XML 34 R18.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Note 12 - Quarterly Financial Data (Unaudited) | 12 Months Ended
--- | ---
Jun. 30, 2017
Notes to Financial Statements |
Quarterly Financial Information [Text Block] | Note 12. Quarterly Financial Data (unaudited)
(in thousands, except per share data) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2017 |  | Firs t Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |  |  | Year |
Net sales |  | $ | 130,581 |  |  | $ | 131,807 |  |  | $ | 144,037 |  |  | $ | 156,578 |  |  | $ | 563,003 |
Cost of sales (1) |  |  | 43,236 |  |  |  | 43,664 |  |  |  | 47,355 |  |  |  | 54,207 |  |  |  | 188,462 |
Net earnings (1) |  | $ | 18,843 |  |  | $ | 7,467 |  |  | $ | 22,167 |  |  | $ | 27,609 |  |  | $ | 76,086 |
Earnings per common share: (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.51 |  |  | $ | 0.20 |  |  | $ | 0.59 |  |  | $ | 0.74 |  |  | $ | 2.04 |
Diluted |  | $ | 0.50 |  |  | $ | 0.20 |  |  | $ | 0.59 |  |  | $ | 0.74 |  |  | $ | 2.03 |
Weighted average common shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 37,281 |  |  |  | 37,308 |  |  |  | 37,320 |  |  |  | 37,344 |  |  |  | 37,313 |
Diluted |  |  | 37,473 |  |  |  | 37,478 |  |  |  | 37,494 |  |  |  | 37,546 |  |  |  | 37,500 |
(in thousands, except per share data) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2016 |  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |  |  | Year |
Net sales |  | $ | 112,381 |  |  | $ | 120,907 |  |  | $ | 130,973 |  |  | $ | 134,762 |  |  | $ | 499,023 |
Cost of sales |  |  | 36,990 |  |  |  | 39,320 |  |  |  | 40,984 |  |  |  | 45,070 |  |  |  | 162,364 |
Net earnings |  | $ | 22,707 |  |  | $ | 25,851 |  |  | $ | 30,291 |  |  | $ | 25,626 |  |  | $ | 104,476 |
Earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.61 |  |  | $ | 0.70 |  |  | $ | 0.81 |  |  | $ | 0.69 |  |  | $ | 2.81 |
Diluted |  | $ | 0.61 |  |  | $ | 0.69 |  |  | $ | 0.81 |  |  | $ | 0.69 |  |  | $ | 2.80 |
Weighted average common shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 37,169 |  |  |  | 37,189 |  |  |  | 37,196 |  |  |  | 37,224 |  |  |  | 37,194 |
Diluted |  |  | 37,315 |  |  |  | 37,301 |  |  |  | 37,299 |  |  |  | 37,384 |  |  |  | 37,326 |
| ( 1 ) | During the fourth quarter, management identified certain errors related to purchase accounting items for the ACD acquisition recorded during the first quarter of fiscal year 2017. These errors were corrected by adjusting previously reported amounts in the first, second and third quarter of fiscal year 2017. These items impact the cost recognized upon the sale of acquired inventory, other acquisition related costs recorded within selling, general and administrative costs, interest expense, and income taxes and resulted in a favorable impact as compared to previously reported results and as outlined in the table below.
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |
2017 |  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |
Cost of sales |  | $ | (2,875 | ) |  | $ | (3,061 | ) |  | $ | (2,499 | )
Selling, general and administrative |  |  | (839 | ) |  |  | 1,326 |  |  |  | 1,302 |
Interest expense |  |  | 57 |  |  |  | 86 |  |  |  | 86 |
Income taxes |  |  | 1,097 |  |  |  | 495 |  |  |  | 333 |
Incremental net earnings |  |  | 2,560 |  |  |  | 1,154 |  |  |  | 778 |
We concluded that these errors were not material to each of the respective periods; however, we have elected to report the corrected amount for the fourth quarter. The amounts recorded in this table for the previously reported 2017 quarterly information have been revised for these updates. We will revise the fiscal year 2017 quarterly reported information in future filings to reflect the properly stated amounts. These identified items have no impact to year to date GAAP results.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration