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Selected Quarterly Financial Data (Unaudited) | 12 Months Ended
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Jun. 30, 2017
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, 2017. 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, 2016 |  | December 31, 2016 |  | March 31, 2017 |  | June 30, 2017
(In thousands, except per share data) |  |  |  |  |  |  |  |
Net sales |  | $ | 130,488 |  |  | $ | 139,025 |  |  | $ | 138,187 |  |  | $ | 133,800 |
Gross profit |  | $ | 51,198 |  |  | $ | 55,096 |  |  | $ | 53,820 |  |  | $ | 53,618 |
Income from operations |  | $ | 2,505 |  |  | $ | 35,910 |  |  | $ | 2,058 |  |  | $ | 1,693 |
Net income |  | $ | 1,618 |  |  | $ | 20,076 |  |  | $ | 1,594 |  |  | $ | 1,112 |
Net income per common share—basic |  | $ | 0.10 |  |  | $ | 1.21 |  |  | $ | 0.10 |  |  | $ | 0.07 |
Net income per common share—diluted |  | $ | 0.10 |  |  | $ | 1.20 |  |  | $ | 0.10 |  |  | $ | 0.07 |
|  | 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 |
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 21. In the second quarter of fiscal 2017, the Company completed the sale of the Torrance Facility, and recognized a net gain from sale in the amount of $37.4 million, including non-cash interest expense of $0.7 million and non-cash rent expense of $1.4 million. See Note 6.

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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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