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Revenue Recognition (Tables) | 9 Months Ended
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Mar. 29, 2019
Revenue from Contract with Customer [Abstract] |
Contract with Customer, Asset and Liability | The following table provides information about receivables and liabilities from contracts with customers (in thousands):
| March 29, 2019 |  | At Adoption on June 30, 2018
Contract Assets |  |  |
Accounts receivable, net | $ | 45,622 |  |  | $ | 45,571 |
Unbilled receivables | $ | 28,474 |  |  | $ | 22,794 |
Capitalized commissions | $ | 589 |  |  | $ | 656 |
Contract Liabilities |  |  |
Advance payments and unearned revenue | $ | 18,507 |  |  | $ | 12,700 |
Unearned revenue, long-term | $ | 8,071 |  |  | $ | 7,295 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles |
| Balances as of June 29, 2018 |  | Adjustments due to ASC 606 |  | As Adjusted Balances as of June 30, 2018
Balance Sheet |  |  |  |  |
Assets |  |  |  |  |
Accounts receivable, net | $ | 43,068 |  |  | $ | 2,503 |  |  | $ | 45,571 |
Unbilled receivables | $ | 14,167 |  |  | $ | 8,627 |  |  | $ | 22,794 |
Inventories | $ | 21,290 |  |  | $ | (11,516 | ) |  | $ | 9,774 |
Other current assets | $ | 6,006 |  |  | $ | 476 |  |  | $ | 6,482 |
Deferred income taxes | $ | 5,600 |  |  | $ | (545 | ) |  | $ | 5,055 |
Other assets | $ | 9,816 |  |  | $ | 180 |  |  | $ | 9,996 |
Liabilities |  |  |  |  |
Advance payments and unearned revenue | $ | 19,300 |  |  | $ | (6,600 | ) |  | $ | 12,700 |
Unearned revenue - long term | $ | 6,593 |  |  | $ | 702 |  |  | $ | 7,295 |
Equity |  |  |  |  |
Accumulated deficit | $ | (746,359 | ) |  | $ | 5,623 |  |  | $ | (740,736 | )
The effects of the adoption of the new revenue recognition guidance on our March 29, 2019 unaudited Condensed Consolidated Balance Sheet were as follows:
| As of March 29, 2019
| As Reported |  | Adjustments due to ASC 606 |  | Balances without adoption of ASC 606
Balance Sheet |  |  |  |  |
Assets |  |  |  |  |
Accounts receivable, net | $ | 45,622 |  |  | $ | (7,473 | ) |  | $ | 38,149 |
Unbilled receivables | $ | 28,474 |  |  | $ | (15,943 | ) |  | $ | 12,531 |
Inventories | $ | 10,309 |  |  | $ | 18,530 |  |  | $ | 28,839 |
Other current assets | $ | 4,664 |  |  | $ | (340 | ) |  | $ | 4,324 |
Deferred income taxes | $ | 12,185 |  |  | $ | 545 |  |  | $ | 12,730 |
Other assets | $ | 12,098 |  |  | $ | (299 | ) |  | $ | 11,799 |
Liabilities |  |  |  |  |
Accrued expenses | $ | 22,234 |  |  | $ | (369 | ) |  | $ | 21,865 |
Advance payments and unearned revenue | $ | 18,507 |  |  | $ | 7,023 |  |  | $ | 25,530 |
Unearned revenue - long term | $ | 8,071 |  |  | $ | (1,021 | ) |  | $ | 7,050 |
Reserve for uncertain tax positions | $ | 3,654 |  |  | $ | (37 | ) |  | $ | 3,617 |
Equity |  |  |  |  |
Accumulated deficit | $ | (734,837 | ) |  | $ | (10,576 | ) |  | $ | (745,413 | )
The following tables summarize the impacts of adopting ASC 606 on the unaudited Condensed Consolidated Statements of Operations for the three and nine months ended March 29, 2019 and our Consolidated Balance Sheet as of June 29, 2018 (in thousands):
| Three Months Ended March 29, 2019
| As Reported |  | Adjustments |  | Balances without Adoption of ASC 606
Income Statement |  |  |  |  |
Revenues: |  |  |  |  |
Revenue from product sales | $ | 34,615 |  |  | $ | 304 |  |  | $ | 34,919 |
Revenue from services | 19,422 |  |  | (227 | ) |  | 19,195 |
Total revenues | $ | 54,037 |  |  | $ | 77 |  |  | $ | 54,114 |
Cost of revenues: |  |  |  |  |
Cost of product sales | $ | 23,712 |  |  | $ | 334 |  |  | $ | 24,046 |
Cost of services | 14,070 |  |  | (354 | ) |  | 13,716 |
Total cost of revenues | $ | 37,782 |  |  | $ | (20 | ) |  | $ | 37,762 |
Selling and administrative expenses | $ | 13,408 |  |  | $ | (39 | ) |  | $ | 13,369 |
Net income | $ | 4,339 |  |  | $ | 366 |  |  | $ | 4,705 |
| Nine Months Ended March 29, 2019
| As Reported |  | Adjustments |  | Balances without Adoption of ASC 606
Income Statement |  |  |  |  |
Revenues: |  |  |  |  |
Revenue from product sales | $ | 115,696 |  |  | $ | (10,215 | ) |  | $ | 105,481 |
Revenue from services | 63,933 |  |  | (2,370 | ) |  | 61,563 |
Total revenues | $ | 179,629 |  |  | $ | (12,585 | ) |  | $ | 167,044 |
Cost of revenues: |  |  |  |  |
Cost of product sales | $ | 76,670 |  |  | $ | (5,394 | ) |  | $ | 71,276 |
Cost of services | 46,289 |  |  | (1,884 | ) |  | 44,405 |
Total cost of revenues | $ | 122,959 |  |  | $ | (7,278 | ) |  | $ | 115,681 |
Selling and administrative expenses | $ | 41,405 |  |  | $ | (74 | ) |  | $ | 41,331 |
Net income | $ | 5,899 |  |  | $ | (4,954 | ) |  | $ | 945 |

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