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QUARTERLY FINANCIAL DATA (UNAUDITED) | 12 Months Ended
--- | ---
Jun. 30, 2011
QUARTERLY FINANCIAL DATA (UNAUDITED) |
QUARTERLY FINANCIAL DATA (UNAUDITED) |
17. QUARTERLY FINANCIAL DATA (UNAUDITED) Summarized quarterly data for fiscal years 2011 and 2010 follows:
|  | Quarter Ended |  |  |
--- | --- | --- | --- | --- | ---
|  | September 30 |  | December 31 |  | March 31 |  | June 30 |  | Year Ended |
|  | (Dollars in thousands, except per share amounts) |
2011 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 578,245 |  | $ | 574,372 |  | $ | 581,267 |  | $ | 591,985 |  | $ | 2,325,869 |
Gross margin, excluding depreciation |  |  | 257,558 |  |  | 251,132 |  |  | 253,017 |  |  | 261,614 |  |  | 1,023,321 |
Operating income (loss)(a)(b) |  |  | 33,434 |  |  | 22,864 |  |  | (59,504 | ) |  | 7,154 |  |  | 3,948 |
Income (loss) from continuing operations(a)(b)(e) |  |  | 18,320 |  |  | 14,505 |  |  | (25,335 | ) |  | (16,395 | ) |  | (8,905 | )
Net income (loss)(a)(b)(e) |  |  | 18,320 |  |  | 14,505 |  |  | (25,335 | ) |  | (16,395 | ) |  | (8,905 | )
Income (loss) from continuing operations per share, basic |  |  | 0.32 |  |  | 0.26 |  |  | (0.45 | ) |  | (0.29 | ) |  | (0.16 | )
Net income (loss) per basic share(f) |  |  | 0.32 |  |  | 0.26 |  |  | (0.45 | ) |  | (0.29 | ) |  | (0.16 | )
Income (loss) from continuing operations per share, diluted |  |  | 0.30 |  |  | 0.24 |  |  | (0.45 | ) |  | (0.29 | ) |  | (0.16 | )
Net income (loss) per diluted share(f) |  |  | 0.30 |  |  | 0.24 |  |  | (0.45 | ) |  | (0.29 | ) |  | (0.16 | )
Dividends declared per share |  |  | 0.04 |  |  | 0.04 |  |  | 0.06 |  |  | 0.06 |  |  | 0.20 |
Refer to Management's Discussion and Analysis of Financial Condition and Results of Operations in Part II, Item 6 in this Form 10-K for explanations of items which impacted fiscal year 2011 revenues, operating and net income.
|  | Quarter Ended |  |  |
--- | --- | --- | --- | --- | ---
|  | September 30 |  | December 31 |  | March 31 |  | June 30 |  | Year Ended |
|  | (Dollars in thousands, except per share amounts) |
2010 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues(c) |  | $ | 605,550 |  | $ | 575,365 |  | $ | 587,571 |  | $ | 589,948 |  | $ | 2,358,434 |
Gross margin, excluding depreciation(c) |  |  | 259,967 |  |  | 254,564 |  |  | 260,199 |  |  | 264,397 |  |  | 1,039,127 |
Operating income (loss)(b)(c) |  |  | 28,257 |  |  | 32,063 |  |  | 1,184 |  |  | 35,714 |  |  | 97,218 |
Income (loss) from continuing operations(b) |  |  | 4,611 |  |  | 18,154 |  |  | (1,525 | ) |  | 18,339 |  |  | 39,579 |
Income from discontinued operations(d) |  |  | 3,161 |  |  | — |  |  | — |  |  | — |  |  | 3,161 |
Net income (loss)(b)(d) |  |  | 7,772 |  |  | 18,154 |  |  | (1,525 | ) |  | 18,339 |  |  | 42,740 |
Income (loss) from continuing operations per share, basic |  |  | 0.09 |  |  | 0.32 |  |  | (0.03 | ) |  | 0.32 |  |  | 0.71 |
Income (loss) from discontinued operations per share, basic(d) |  |  | 0.06 |  |  | — |  |  | — |  |  | — |  |  | 0.06 |
Net income (loss) per basic share(f) |  |  | 0.14 |  |  | 0.32 |  |  | (0.03 | ) |  | 0.32 |  |  | 0.77 |
Income (loss) from continuing operations per share, diluted |  |  | 0.09 |  |  | 0.30 |  |  | (0.03 | ) |  | 0.30 |  |  | 0.71 |
Income (loss) from discontinued operations per share, diluted(f) |  |  | 0.06 |  |  | — |  |  | — |  |  | — |  |  | 0.05 |
Net income (loss) per diluted share(f) |  |  | 0.14 |  |  | 0.30 |  |  | (0.03 | ) |  | 0.30 |  |  | 0.75 |
Dividends declared per share |  |  | 0.04 |  |  | 0.04 |  |  | 0.04 |  |  | 0.04 |  |  | 0.16 |
Refer to Management's Discussion and Analysis of Financial Condition and Results of Operations in Part II, Item 6 in this Form 10-K for explanations of items which impacted fiscal year 2010 revenues, operating and net income. (a) Operating income and net income decreased $31.2 million ($19.2 million net of tax) as a result of a valuation reserve on a note receivable with the purchase of Trade Secret that was recorded in the third quarter ($9.0 million) and fourth quarter ($22.2 million) of fiscal year 2011. (b) Expense of $74.1 million ($50.8 million net of tax) was recorded in the third quarter ended March 31, 2011 related to our Promenade salon concept goodwill impairment due to recent performance challenges in that concept. Expense of $35.3 million ($28.7 million net of tax) was recorded in the third quarter ended March 31, 2010 related to our Regis salon concept goodwill impairment due to recent performance challenges in that concept and current economic conditions. (c) The Company sold $20.0 million of product to the purchaser of Trade Secret at cost for the three months ended September 30, 2009. (d) During the second quarter ended December 31, 2008, the Company determined Trade Secret to be held for sale and accounted for it as a discontinued operation. An income tax benefit of $3.0 million was recorded in the first quarter ended September 30, 2009 to correct the prior year calculation of the income tax benefit related to the disposition of the Trade Secret concept. (e) Income (loss) from continuing operations and net income decreased as a result of $9.2 million that was recorded in the third quarter ($8.7 million) and in the fourth quarter ($0.5 million) as a result of an other than temporary impairment on an investment in preferred shares of Yamano and a premium paid at the time of an initial investment in MY Style. (f) Total is a recalculation; line items calculated individually may not sum to total.

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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 SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 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 AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 23, 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: 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 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 30 -Subparagraph a-j -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a Reference 7: 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=6952194&loc=d3e1280-108306 + Details
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