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Quarterly Financial Data (Unaudited) | 12 Months Ended
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Jun. 30, 2019
Quarterly Financial Data [Abstract] |
Quarterly Financial Data (Unaudited) | SUPPLEMENTARY DATA Quarterly Financial Data (Unaudited) Quarterly sales and earnings results are normally influenced by seasonal factors. Historically, the first two fiscal quarters (three months ending September 30 and December 31) are typically the lowest principally because of annual plant vacation and maintenance shutdowns by the Company and by many of its customers. However, the timing of major changes in the general economy or the markets for certain products can alter this pattern.
($ in millions) |  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
Results of Operations |  |  |  |  |  |  |  |  |  |  |  |
Fiscal Year 2019 |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 572.4 |  |  | $ | 556.5 |  |  | $ | 609.9 |  |  | $ | 641.4 |
Gross profit |  | $ | 91.7 |  |  | $ | 107.0 |  |  | $ | 123.2 |  |  | $ | 122.9 |
Operating income |  | $ | 45.0 |  |  | $ | 55.4 |  |  | $ | 73.2 |  |  | $ | 67.9 |
Net income |  | $ | 31.5 |  |  | $ | 35.5 |  |  | $ | 51.1 |  |  | $ | 48.9 |
Fiscal Year 2018 |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 479.8 |  |  | $ | 487.8 |  |  | $ | 572.2 |  |  | $ | 618.0 |
Gross profit |  | $ | 85.6 |  |  | $ | 85.7 |  |  | $ | 96.1 |  |  | $ | 114.9 |
Operating income |  | $ | 42.2 |  |  | $ | 41.4 |  |  | $ | 45.7 |  |  | $ | 60.0 |
Net income |  | $ | 23.4 |  |  | $ | 92.1 |  |  | $ | 30.2 |  |  | $ | 42.8 |
During the quarter ended December 31, 2017, the Company recorded an income tax benefit. See Note 17, Income Taxes to Notes to Consolidated Financial Statements included in Item 8. “Financial Statements and Supplementary Data”.
(per share amount) |  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
Earnings per common share |  |  |  |  |  |  |  |
Fiscal Year 2019 |  |  |  |  |  |  |  |
Basic earnings |  | $ | 0.66 |  |  | $ | 0.73 |  |  | $ | 1.06 |  |  | $ | 1.01 |
Diluted earnings |  | $ | 0.65 |  |  | $ | 0.73 |  |  | $ | 1.05 |  |  | $ | 1.00 |
Fiscal Year 2018 |  |  |  |  |  |  |  |
Basic earnings |  | $ | 0.49 |  |  | $ | 1.93 |  |  | $ | 0.63 |  |  | $ | 0.90 |
Diluted earnings |  | $ | 0.49 |  |  | $ | 1.92 |  |  | $ | 0.63 |  |  | $ | 0.88 |
(shares in millions) |  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
Weighted average common shares outstanding |  |  |  |  |  |  |  |
Fiscal Year 2019 |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | 47.6 |  |  | 47.7 |  |  | 47.7 |  |  | 47.7 |
Diluted |  | 48.2 |  |  | 48.0 |  |  | 48.1 |  |  | 48.1 |
Fiscal Year 2018 |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | 47.1 |  |  | 47.2 |  |  | 47.2 |  |  | 47.4 |
Diluted |  | 47.3 |  |  | 47.6 |  |  | 47.7 |  |  | 48.0 |

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- References No definition available. + Details
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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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