XML 42 R5.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Income Statement [Abstract]    
Net sales $ 588,135 $ 531,815
Cost of sales 540,663 488,601
Gross profit 47,472 43,214
Operating expenses    
Research, development and engineering expenses 9,735 9,821
Selling, general and administrative expenses 25,715 24,598
Gain on insurance proceeds, net of losses (4,301) 0
Total operating expenses 31,149 34,419
Operating income 16,323 8,795
Interest expense, net 10,023 5,104
Income before income taxes 6,300 3,691
Income tax provision 1,143 314
Net income $ 5,157 $ 3,377
Earnings per share:    
Net income per share — Basic (in dollars per share) $ 0.48 $ 0.31
Weighted average shares outstanding — Basic (in shares) 10,762 10,762
Net income per share — Diluted (in dollars per share) $ 0.47 $ 0.31
Weighted average shares outstanding — Diluted (in shares) 10,938 11,063