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Quarterly Results (Unaudited)
 12 Months Ended
Jul. 02, 2023
Quarterly Financial Data [Abstract]  
Quarterly Results (Unaudited)

25. Quarterly Results (Unaudited)

Quarterly financial data and selected highlights are as follows:

 

 

For the Fiscal Quarter Ended

 

 

 

October 2, 2022

 

 

January 1, 2023

 

 

April 2, 2023

 

 

July 2, 2023

 

Net sales (1)

 

$

179,519

 

 

$

136,212

 

 

$

156,738

 

 

$

151,058

 

Gross profit (loss) (2)

 

 

6,563

 

 

 

(8,000

)

 

 

9,653

 

 

 

6,025

 

Net (loss) income (3)

 

 

(7,834

)

 

 

(18,037

)

 

 

(5,184

)

 

 

(15,289

)

Net (loss) income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic (4)

 

$

(0.44

)

 

$

(1.00

)

 

$

(0.29

)

 

$

(0.85

)

Diluted (4)

 

$

(0.44

)

 

$

(1.00

)

 

$

(0.29

)

 

$

(0.85

)

 

 

 

For the Fiscal Quarter Ended

 

 

 

September 26, 2021

 

 

December 26, 2021

 

 

March 27, 2022

 

 

July 3, 2022

 

Net sales (5)

 

$

195,992

 

 

$

201,410

 

 

$

200,780

 

 

$

217,576

 

Gross profit (6)

 

 

26,097

 

 

 

16,890

 

 

 

19,144

 

 

 

18,354

 

Net income (7)

 

 

8,680

 

 

 

929

 

 

 

2,066

 

 

 

3,496

 

Net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic (4)

 

$

0.47

 

 

$

0.05

 

 

$

0.11

 

 

$

0.19

 

Diluted (4)

 

$

0.46

 

 

$

0.05

 

 

$

0.11

 

 

$

0.19

 

 

(1)
Net sales for all fiscal quarters of fiscal 2023 includes adverse demand pressures in the Americas and Asia Segments.

 

(2)
Gross profit for our domestic operations for all fiscal quarters of fiscal 2023 was impacted by lower production volumes driving weaker fixed cost absorption in connection with lower sales volumes.

 

(3)
Net loss for our domestic operations for all fiscal quarters of fiscal 2023 includes the adverse pressures on gross profit. Net loss for the fourth quarter of fiscal 2023 includes an impairment further described in Note 9, "Property, Plant and Equipment, Net."

 

(4)
Income per share is computed independently for each of the periods presented. The sum of the income per share amounts for the fiscal quarters may not equal the total for the fiscal year.

 

(5)
The fiscal quarter ending July 3, 2022 included an additional week of sales of approximately $8,700.

 

(6)
Gross profit for our domestic operations for all fiscal quarters of fiscal 2022 includes adverse pressures from (i) higher raw material costs, (ii) rising input costs, and (iii) the weakening of labor productivity.

 

(7)
Net income for our domestic operations for all fiscal quarters of fiscal 2022 includes the adverse pressures on gross profit.