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SUPPLEMENTARY QUARTERLY DATA (Unaudited) | 12 Months Ended
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Jun. 26, 2014
Quarterly Financial Information Disclosure [Abstract] |
SUPPLEMENTARY QUARTERLY DATA (Unaudited) | NOTE 18 — SUPPLEMENTARY QUARTERLY DATA (Unaudited) The following unaudited quarterly consolidated financial data are presented for fiscal 2014 and fiscal 2013. 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 26, 2014: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 176,697 |  |  | $ | 225,114 |  |  | $ | 174,291 |  |  | $ | 202,520 |
Gross profit |  |  | 29,369 |  |  |  | 36,948 |  |  |  | 22,799 |  |  |  | 33,749 |
Income from operations |  |  | 12,328 |  |  |  | 16,394 |  |  |  | 6,138 |  |  |  | 12,136 |
Net income |  |  | 6,775 |  |  |  | 9,224 |  |  |  | 3,681 |  |  |  | 6,607 |
Basic earnings per common share |  | $ | 0.62 |  |  | $ | 0.84 |  |  | $ | 0.33 |  |  | $ | 0.60 |
Diluted earnings per common share |  | $ | 0.61 |  |  | $ | 0.83 |  |  | $ | 0.33 |  |  | $ | 0.59 |
Cash dividends declared per common share |  | $ | — |  |  | $ | 1.50 |  |  | $ | — |  |  | $ | — |
|  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter |
Year Ended June 27, 2013: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 177,507 |  |  | $ | 215,619 |  |  | $ | 163,815 |  |  | $ | 177,393 |
Gross profit |  |  | 30,573 |  |  |  | 36,676 |  |  |  | 22,879 |  |  |  | 29,834 |
Income from operations |  |  | 13,869 |  |  |  | 14,426 |  |  |  | 3,324 |  |  |  | 10,000 |
Net income |  |  | 7,534 |  |  |  | 8,301 |  |  |  | 342 |  |  |  | 5,583 |
Basic earnings per common share |  | $ | 0.70 |  |  | $ | 0.77 |  |  | $ | 0.03 |  |  | $ | 0.51 |
Diluted earnings per common share |  | $ | 0.69 |  |  | $ | 0.76 |  |  | $ | 0.03 |  |  | $ | 0.51 |
Cash dividends declared per common share |  | $ | — |  |  | $ | 1.00 |  |  | $ | — |  |  | $ | — |
(1) | The fourth quarter of fiscal 2014 contained a $0.4 increase in cost of sales due to a change in the estimate of on-hand quantities of bulk-stored inshell pecan and walnut inventories.

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=35737889&loc=d3e1280-108306 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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