Property, Plant and Equipment, Type [Axis]
Land [Member]
Building and improvements [Member]
Machinery and equipment [Member]
Furniture and fixtures [Member]
Financial Instrument [Axis]
Certificates of deposit [Member]
Municipal bonds [Member]
Concentration Risk Benchmark [Axis]
Sales Revenue [Member]
Concentration Risk Type [Axis]
Domestic U.S. Customers [Member]
Foreign Customers [Member]
Equity Components [Axis]
Common Stock [Member]
Capital in Excess of Par Value [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Retained Earnings [Member]
Treasury Stock [Member]
Unearned ESOP Shares [Member]
Award Type [Axis]
Non-qualified stock options [Member]
Employee Stock Ownership Plan (ESOP) Name [Axis]
Employee Stock Ownership Plan [Member]
Accounts receivable [Member]
Adjustments for New Accounting Pronouncements [Axis]
ASC 606 [Member]
Scenario [Axis]
Units Delivered [Member]
Milestones Achieved [Member]
Accounts Receivable [Member]
Range [Axis]
Lower Range [Member]
Upper Range [Member]
Finite-Lived Intangible Assets by Major Class [Axis]
Backlog [Member]
Forecast [Member]
Incentive Stock Options [Member]
Plan Name [Axis]
2017 Plan [Member]
Stock Options [Member]
Title of Individual [Axis]
Non-employee Director [Member]
Individual Employee [Member]
Variable Rate [Axis]
LIBOR [Member]
Subsequent Event Type [Axis]
Subsequent Event [Member]
Special Dividend [Member]
Document And Entity Information
Document Type
Entity Central Index Key
Current Fiscal Year End Date
Document Fiscal Year Focus
Document Annual Report
Document Transition Report
Document Period End Date
Document Fiscal Period Focus
Entity File Number
Entity Registrant Name
Amendment Flag
Amendment description
Entity Incorporation, State or Country Code
Entity Tax Identification Number
Entity Address, Address Line One
Entity Address, Address Line Two
Entity Address, Address Line Three
Entity Address, City or Town
Entity Address, State or Province
Entity Address, Postal Zip Code
City Area Code
Local Phone Number
Title of 12(b) Security
Trading Symbol
Name of Exchange on which Security is Registered
Entity Well-Known Seasoned Issuer
Entity Voluntary Filers
Entity Current Reporting Status
Entity Interactive Data Current
Entity Filer Category
Entity Small Business
Entity Emerging Growth Company
Entity ExTransition Period
Entity Shell Company
Entity Public Float
Entity Common stock, closing sale price
Entity Common Stock, Shares Outstanding
Documents Incorporated By Reference Text Block
Statement of Financial Position [Abstract]
ASSETS
Cash and cash equivalents
Investment securities
Trade accounts receivable, net of allowance of $3,000
Income tax receivable
Inventories:
Raw materials
Work-in-process
Costs related to contracts in process
Total inventories
Prepaid expenses and other current assets
Total current assets
Property, plant and equipment, net
Total assets
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable
Accrued expenses:
Salaries and wages
Vacation
Other
Payroll and other taxes withheld
Contract liabilities
Income taxes payable
Total current liabilities
Deferred tax liabilities
Total liabilities
Commitments and Contingencies (See Note 14)
Common stock, par value $.33-1/3 per share Authorized 10,000,000 shares; Issued 3,029,874 shares as of June 30, 2020 and 2019. Outstanding 2,402,633 and 2,401,213 as of June 30, 2020 and 2019, respectively (includes 0 and 14,166 Unearned ESOP Shares, respectively)
Capital in excess of par value
Accumulated other comprehensive loss
Retained earnings
Total stockholders equity before ESOP and treasury stock
Less: Unearned ESOP shares
Cost of 627,241 and 628,661 shares of common stock in treasury as of June 30, 2020 and 2019, respectively
Total stockholders' equity
Total liabilities and stockholders' equity
Allowance for doubtful accounts
Advance payments
Common stock, par value
Common stock, shares authorized
Common stock, shares issued
Common stock, shares outstanding
Unearned ESOP, shares
Treasury stock, shares
Income Statement [Abstract]
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating Income
Other income
Interest income
Other
Total other income
Income before provision for income taxes
Provision for income taxes
Net income
Other comprehensive income, net of tax:
Unrealized (loss) gain on investment securities
Total comprehensive income
Net income per share:
Basic
Diluted
Weighted average number of shares outstanding:
Basic
Diluted
Statement [Table]
Statement [Line Items]
Balance, beginning
Balance, beginning, shares
Net income
Other comprehensive income loss, net of tax
Total comprehensive income
Stock options exercised
Stock options exercised, shares
Stock option expense
Stock-based compensation
Dividends paid on common stock per share
Tax effect of stock options exercised
Tax effect of dividends on unallocated ESOP shares
Purchase of treasury stock
Purchase of treasury stock, shares
Reduction of unearned ESOP shares
Balance, ending
Balance, ending, common shares
Statement of Stockholders' Equity [Abstract]
Other comprehensive income, tax portion
Dividends paid per share
Statement of Cash Flows [Abstract]
Cash Flows from Operating Activities:
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Bad debt expense
Depreciation
ESOP compensation expense
Loss on disposal of assets
Deferred income tax (benefit) expense
Changes in assets and liabilities:
Decrease (increase) in trade receivables
Decrease in income tax receivable
Increase in inventories
Decrease in prepaid expenses and other current assets
Increase in accounts payable
Increase (decrease) in accrued salaries and wages
(Decrease) increase in vacation accrual
Increase in other accrued expenses
Increase in payroll and other taxes withheld
Increase (decrease) in contract liabilities
Increase in income taxes payable
Net cash provided by (used in) operating activities
Cash Flows from Investing Activities:
Additions to property, plant and equipment
Purchase of investment securities
Proceeds from sale/maturity of investment securities
Net cash provided by investing activities
Cash Flows from Financing Activities:
Dividends paid on common stock
Purchase of treasury stock
Proceeds from exercise of stock options
Net cash used in financing activities
Increase (decrease) in cash and cash equivalents
Cash and cash equivalents, beginning of the year
Cash and cash equivalents, end of the year
Supplemental Schedule of Cash Flow Information:
Income taxes paid
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations
Accounting Policies [Abstract]
Summary of Significant Accounting Policies
Revenue from Contract with Customer [Abstract]
Revenue
Investments, Debt and Equity Securities [Abstract]
Investment Securities
Contractors [Abstract]
Contracts in Process
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment
Retirement Benefits [Abstract]
Pension Expense
Income Tax Disclosure [Abstract]
Provision for Income Taxes
Significant Customers [Abstract]
Significant Customers
Stock Rights Plan [Abstract]
Stock Rights Plan
Employee Stock Ownership Plan [Abstract]
Employee Stock Ownership Plan
Share-based Payment Arrangement [Abstract]
Stock-based Compensation
Risks and Uncertainties [Abstract]
Concentration of Credit Risk
Related Party Transactions [Abstract]
Related Parties
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies
Equity [Abstract]
Stockholders' Equity
Debt Disclosure [Abstract]
Line of Credit
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information (Unaudited)
Revenue
Inventory
Contract Liabilities
Depreciation
Income Taxes
Cash and Cash Equivalents
Investment Securities
Fair Value of Financial Instruments
Accounts Receivable and Allowance for Doubtful Accounts
Per Share Amounts
Comprehensive Income
Use of Estimates
Reclassifications
Recently Issued Accounting Standards
Recent Accounting Pronouncements Not Yet Adopted
Impairment of Long-Lived Assets
Concentrations of Risk
Schedule of Estimated useful lives of depreciable assets
Schedule of cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale securities
Schedule of contractual maturities of available-for-sale securities
Schedule of contracts in process
Summary of the original cost of property, plant and equipment
Schedule of components of the provision for income taxes
Schedule of effective income tax rates
Schedule of deferred tax assets and liabilities
Schedule of ESOP shares
Schedule of weighted average assumptions for option awards
Schedule of stock option activity
Schedule of changes in non-vested stock options
Schedule of reserved common shares for future issuance
Schedule of reconciliation of the numerators and denominators of basic and diluted per share computations
Schedule of quarterly financial information
Long-Lived Tangible Asset [Axis]
Statistical Measurement [Axis]
Prospective Adoption of New Accounting Pronouncements [Axis]
Estimated useful lives of depreciated assets
Change in current assets
Change in noncurrent liabilities
Change in noncurrent assets
Prospective Adoption of New Accounting Pronouncements [Table]
Item Effected [Line Items]
Accounting Standards Update [Axis]
Contract liabilities
Revenue
Intangible assets
Percentage of estimated shipments
Backlog amount to be recognized, 2021
Backlog amount to be recognized, 2022
Backlog amount to be recognized, 2023
Backlog amount to be recognized, thereafter
Amortized Cost
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value
Years to maturity of Available-for-sale securities:
Less than One Year
One to Five Years
Total
Costs relating to contracts that may not be completed within the next year
Increase in direct costs, material, and labor
Unrecognized gross contract value
Amount of machinery and equipment not placed in service
Property, plant and equipment, gross
Accumulated depreciation
Property, plant and equipment, net
Defined benefit contributions and expenses
Increase in contribution, hourly rate
Employer matching contibutions of 401(k) plan (percentage)
Employer matching contributions to 401(k) plan
Corporate income tax rate
Combined U.S. federal and state effective income tax rates
Deferred tax expense
Components of the provision for income taxes
Current tax expense - federal
Current tax (benefit) expense - state
Deferred tax (benefit) expense
Provision for income taxes
Income tax rate reconciliation
U.S. federal statutory income tax rate
Increase (reduction) in rate resulting from:
State franchise tax, net of federal income tax benefit
ESOP cost versus Fair Market Value
Dividend on allocated ESOP shares
Qualified production activities
Stock-based compensation
Foreign Derived Intangible Income Deduction
Other
Effective tax rate
Tax effects of temporary differences
Deferred tax assets:
Accrued expenses
ESOP
Stock-based compensation
Inventory - effect of uniform capitalization
Other
Total deferred tax assets
Deferred tax liability:
Property, plant and equipment - principally due to differences in depreciation methods
Prepaid expenses
Total deferred tax liability
Net deferred tax liability
Concentration Risk percentage
Number of customers
Sales
Number of hours worked per year to quality for the plan
Shares repurchased
Value of shares repurchased
Shares distributed
ESOP share allocation
Allocated shares
Unreleased shares
Total shares held by the ESOP
Fair value of unreleased shares
Stock based compensation expense
Deferred tax benefit related to stock based compensation
Unrecognized compensation costs
Period in which compensation cost will be recognized
Deferred tax benefit related to unrecognized compensation costs
Percentage of total number of shares subject to options or awards, single fiscal year
Number of shares subject to option or award, single fiscal year
Vesting period
Expiration period
Number of shares authorized
Granted
Outstanding
Vested and exercisable
Aggregate intrinsic value of options exercised
Weighted average assumptions to calculation option fair value
Dividend yield
Expected stock price volatility
Risk-free interest rate
Expected option life (in years)
Weighted average fair value per share of options granted during the period
Number of Shares Subject to Option
Balance, beginning
Granted
Exercised
Forfeited or expired
Outstanding, ending
Vested or expected to vest, end of period
Exercisable, end of period
Weighted Average Exercise Price
Balance, beginning
Granted
Exercised
Forfeited or expired
Outstanding, ending
Vested or expected to vest, end of period
Exercisable, end of period
Weighted Average Remaining Contractual Term
Outstanding
Granted
Vested or expected to vest, end of period
Exercisable, end of period
Aggregate Intrinsic Value
Outstanding end of period
Vested or expected to vest, end of period
Exercisable, end of period
Number of Shares Subject to Option
Non-vested, beginning balance
Vested
Forfeited or expired
Non-vested, ending balance
Weighted Average Grant Date Fair Value (per Option)
Balance, beginning
Granted
Vested
Forfeited or expired
Outstanding, ending
Contingent liability on outstanding letters of credit
Dividends Payable [Table]
Dividends Payable [Line Items]
Cash dividends on common stock (in dollars per share)
Anti-dilutive options excluded from calculation of EPS
Dividend payable, amount per share
Dividend payable, date to be paid
Dividend payable, date of record
Shares reserved for future issuance
Stock options outstanding
Stock options available for issuance
Number of common shares reserved
Calculation of EPS
Numerator:
Net Income
Denominator:
Basic EPS:
Unearned ESOP shares
Weighted average common shares issued during the period
Weighted average common shares purchased during the period
Weighted average ESOP shares earned during the period
Denominator for basic earnings per common shares - Weighted average common shares
Diluted EPS:
Weighted average dilutive effect of stock options
Denominator for diluted earnings per common shares - Weighted average common shares
Maximum amount of Line of Credit
Spread on variable interest rate
Gross profit
Net income (loss)
Net income (loss) per share -
ASC 606 [Member]
Represents the amount of increase (decrease) in additional paid in capital (APIC) resulting from a tax effect of dividends on unallocated ESOP shares.
Amount of machinery and equipment not placed in service.
The percentage of backlog that will be recognized within four years of the operating cycle.
The percentage of backlog that will be recognized within one year of the operating cycle.
The percentage of backlog that will be recognized within three years of the operating cycle.
The percentage of backlog that will be recognized within two years of the operating cycle.
Combined U.S. federal and state effective income tax rates.
The number of customers specifically identified in disclosure of concentration risk.
Disclosure of accounting policy for contract liabilities.
Corporate income tax rate.
Net deferred tax asset (liability).
Amount of deferred tax benefit attributable to unrecognized share-based compensation.
Amount of contributions which the employer contributes in a matching contribution to a defined contribution plan.
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate attributable to differences in ESOP fair value.
Minimum number of hours worked per year for nonunion employees to participate in ESOP.
Information by name of employee stock ownership plan.
The entire disclosure for employee stock ownership plan.
The closing price per share of security quoted in same currency as Trading currency.
Units Delivered [Member]
Reflects the percentage that a specified dollar value on the balance sheet or income statement in the period from one or more specified geographic areas is to a corresponding consolidated, segment, or product line amount. Risk is the materially adverse effects of economic decline or antagonistic political actions resulting in loss of assets, sales volume, labor supply, or source of materials and supplies in a US state or a specified country, continent, or region such as EMEA (Europe, Middle East, Africa).
Tax Act [Member]
Incentive Stock Options [Member]
Increase (decrease) in direct costs, material, and labor for contracts in process.
The hourly increase in pension contributions, per year, based upon the negotiated union contract.
Individual Employee [Member]
Units Delivered [Member]
Non-qualified stock options [Member]
Costs related to contracts that may not be completed within the next year or operating cycle.
The number of shares subject to option or award in a single fiscal year as outlined in the plan contract.
Percentage of estimated shipments.
The percentage of the total number of shares subject to options or awards granted in a single fiscal year; this will take effect only if the percentage is less than a specified amount in the plan contract.
Remeasurement [Member]
Schedule of contracts in process.
Tabular disclosure of estimated useful lives of depreciable assets.
The schedule of common shares reserved for future issuance as stock option awards.
The contractual life of stock options under the Company's plans.
The disclosure for revenues in the period from one or more significant customers.
Special Dividend [Member]
The entire disclosure for stock right plans.
Total of all stockholders' equity (deficit) items, before ESOP and Treasury stock.
Name of the equity-based compensation arrangement plan.
Name of the equity-based compensation arrangement plan.
2017 Plan [Member]
Information pertaining to unearned employee stock ownership plan shares.
Cost of unearned shares that qualify as permanent equity that are held by an employee stock ownership plan (ESOP).
Units Delivered [Member]
Unrecognized gross contract value.
Disclosure of accounting policy pertaining to new accounting standards that may impact the entity's financial reporting.
Inventory, Net
Assets, Current
Assets
Liabilities, Current
Liabilities, Noncurrent
TotalStockholdersEquityBeforyEsopAndTreasuryStock
Weighted Average Number of Shares Subject to Option
Treasury Stock, Value
Stockholders' Equity Attributable to Parent
Liabilities and Equity
Operating Income (Loss)
Other Nonoperating Income
Nonoperating Income (Expense)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest
Dividends, Common Stock, Cash
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property
Increase (Decrease) in Accounts Receivable
Increase (Decrease) in Income Taxes Receivable
Increase (Decrease) in Inventories
Increase (Decrease) in Prepaid Expense and Other Assets
Net Cash Provided by (Used in) Operating Activities
Payments to Acquire Property, Plant, and Equipment
Payments to Acquire Available-for-sale Securities
Net Cash Provided by (Used in) Investing Activities
Payments of Ordinary Dividends, Common Stock
Payments for Repurchase of Common Stock
Net Cash Provided by (Used in) Financing Activities
Cash and Cash Equivalents, Period Increase (Decrease)
Revenue [Policy Text Block]
Depreciation, Depletion, and Amortization [Policy Text Block]
Investment, Policy [Policy Text Block]
Contract with Customer, Liability
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment
Effective Income Tax Rate Reconciliation, Deduction, Employee Stock Ownership Plan Dividend, Percent
Effective Income Tax Rate Reconciliation, Deduction, Qualified Production Activity, Percent
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Payment Arrangement, Percent
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent
Effective Income Tax Rate Reconciliation, Percent
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost
Deferred Tax Assets, Other
Deferred Tax Assets, Gross
Deferred Tax Liabilities, Gross
Denominator: [Default Label]
Employee Stock Ownership Plan (ESOP), Shares in ESOP
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodContractualTerm
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value
Weighted Average Number of Shares Subject to Option [Default Label]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Number of Shares
Share-based Compensation Arrangement by Share-based Payment Award, Option, Nonvested, Weighted Average Exercise Price
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Weighted Average Grant Date Fair Value
Common Stock, Capital Shares Reserved for Future Issuance
Weighted Average Number of Shares, Employee Stock Ownership Plan Shares Not Committed to be Released
Weighted Average Number of Shares, Common Stock Subject to Repurchase or Cancellation