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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Mar. 31, 2019
Mar. 31, 2018
Net sales $ 72,832 $ 78,843 $ 247,330 $ 258,614
Cost of products and services sold 57,180 58,925 190,207 189,686
Restructuring costs 261 792
Severance costs 54 77
Gross profit 15,337 19,918 56,254 68,928
Selling and administrative expenses 17,515 19,175 54,990 60,452
Impairment of goodwill 20,165 28,000
Severance (gain) costs (12) 457
Transition and realignment costs 120
Restructuring costs 107 132
Operating (loss) income (2,273) 743 (19,610) (19,524)
Interest (income) (6) (8) (37) (24)
Interest expense 585 408 1,749 1,244
Other expense 183 183
(Loss) income before income taxes (3,035) 343 (21,505) (20,744)
Income tax expense (benefit) 133 123 (4,304) (3,867)
Net (loss) $ (3,168) $ 220 $ (17,201) $ (16,877)
(Loss) Earnings per common share (see Note 4)        
Basic (loss) earnings per share (in dollars per share) $ (0.12) $ 0.01 $ (0.66) $ (0.65)
Diluted (loss) earnings per share (in dollars per share) $ (0.12) $ 0.01 $ (0.66) $ (0.65)
Weighted average common shares outstanding        
Basic (in shares) 26,132 25,875 26,083 25,835
Diluted (in shares) [1] 26,132 26,437 26,083 25,835
[1] Options to purchase 3,536,732 common shares and 3,569,762 common shares for the three months ended December 31, 2018 and 2017, respectively, were not included in the computation of the three month diluted loss per share because the exercise price was greater than the average fair market value of the common shares. Additionally, options to purchase 3,356,101 common shares and 3,549,705 common shares for the six months ended at December 31, 2018 and 2017, respectively, were not included in the computation of the six month diluted loss per share because the exercise price was greater than the average fair market value of the common shares. For the three months ended and the six months ended in December 31, 2018 and December 31, 2017, the effect of dilutive securities was not included in the calculation of diluted loss per share because there was a net loss for the period.