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Quarterly Financial Data (Unaudited)
 12 Months Ended
Jun. 30, 2016
Quarterly Financial Data [Abstract]  
Quarterly Financial Data (Unaudited)
SUPPLEMENTARY DATA
 
Quarterly Financial Data (Unaudited)
 
Quarterly sales and earnings results are normally influenced by seasonal factors.  Historically, the first two fiscal quarters (three months ending September 30 and December 31) are typically the lowest principally because of annual plant vacation and maintenance shutdowns by the Company and by many of its customers.  However, the timing of major changes in the general economy or the markets for certain products can alter this pattern.
 
(dollars and shares in millions, except per share amounts)
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Results of Operations
 
 

 
 

 
 

 
 

Fiscal Year 2016
 
 

 
 

 
 

 
 

Net sales
 
$
455.6

 
$
443.8

 
$
456.3

 
$
457.7

 
 
 
 
 
 
 
 
 
Gross profit
 
$
68.6

 
$
66.3

 
$
47.5

 
$
73.5

 
 
 
 
 
 
 
 
 
Operating income (loss)
 
$
24.8

 
$
21.8

 
$
(24.3
)
 
$
29.2

 
 
 
 
 
 
 
 
 
Net income (loss)
 
$
8.9

 
$
11.5

 
$
(23.9
)
 
$
14.9

 
 
 
 
 
 
 
 
 
Fiscal Year 2015
 
 

 
 

 
 

 
 

Net sales
 
$
549.8

 
$
548.4

 
$
570.6

 
$
558.0

 
 
 
 
 
 
 
 
 
Gross profit
 
$
69.1

 
$
85.0

 
$
75.8

 
$
88.4

 
 
 
 
 
 
 
 
 
Operating income
 
$
22.1

 
$
45.0

 
$
4.8

 
$
39.5

 
 
 
 
 
 
 
 
 
Net income (loss)
 
$
13.5

 
$
24.1

 
$
(1.4
)
 
$
22.5

During the quarters ended March 31, 2016, September 30, 2015, June 30, 2015 and March 31, 2015, the Company recorded restructuring and asset impairment charges. See Note 2, Restructuring Charges and Asset Impairment Charges to Notes to Consolidated Financial Statements included in Item 8, “Financial Statements and Supplementary Data”.
 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Earnings (Loss) per common share
 
 
 
 
 
 
 
 
Fiscal Year 2016
 
 
 
 
 
 
 
 
Basic earnings
 
$
0.18

 
$
0.23

 
$
(0.51
)
 
$
0.32

 
 
 
 
 
 
 
 
 
Diluted earnings
 
$
0.18

 
$
0.23

 
$
(0.51
)
 
$
0.32

Fiscal Year 2015
 
 
 
 
 
 
 
 
Basic earnings
 
$
0.25

 
$
0.45

 
$
(0.03
)
 
$
0.44

 
 
 
 
 
 
 
 
 
Diluted earnings
 
$
0.25

 
$
0.45

 
$
(0.03
)
 
$
0.44

 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Weighted average common shares outstanding
 
 
 
 
 
 
 
 
Fiscal Year 2016
 
 

 
 

 
 

 
 

Basic
 
49.7

 
48.8

 
47.1

 
46.9

Diluted
 
49.9

 
48.9

 
47.1

 
47.0

Fiscal Year 2015
 
 

 
 

 
 

 
 

Basic
 
53.5

 
53.4

 
52.6

 
50.9

Diluted
 
53.7

 
53.6

 
52.6

 
51.0