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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Mar. 31, 2017
Mar. 31, 2016
Net sales $ 78,156 $ 70,740 $ 247,973 $ 241,352
Cost of products and services sold 59,445 54,191 185,877 177,528
Restructuring costs 312 1,455
Gross profit 18,399 16,549 60,641 63,824
Intangible asset impairment 479 479
Acquisition Deal Costs 1,480 1,480
Restructuring costs (gain) (1,301) (1,091)
Selling and administrative expenses 18,515 15,817 56,663 51,949
Operating income (loss) (774) 732 3,110 11,875
Interest (income) (25) (28) (80) (54)
Interest expense 188 9 209 27
Income (loss) before income taxes (937) 751 2,981 11,902
Income tax (benefit) expense (406) 229 677 3,848
Net income (loss) $ (531) $ 522 $ 2,304 $ 8,054
Earnings (loss) per common share (see Note 4)        
Basic (in dollars per share) $ (0.02) $ 0.02 $ 0.09 $ 0.32
Basic earnings (loss) per share (in dollars per share) $ (0.02) $ 0.02 $ 0.09 $ 0.32
Weighted average common shares outstanding        
Basic (in shares) 25,452 25,080 25,346 24,918
Diluted (in shares) [1] 25,452 25,700 25,909 25,494
[1] Options to purchase 1,032,250 common shares at March 31, 2016, and options to purchase 1,683,883 common shares and 1,391,300 common shares at March 31, 2017 and 2016, respectively were not included in the computation of the three month and nine month periods for diluted earnings per share, respectively, because the exercise price was greater than the average fair market value of the common shares. For the three months ended March 31, 2017, the effect of dilutive securities was not included in the calculation of diluted earnings per share because there was a net operating loss for the period.