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BASIS OF PRESENTATION OF UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Tables)
 3 Months Ended
Sep. 30, 2015
Accounting Policies [Abstract]  
Schedule of Stock-Based Employee Compensation
A summary of equity awards granted is as follows:
 
 
Three Months Ended September 30, 2015
Restricted stock units
 
260,090
Equity-based stock appreciation rights
 
690,461
Performance share units (1)
 
410,153
_______________________________________________________________________________
(1)
Includes 118,967 incremental performance share units earned in connection with the achievement of fiscal year 2015 performance metrics.
Schedule of Error Corrections and Prior Period Adjustments
Following is a summary of the impact the revisions had on net loss:
 
 
Three Months Ended September 30, 2014
 
 
(Dollars in thousands)
Net loss, as reported
 
$
(9,052
)
Revisions:
 
 
Deferred rent, pre-tax (1)
 
(227
)
Previous out of period items, pre-tax (2)
 
80

Tax impact
 
(644
)
Total revision impact
 
(791
)
 
 
 
Net loss, as revised
 
$
(9,843
)

_______________________________________________________________________________
(1)
The Company recognizes rental expense on a straight-line basis at the time the leased space becomes available to the Company. As disclosed in Note 1 of the Form 10-K for the fiscal year ended June 30, 2015, during the fourth quarter of fiscal year 2015, the Company determined its deferred rent balance was understated. Accordingly, the unaudited Condensed Consolidated Financial Statements have been revised to correctly state its deferred rent balances and rent expense. This revision had no impact on cash provided by operations or cash and cash equivalents for the quarter.
(2)
Also, in the fourth quarter of fiscal year 2015, the Company revised certain prior year amounts to correctly recognize understatements of self-insurance accruals. This revision had no impact on cash provided by operations or cash and cash equivalents for the quarter.
The Company assessed the materiality of these misstatements on prior periods' financial statements in accordance with SEC Staff Accounting Bulletin ("SAB") No. 99, Materiality, codified in ASC 250 ("ASC 250"), Presentation of Financial Statements, and concluded these misstatements were not material to any prior annual or interim periods. Accordingly, in accordance with ASC 250 (SAB No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements), the unaudited Condensed Consolidated Financial Statements as of September 30, 2014, which are presented herein, have been revised. The following are selected line items from the Company's unaudited Condensed Consolidated Financial Statements illustrating the effect of these revisions:
 
 
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited)
 
 
(Dollars in thousands, except per share data)
 
 
Three Months Ended September 30, 2014
 
 
As Previously Reported
 
Revision
 
As Revised
Site operating expenses
 
$
51,652

 
$
(80
)
 
$
51,572

Rent
 
77,469

 
227

 
77,696

Loss before income taxes and equity in income of affiliated companies
 
(3,832
)
 
(147
)
 
(3,979
)
Income taxes
 
(5,612
)
 
(644
)
 
(6,256
)
Net loss
 
$
(9,052
)
 
$
(791
)
 
$
(9,843
)
 
 
 
 
 
 
 
Net loss per share:
 
 
 
 
 
 
Basic and diluted earnings per share(1)
 
$
(0.16
)
 
$
(0.01
)
 
$
(0.18
)
_______________________________________________________________________________
(1)
Total is a recalculation; line items calculated individually may not sum to total due to rounding.
 
 
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Unaudited)
 
 
(Dollars in thousands)
 
 
Three Months Ended September 30, 2014
 
 
As Previously Reported
 
Revision
 
As Revised
Net loss
 
$
(9,052
)
 
$
(791
)
 
$
(9,843
)
Comprehensive loss
 
$
(13,674
)
 
$
(791
)
 
$
(14,465
)
 
 
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited)
 
 
(Dollars in thousands)
 
 
Three Months Ended September 30, 2014
 
 
As Previously Reported
 
Revision
 
As Revised
Cash flows from operating activities:
 
 
 
 
 
 
Net loss
 
$
(9,052
)
 
$
(791
)
 
$
(9,843
)
Deferred income taxes
 
4,059

 
560

 
4,619

Changes in operating assets and liabilities, excluding the effects of acquisitions
 
(3,512
)
 
231

 
(3,281
)