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Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2020
Mar. 31, 2019
Net sales $ 49,998 [1] $ 58,498 [2] $ 158,976 [3] $ 166,931 [4]
Cost of goods sold 35,154 39,343 107,793 112,569
Gross margin $ 14,844 $ 19,155 $ 51,183 $ 54,362
% of Net sales 29.70% 32.70% 32.20% 32.60%
Selling, general and administrative $ 14,780 $ 15,687 $ 46,912 $ 46,510
Operating income 64 3,468 [5] 4,271 7,852 [5]
Other income (expense) 223 (423) (833) (874)
Income before income taxes 287 3,045 3,438 6,978
Income tax expense (benefit) (326) 957 787 2,380
Net income $ 613 $ 2,088 $ 2,651 $ 4,598
Basic income per share (in dollars per share) $ 0.09 $ 0.30 $ 0.38 $ 0.66
Diluted income per share (in dollars per share) $ 0.09 $ 0.30 $ 0.38 $ 0.65
Weighted average outstanding shares used in per share calculations:        
Basic (in shares) 6,962 6,892 6,941 6,978
Diluted (in shares) 7,022 6,959 7,017 7,041
[1] Excludes $1,063 of North American segment intercompany sales to the International segment, and $2,722 of International segment intercompany sales to the North American segment.
[2] Excludes $1,063 of North American segment intercompany sales to the International segment, and $2,722 of International segment intercompany sales to the North American segment.
[3] Excludes $3,079 of North American segment intercompany sales to the International segment, and $10,820 of International segment intercompany sales to the North American segment.
[4] Excludes $3,736 of North American segment intercompany sales to the International segment, and $10,985 of International segment intercompany sales to the North American segment.
[5] As a result of the adoption of ASU 2017-07 "Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost", the respective line items in the Consolidated Statement of Operations for Fiscal 2019 have been reclassified.