218	$	292
Interest rate swaps	Other noncurrent assets		76		187

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]

	Statement of Operations and
	Comprehensive Income Location	2024			2023
Derivatives designated as hedges:
Interest rate swap	Interest expense	$	262		$	311
Interest rate swap	Unrealized (loss) gain on hedges		(184	)		332
Net investment hedge	Unrealized gain (loss) on hedges		230			(278	)

Schedule II - Valuation and Qualifying Accounts - Valuation and Qualifying Accounts (Details) - USD ($)
$ in Thousands

12 Months Ended

Jun. 30, 2024

Jun. 30, 2023

SEC Schedule, 12-09, Allowance, Credit Loss [Member]

Balance at Beginning of Period

$ 1,221

$ 1,741

Charged to Costs and Expenses

240

140

Adjustments

660

Balance at End of Period

1,383

1,221

SEC Schedule, 12-09, Reserve, Inventory [Member]

Balance at Beginning of Period

12,858

11,557

Charged to Costs and Expenses

2,331

1,740

Adjustments

^[1]

2,496

439

Balance at End of Period

12,693

12,858

SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member]

Balance at Beginning of Period

22,345

23,097

Charged to Costs and Expenses

Adjustments

^[1]

(1,690)

752

Balance at End of Period

$ 24,035

$ 22,345

[1]	Activity primarily represents amounts written-off during the year, along with other adjustments (primarily foreign currency translation adjustments).

Note K - Business Segments and Foreign Operations - Reconciliation of Reportable Segment Net Sales and Net Earnings to Consolidated Totals (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Net sales	$ 295,127	$ 276,960
Net earnings attributable to Twin Disc	10,988	10,380
Operating Segments [Member]
Net sales	399,853	366,054
Net earnings attributable to Twin Disc	31,837	29,803
Intersegment Eliminations [Member]
Net sales	(104,726)	(89,094)
Net earnings attributable to Twin Disc	$ (20,849)	$ (19,423)

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

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Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

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Note J - Shareholders' Equity - Reconciliation for the Reclassifications Out of Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Actuarial loss	$ (2,079)
Total amortization	15,367	$ 14,465
Income taxes	4,121	3,788
Net income	11,246	10,677
MMTM adjustment		2,430
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Actuarial loss		16
Transition asset and prior service benefit	21	336
Translation	(64)	6
Total amortization	(2,122)	1,673
Income taxes	8	108
Net income	$ (2,114)	1,781
Plan merger remeasurement adjustment		$ (1,115)

Note H - Debt (Details Textual) $ in Thousands			12 Months Ended
Note H - Debt (Details Textual) $ in Thousands	Apr. 01, 2024 USD ($)	Apr. 17, 2020 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2021 USD ($)	Jul. 01, 2025 USD ($)	Jan. 01, 2025	May 31, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 29, 2018 USD ($)
Cash Flow Hedging [Member] \| Designated as Hedging Instrument [Member] \| Interest Rate Swap [Member] \| Bank of Montreal [Member]
Derivative, Notional Amount			$ 9,500					$ 20,000
Katsa Oy [Member]
Business Acquisition, Transaction Costs			600				$ 400
Line of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 1,053					$ 1,057
Debt, Weighted Average Interest Rate			5.14%					5.10%
Paycheck Protection Program CARES Act [Member] \| Promissory Note [Member]
Proceeds from Issuance of Long-Term Debt		$ 8,200
Gain (Loss) on Extinguishment of Debt				$ 8,200
BMO [Member] \| The 2018 Credit Agreement [Member]
Debt Instrument, Percentage of Equity Interest in Domestic Subsidiaries Pledged			100.00%
Debt Instrument, Percentage of Equity Interest in Foreign Subsidiaries Pledged			65.00%
Debt Instrument, Debt Default, Percentage of Letter of Credit Obligations Required to Cash Collateralize			105.00%
BMO [Member] \| The 2018 Credit Agreement [Member] \| Term Loan [Member]
Debt Agreement, Maximum Borrowing Capacity			$ 20,000
Debt Instrument, Periodic Payment, Total			$ 500
Debt Instrument, Interest Rate During Period			6.97%
BMO [Member] \| The 2018 Credit Agreement [Member] \| Revolving Credit Facility [Member]
Debt Agreement, Maximum Borrowing Capacity									$ 35,000
Line of Credit Facility, Maximum Borrowing Capacity									$ 50,000
Debt Instrument, Interest Rate During Period			5.67%
Line of Credit Facility, Current Borrowing Capacity			$ 42,813
Line of Credit Facility, Remaining Borrowing Capacity			26,525
BMO [Member] \| The 2018 Credit Agreement [Member] \| Revolving Credit Facility [Member] \| Maximum [Member]
Debt Instrument, Covenant, Maximum Cash Dividends	$ 5,000
BMO [Member] \| The Tenth Amendment [Member]
Debt Instrument, Covenant, Maximum Cash Dividends	$ 5,000
BMO [Member] \| The Tenth Amendment [Member] \| Term Loan [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	3.625%
BMO [Member] \| The Tenth Amendment [Member] \| Term Loan [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.125%
BMO [Member] \| The Tenth Amendment [Member] \| Unused Revolving Credit Commitment [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.30%
BMO [Member] \| The Tenth Amendment [Member] \| Unused Revolving Credit Commitment [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.15%
BMO [Member] \| The Tenth Amendment [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 45,000
Debt Instrument, Borrowing Base, Percentage of Receivables	85.00%
Debt Instrument, Borrowing Base Two	$ 35,000
Debt Instrument, Borrowing Base, Percentage of Receivables Two	60.00%
BMO [Member] \| The Tenth Amendment [Member] \| Revolving Credit Facility [Member] \| Forecast [Member]
Debt Instrument, Borrowing Base Two					$ 32,500
Debt Instrument, Borrowing Base, Percentage of Receivables Two					50.00%	55.00%
BMO [Member] \| The Tenth Amendment [Member] \| Revolving Credit Facility [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	3.50%
BMO [Member] \| The Tenth Amendment [Member] \| Revolving Credit Facility [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.00%
Debt Instrument, Borrowing Base, Percentage of Receivables	50.00%
Debt Instrument, Borrowing Base	$ 30,000
BMO [Member] \| The Ninth Amendment [Member]
Debt Instrument, Covenant, Maximum Cash Dividends	$ 3,000
BMO [Member] \| The Ninth Amendment [Member] \| Term Loan [Member]
Debt Instrument, Covenant, Minimum Tangible Net Worth Plus Half of Net Income			$ 100,000
BMO [Member] \| The Ninth Amendment [Member] \| Term Loan [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.875%		3.625%
BMO [Member] \| The Ninth Amendment [Member] \| Term Loan [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.375%		2.125%
BMO [Member] \| The Ninth Amendment [Member] \| Unused Revolving Credit Commitment [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.15%		0.30%
BMO [Member] \| The Ninth Amendment [Member] \| Unused Revolving Credit Commitment [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.10%		0.15%
BMO [Member] \| The Ninth Amendment [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 40,000
BMO [Member] \| The Ninth Amendment [Member] \| Revolving Credit Facility [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.75%		3.50%
Fixed Charge Coverage Ratio			1.1
BMO [Member] \| The Ninth Amendment [Member] \| Revolving Credit Facility [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%		2.00%
Total Funded Debt To EBITDA Allowable Ratio			3.5

Note C - Inventories (Tables)

12 Months Ended

Jun. 30, 2024

Schedule of Inventory, Current [Table Text Block]

	2024		2023
Finished parts	$	60,166	$	66,956
Work in process		23,096		23,374
Raw materials		47,222		41,600
	$	130,484	$	131,930

Note M - Engineering and Development Costs

12 Months Ended

Jun. 30, 2024

Research, Development, and Computer Software Disclosure [Text Block]

M. ENGINEERING AND DEVELOPMENT COSTS

Engineering and development costs include research and development expenses for new products, development and major improvements to existing products, and other costs for ongoing efforts to refine existing products. Research and development costs charged to operations totaled $2,629 and $2,458 in fiscal 2024 and 2023, respectively. Total engineering and development costs were $9,843 and $8,741 in fiscal 2024 and 2023, respectively, and are primarily recorded within Marketing, engineering and administration expenses on the consolidated statements of operations and comprehensive income.

Note K - Business Segments and Foreign Operations - Reconciliation of Reportable Segments Other Significant Reconciling Items to Consolidated Totals (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Interest income	$ 64	$ 33
Interest expense	1,443	2,253
Income taxes	4,121	3,788
Depreciation and amortization	9,981	9,359
Assets	312,058	289,181
Expenditures for segment assets	8,707	7,918
Depreciation and amortization		9,359
Operating Segments [Member]
Interest income	679	1,135
Interest expense	1,998	3,301
Income taxes	3,409	4,307
Depreciation and amortization	8,947	8,867
Assets	516,182	450,881
Expenditures for segment assets	8,035	5,710
Depreciation and amortization		8,868
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member]
Interest income	(615)	(1,102)
Interest expense	(555)	(1,048)
Income taxes	712	(519)
Depreciation and amortization	1,034
Assets	(204,124)	(161,700)
Expenditures for segment assets	$ 672	2,208
Depreciation and amortization		$ 491

Amount of asset recognized for present right to economic benefit.

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Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense.

Note J - Shareholders' Equity

12 Months Ended

Jun. 30, 2024

Equity [Text Block]

J. SHAREHOLDERS' EQUITY

The total number of shares of common stock outstanding at June 30, 2024 and 2023 was 13,995,024 and 13,818,068, respectively. At June 30, 2024 and 2023, treasury stock consisted of 637,778 and 814,734 shares of common stock, respectively. The Company issued 176,956 and 145,725 shares of treasury stock in fiscal 2024 and 2023, respectively, to fulfill its obligations under its incentive compensation plans. The Company also recorded forfeitures of 2,413 and 0 shares of previously issued restricted stock in fiscal 2024 and 2023, respectively. The difference between the cost of treasury shares and the option price is recorded in common stock.

Under an authorization given by the Board of Directors on July 27, 2012, the Company is permitted to make open market purchases of its common stock. The Company did not make any open market purchases during the two most recent fiscal years. As of June 30, 2024 and 2023, 315,000 shares remain authorized for purchase.

Cash dividends per share was $0.12 and $0.00 in fiscal 2024 and 2023.

The Company is authorized to issue 200,000 shares of preferred stock, none of which have been issued. The Company has designated 150,000 shares of the preferred stock as Series A Junior Preferred Stock.

The components of accumulated other comprehensive loss included in equity as of June 30, 2024 and 2023 are as follows:

	2024			2023
Translation adjustments	$	(849	)	$	(1,582	)
Benefit plan adjustments, net of income taxes of ($141) and ($133) respectively		(8,062	)		(5,948	)
Net gain on cash flow hedge derivatives, net of income taxes of ($210) and ($210), respectively		504			688
Net gain on net investment hedge derivatives, net of income taxes of $103 and $103, respectively		1,502			1,272
Accumulated other comprehensive loss	$	(6,905	)	$	(5,570	)

A reconciliation for the changes in accumulated other comprehensive loss, net of tax, by component for the years ended June 30, 2024 and June 30, 2023 is as follows:

	Translation			Benefit Plan			Cash Flow		Net Investment
	Adjustment			Adjustment			Hedges		Hedges
Balance at June 30, 2022	$	(2,266	)	$	(6,614	)	$	356	$	1,550
Other comprehensive loss before reclassifications		684			-			-		-
Plan merger remeasurement adjustment					(1,115	)
Amounts reclassified from accumulated other comprehensive loss		-			1,781			332		(278	)
Net current period other comprehensive income (loss)		684			666			332		(278	)
Balance at June 30, 2023	$	(1,582	)	$	(5,948	)	$	688	$	1,272

	Translation			Benefit Plan			Cash Flow			Net Investment
	Adjustment			Adjustment			Hedges			Hedges
Balance at June 30, 2023	$	(1,582	)	$	(5,948	)	$	688		$	1,272
Other comprehensive loss before reclassifications		733			-			-			-
Amounts reclassified from accumulated other comprehensive loss		-			(2,114	)		(184	)		230
Net current period other comprehensive income (loss)		733			(2,114	)		(184	)		230
Balance at June 30, 2024	$	(849	)	$	(8,062	)	$	504		$	1,502

A reconciliation for the reclassifications out of accumulated other comprehensive loss, net of tax, for the year ended June 30, 2024 is as follows:

	Amount
	Reclassified
Changes in benefit plan items
Actuarial loss	$	(2,079	)
Transition asset and prior service benefit		21
Translation		(64	)
Total amortization		(2,122	)
Income taxes		8
Total changes, net of tax	$	(2,114	)

A reconciliation for the reclassifications out of accumulated other comprehensive loss, net of tax, for the year ended June 30, 2023 is as follows:

	Amount
	Reclassified
Changes in benefit plan items
Actuarial income	$	16
Transition asset and prior service benefit		336
Plan merger remeasurement adjustment		(1,115	)
MMTM adjustment		2,430
Translation		6
Total amortization		1,673
Income taxes		108
Total changes, net of tax	$	1,781

The entire disclosure for equity.

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Note H - Debt

12 Months Ended

Jun. 30, 2024

Debt Disclosure [Text Block]

H. DEBT

Long-term debt consisted of the following at June 30:

	2024			2023
Credit Agreement Debt
Revolving loans (expire April 2027)	$	16,288		$	7,094
Term loan (due April 2027)		9,500			11,500
Other		23			33
Subtotal		25,811			18,627
Less: current maturities		(2,000	)		(2,010	)
Total long-term debt	$	23,811		$	16,617

Credit Agreement Debt:

On June 29, 2018, the Company entered into a Credit Agreement (the “Credit Agreement”) with BMO Harris Bank N.A. (“BMO”) that provided for the assignment and assumption of the previously existing loans between the Company and Bank of Montreal (the “2016 Credit Agreement”) and subsequent amendments into a term loan (the “Term Loan”) and revolving credit loans (each a “Revolving Loan” and, collectively, the “Revolving Loans,” and, together with the Term Loan, the “Loans”). Pursuant to the Credit Agreement, BMO agreed to make the Term Loan to the Company in a principal amount not to exceed $35.0 million and the Company may, from time to time prior to the maturity date, enter into Revolving Loans in amounts not to exceed, in the aggregate, $50.0 million (the “Revolving Credit Commitment”), subject to a Borrowing Base based on Eligible Inventory and Eligible Receivables. Subsequent amendments to the Credit Agreement reduced the Term Loan to $20.0 million, extended the maturity date of the Term Loan to April 1, 2027, and require the Company to make principal installment payments on the Term Loan of $0.5 million per quarter. In addition, under subsequent amendments to the Credit Agreement, BMO’s Revolving Credit Commitment is currently $45.0 million. The Credit Agreement also allows the Company to obtain Letters of Credit from BMO, which if drawn upon by the beneficiary thereof and paid by BMO, would become Revolving Loans. Under the Credit Agreement, the Company may not pay cash dividends on its common stock in excess of $5.0 million in any fiscal year. The term of the Revolving Loans under the Credit Agreement currently runs through April 1, 2027.

Under the Credit Agreement as amended, interest rates are based on either the secured overnight financing rate (“SOFR”) or the euro interbank offered rate (the “EURIBO Rate”). Loans are designated either as “SOFR Loans,” which accrue interest at an Adjusted Term SOFR plus an Applicable Margin, or “Eurodollar Loans,” which accrue interest at the EURIBO Rate plus an Applicable Margin. Amounts drawn on a Letter of Credit that are not timely reimbursed to the Bank bear interest at a Base Rate plus an Applicable Margin. The Company also pays a commitment fee on the average daily Unused Revolving Credit Commitment equal to an Applicable Margin. Currently, the Applicable Margins are between 2.00% and 3.50% for Revolving Loans and Letters of Credit; 2.125% and 3.625% for Term Loans; and 0.15% and 0.30% for the Unused Revolving Credit Commitment (each depending on the Company’s Total Funded Debt to EBITDA ratio).

The Credit Agreement, as amended, requires the Company to meet certain financial covenants. Specifically, the Company’s Total Funded Debt to EBITDA ratio may not exceed 3.50 to 1.00, and the Company’s Fixed Charge Coverage Ratio may not be less than 1.10 to 1.00. In determining whether the Company is in compliance with its Total Funded Debt/EBITDA Ratio, the Company’s EBITDA will include transaction expenses of up to $0.6 million for the Katsa acquisition, as well as pro-forma EBITDA of Katsa as permitted by the Bank. The Company’s Tangible Net Worth may not be less than $100.0 million plus 50% of positive Net Income for each fiscal year ending on or after June 30, 2023.

Borrowings under the Credit Agreement are secured by substantially all of the Company’s personal property, including accounts receivable, inventory, machinery and equipment, and intellectual property. The Company has also pledged 100% of its equity interests in certain domestic subsidiaries and 65% of its equity interests in certain foreign subsidiaries. The Company also entered into a Collateral Assignment of Rights under Purchase Agreement for its acquisition of Veth Propulsion. To effect these security interests, the Company entered into various amendment and assignment agreements that consent to the assignment of certain agreements previously entered into between the Company and the Bank of Montreal in connection with the 2016 Credit Agreement. The Company also amended and assigned to BMO a Negative Pledge Agreement that it has previously entered into with Bank of Montreal, pursuant to which it agreed not to sell, lease or otherwise encumber real estate that it owns except as permitted by the Credit Agreement and the Negative Pledge Agreement.

The Company has also entered into a Deposit Account Control Agreement with the Bank, reflecting the Bank’s security interest in deposit accounts the Company maintains with the Bank. The Bank may not provide a notice of exclusive control of a deposit account (thereby obtaining exclusive control of the account) prior to the occurrence or existence of a Default or an Event of Default under the Credit Agreement or otherwise upon the occurrence or existence of an event or condition that would, but for the passage of time or the giving of notice, constitute a Default or an Event of Default under the Credit Agreement.

Upon the occurrence of an Event of Default, BMO may take the following actions upon written notice to the Company: (1) terminate its remaining obligations under the Credit Agreement; (2) declare all amounts outstanding under the Credit Agreement to be immediately due and payable; and (3) demand the Company to immediately Cash Collateralize L/C Obligations in an amount equal to 105% of the aggregate L/C Obligations or a greater amount if BMO determines a greater amount is necessary. If such Event of Default is due to the Company’s bankruptcy, BMO may take the three actions listed above without notice to the Company.

On April 1, 2024, the Company entered into Amendment No. 10 to Credit Agreement (the “Tenth Amendment”) that amended and extended the Credit Agreement. The Tenth Amendment increased the Revolving Credit Commitment from $40.0 million to $45.0 million, and also increased the Borrowing Base for Revolving Loans from the sum of (a) 85% of outstanding unpaid Eligible Receivable and (b) the lesser of $30.0 million and 50% of Eligible Inventory to the sum of (a) 85% of outstanding unpaid Eligible Receivables and (b) the lesser of $35.0 million (reduced to $32.5 million beginning with the first quarter of the 2026 fiscal year) and 60% of Eligible Inventory (reduced to 55% of Eligible Inventory beginning with the third quarter of the 2025 fiscal year, and 50% of Eligible Inventory beginning with the first quarter of the 2026 fiscal year).

The Company used the increased borrowing capacity under the Credit Agreement to help finance its acquisition of Katsa by TD Finland Holding Oy, a wholly-owned subsidiary of the Company. The Tenth Amendment specifically permits the Company to use Revolving Loans for the Katsa acquisition

The Tenth Amendment also extended the Credit Agreement through April 1, 2027 and extended the maturity date of the Term Loan and the Term Loan Commitment Date to April 1, 2027.

The Tenth Amendment also increased the Applicable Margins under the Credit Agreement for purposes of determining interest rates on Revolving Loans, Letters of Credit, Term Loans, and the Unused Revolving Credit Commitment. Prior to the Tenth Amendment, the Applicable Margins were between 1.25% and 2.75% for Revolving Loans and Letters of Credit; 1.375% and 2.875% for Term Loans; and .10% and .15% for the Unused Revolving Credit Commitment (each depending on the Company’s Total Funded Debt to EBITDA ratio). Under the Tenth Amendment, the Applicable Margins are between 2% and 3.5% for Revolving Loans and Letters of Credit; 2.125% and 3.625% for Term Loans; and .15% and .3% for the Unused Revolving Credit Commitment (each depending on the Company’s Total Funded Debt to EBITDA ratio).

The Tenth Amendment also increased the amount of Restricted Payments that the Company may make in the form of cash dividends, distributions, purchases, redemptions, or other acquisitions of its common stock from $3.0 million to $5.0 million in any fiscal year.

During fiscal year 2024, the average interest rate was 6.97% on the Term Loan, and 5.67% on the Revolving Loans.

As of June 30, 2024, the Company’s borrowing capacity under the terms of the Credit Agreement was approximately $42,813 and the Company had approximately $26,525 of available borrowings.

The Company’s borrowings described above approximates fair value at June 30, 2024 and June 30, 2023. If measured at fair value in the financial statements, long-term debt (including the current portion) would be classified as Level 2 in the fair value hierarchy.

The Company is party to an interest rate swap arrangement with Bank of Montreal, with an initial amount of $20,000 and a maturity date of March 4, 2026 to hedge the Term Loan. As of June 30, 2024, the notional amount was $9,500. This swap has been designated as a cash flow hedge under ASC 815, Derivatives and Hedging. This swap is included in the disclosures in Note S, Derivative Financial Instruments.

During the fourth quarter of fiscal 2021, the Company designated its euro denominated Revolving Loan as a net investment hedge to mitigate the risk of variability in its euro denominated net investments in wholly-owned foreign companies. Effective upon the designation, all changes in fair value of the euro Revolving Loan are reported in accumulated other comprehensive loss along with the foreign currency translation adjustments on those foreign investments. This net investment hedge is included in the disclosures in Note S, Derivative Financial Instruments.

The aggregate scheduled maturities of outstanding long-term debt obligations in subsequent years are as follows:

Fiscal Year
2025	$	2,000
2026		2,000
2027		21,788
2028		-
2029		-
Thereafter		23
	$	25,811

The PPP Loan:

On April 17, 2020, the Company entered into a promissory note (the “PPP Loan”) evidencing an unsecured loan in the amount of $8,200 made to the Company under the Payment Protection Plan ("PPP"). The PPP is a liquidity facility program established by the U.S. government as part of the CARES Act in response to the negative economic impact of the COVID-19 outbreak. The PPP Loan is funded by the Small Business Administration (“SBA”) and administered by BMO. The PPP Loan has a two-year term and bears interest at a rate of 1.0% per annum. Monthly principal and interest payments were deferred until April 2022.

The PPP Loan is a forgivable loan to the extent proceeds are used to cover qualified documented payroll, mortgage interest, rent, and utility costs over a 24-week measurement period (as amended) following loan funding. For the loan to be forgiven, the Company was required to formally apply for forgiveness, and potentially, could be required to pass an audit that it met the eligibility qualifications of the loan.

In accounting for the terms of the PPP Loan, the Company is guided by ASC 470 Debt, and ASC 450-30 Gain contingency. Accordingly, it recorded the proceeds of the PPP Loan of $8,200 as debt and derecognized the liability when the loan was forgiven. The Company believed that the possibility of loan forgiveness was to be regarded as a contingent gain and therefore did not recognize the gain (and derecognize the loan) until all uncertainty was removed (i.e., all conditions for forgiveness are met). The Company applied for forgiveness, and on June 16, 2021, it was notified by BMO that the SBA remitted funds to BMO to repay the PPP Loan in full, evidencing that the PPP Loan was fully forgiven. The Company removed the balance of the PPP Loan from its consolidated balance sheet and recorded $8,200 in income from extinguishment of loan in its consolidated statement of operations in fiscal 2021.

While the loan has been formally forgiven, under the terms of the PPP Loan, the Company remains subject to an audit by the SBA for a period of six years after forgiveness. The audit is intended to confirm the Company’s eligibility for the PPP loan and the appropriateness of the PPP loan forgiveness. In accordance with ASC 450 Contingencies, the Company assessed the probability of failing the audit and being required to repay all or any portion of the PPP Loan. The Company is aware of the requirements and has retained all necessary documentation in support of its eligibility, including gross receipts calculations, supporting payroll expenses and related information. The Company believes that it has materially complied with all the requirements of the PPP and reasonably assured it would satisfy the requirements of an audit.

Other lines of credit:

The Company has established unsecured lines of credit, which may be withdrawn at the option of the banks. Under these arrangements, the Company has unused and available credit lines of $1,053 with a weighted average interest rate of 5.14% as of June 30, 2024, and $1,057 with a weighted average interest rate of 5.1% as of June 30, 2023.

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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Note N - Pension and Other Postretirement Benefit Plans - Schedule of Assumptions (Details)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Pension Plan [Member]
Discount rate	5.25%	5.29%
Expected return on plan assets	6.54%	6.65%
Discount rate	5.07%	5.02%
Expected return on plan assets	6.47%	6.42%
Other Postretirement Benefits Plan [Member]
Discount rate	5.66%	5.74%
Discount rate	5.74%	4.83%

Note G - Warranty (Tables)

12 Months Ended

Jun. 30, 2024

Schedule of Product Warranty Liability [Table Text Block]

	2024			2023

Reserve balance, July 1	$	3,476		$	3,329
Current period expense and adjustments		5,850			2,451
Payments or credits to customers		(5,102	)		(2,268	)
Translation adjustment		(4	)		(36	)
Reserve balance, June 30	$	4,220		$	3,476

Note O - Income Taxes - Reconciliation of U.S. Federal Income Taxes to Actual Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
U.S. federal income tax at 21%	$ 3,227	$ 3,038
US Foreign inclusion items	463	67
Foreign rate differences	555	739
Foreign permanent items	127	20
Foreign prior period adjustments	118	166
Foreign other	3	(90)
Foreign bargain purchase gain	(782)	0
Foreign tax ruling	(786)	0
Foreign uncollectible tax receivable	238	0
State taxes	(144)	69
Change in prior year estimate	96	(113)
Research & development tax credits	(47)	(127)
Foreign tax credits	(480)	0
Unrecognized tax benefits	3	64
Stock compensation	(445)	(13)
Rate changes	0	(39)
Deferred tax basis adjustments	132	41
Executive compensation	471	219
GILTI Inclusion	0	97
FDII Deduction	0	0
Valuation Allowance	1,110	(426)
Other, net	262	76
Income tax (benefit) expense	$ 4,121	$ 3,788

Note N - Pension and Other Postretirement Benefit Plans

12 Months Ended

Jun. 30, 2024

Retirement Benefits [Text Block]

N. PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS

The Company has non-contributory, qualified defined benefit pension plans covering substantially all domestic employees hired prior to October 1, 2003, and certain foreign employees. Domestic plan benefits are based on years of service, and, for salaried employees, on average compensation for benefits earned prior to January 1, 1997, and on a cash balance plan for benefits earned from January 1, 1997 through July 31, 2009, at which time the Company froze future accruals under domestic defined benefit pension plans. To reduce administration costs, in December 2022, the Company merged its domestic hourly and salaried defined benefit pension plans into a single plan. Due to the merger, an interim remeasurement was required which resulted in a net measurement loss (gain on liability offset by loss on assets) which increased the net liability from an expected amount of $1.5 million to a measured amount of $2.6 million. Lower future administrative costs are expected to be favorable to the net liability in subsequent measurements. The Company's funding policy for the plans covering domestic employees is to contribute an actuarially determined amount which falls between the minimum required contribution and maximum amount that can be deducted for federal income tax purposes.

In addition, the Company has unfunded, non-qualified retirement plans for certain management employees and Directors. In the case of management employees, benefits are based on an annual credit to a bookkeeping account, intended to restore the benefits that would have been earned under the qualified plans, but for the earnings limitations under the Internal Revenue Code. In the case of Directors, benefits are based on years of service on the Board. All benefits vest upon retirement from the Company.

In addition to providing pension benefits, the Company provides other postretirement benefits, including healthcare and life insurance benefits for certain domestic retirees. All employees retiring after December 31, 1992, and electing to continue healthcare coverage through the Company's group plan, are required to pay 100% of the premium cost.

The measurement date for the Company’s pension and postretirement benefit plans in fiscal 2024 and 2023 was June 30.

As discussed in Note A, during the fourth quarter of fiscal year 2023, the Company changed its accounting method related to the recognition of actuarial gains and losses for its pension and postretirement benefit plans. Under the new method, actuarial gains and losses are recognized in net periodic benefit costs upon annual remeasurement in the fourth quarter, or on an interim basis as triggering events warrant remeasurement. These changes have been applied retrospectively to prior years presented below. See Note A for further information regarding the impact of the change in accounting principle on the Company’s consolidated financial statements.

The income to the Company of its retirement benefit plans is shown in the following table:

	Year Ended June 30
	Pension Benefits						Other Postretirement Benefits
Components of net periodic benefit income:	2024			2023			2024			2023
Service cost	$	373		$	338		$	8		$	10
Interest cost		3,609			3,570			191			213
Prior service cost		-			20			-			-
Expected return on plan assets		(4,283	)		(4,240	)		-			-
Amortization of transition obligation		38			38			-			-
Amortization of prior service cost (benefit)		35			(100	)		(708	)		(314	)
Amortization of actuarial net loss		65			2,451			-			-
Modified mark-to market effect		-			(2,428	)		-			-
Net periodic benefit income	$	(163	)	$	(351	)	$	(509	)	$	(91	)

Obligations and Funded Status

The following table sets forth the Company's defined benefit pension plans’ and other postretirement benefit plans’ funded status and the amounts recognized in the Company's balance sheets and statement of operations and comprehensive income as of June 30:

							Other
	*Pension*						*Postretirement*
	*Benefits*						*Benefits*
	*2024*			*2023*			*2024*			*2023*
Change in benefit obligation:
Benefit obligation, beginning of year	$	72,242		$	79,549		$	3,685		$	4,785
Service cost		373			340			8			10
Interest cost		3,609			3,571			191			213
Prior service cost		-			20			-			-
Actuarial loss (gain)		254			(3,361	)		(166	)		(633	)
Contributions by plan participants		116			112			-			-
Benefits paid		(8,484	)		(7,989	)		(549	)		(690	)
Benefit obligation, end of year	$	68,110		$	72,242		$	3,169		$	3,685

Change in plan assets:
Fair value of assets, beginning of year	$	67,338		$	73,338		$	-		$	-
Actual return on plan assets		3,101			1,141			-			-
Employer contribution		589			736			549			690
Contributions by plan participants		116			112			-			-
Benefits paid		(8,484	)		(7,989	)		(549	)		(690	)
Fair value of assets, end of year	$	62,660		$	67,338		$	-		$	-

Funded status	$	(5,450	)	$	(4,904	)	$	(3,169	)	$	(3,685	)

*Amounts recognized in the balance sheet consist of:*
Other assets - noncurrent	$	-		$	28		$	-		$	-
Accrued liabilities - current		(260	)		(308	)		(505	)		(701	)
Accrued retirement benefits - noncurrent		(5,190	)		(4,624	)		(2,664	)		(2,984	)
Net amount recognized	$	(5,450	)	$	(4,904	)	$	(3,169	)	$	(3,685	)

*Amounts recognized in accumulated other comprehensive loss consist of (net of tax):*
Net transition obligation	$	53		$	83		$	-		$	-
Prior service benefit		(145	)		(42	)		-			(67	)
Actuarial net loss (gain)		8,768			7,064			(614	)		(1,090	)
Net amount recognized	$	8,676		$	7,105		$	(614	)	$	(1,157	)

The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year for the qualified defined benefit and other postretirement benefit plans are as follows:

				Other
	*Pension*			*Postretirement*
	*Benefits*			*Benefits*
Net transition obligation	$	96		$	-
Prior service benefit		(32	)		-
Actuarial net loss (gain)		239			(262	)
Net amount to be recognized	$	303		$	(262	)

The accumulated benefit obligation for all defined benefit pension plans was approximately $68,110 and $72,242 at June 30, 2024 and 2023, respectively.

Information for pension plans with an accumulated benefit obligation in excess of plan assets:

	June 30
	2024		2023
Projected and accumulated benefit obligation	$	64,286	$	67,808
Fair value of plan assets		58,839		62,876

Components of Net Periodic Benefit Income:

	Pension Benefits
	2024			2023
Service cost	$	373		$	338
Interest cost		3,609			3,570
Prior service cost		-			20
Expected return on plan assets		(4,283	)		(4,240	)
Amortization of transition obligation		38			38
Amortization of prior service cost (benefit)		35			(100	)
Amortization of actuarial net loss		65			23

Net periodic benefit income	$	(163	)	$	(351	)

	Other Postretirement Benefits
	2024			2023
Service cost	$	8		$	10
Interest cost		191			213
Amortization of prior service benefit		(708	)		(314	)

Net periodic benefit income	$	(509	)	$	(91	)

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income for Fiscal 2024 (Pre-tax):

				Other
				Postretirement
	Pension			Benefits
Net loss (income)	$	1,656		$	(165	)
Amortization of transition asset		(38	)		-
Amortization of prior service (benefit) cost		(34	)		88
Amortization of net (income) loss		(64	)		620
Total recognized in other comprehensive loss		1,520			543
Net periodic benefit income		(163	)		(509	)
Total recognized in net periodic benefit income and other comprehensive loss	$	1,357		$	34

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss for Fiscal 2023 (Pre-tax):

				Other
				Postretirement
	Pension			Benefits
Net income	$	(307	)	$	(633	)
Amortization of transition asset		(38	)		-
Amortization of prior service cost		99			275
Amortization of net (income) loss		(23	)		39
Total recognized in other comprehensive income		(269	)		(319	)
Net periodic benefit income		(351	)		(91	)
Total recognized in net periodic benefit income and other comprehensive income	$	(620	)	$	(410	)

Additional Information

Assumptions

							Other
	Pension Benefits						Postretirement Benefits
Weighted average assumptions used to determine benefit obligations at June 30
	*2024*			*2023*			*2024*			*2023*
Discount rate		5.25	%		5.29	%		5.66	%		5.74	%
Expected return on plan assets		6.54	%		6.65	%

							Other
	Pension Benefits						Postretirement Benefits
Weighted average assumptions used to determine net periodic benefit costs for years ended June 30
	*2024*			*2023*			*2024*			*2023*
Discount rate		5.07	%		5.02	%		5.74	%		4.83	%
Expected return on plan assets		6.47	%		6.42	%

The assumed weighted-average healthcare cost trend rate was 8.30% in 2024, grading down to 5.00% in 2025.

Plan Assets

The Company’s Benefits Committee (“Committee”), a non-board management committee, oversees investment matters related to the Company’s funded benefit plans. The Committee works with external actuaries and investment consultants on an ongoing basis to establish and monitor investment strategies and target asset allocations. The overall objective of the Committee’s investment strategy is to earn a rate of return over time to satisfy the benefit obligations of the pension plans and to maintain sufficient liquidity to pay benefits and address other cash requirements of the pension plans. The Committee has established an Investment Policy Statement which provides written documentation of the Company’s expectations regarding its investment programs for the pension plans, establishes objectives and guidelines for the investment of the plan assets consistent with the Company’s financial and benefit-related goals, and outlines criteria and procedures for the ongoing evaluation of the investment program. The Company employs a total return on investment approach whereby a mix of investments among several asset classes are used to maximize long-term return of plan assets while avoiding excessive risk. Investment risk is measured and monitored on an ongoing basis through quarterly investment portfolio reviews, and annual liability measurements.

The Company’s pension plan weighted-average asset allocations at June 30, 2024 and 2023 by asset category were as follows:

	Target		June 30
Asset Category	Allocation		2024		2023
Equity securities		38%		19%		40%
Debt securities		55%		71%		49%
Real estate		7%		10%		11%
		100%		100%		100%

Due to market conditions and other factors, actual asset allocation may vary from the target allocation outlined above. The U.S. pension plans held 98,211 shares of Company stock with a fair market value of $1,157 (1.8% of total plan assets) at June 30, 2024 and 98,211 shares with a fair market value of $1,106 (1.6% of total plan assets) at June 30, 2023.

The U.S. plans have a long-term return assumption of 7.0%. This rate was derived based upon historical experience and forward-looking return expectations for major asset class categories.

Fair value is defined as the price that would be received on the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The inputs used to measure fair value are classified into the following hierarchy:

	Level I	Unadjusted quoted prices in active markets for identical instruments
	Level II	Unadjusted quoted prices in active markets for similar instruments, or
		Unadjusted quoted prices for identical or similar instruments in markets that are not active, or
		Other inputs that are observable in the market or can be corroborated by observable market data
	Level III	Use of one or more significant unobservable inputs

The following table presents plan assets using the fair value hierarchy as of June 30, 2024:

	Total		Level I		Level II		Level III
Cash and cash equivalents	$	647	$	647	$	-	$	-
Equity securities:
Company common stock (a)		1,157		1,157		-		-
Common stock (a)		1,479		1,479		-		-
Mutual funds (b)		4,261		4,261		-		-
Annuity contracts (c)		6,264		-		-		6,264
Total	$	13,808	$	7,544	$	-	$	6,264
Investments Measured at Net Asset Value (d)		48,852
Total	$	62,660

	Total		Level I		Level II		Level III
Cash and cash equivalents	$	858	$	858	$	-	$	-
Equity securities:
Company common stock (a)		1,106		1,106		-		-
Common stock (a)		9,590		9,590		-		-
Mutual funds (b)		3,112		3,112		-		-
Annuity contracts (c)		6,688		-		-		6,688
Total	$	21,354	$	14,666	$	-	$	6,688
Investments Measured at Net Asset Value (d)		45,984
Total	$	67,338

(a) Common stock is valued at the closing price reported on the active market on which the individual securities are traded. These securities include U.S. equity securities invested in companies that are traded on exchanges inside the U.S. and international equity securities invested in companies that are traded on exchanges outside the U.S.

(b) Mutual funds are valued at the daily closing price as reported by the fund. Mutual funds held by the Company’s funded benefit plans are open-end mutual funds that are registered with the Securities Exchange Commission. These funds are required to publish their daily net asset value (“NAV”) and to transact at that price. The mutual funds held by the Company’s funded benefit plans are deemed to be actively traded.

(c) Annuity contracts represent contractual agreements in which payments are made to an insurance company, which agrees to pay out an income or lump sum amount at a later date. Annuity contracts are valued at fair value using the net present value of future cash flows.

(d) In accordance with ASC 820-10, certain investments that were measured at net asset value per share (or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the fair value of plan assets at the end of the year.

The following table sets forth additional disclosures for the fair value measurement of the fair value of pension plan assets that calculate fair value based on NAV per share practical expedient as of June 30, 2024 and June 30, 2023:

	2024		2023
Fixed income funds	$	35,089	$	29,057
International equity securities		1,808		2,251
Real estate		5,209		6,315
Hedged equity mutual funds		6,746		8,361
Total	$	48,852	$	45,984

The following tables present a reconciliation of the fair value measurements using significant unobservable inputs (Level III) as of June 30, 2024 and 2023:

	2024			2023
Beginning balance	$	6,688		$	6,302
Actual return on plan assets:
Relating to assets still held at reporting date		605			184
Purchases, sales and settlements, net		(1,029	)		203
Ending balance	$	6,264		$	6,688

Cash Flows

Contributions

The Company expects to contribute $542 to its defined benefit pension plans in fiscal 2025.

The Company expects to contribute $519 to its other postretirement benefit plans in fiscal 2025.

Estimated Future Benefit Payments

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:

			Other
	*Pension*		*Postretirement*
	*Benefits*		*Benefits*

2025	$	7,593	$	519
2026		6,910		467
2027		6,805		431
2028		6,769		396
2029		6,061		356
Years 2029 - 2033		30,967		1,234

The Company does not expect to make any Part D reimbursements for the periods presented.

The Company sponsors defined contribution plans covering substantially all domestic employees and certain foreign employees. These plans provide for employer contributions based primarily on employee participation. The total expense under the plans was $2,447 and $2,260 in fiscal 2024 and 2023, respectively. These amounts are recorded in cost of goods sold and marketing, engineering and administration costs.

The entire disclosure for retirement benefits.

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Note J - Shareholders' Equity - Shareholders' Equity Reconciliation (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Translation adjustments	$ (849)	$ (1,582)
Benefit plan adjustments, net of income taxes of ($141) and ($133) respectively	(8,062)	(5,948)
Net gain on cash flow hedge derivatives, net of income taxes of ($210) and ($210), respectively	504	688
Net gain on net investment hedge derivatives, net of income taxes of $103 and $103, respectively	1,502	1,272
Accumulated other comprehensive loss	$ (6,905)	$ (5,570)

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

Note J - Shareholders' Equity - Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Balance	$ 145,517	$ 131,188
Balance	155,054	145,517
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(1,582)	(2,266)
Other comprehensive loss before reclassifications	733	684
Amounts reclassified from accumulated other comprehensive loss	0	0
Net current period other comprehensive income (loss)	733	684
Balance	(849)	(1,582)
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
Balance	(5,948)	(6,614)
Other comprehensive loss before reclassifications	0	0
Plan merger remeasurement adjustment		(1,115)
Amounts reclassified from accumulated other comprehensive loss	(2,114)	1,781
Net current period other comprehensive income (loss)	(2,114)	666
Balance	(8,062)	(5,948)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Balance	688	356
Other comprehensive loss before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive loss	(184)	332
Net current period other comprehensive income (loss)	(184)	332
Balance	504	688
Accumulated Gain (Loss), Net, Net Investment Hedge [Member]
Balance	1,272	1,550
Other comprehensive loss before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive loss	230	(278)
Net current period other comprehensive income (loss)	230	(278)
Balance	$ 1,502	$ 1,272

Amount after tax, before reclassification adjustments of other comprehensive income (loss).

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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Amount after tax of reclassification adjustments of other comprehensive income (loss).

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

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Note F - Accrued Liabilities (Tables)

12 Months Ended

Jun. 30, 2024