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Note 18 - Quarterly Financial Data (Unaudited)
 12 Months Ended
Jun. 30, 2020
Notes to Financial Statements  
Quarterly Financial Information [Text Block]
1
8
. QUARTERLY FINANCIAL DATA (unaudited)
 
(in thousands except per share data)
 
Quarter Ended
  
Net
Sales
    
Gross
Margin
    
Earnings
/ (Loss)
Before
Income
Taxes
    
Net
Earnings /
(Loss)
    
Basic and
Diluted
Earnings
/ (Loss)
Per Share
  
September 2018
   $
51,901
     $
16,659
     $
942
     $
584
     $
0.08
  
December 2018
    
56,532
      
18,548
      
2,991
      
1,926
      
0.27
  
March 2019
    
58,498
      
19,155
      
3,045
      
2,088
      
0.30
  
June 2019
    
61,091
      
20,579
      
2,632
      
1,481
      
0.22
  
    $
228,022
     $
74,941
     $
9,610
     $
6,079
     $
0.87
  
September 2019
   $
52,114
     $
17,703
     $
1,276
     $
778
     $
0.11
  
December 2019
    
56,864
      
18,836
      
1,875
      
1,260
      
0.18
  
March 2020
    
49,998
      
14,844
      
287
      
613
      
0.09
  
June 2020
    
42,475
      
10,827
      
(23,435
)
    
(24,490
)
    
(3.52
 )
    $
201,451
     $
62,210
     $
(19,997
)
   $
(21,839
)
   $
(3.14
 )
 
Operating income in the
June
quarter fiscal
2020
was
$2.8
million, exclusive of
$8.1
million of adjustments related to impairment and restructuring. The financial markets also had an adverse impact on earnings in fiscal
2020
as the increased demand for bonds and the associated decrease in interest rates significantly contributed to a
$16.7
million non-cash pension expense due to higher liabilities. The pension liability, recorded in Other Income, is based upon the
ten
-year Corporate Bond Rate and is set on the last day of the fiscal year.