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Business Segment Information (Tables)
9 Months Ended
Mar. 28, 2021
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 28, 2021

 

 

 

Polyester

 

 

Asia

 

 

Brazil

 

 

Nylon

 

 

All Other

 

 

Total

 

Net sales

 

$

82,668

 

 

$

48,483

 

 

$

25,704

 

 

$

20,778

 

 

$

1,233

 

 

$

178,866

 

Cost of sales

 

 

75,446

 

 

 

41,330

 

 

 

15,106

 

 

 

20,341

 

 

 

1,048

 

 

 

153,271

 

Gross profit

 

 

7,222

 

 

 

7,153

 

 

 

10,598

 

 

 

437

 

 

 

185

 

 

 

25,595

 

Segment depreciation expense

 

 

5,036

 

 

 

 

 

 

299

 

 

 

441

 

 

 

161

 

 

 

5,937

 

Segment Profit

 

$

12,258

 

 

$

7,153

 

 

$

10,897

 

 

$

878

 

 

$

346

 

 

$

31,532

 

 

 

 

For the Three Months Ended March 29, 2020

 

 

 

Polyester

 

 

Asia

 

 

Brazil

 

 

Nylon

 

 

All Other

 

 

Total

 

Net sales

 

$

89,767

 

 

$

38,621

 

 

$

21,060

 

 

$

20,567

 

 

$

979

 

 

$

170,994

 

Cost of sales

 

 

82,735

 

 

 

34,038

 

 

 

17,644

 

 

 

20,234

 

 

 

960

 

 

 

155,611

 

Gross profit

 

 

7,032

 

 

 

4,583

 

 

 

3,416

 

 

 

333

 

 

 

19

 

 

 

15,383

 

Segment depreciation expense

 

 

4,301

 

 

 

 

 

 

421

 

 

 

471

 

 

 

137

 

 

 

5,330

 

Segment Profit

 

$

11,333

 

 

$

4,583

 

 

$

3,837

 

 

$

804

 

 

$

156

 

 

$

20,713

 

 

 

 

For the Nine Months Ended March 28, 2021

 

 

 

Polyester

 

 

Asia

 

 

Brazil

 

 

Nylon

 

 

All Other

 

 

Total

 

Net sales

 

$

228,440

 

 

$

130,898

 

 

$

72,563

 

 

$

47,815

 

 

$

3,431

 

 

$

483,147

 

Cost of sales

 

 

205,691

 

 

 

112,639

 

 

 

49,375

 

 

 

46,318

 

 

 

3,034

 

 

 

417,057

 

Gross profit

 

 

22,749

 

 

 

18,259

 

 

 

23,188

 

 

 

1,497

 

 

 

397

 

 

 

66,090

 

Segment depreciation expense

 

 

13,909

 

 

 

 

 

 

1,050

 

 

 

1,321

 

 

 

489

 

 

 

16,769

 

Segment Profit

 

$

36,658

 

 

$

18,259

 

 

$

24,238

 

 

$

2,818

 

 

$

886

 

 

$

82,859

 

 

 

 

For the Nine Months Ended March 29, 2020

 

 

 

Polyester

 

 

Asia

 

 

Brazil

 

 

Nylon

 

 

All Other

 

 

Total

 

Net sales

 

$

261,212

 

 

$

132,496

 

 

$

66,094

 

 

$

57,853

 

 

$

2,799

 

 

$

520,454

 

Cost of sales

 

 

239,725

 

 

 

118,114

 

 

 

55,089

 

 

 

56,296

 

 

 

2,739

 

 

 

471,963

 

Gross profit

 

 

21,487

 

 

 

14,382

 

 

 

11,005

 

 

 

1,557

 

 

 

60

 

 

 

48,491

 

Segment depreciation expense

 

 

12,525

 

 

 

 

 

 

1,153

 

 

 

1,465

 

 

 

300

 

 

 

15,443

 

Segment Profit

 

$

34,012

 

 

$

14,382

 

 

$

12,158

 

 

$

3,022

 

 

$

360

 

 

$

63,934

 

 

 

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

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

 

 

 

For the Three Months Ended

 

 

For the Nine Months Ended

 

 

 

March 28, 2021

 

 

March 29, 2020

 

 

March 28, 2021

 

 

March 29, 2020

 

Polyester

 

$

7,222

 

 

$

7,032

 

 

$

22,749

 

 

$

21,487

 

Asia

 

 

7,153

 

 

 

4,583

 

 

 

18,259

 

 

 

14,382

 

Brazil

 

 

10,598

 

 

 

3,416

 

 

 

23,188

 

 

 

11,005

 

Nylon

 

 

437

 

 

 

333

 

 

 

1,497

 

 

 

1,557

 

All Other

 

 

185

 

 

 

19

 

 

 

397

 

 

 

60

 

Segment gross profit

 

 

25,595

 

 

 

15,383

 

 

 

66,090

 

 

 

48,491

 

Selling, general and administrative expenses

 

 

14,581

 

 

 

11,720

 

 

 

38,570

 

 

 

35,208

 

(Benefit) provision for bad debts

 

 

(184

)

 

 

580

 

 

 

(1,330

)

 

 

331

 

Other operating expense (income), net

 

 

2,582

 

 

 

(62

)

 

 

4,236

 

 

 

900

 

Operating income

 

 

8,616

 

 

 

3,145

 

 

 

24,614

 

 

 

12,052

 

Interest income

 

 

(159

)

 

 

(173

)

 

 

(471

)

 

 

(595

)

Interest expense

 

 

885

 

 

 

1,231

 

 

 

2,589

 

 

 

3,589

 

Equity in earnings of unconsolidated affiliates

 

 

(528

)

 

 

(3,526

)

 

 

(751

)

 

 

(1,904

)

Impairment of investment in unconsolidated affiliate

 

 

 

 

 

45,194

 

 

 

 

 

 

45,194

 

Income (loss) before income taxes

 

$

8,418

 

 

$

(39,581

)

 

$

23,247

 

 

$

(34,232

)

 

Reconciliation of Segment Total Assets to Consolidated Total Assets

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

 

 

 

March 28, 2021

 

 

June 28, 2020

 

Polyester

 

$

271,682

 

 

$

263,496

 

Asia

 

 

61,494

 

 

 

41,452

 

Brazil

 

 

62,898

 

 

 

49,967

 

Nylon

 

 

42,357

 

 

 

42,020

 

Segment total assets

 

 

438,431

 

 

 

396,935

 

Other current assets

 

 

62,460

 

 

 

48,600

 

Other PP&E

 

 

22,036

 

 

 

23,676

 

Other operating lease assets

 

 

1,210

 

 

 

1,503

 

Other non-current assets

 

 

4,235

 

 

 

3,448

 

Total assets

 

$

528,372

 

 

$

474,162