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Quarterly Financial Data (Unaudited)
 12 Months Ended
Jun. 30, 2018
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (Unaudited)
QUARTERLY FINANCIAL DATA (UNAUDITED)

A summary of the Company’s consolidated quarterly results of operations is as follows. The sum of the net income per share from continuing operations for each of the four quarters may not equal the net income per share for the full year, as presented, due to rounding.

 
Three Months Ended
 
June 30,
2018
 
March 31, 2018
 
December 31, 2017
 
September 30, 2017
Net sales
$
619,598

 
$
632,720

 
$
616,232

 
$
589,219

Gross profit
$
125,097

 
$
133,013

 
$
133,950

 
$
123,388

Operating income
$
16,580

 
$
29,254

 
$
30,965

 
$
29,241

Income before income taxes and equity in earnings of equity-method investees
$
5,838

 
$
24,032

 
$
25,246

 
$
26,086

Net (loss) income from continuing operations
$
(4,556
)
 
$
25,241

 
$
43,130

 
$
18,613

Net (loss) income from discontinued operations, net of tax
$
(65,385
)
 
$
(12,555
)
 
$
3,973

 
$
1,233

  Net (loss) income
$
(69,941
)
 
$
12,686

 
$
47,103

 
$
19,846

 
 
 
 
 
 
 
 
Net income (loss) per common share:
 
 
 
 
 
 
 
Basic net (loss) income per common share from continuing operations
$
(0.04
)
 
$
0.24

 
$
0.42

 
$
0.18

Basic net (loss) income per common share from discontinued operations
$
(0.63
)
 
$
(0.12
)
 
$
0.04

 
$
0.01

  Basic net income (loss) per common share
$
(0.67
)
 
$
0.12

 
$
0.45

 
$
0.19

 
 
 
 
 
 
 
 
Diluted net (loss) income per common share from continuing operations
$
(0.04
)
 
$
0.24

 
$
0.41

 
$
0.18

Diluted net (loss) income per common share from discontinued operations
$
(0.63
)
 
$
(0.12
)
 
$
0.04

 
$
0.01

  Diluted net income (loss) per common share
$
(0.67
)
 
$
0.12

 
$
0.45

 
$
0.19



The quarter ended June 30, 2018 was impacted by goodwill impairment charges of $7,700 ($5,553 net of tax) in the Cultivate operating segment, impairment charges of $5,632 ($5,192 net of tax) related to indefinite-lived intangible assets (trade names), as well as a $113 ($104 net of tax) impairment charge primarily related to the closure of manufacturing facilities in the United States. Additionally, the quarter ended June 30, 2018 was impacted by $2,887 ($1,941 net of tax) related to professional fees associated with our internal accounting review and remediation costs, net of insurance proceeds. Net loss from discontinued operations in the quarter ended June 30, 2018 was impacted by asset impairment charges of $78,464 to adjust the carrying value of Hain Pure Protein to its fair value, less its cost to sell.

The quarter ended March 31, 2018 was impacted by impairment charges of $2,557 ($2,050 net of tax) primarily related to the closure of a manufacturing facility of certain soup products in the United Kingdom, as well as an impairment charge of $2,057 ($1,648 net of tax) related to the discontinuation of additional slow moving SKUs in the United States as part of an ongoing product rationalization initiative. Additionally, the quarter ended March 30, 2018 was impacted by $3,313 ($2,654 net of tax) related to professional fees associated with our internal accounting review and remediation costs.

The quarter ended December 31, 2017 was impacted by impairment charges of $3,449 ($2,593 net of tax) related to the closure of a facility in the United States, as well as $4,451 ($3,346 net of tax) related to professional fees associated with our internal accounting review and remediation costs.

The quarter ended September 30, 2017 was impacted by $3,642 ($2,638 net of tax) related to professional fees associated with our internal accounting review and insurance proceeds of $5,000 ($3,622 net of tax) related to the reimbursement of costs incurred as part of the internal accounting review and the independent review by the Audit Committee and other related matters.
 
Three Months Ended
 
June 30,
2017
 
March 31, 2017
 
December 31, 2016
 
September 30, 2016
Net sales
$
602,891

 
$
588,798

 
$
587,021

 
$
564,795

Gross profit
$
143,862

 
$
139,203

 
$
130,011

 
$
106,320

Operating income
$
7,174

 
$
49,621

 
$
37,859

 
$
14,769

Income before income taxes and equity in earnings of equity-method investees
$
1,366

 
$
42,150

 
$
34,116

 
$
10,246

Net (loss) income from continuing operations
$
(1,504
)
 
$
32,824

 
$
24,769

 
$
9,452

Net income (loss) from discontinued operations, net of tax
$
1,817

 
$
(1,496
)
 
$
2,417

 
$
(849
)
  Net income
$
313

 
$
31,328

 
$
27,185

 
$
8,604

 
 
 
 
 
 
 
 
Net income (loss) per common share:
 
 
 
 
 
 
 
Basic net (loss) income per common share from continuing operations
$
(0.01
)
 
$
0.32

 
$
0.24

 
$
0.09

Basic net income (loss) per common share from discontinued operations
$
0.02

 
$
(0.01
)
 
$
0.02

 
$
(0.01
)
  Basic net income per common share
$
—

 
$
0.30

 
$
0.26

 
$
0.08

 
 
 
 
 
 
 
 
Diluted net (loss) income per common share from continuing operations
$
(0.01
)
 
$
0.31

 
$
0.24

 
$
0.09

Diluted net income (loss) per common share from discontinued operations
$
0.02

 
$
(0.01
)
 
$
0.02

 
$
(0.01
)
  Diluted net income per common share
$
—

 
$
0.30

 
$
0.26

 
$
0.08



The quarter ended June 30, 2017 was impacted by impairment charges of $14,079 ($10,733 net of tax) related to indefinite-lived intangible assets (trade names), as well as a $26,373 ($20,877 net of tax) impairment charge primarily related to long-lived assets associated with the exit of certain portions of our own-label chilled desserts business in the United Kingdom. Additionally, the quarter ended June 30, 2017 was impacted by $9,473 ($6,773 net of tax) related to professional fees associated with our internal accounting review.

The quarters ended March 31, 2017, December 31, 2016 and September 30, 2016 were impacted by $7,124 ($5,029 net of tax), $7,005 ($5,050 net of tax) and $5,960 ($4,112 net of tax), respectively, related to professional fees associated with our internal accounting review.