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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2018
Mar. 31, 2017
Net sales $ 78,843 $ 78,156 $ 258,614 $ 247,973
Cost of products and services sold 58,925 59,445 189,686 185,877
Restructuring costs 312 1,455
Gross profit 19,918 18,399 68,928 60,641
Impairment of goodwill 479 28,000 479
Acquisition deal costs 1,480 1,480
Restructuring costs (gain) (1,301) (1,091)
Selling and administrative expenses 19,175 18,515 60,452 56,663
Operating income (loss) 743 (774) (19,524) 3,110
Interest (income) (8) (25) (24) (80)
Interest expense 408 188 1,244 209
Income (loss) before income taxes 343 (937) (20,744) 2,981
Income tax expense (benefit) 123 (406) (3,867) 677
Net income (loss) $ 220 $ (531) $ (16,877) $ 2,304
Earnings (Loss) per common share (see Note 4)        
Basic (in dollars per share) $ 0.01 $ (0.02) $ (0.65) $ 0.09
Diluted (in dollars per share) $ 0.01 $ (0.02) $ (0.65) $ 0.09
Weighted average common shares outstanding        
Basic (in shares) 25,875 25,452 25,835 25,346
Diluted (in shares) [1] 26,437 25,452 25,835 25,909
[1] Options to purchase 1,945,348 common shares and 1,364,013 common shares for the three months ended March 31, 2018 and 2017, respectively, and options to purchase 3,086,121 common shares and 1,391,300 common shares for the nine months ended March 31, 2018 and 2017, respectively were not included in the computation of the three month and nine month period 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 in March 31, 2017 and nine months ended March 31, 2018, the effect of dilutive securities was not included in the calculation of diluted earnings (loss) per share because there was a net operating loss for the period.