XML 18 R86.htm IDEA: XBRL DOCUMENT v2.4.0.8
Quarterly Data (Details) (USD $)
3 Months Ended 12 Months Ended
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Quarterly Data [Line Items]                      
Net sales $ 267,579,000 $ 264,484,000 $ 467,919,000 $ 344,541,000 $ 265,534,000 $ 239,279,000 $ 429,926,000 $ 303,534,000 $ 1,344,523,000 $ 1,238,273,000 $ 1,175,500,000
Gross profit 118,743,000 [1] 126,185,000 [1] 236,466,000 [1] 147,399,000 [1] 129,690,000 [2] 119,592,000 217,313,000 142,436,000 628,793,000 609,031,000 556,277,000
(Loss) income from operations (5,078,000) [1] 4,334,000 [1] 63,841,000 [1] 8,863,000 [1] 8,843,000 [2] 7,365,000 61,792,000 17,271,000 71,960,000 95,271,000 77,575,000
Net (loss) income (5,009,000) [3] (1,273,000) [3] 44,809,000 [3] 2,184,000 [3] 3,625,000 2,191,000 42,371,000 9,232,000 40,711,000 57,419,000 40,989,000
(Loss) income per common share, Basic $ (0.17) [1] $ (0.04) [1] $ 1.51 [1] $ 0.07 [1] $ 0.12 [2] $ 0.08 $ 1.46 $ 0.32 $ 1.37 $ 1.97 $ 1.47
(Loss) income per common share, Diluted $ (0.17) [1] $ (0.04) [1] $ 1.47 [1] $ 0.07 [1] $ 0.12 [2] $ 0.07 $ 1.42 $ 0.31 $ 1.33 $ 1.91 $ 1.41
Inventory related costs   600,000 1,900,000 11,300,000         715,730,000 629,242,000 619,223,000
Product changeover costs and expenses, and product discontinuation 12,900,000 2,800,000 3,900,000 3,500,000 400,000       22,600,000 400,000  
License termination costs         1,400,000         1,400,000  
Transaction costs for acquisitions   100,000   300,000 800,000       400,000 800,000  
Other non-recurring expenses 1,500,000               500,000    
Freight audit and payment services related expenses                 1,500,000    
Total 14,400,000 3,500,000 5,800,000 15,100,000              
Impact of charges on basic earnings per share                 $ 0.83 $ (0.17)  
Impact of charges on diluted earnings per share                 $ 0.81 $ (0.16)  
Out-of-period adjustments 900,000               900,000    
Income tax expense                 6,940,000 16,093,000 8,637,000
Net income (5,009,000) [3] (1,273,000) [3] 44,809,000 [3] 2,184,000 [3] 3,625,000 2,191,000 42,371,000 9,232,000 40,711,000 57,419,000 40,989,000
New Wave And Give Back Brands [Member]
                     
Quarterly Data [Line Items]                      
Inventory related costs         4,500,000       13,800,000 4,500,000  
Inventory related costs which did not require the use of cash                 6,400,000    
Transaction costs for acquisitions                 400,000    
Impact Of Out-Of-Period Adjustment [Member]
                     
Quarterly Data [Line Items]                      
Net (loss) income (900,000)               (900,000)    
Income tax expense 900,000               900,000    
Net income $ (900,000)               $ (900,000)    
[1] (1) For the year ended June 30, 2013, gross profit includes $13.8 million of inventory-related costs ($6.4 million of which did not require the use of cash in fiscal 2013) primarily for inventory purchased by the Company from New Wave Fragrances, LLC and Give Back Brands, LLC prior to the acquisition of licenses and certain other assets from those companies and other transition costs, and $22.6 million of non-recurring product changeover costs and product discontinuation charges related to the repositioning of the Elizabeth Arden brand. In addition, income from operations includes (i) $0.4 million in transition costs associated with the 2012 Acquisitions, (ii) $0.5 million of non-recurring product changeover expenses related to the repositioning of the Elizabeth Arden brand, and (iii) $1.5 million of expenses related to a third party provider of freight audit and payment services that entered into bankruptcy after receiving funds from the Company to pay Company freight invoices and breaching its obligation to remit those funds to the freight companies. For the year ended June 30, 2013, acquisition related costs and expenses, product changeover costs and expenses, product discontinuation charges and other non-recurring expenses reduced both basic and fully diluted earnings per share by $0.83 and $0.81, respectively. The breakout of acquisition related costs and expenses, product changeover costs and expenses, product discontinuation charges and other non-recurring expenses by fiscal quarter is as follows: Fiscal Quarter Ended (Amounts in millions) June 30, March 31, December 31, September 30, 2013 2013 2012 2012 Inventory-related costs- 2012 Acquisitions $ - $ 0.6 $ 1.9 $ 11.3 Product changeover costs and expenses, and product discontinuation charges related to Elizabeth Arden brand repositioning 12.9 2.8 3.9 3.5 Transition costs- 2012 Acquisitions - 0.1 - 0.3 Other non-recurring expenses 1.5 - - - Total $ 14.4 $ 3.5 $ 5.8 $ 15.1
[2] For the fourth quarter of the year ended June 30, 2012, gross profit includes (i) $4.5 million of inventory-related costs primarily for inventory purchased by the Company from New Wave Fragrances LLC and Give Back Brands, LLC prior to the asset acquisitions from those companies, and (ii) $0.4 million for product discontinuation charges. In addition, income from operations includes (i) $1.4 million in license termination costs, and (ii) $0.8 million in transaction costs associated with the 2012 Acquisitions. For the year ended June 30, 2012, inventory-related costs and transaction costs for the 2012 Acquisitions, as well as product discontinuation charges and license termination costs reduced both basic and fully diluted earnings per share $0.17 and $0.16, respectively.
[3] For the quarter ended June 30, 2013, net income includes an out-of-period adjustments of $0.9 million to correct an error related to deferred taxes. Income tax expense increased and net income decreased by $0.9 million. The Company did not adjust the prior periods as it concluded that such adjustments were not material to the current or prior period consolidated financial statements.