Quarterly Results of Operations (Unaudited)

12 Months Ended

Jun. 30, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

(10) QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

A summary of our unaudited quarterly results is presented below for the years ended June 30, 2020 and 2019. Results are computed independently for each of the quarters presented.  Therefore, the sum of the quarterly amounts presented may not equal the total computed for the year due to rounding.  (In thousands, except per share amounts.)

	Quarters Ended
	September 30.			December 31,		March 31,			June 30,
	2019			2019		2020			2020
Net sales	$	224,439		$	324,414	$	165,698		$	160,343
Gross profit		81,132			105,776		52,167			45,794
Operating income/(loss)		(8,651	)		11,099		(30,647	)		(130,996	)
Net income/(loss)		(9,629	)		10,937		(31,040	)		(136,597	)
Basic income/(loss) per share	$	(0.21	)	$	0.24	$	(0.69	)	$	(3.01	)
Diluted income/(loss) per share	$	(0.21	)	$	0.24	$	(0.69	)	$	(3.01	)

	Quarters Ended
	September 30.			December 31,		March 31,			June 30,
	2018			2018		2019			2019
Net sales	$	227,313		$	338,418	$	210,984		$	230,530
Gross profit		82,418			116,745		76,498			76,654
Operating income/(loss)		(7,588	)		16,308		(7,811	)		(11,434	)
Net income/(loss)		(8,109	)		16,006		(8,289	)		(12,049	)
Basic income/(loss) per share	$	(0.18	)	$	0.35	$	(0.18	)	$	(0.27	)
Diluted income/(loss) per share	$	(0.18	)	$	0.35	$	(0.18	)	$	(0.27	)

A significant portion of our net sales and net earnings are realized during the period from October through December while the increase in merchandise purchases in preparation for this holiday selling season occurs in prior months.  Our results for the third and fourth quarters of fiscal 2020 were negatively impacted by the COVID-19 pandemic.