Note 16 - Quarterly Financial Data (unaudited)

12 Months Ended

Jun. 30, 2012

Quarterly Financial Information [Text Block]

16. QUARTERLY FINANCIAL DATA (unaudited)

(in thousands except per share data)

Quarter Ended	Net Sales		Gross Margin		Earnings (Loss) Before Income Taxes			Net Earnings			Basic and Diluted Earnings Per Share
Sep. 2010	$	57,539	$	19,283	$	2,260		$	1,267		$	0.19
Dec. 2010		57,290		19,289		3,459			1,694			0.25
Mar. 2011		58,763		19,553		2,991			2,319			0.35
June 2011		71,249		23,675		4,529			1,565			0.23
	$	244,841	$	81,800	$	13,239		$	6,845		$	1.02
Sep. 2011	$	63,384	$	21,590	$	3,751		$	2,249		$	0.33
Dec. 2011		62,219		22,107		3,234			1,715			0.25
Mar. 2012		64,540		21,455		2,231			1,570			0.23
June 2012		70,005		12,923		(9,105	)		(4,646	)		(0.69	)
	$	260,148	$	78,075	$	111		$	888		$	0.13

The “mark to market” method of pension accounting which the Company elected in fiscal 2011, specifies the pension liability must be valued on the last day of the fiscal year and the resulting pension expense adjustment is recorded in the fourth quarter. The actuarial assumption at the beginning of fiscal 2012 was that the discount rate would be 5.44%. The actual discount rate as of June 30, 2012 was 3.92%. The change resulted in an adjustment to fourth quarter expense of $15.2 million including $12.0 million which reduced the gross margin for this period.