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Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Net sales $ 56,864,000 [1] $ 56,532,000 [2] $ 108,978,000 [3] $ 108,433,000 [4]
Cost of goods sold 38,228,000 37,984,000 72,639,000 73,226,000
Gross margin $ 18,636,000 $ 18,548,000 $ 36,339,000 $ 35,207,000
% of net sales 32.80% 32.80% 33.30% 32.50%
Selling, general and administrative $ 15,874,000 $ 15,100,000 $ 32,132,000 $ 30,823,000
Operating income 2,762,000 3,448,000 [5] 4,207,000 4,384,000 [5]
Other expense (887,000) (457,000) (1,056,000) (451,000)
Income before income taxes 1,875,000 2,991,000 3,151,000 3,933,000
Income tax expense 615,000 1,065,000 1,113,000 1,423,000
Net income $ 1,260,000 $ 1,926,000 $ 2,038,000 $ 2,510,000
Basic income per share (in dollars per share) $ 0.18 $ 0.27 $ 0.29 $ 0.36
Diluted income per share (in dollars per share) $ 0.18 $ 0.27 $ 0.29 $ 0.35
Weighted average outstanding shares used in per share calculations:        
Basic (in shares) 6,955 7,018 6,930 7,022
Diluted (in shares) 7,015 7,067 7,011 7,077
[1] Excludes $1,049 of North American segment intercompany sales to the International segment, and $3,855 of International segment intercompany sales to the North American segment.
[2] Excludes $1,047 of North American segment intercompany sales to the International segment, and $3,744 of International segment intercompany sales to the North American segment.
[3] Excludes $2,016 of North American segment intercompany sales to the International segment, and $8,097 of International segment intercompany sales to the North American segment.
[4] Excludes $2,180 of North American segment intercompany sales to the International segment, and $7,063 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.