XML 40 R23.htm IDEA: XBRL DOCUMENT
v3.19.2

QUARTERLY FINANCIAL DATA (UNAUDITED) | 12 Months Ended
--- | ---
Jun. 30, 2019
Quarterly Financial Information Disclosure [Abstract] |
QUARTERLY FINANCIAL DATA (UNAUDITED) | QUARTERLY FINANCIAL DATA (UNAUDITED) Refer to Management's Discussion and Analysis of Financial Condition and Results of Operations in Part II, Item 7 in this Form 10-K for explanations of items which impacted fiscal years 2019 and 2018 revenues, operating and net income (loss). Summarized quarterly data for fiscal years 2019 and 2018 follows:
|  | Quarter Ended |  |
|  | September 30 |  | December 31 |  | March 31 (a) |  | June 30 |  | Year Ended
|  | (Dollars in thousands, except per share amounts)
2019 |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 287,835 |  |  | $ | 274,671 |  |  | $ | 258,343 |  |  | $ | 248,190 |  |  | $ | 1,069,039 |
Cost of service and product revenues, excluding depreciation and amortization |  | 153,678 |  |  | 151,281 |  |  | 142,799 |  |  | 133,885 |  |  | 581,643 |
Operating income (loss) |  | 3,429 |  |  | (1,551 | ) |  | (22,162 | ) |  | (1,835 | ) |  | (22,119 | )
Income (loss) from continuing operations |  | (463 | ) |  | 417 |  |  | (14,811 | ) |  | (5,265 | ) |  | (20,122 | )
Income (loss) from discontinued operations |  | (264 | ) |  | 6,113 |  |  | 178 |  |  | (131 | ) |  | 5,896 |
Net income (loss) |  | (727 | ) |  | 6,530 |  |  | (14,633 | ) |  | (5,396 | ) |  | (14,226 | )
Income (loss) from continuing operations per share, basic (e) |  | (0.01 | ) |  | 0.01 |  |  | (0.37 | ) |  | (0.14 | ) |  | (0.48 | )
Income (loss) from discontinued operations per share, basic (e) |  | (0.01 | ) |  | 0.14 |  |  | — |  |  | — |  |  | 0.14 |
Net income (loss) per share, basic (e) |  | (0.02 | ) |  | 0.15 |  |  | (0.36 | ) |  | (0.14 | ) |  | (0.34 | )
Income (loss) from continuing operations per share, diluted (e) |  | (0.01 | ) |  | 0.01 |  |  | (0.37 | ) |  | (0.14 | ) |  | (0.48 | )
Income (loss) from discontinued operations per share, diluted (e) |  | (0.01 | ) |  | 0.14 |  |  | — |  |  | — |  |  | 0.14 |
Net income (loss) per share, diluted (e) |  | (0.02 | ) |  | 0.15 |  |  | (0.36 | ) |  | (0.14 | ) |  | (0.34 | )
|  | Quarter Ended |  |
|  | September 30 (b) |  | December 31 (c) |  | March 31 |  | June 30(d) |  | Year Ended
|  | (Dollars in thousands, except per share amounts)
2018 |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 315,464 |  |  | $ | 313,849 |  |  | $ | 305,783 |  |  | $ | 300,383 |  |  | $ | 1,235,479 |
Cost of service and product revenues, excluding depreciation and amortization |  | 169,998 |  |  | 174,714 |  |  | 169,220 |  |  | 157,273 |  |  | 671,205 |
Operating income (loss) |  | 15,600 |  |  | (38,479 | ) |  | 4,339 |  |  | 13,401 |  |  | (5,139 | )
Income from continuing operations |  | 8,445 |  |  | 42,092 |  |  | 3,585 |  |  | 5,499 |  |  | 59,621 |
Loss from discontinued operations(b) |  | (33,767 | ) |  | (6,601 | ) |  | (10,605 | ) |  | (2,212 | ) |  | (53,185 | )
Net income (loss) |  | (25,322 | ) |  | 35,491 |  |  | (7,020 | ) |  | 3,287 |  |  | 6,436 |
Income from continuing operations per share, basic |  | 0.18 |  |  | 0.90 |  |  | 0.08 |  |  | 0.12 |  |  | 1.28 |
Loss from discontinued operations per share, basic |  | (0.72 | ) |  | (0.14 | ) |  | (0.23 | ) |  | (0.05 | ) |  | (1.14 | )
Net income (loss) per share, basic (e) |  | (0.54 | ) |  | 0.76 |  |  | (0.15 | ) |  | 0.07 |  |  | 0.14 |
Income (loss) from continuing operations per share, diluted (e) |  | 0.18 |  |  | 0.89 |  |  | 0.08 |  |  | 0.12 |  |  | 1.27 |
Income (loss) from discontinued operations per share, diluted |  | (0.72 | ) |  | (0.14 | ) |  | (0.22 | ) |  | (0.05 | ) |  | (1.13 | )
Net income (loss) per share, diluted (e) |  | (0.54 | ) |  | 0.75 |  |  | (0.15 | ) |  | 0.07 |  |  | 0.14 |
_______________________________________________________________________________
(a) | During the third quarter of fiscal year 2019, the Company recorded a $20.7 million restructuring charge related to TBG mall locations. The reserve was a non-cash charge to reserve for notes and receivables due from TBG.
(b) | During the first quarter of fiscal year 2018, the Company recorded $33.8 million of one-time asset impairments and other non-recurring costs associated with the October 2017 sale of substantially all of its North American mall-based salons and its UK business. These impairments and costs and the result of operations for the salons sold, were classified in discontinued operations. Results of operations for the North American mall-based business and the UK have been classified as a discontinued operation for all periods presented.
(c) | During the second quarter of fiscal year 2018, the Company recorded $68.9 million of non-cash, one-time, tax benefits related to the enactment of the Tax Cuts and Jobs Act ("Tax Reform"), partially offset by $37.6 million of one-time lease termination and other non-recurring costs associated with the recently announced restructuring of the Company's SmartStyle salon portfolio, and $3.5 million of other one-time costs.
(d) | During the fourth quarter of fiscal year 2018, the Company identified and recorded $2.0 million in non-cash fixed asset impairment charges within discontinued operations. These fixed asset impairment charges should have been recorded in the first quarter of fiscal year 2018. Because this error was not material to the period in which it originated or the fourth quarter, the Company corrected it in the fourth quarter of fiscal year 2018.
(e) Total is an annual recalculation; line items calculated quarterly may not sum to total.

X
- References No definition available. + Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration