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QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) | 12 Months Ended
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Jun. 26, 2019
Quarterly Financial Information Disclosure [Abstract] |
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) | The following tables summarize the unaudited consolidated quarterly results of operations for fiscal 2019 and fiscal 2018 (in millions, except per share amounts):
| Fiscal Year Ended June 26, 2019
| First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
Revenues | $ | 753.8 |  |  | $ | 790.7 |  |  | $ | 839.3 |  |  | $ | 834.1 |
Income before provision for income taxes | $ | 32.1 |  |  | $ | 35.0 |  |  | $ | 55.5 |  |  | $ | 49.2 |
Net income | $ | 26.4 |  |  | $ | 32.0 |  |  | $ | 49.8 |  |  | $ | 46.7 |
Basic net income per share | $ | 0.65 |  |  | $ | 0.84 |  |  | $ | 1.33 |  |  | $ | 1.25 |
Diluted net income per share | $ | 0.64 |  |  | $ | 0.83 |  |  | $ | 1.31 |  |  | $ | 1.22 |
Basic weighted average shares outstanding | 40.4 |  |  | 38.1 |  |  | 37.5 |  |  | 37.5 |
Diluted weighted average shares outstanding | 41.1 |  |  | 38.8 |  |  | 38.1 |  |  | 38.3 |
| Fiscal Year Ended June 27, 2018
| First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
Revenues | $ | 739.4 |  |  | $ | 766.4 |  |  | $ | 812.5 |  |  | $ | 817.1 |
Income before provision for income taxes | $ | 15.2 |  |  | $ | 41.1 |  |  | $ | 58.9 |  |  | $ | 55.0 |
Net income | $ | 9.9 |  |  | $ | 25.3 |  |  | $ | 46.9 |  |  | $ | 43.8 |
Basic net income per share | $ | 0.20 |  |  | $ | 0.55 |  |  | $ | 1.03 |  |  | $ | 1.03 |
Diluted net income per share | $ | 0.20 |  |  | $ | 0.54 |  |  | $ | 1.02 |  |  | $ | 1.01 |
Basic weighted average shares outstanding | 48.3 |  |  | 46.4 |  |  | 45.4 |  |  | 42.6 |
Diluted weighted average shares outstanding | 48.7 |  |  | 46.9 |  |  | 46.0 |  |  | 43.5 |
Fiscal 2019 Net income for fiscal 2019 included:
• | Sale leaseback transactions gains of $20.1 million, $4.6 million, $4.7 million, and $5.8 million were recognized in the first, second, third, and fourth quarters of fiscal 2019, respectively. The related sale leaseback transaction charges of $6.8 million, $0.2 million, $0.4 million, and $0.5 million were recorded in the first, second, third, and fourth quarters of fiscal 2019, respectively, related to legal, accounting, and other consulting fees.
• | Gains on the sale of property of $0.8 million, $6.0 million, and $0.1 million were recorded in the second, third, and fourth quarters of fiscal 2019, respectively.
• | Foreign currency transaction gains of $0.8 million, $0.5 million, and $0.2 million were recorded in the first, third, and fourth quarters of fiscal 2019, respectively, and foreign currency transaction losses of $0.7 million were recorded in the second quarter of fiscal 2019.
• | Insurance recoveries, net of property damages of $0.8 million and $0.2 million were recorded in the first and fourth quarters of fiscal 2019, respectively, and net property damages of $0.2 million and $0.1 million were recorded in the second and third quarters of fiscal 2019, respectively.
• | Lease guarantee credits of $0.4 million were recorded in the fourth quarter of fiscal 2019.
• | Restaurant impairment charges of $1.0 million, and $9.8 million were recorded in the second, and fourth quarters of fiscal 2019, respectively.
• | Remodel-related costs of $0.5 million, $2.6 million, $1.7 million, and $2.9 million were recorded in the first, second, third, and fourth quarters of fiscal 2019, respectively.
• | Corporate headquarter relocation charges of $5.2 million and $0.1 million were recorded in the third and fourth quarters of fiscal 2019.
• | Restaurant closure charges related to additional lease and other costs were recorded of $1.7 million, $2.1 million, $0.2 million, and $0.3 million in the first, second, third, and fourth quarters of fiscal 2019, respectively.
• | Accelerated depreciation related to long-lived assets to be disposed of $0.5 million was recorded in both the first and second quarters of fiscal 2019, respectively.
• | Severance charges of $0.1 million, $0.1 million and $0.7 million were recorded in the first, second and fourth quarter of fiscal 2019, respectively.
• | Cyber security incident charges of $0.4 million were recorded in the first quarter of fiscal 2019.
Fiscal 2018 Net income for fiscal 2018 included:
• | Restaurant impairment charges of $7.2 million, $2.0 million, and $1.8 million in the first, second, and fourth quarters of fiscal 2018, respectively.
• | Closed restaurant lease and other costs associated with closed restaurants of $0.2 million, $4.3 million, $2.8 million, and $0.2 million in the first, second, third, and fourth quarters of fiscal 2018, respectively.
• | Hurricane related costs, net of recoveries of $4.6 million, $0.6 million and $0.2 million, and net recoveries of $0.4 million were recorded in the first, second, third, and fourth quarters of fiscal 2018, respectively.
• | Cyber security incident charges related to professional services of $2.0 million were recorded in the fourth quarter of fiscal 2018.
• | Sale leaseback transaction charges of $2.0 million were recorded in the fourth quarter of fiscal 2018 related to legal, accounting, and other consulting fees.
• | Lease guarantee charges of $1.4 million and $0.5 million were recorded in the second and third quarters of fiscal 2018, respectively.
• | Accelerated depreciation related to long-lived assets to be disposed of $0.5 million was recorded in each quarter of fiscal 2018.
• | Remodel-related costs of $1.4 million were recorded in the fourth quarter of fiscal 2018.
• | Foreign currency transaction losses of $0.9 million and $1.2 million were recorded in the second and fourth quarters of fiscal 2018, respectively, and foreign currency transaction gains of $0.9 million were recorded in the third quarter of fiscal 2018.
• | Gains on the sale of property of $0.3 million were recorded in the second quarter of fiscal 2018.
• Severance charges of $0.3 million in the fourth quarter of fiscal 2018.

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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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