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Selected Quarterly Financial Data (Unaudited) | 12 Months Ended
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Jun. 30, 2016
Quarterly Financial Information Disclosure [Abstract] |
Selected Quarterly Financial Data (Unaudited) | Selected Quarterly Financial Data (Unaudited) The following tables set forth certain unaudited quarterly information for each of the eight fiscal quarters in the two year period ended June 30, 2016. This quarterly information has been prepared on a consistent basis with the audited consolidated financial statements and, in the opinion of management, includes all adjustments which management believes are necessary for a fair presentation of the information for the periods presented. The Company's quarterly operating results may fluctuate significantly as a result of a variety of factors, and operating results for any fiscal quarter are not necessarily indicative of results for a full fiscal year or future fiscal quarters.
|  | September 30, 2015 |  | December 31, 2015 |  | March 31, 2016 |  | June 30, 2016
(In thousands, except per share data) |  |  |  |  |  |  |  |
Net sales |  | $ | 133,445 |  |  | $ | 142,307 |  |  | $ | 134,468 |  |  | $ | 134,162 |
Gross profit |  | $ | 50,579 |  |  | $ | 52,908 |  |  | $ | 52,560 |  |  | $ | 52,428 |
(Loss) income from operations |  | $ | (563 | ) |  | $ | 5,361 |  |  | $ | 306 |  |  | $ | 3,075 |
Net (loss) income |  | $ | (1,074 | ) |  | $ | 5,561 |  |  | $ | 1,192 |  |  | $ | 84,239 |
Net (loss) income) per common share—basic |  | $ | (0.07 | ) |  | $ | 0.34 |  |  | $ | 0.07 |  |  | $ | 5.09 |
Net (loss) income per common share—diluted |  | $ | (0.07 | ) |  | $ | 0.34 |  |  | $ | 0.07 |  |  | $ | 5.05 |
|  | September 30, 2014 |  | December 31, 2014 |  | March 31, 2015 |  | June 30, 2015
(In thousands, except per share data) |  |  |  |  |  |  |  |
Net sales |  | $ | 135,984 |  |  | $ | 144,809 |  |  | $ | 132,507 |  |  | $ | 132,582 |
Gross profit |  | $ | 48,121 |  |  | $ | 53,142 |  |  | $ | 46,569 |  |  | $ | 49,204 |
Income (loss) from operations |  | $ | 2,601 |  |  | $ | 3,505 |  |  | $ | (1,405 | ) |  | $ | (1,417 | )
Net income (loss) |  | $ | 2,515 |  |  | $ | 2,896 |  |  | $ | (2,572 | ) |  | $ | (2,187 | )
Net income (loss) per common share—basic |  | $ | 0.16 |  |  | $ | 0.18 |  |  | $ | (0.16 | ) |  | $ | (0.13 | )
Net income (loss) per common share—diluted |  | $ | 0.16 |  |  | $ | 0.18 |  |  | $ | (0.16 | ) |  | $ | (0.13 | )
In the fourth quarter of fiscal 2016, the Company concluded that it is more likely than not that the Company will generate future earnings sufficient to realize the majority of the Company’s deferred tax assets as of June 30, 2016. Accordingly, the Company recorded a reduction in its valuation allowance in the fourth quarter of fiscal 2016 in the amount of $83.2 million. See Note 20.

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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 FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e765-108305 Reference 2: 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=51825399&loc=d3e1280-108306 Reference 3: 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=51655806&loc=d3e725-108305 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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