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Business Segment Information (Tables)
9 Months Ended
Mar. 31, 2019
Segment Reporting [Abstract]  
Selected Financial Information for Polyester, Nylon, International and Other Segments

Selected financial information is presented below:

 

 

 

For the Three Months Ended March 31, 2019

 

 

 

Polyester

 

 

Nylon

 

 

International

 

 

All Other

 

 

Total

 

Net sales

 

$

95,745

 

 

$

25,563

 

 

$

57,681

 

 

$

1,000

 

 

$

179,989

 

Cost of sales

 

 

92,221

 

 

 

23,251

 

 

 

49,784

 

 

 

942

 

 

 

166,198

 

Gross profit

 

 

3,524

 

 

 

2,312

 

 

 

7,897

 

 

 

58

 

 

 

13,791

 

Segment depreciation expense

 

 

3,858

 

 

 

516

 

 

 

420

 

 

 

47

 

 

 

4,841

 

Segment Profit

 

$

7,382

 

 

$

2,828

 

 

$

8,317

 

 

$

105

 

 

$

18,632

 

 

 

 

For the Three Months Ended March 25, 2018

 

 

 

Polyester

 

 

Nylon

 

 

International

 

 

All Other

 

 

Total

 

Net sales

 

$

88,763

 

 

$

24,036

 

 

$

51,989

 

 

$

1,079

 

 

$

165,867

 

Cost of sales

 

 

83,948

 

 

 

23,023

 

 

 

41,317

 

 

 

1,023

 

 

 

149,311

 

Gross profit

 

 

4,815

 

 

 

1,013

 

 

 

10,672

 

 

 

56

 

 

 

16,556

 

Segment depreciation expense

 

 

4,022

 

 

 

560

 

 

 

436

 

 

 

66

 

 

 

5,084

 

Segment Profit

 

$

8,837

 

 

$

1,573

 

 

$

11,108

 

 

$

122

 

 

$

21,640

 

 

 

 

For the Nine Months Ended March 31, 2019

 

 

 

Polyester

 

 

Nylon

 

 

International

 

 

All Other

 

 

Total

 

Net sales

 

$

281,665

 

 

$

76,159

 

 

$

168,271

 

 

$

3,216

 

 

$

529,311

 

Cost of sales

 

 

269,444

 

 

 

69,671

 

 

 

139,275

 

 

 

2,955

 

 

 

481,345

 

Gross profit

 

 

12,221

 

 

 

6,488

 

 

 

28,996

 

 

 

261

 

 

 

47,966

 

Segment depreciation expense

 

 

12,047

 

 

 

1,576

 

 

 

1,146

 

 

 

190

 

 

 

14,959

 

Segment Profit

 

$

24,268

 

 

$

8,064

 

 

$

30,142

 

 

$

451

 

 

$

62,925

 

 

 

 

For the Nine Months Ended March 25, 2018

 

 

 

Polyester

 

 

Nylon

 

 

International

 

 

All Other

 

 

Total

 

Net sales

 

$

266,817

 

 

$

75,966

 

 

$

151,694

 

 

$

3,110

 

 

$

497,587

 

Cost of sales

 

 

244,513

 

 

 

68,563

 

 

 

119,050

 

 

 

2,937

 

 

 

435,063

 

Gross profit

 

 

22,304

 

 

 

7,403

 

 

 

32,644

 

 

 

173

 

 

 

62,524

 

Segment depreciation expense

 

 

11,862

 

 

 

1,649

 

 

 

1,249

 

 

 

195

 

 

 

14,955

 

Segment Profit

 

$

34,166

 

 

$

9,052

 

 

$

33,893

 

 

$

368

 

 

$

77,479

 

Reconciliations of Segment Gross Profit to Consolidated (loss) Income Before Income Taxes

The reconciliations of segment gross profit to consolidated (loss) income before income taxes are as follows:

 

 

 

For the Three Months Ended

 

 

For the Nine Months Ended

 

 

 

March 31, 2019

 

 

March 25, 2018

 

 

March 31, 2019

 

 

March 25, 2018

 

Polyester

 

$

3,524

 

 

$

4,815

 

 

$

12,221

 

 

$

22,304

 

Nylon

 

 

2,312

 

 

 

1,013

 

 

 

6,488

 

 

 

7,403

 

International

 

 

7,897

 

 

 

10,672

 

 

 

28,996

 

 

 

32,644

 

All Other

 

 

58

 

 

 

56

 

 

 

261

 

 

 

173

 

Segment gross profit

 

 

13,791

 

 

 

16,556

 

 

 

47,966

 

 

 

62,524

 

Selling, general and administrative expenses

 

 

11,439

 

 

 

13,846

 

 

 

40,672

 

 

 

41,335

 

Provision (benefit) for bad debts

 

 

218

 

 

 

27

 

 

 

381

 

 

 

(104

)

Other operating expense, net

 

 

1,359

 

 

 

1,100

 

 

 

1,218

 

 

 

1,763

 

Operating income

 

 

775

 

 

 

1,583

 

 

 

5,695

 

 

 

19,530

 

Interest income

 

 

(149

)

 

 

(182

)

 

 

(448

)

 

 

(444

)

Interest expense

 

 

1,256

 

 

 

1,187

 

 

 

4,078

 

 

 

3,562

 

Loss on extinguishment of debt

 

 

 

 

 

 

 

 

131

 

 

 

 

Equity in earnings of unconsolidated affiliates

 

 

(1,873

)

 

 

(544

)

 

 

(3,126

)

 

 

(3,842

)

Income before income taxes

 

$

1,541

 

 

$

1,122

 

 

$

5,060

 

 

$

20,254

 

 

Reconciliation of Segment Total Assets to Consolidated Total Assets

The reconciliations of segment total assets to consolidated total assets are as follows:

 

 

 

March 31, 2019

 

 

June 24, 2018

 

Polyester

 

$

291,625

 

 

$

284,261

 

Nylon

 

 

60,904

 

 

 

57,378

 

International

 

 

100,411

 

 

 

95,006

 

Segment total assets

 

 

452,940

 

 

 

436,645

 

Other current assets

 

 

19,496

 

 

 

30,945

 

Other PP&E

 

 

19,091

 

 

 

17,373

 

Other non-current assets

 

 

2,516

 

 

 

4,205

 

Investments in unconsolidated affiliates

 

 

114,748

 

 

 

112,639

 

Total assets

 

$

608,791

 

 

$

601,807