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Discontinued Operations (Tables) | 12 Months Ended
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Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations | The following table presents the financial results of the RF Business as loss from discontinued operations, net of income taxes in the Company's consolidated statements of operations:
|  | Fiscal Year Ended
(in millions of U.S. Dollars) |  |  | June 30, 2024 |  | June 25, 2023 |  | June 26, 2022
Revenue, net |  |  | $59.6 |  |  | $163.4 |  |  | $174.1 |
Cost of revenue, net |  |  | 68.7 |  |  | 126.8 |  |  | 132.9 |
Gross (loss) profit |  |  | (9.1) |  |  | 36.6 |  |  | 41.2 |
Operating expenses: |  |  |  |  |  |  |
Research and development |  |  | 30.5 |  |  | 59.7 |  |  | 53.8 |
Sales, general and administrative |  |  | 13.9 |  |  | 21.0 |  |  | 20.5 |
Amortization of intangibles |  |  | 1.5 |  |  | 9.2 |  |  | 11.4 |
Loss on disposal of assets |  |  | 0.3 |  |  | — |  |  | — |
Other operating expense |  |  | 24.3 |  |  | 15.5 |  |  | 0.2 |
Operating loss |  |  | (79.6) |  |  | (68.8) |  |  | (44.7) |
Non-operating expense |  |  | — |  |  | (0.1) |  |  | (0.5) |
Loss before income taxes and loss on sale |  |  | (79.6) |  |  | (68.7) |  |  | (44.2) |
Loss on sale |  |  | 204.0 |  |  | — |  |  | — |
Loss before income taxes |  |  | (283.6) |  |  | (68.7) |  |  | (44.2) |
Income tax expense |  |  | 7.0 |  |  | 0.7 |  |  | 0.8 |
Net loss |  |  | ($290.6) |  |  | ($69.4) |  |  | ($45.0) |
The following table presents the assets and liabilities of the RF Business classified as discontinued operations as of June 25, 2023:
(in millions of U.S. Dollars) |  |  | June 25, 2023
Assets (current and long-term) |  |  |
Inventories |  |  | $42.6 |
Other current assets |  |  | 0.2 |
Property and equipment, net |  |  | 25.9 |
Intangible assets, net |  |  | 92.0 |
Other assets |  |  | 6.6 |
Assets held for sale from discontinued operations |  |  | 167.3 |
Liabilities (current and long-term) |  |  |
Accounts payable and accrued expenses |  |  | 2.4 |
Contract liabilities and distributor-related reserves |  |  | 4.0 |
Other current liabilities |  |  | 2.2 |
Other long-term liabilities |  |  | 5.3 |
Liabilities held for sale of discontinued operations |  |  | $13.9 |

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