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Supplementary Quarterly Data (Unaudited)
 12 Months Ended
Jun. 28, 2012
Supplementary Quarterly Data [Abstract]  
SUPPLEMENTARY QUARTERLY DATA NOTE 17 — SUPPLEMENTARY QUARTERLY DATA

NOTE 17 — SUPPLEMENTARY QUARTERLY DATA (Unaudited)

The following unaudited quarterly consolidated financial data are presented for fiscal 2012 and fiscal 2011. Quarterly financial results necessarily rely on estimates and caution is required in drawing specific conclusions from quarterly consolidated results.

 

                                 
    First
Quarter		     Second
Quarter		     Third
Quarter		     Fourth
Quarter (1)		  

Year Ended June 28, 2012:

                                

Net sales

   $ 156,800     $ 223,309     $ 153,760     $ 166,706  

Gross profit

     21,766       35,441       22,094       27,753  

Income from operations

     5,491       15,782       4,033       7,667  

Net income

     2,442       9,354       1,440       3,886  

Basic earnings per common share

   $ 0.23     $ 0.87     $ 0.13     $ 0.36  

Diluted earnings per common share

   $ 0.23     $ 0.87     $ 0.13     $ 0.36  
         
    First
Quarter		     Second
Quarter (2)		     Third
Quarter (3)		     Fourth
Quarter (4)		  

Year Ended June 30, 2011:

                                

Net sales

   $ 146,788     $ 223,600     $ 137,442     $ 166,382  

Gross profit

     20,541       27,236       9,986       26,428  

Income (loss) from operations

     3,484       9,889       (7,601 )      4,484  

Net income (loss)

     1,079       5,172       (5,625 )      2,209  

Basic earnings (loss) per common share

   $ 0.10     $ 0.48     $ (0.53 )    $ 0.21  

Diluted earnings (loss) per common share

   $ 0.10     $ 0.48     $ (0.53 )    $ 0.21  

 

(1) The fourth quarter of fiscal 2012 contained a $900 increase in cost of sales due to a change in the estimate of on-hand quantities of bulk-stored inshell pecan and walnut inventories.
(2) The second quarter of fiscal 2011 contained a $1,100 reduction in administrative expenses related to a recall settlement benefit, offset by an $800 increase in the anticipated liability for additional consideration to be paid as part of the OVH acquisition and a $900 increase in the estimated liability for a lawsuit settlement.
(3) The third quarter of fiscal 2011 contained a $1,500 increase in the estimated liability for a lawsuit settlement.
(4) The fourth quarter of fiscal 2011 contained a $5,700 goodwill impairment for the entire goodwill amount related to the OVH acquisition, partially offset by a $700 decrease in the estimated liability for a lawsuit settlement.