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v3.8.0.1

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended
--- | ---
Sep. 30, 2017 | Sep. 30, 2016
Net sales |  | $ 87,466 | $ 84,159
Cost of products and services sold |  | 63,763 | 62,821
Restructuring costs |  |  | 503
Gross profit |  | 23,703 | 20,835
Restructuring costs |  |  | 153
Impairment of goodwill |  | 28,000 |
Selling and administrative expenses |  | 20,517 | 19,616
Operating (loss) income |  | (24,814) | 1,066
Interest (income) |  | (8) | (27)
Interest expense |  | 411 | 13
(Loss) Income before income taxes |  | (25,217) | 1,080
Income tax (benefit) expense |  | (9,588) | 251
Net (loss) Income |  | $ (15,629) | $ 829
(Loss) Earnings per common share (see Note 4) |  |  |
Basic (in dollars per share) |  | $ (0.61) | $ 0.03
Diluted (in dollars per share) |  | $ (0.61) | $ 0.03
Weighted average common shares outstanding |  |  |
Basic (in shares) |  | 25,791 | 25,275
Diluted (in shares) | [1] | 25,791 | 25,912
[1] | Options to purchase 3,671,340 common shares and 1,654,450 common shares at September 30, 2017 and 2016, respectively, were not included in the computation of the three month period for diluted earnings per share, respectively, because the exercise price was greater than the average fair market value of the common shares. For the three months ended September 30, 2017, the effect of dilutive securities was not included in the calculation of diluted earnings per share because there was a net operating loss for the period.

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