Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Mar. 31, 2019 | Apr. 17, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | ETHAN ALLEN INTERIORS INC | |
Entity Central Index Key | 0000896156 | |
Trading Symbol | eth | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Common Stock, Shares Outstanding (in shares) | 26,579,544 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2019 | Jun. 30, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 25,742 | $ 22,363 |
Accounts receivable, net of reserves of $1,818 at March 31, 2019 and $1,956 at June 30, 2018 | 15,838 | 12,364 |
Inventories | 164,625 | 163,012 |
Prepaid expenses and other current assets | 17,905 | 16,686 |
Total current assets | 224,110 | 214,425 |
Property, plant and equipment, net | 260,222 | 267,903 |
Goodwill | 25,388 | 25,388 |
Intangible assets | 19,740 | 19,740 |
Deferred income taxes | 1,641 | 1,688 |
Other assets | 1,731 | 1,289 |
Total assets | 532,832 | 530,433 |
Current liabilities: | ||
Accounts payable | 19,494 | 18,768 |
Customer Deposits | 62,393 | 61,248 |
Accrued compensation and benefits | 22,758 | 18,926 |
Short-term debt | 544 | 584 |
Accrued expenses and other current liabilities | 21,263 | 21,734 |
Total current liabilities | 126,452 | 121,260 |
Long-term debt | 8,658 | 1,096 |
Deferred income taxes | 3,723 | 4,160 |
Other long-term liabilities | 20,950 | 20,047 |
Total liabilities | 159,783 | 146,563 |
Commitments and contingencies (see Note 13) | ||
Shareholders' equity: | ||
Preferred stock, $0.01 par value; 1,055 shares authorized; none issued | ||
Common stock, $0.01 par value, 150,000 shares authorized, 49,039 and 48,989 shares issued; 26,580 and 26,529 shares outstanding at March 31, 2019 and June 30, 2018, respectively | 490 | 490 |
Additional paid-in capital | 378,756 | 376,950 |
Treasury stock, at cost: 22,460 and 22,460 shares at March 31, 2019 and June 30, 2018, respectively | (656,551) | (656,551) |
Retained earnings | 656,096 | 669,013 |
Accumulated other comprehensive loss | (5,816) | (6,171) |
Total Ethan Allen Interiors Inc. shareholders' equity | 372,975 | 383,731 |
Noncontrolling interests | 74 | 139 |
Total shareholders' equity | 373,049 | 383,870 |
Total liabilities and shareholders' equity | $ 532,832 | $ 530,433 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Mar. 31, 2019 | Jun. 30, 2018 |
Accounts Receivable Reserves | $ 1,818 | $ 1,956 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 1,055 | 1,055 |
Preferred stock, shares issued (in shares) | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 150,000 | 150,000 |
Common stock, shares issues (in shares) | 49,039 | 48,989 |
Common stock, shares outstanding (in shares) | 26,580 | 26,529 |
Treasury stock, shares (in shares) | 22,460 | 22,460 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Net sales | $ 177,829 | $ 181,419 | $ 562,766 | $ 561,202 |
Cost of sales | 79,435 | 84,711 | 254,062 | 256,380 |
Gross profit | 98,394 | 96,708 | 308,704 | 304,822 |
Selling, general and administrative expenses | 87,725 | 92,835 | 270,108 | 271,862 |
Operating income | 10,669 | 3,873 | 38,596 | 32,960 |
Interest (expense), net of interest income | (62) | (70) | 63 | (49) |
Income before income taxes | 10,607 | 3,803 | 38,659 | 32,911 |
Provision for income taxes | 2,629 | 1,187 | 9,651 | 8,018 |
Net income | $ 7,978 | $ 2,616 | $ 29,008 | $ 24,893 |
Basic earnings per common share: | ||||
Net income per basic share (in dollars per share) | $ 0.30 | $ 0.10 | $ 1.09 | $ 0.91 |
Basic weighted average common shares (in shares) | 26,705 | 27,476 | 26,690 | 27,469 |
Diluted earnings per common share: | ||||
Net income per diluted share (in dollars per share) | $ 0.30 | $ 0.09 | $ 1.08 | $ 0.90 |
Diluted weighted average common shares (in shares) | 26,751 | 27,692 | 26,749 | 27,725 |
Comprehensive income | ||||
Net income | $ 7,978 | $ 2,616 | $ 29,008 | $ 24,893 |
Other comprehensive income | ||||
Foreign currency translation adjustments | 303 | 1,451 | 355 | (71) |
Other | (20) | (7) | (65) | (39) |
Other comprehensive income (loss) net of tax | 283 | 1,444 | 290 | (110) |
Comprehensive income | $ 8,261 | $ 4,060 | $ 29,298 | $ 24,783 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Net income | $ 29,008 | $ 24,893 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 14,849 | 14,955 |
Shared-based compensation expense | 986 | 967 |
Deferred income taxes | (390) | (342) |
Loss on disposal of property, plant and equipment | 134 | 191 |
Other | (16) | (11) |
Change in operating assets and liabilities, net of effects of acquired businesses: | ||
Accounts receivable, net | (3,474) | (3,640) |
Inventories | (1,613) | (14,265) |
Prepaid expenses and other current assets | (1,290) | 278 |
Customer Deposits | 1,145 | 4,666 |
Accounts payable | 726 | 7,719 |
Accrued compensation and benefits | 3,832 | 1,737 |
Accrued expenses and other current liabilities | (480) | (1,218) |
Other assets and liabilities | 890 | (840) |
Net cash provided by operating activities | 44,307 | 35,090 |
Cash Flows from Investing Activities | ||
Proceeds from the disposal of property, plant and equipment | 1 | 327 |
Capital expenditures | (6,990) | (9,121) |
Other investing activities | 124 | 154 |
Net cash used in investing activities | (6,865) | (8,640) |
Cash Flows from Financing Activities | ||
Borrowings on revolving credit facility | 16,000 | |
Payments on borrowings and capital lease obligations | (8,443) | (14,306) |
Repurchases of common stock | (1,100) | |
Payment of cash dividends | (41,916) | (24,283) |
Other financing activities | 253 | 141 |
Net cash used in financing activities | (34,106) | (39,548) |
Effect of exchange rate changes on cash and cash equivalents | 43 | 130 |
Net increase (decrease) in cash, cash equivalents, and restricted cash | 3,379 | (12,968) |
Cash, cash equivalents, and restricted cash at beginning of period | 22,363 | 65,031 |
Cash, cash equivalents, and restricted cash at end of period | $ 25,742 | $ 52,063 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | Total |
Balance (in shares) at Jun. 30, 2017 | 48,980 | 21,533 | |||||
Balance at Jun. 30, 2017 | $ 490 | $ 377,550 | $ (635,179) | $ (4,131) | $ 661,976 | $ 190 | $ 400,896 |
Net income | 7,415 | 7,415 | |||||
Common stock issued on share-based awards (in shares) | |||||||
Common stock issued on share-based awards | 4 | 4 | |||||
Share-based compensation expense | 444 | 444 | |||||
Cash dividends declared | (5,243) | (5,243) | |||||
Other comprehensive income (loss) | (130) | (14) | (144) | ||||
Balance (in shares) at Sep. 30, 2017 | 48,980 | 21,509 | |||||
Balance at Sep. 30, 2017 | $ 490 | 376,251 | $ (634,532) | (4,261) | 664,148 | 176 | 402,272 |
Purchase/retirement of company stock (in shares) | (24) | ||||||
Purchase/retirement of company stock | (1,747) | $ 647 | (1,100) | ||||
Balance (in shares) at Jun. 30, 2017 | 48,980 | 21,533 | |||||
Balance at Jun. 30, 2017 | $ 490 | 377,550 | $ (635,179) | (4,131) | 661,976 | 190 | 400,896 |
Net income | 24,893 | ||||||
Other comprehensive income (loss) | (110) | ||||||
Balance (in shares) at Mar. 31, 2018 | 48,985 | 21,509 | |||||
Balance at Mar. 31, 2018 | $ 490 | 376,911 | $ (634,532) | (4,202) | 662,581 | 151 | 401,399 |
Balance (in shares) at Sep. 30, 2017 | 48,980 | 21,509 | |||||
Balance at Sep. 30, 2017 | $ 490 | 376,251 | $ (634,532) | (4,261) | 664,148 | 176 | 402,272 |
Net income | 14,862 | 14,862 | |||||
Common stock issued on share-based awards (in shares) | 5 | ||||||
Common stock issued on share-based awards | 133 | 133 | |||||
Share-based compensation expense | 638 | 638 | |||||
Cash dividends declared | (13,801) | (13,801) | |||||
Other comprehensive income (loss) | (1,392) | (18) | (1,410) | ||||
Balance (in shares) at Dec. 31, 2017 | 48,985 | 21,509 | |||||
Balance at Dec. 31, 2017 | $ 490 | 377,022 | $ (634,532) | (5,653) | 665,209 | 158 | 402,694 |
Net income | 2,616 | 2,616 | |||||
Common stock issued on share-based awards (in shares) | |||||||
Common stock issued on share-based awards | 4 | 4 | |||||
Cash dividends declared | (5,244) | (5,244) | |||||
Other comprehensive income (loss) | 1,451 | (7) | 1,444 | ||||
Balance (in shares) at Mar. 31, 2018 | 48,985 | 21,509 | |||||
Balance at Mar. 31, 2018 | $ 490 | 376,911 | $ (634,532) | (4,202) | 662,581 | 151 | 401,399 |
Share-based compensation expense | (115) | (115) | |||||
Balance (in shares) at Jun. 30, 2018 | 48,989 | 22,460 | |||||
Balance at Jun. 30, 2018 | $ 490 | 376,950 | $ (656,551) | (6,171) | 669,013 | 139 | 383,870 |
Net income | 8,840 | 8,840 | |||||
Common stock issued on share-based awards (in shares) | 40 | ||||||
Common stock issued on share-based awards | 637 | 637 | |||||
Share-based compensation expense | 491 | 491 | |||||
Cash dividends declared | (5,072) | (5,072) | |||||
Other comprehensive income (loss) | 1,247 | (26) | 1,221 | ||||
Balance (in shares) at Sep. 30, 2018 | 49,029 | 22,460 | |||||
Balance at Sep. 30, 2018 | $ 490 | 378,078 | $ (656,551) | (4,924) | 672,781 | 113 | 389,987 |
Balance (in shares) at Jun. 30, 2018 | 48,989 | 22,460 | |||||
Balance at Jun. 30, 2018 | $ 490 | 376,950 | $ (656,551) | (6,171) | 669,013 | 139 | 383,870 |
Net income | 29,008 | ||||||
Other comprehensive income (loss) | 290 | ||||||
Balance (in shares) at Mar. 31, 2019 | 49,039 | 22,460 | |||||
Balance at Mar. 31, 2019 | $ 490 | 378,756 | $ (656,551) | (5,816) | 656,096 | 74 | 373,049 |
Balance (in shares) at Sep. 30, 2018 | 49,029 | 22,460 | |||||
Balance at Sep. 30, 2018 | $ 490 | 378,078 | $ (656,551) | (4,924) | 672,781 | 113 | 389,987 |
Net income | 12,190 | 12,190 | |||||
Common stock issued on share-based awards (in shares) | 9 | ||||||
Common stock issued on share-based awards | 164 | 164 | |||||
Share-based compensation expense | 316 | 316 | |||||
Cash dividends declared | (31,778) | (31,778) | |||||
Other comprehensive income (loss) | (1,195) | (19) | (1,214) | ||||
Balance (in shares) at Dec. 31, 2018 | 49,038 | 22,460 | |||||
Balance at Dec. 31, 2018 | $ 490 | 378,558 | $ (656,551) | (6,119) | 653,193 | 94 | 369,665 |
Net income | 7,978 | 7,978 | |||||
Common stock issued on share-based awards (in shares) | 2 | ||||||
Common stock issued on share-based awards | 19 | 19 | |||||
Share-based compensation expense | 179 | 179 | |||||
Cash dividends declared | (5,075) | (5,075) | |||||
Other comprehensive income (loss) | 303 | (20) | 283 | ||||
Balance (in shares) at Mar. 31, 2019 | 49,039 | 22,460 | |||||
Balance at Mar. 31, 2019 | $ 490 | $ 378,756 | $ (656,551) | $ (5,816) | $ 656,096 | $ 74 | $ 373,049 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | ( 1 Basis of Presentation Founded in 1932, May 25, 1989. We prepare our consolidated financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”), which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of net sales and expenses during the reporting period. Due to the inherent uncertainty involved in making those estimates, actual results could differ from those estimates. Areas in which significant estimates have been made include, but are not Certain reclassifications have been made to the amounts in prior periods in order to conform to the current period’s presentation. |
Note 2 - Interim Financial Pres
Note 2 - Interim Financial Presentation | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ( 2 Interim Financial Presentation In our opinion, all adjustments, consisting only of normal recurring adjustments necessary for fair presentation, have been included in the consolidated financial statements. The results of operations for the three nine March 31, 2019 not may 2018 10 “2018 10 |
Note 3 - Recent Accounting Pron
Note 3 - Recent Accounting Pronouncements | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | ( 3 Recent Accounting Pronouncements As of March 31, 2019, no first nine 2019 New Accounting Standards or Updates Recently Adopted Revenue Recognition - May 2014, 2014 09, Revenue from Contracts with Customers 606 606” first 2019. not 4 Restricted Cash November 2016, 2016 18, Statement of Cash Flows (Topic 230 , not first 2019, 5 Share-Based Payments May 2017, 2017 09, Compensation – Stock Compensation (Topic 718 , not 2017 09 first 2019. no Recent Accounting Standards or Updates Not Leases - February 2016, 2016 02, Leases (Topic 842 twelve 2016 02 2016 02 first 2020 not third not Goodwill Impairment Test January 2017, 2017 04, Intangibles-Goodwill and Other (Topic 350 : Simplifying the Test for Goodwill Impairment, 2 not first 2021 not Implementation Costs in a Cloud Computing Arrangement - August 2018, 2018 15, Cloud Computing Arrangements for Service Contracts first 2021, not No March 31, 2019 |
Note 4 - Revenue Recognition
Note 4 - Revenue Recognition | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | ( 4 Revenue Recognition We implemented ASC 606 first 2019 July 1, 2018. not Our reported revenue (net sales) consist substantially of product sales. We report product sales net of discounts and recognize them at the point in time when control transfers to the customer. For sales to our customers in our wholesale segment, control typically transfers when the product is shipped. For sales in our retail segment, control generally transfers upon delivery to the customer. Estimated refunds for returns and allowances are recorded using our historical return patterns. Under the new standard, we record estimated refunds for sales returns on a gross basis rather than on a net basis and have recorded an asset for product we expect to receive back from customers in Prepaid expenses and other current assets Accrued expenses and other current liabilities March 31, 2019, In many cases we receive deposits from customers before we have transferred control of our product to our customers, resulting in contract liabilities. These contract liabilities are reported as a current liability in Customer Deposits June 30, 2018 $61.2 $1.4 $59.3 three nine March 31, 2019. $62.4 March 31, 2019. Upon adoption of ASC 606, - We recognize shipping and handling expense as fulfillment activities (rather than as a promised good or service) when the activities are performed even if those activities are performed after the control of the good has been transferred. Accordingly, we record the expenses for shipping and handling activities at the same time we recognize net sales. - We exclude from the measurement of the transaction price all taxes imposed on and concurrent with a specific revenue-producing transaction and collected by the entity from a customer, including sales, use, excise, value-added, and franchise taxes (collectively referred to as sales taxes). - We do not one one The following table disaggregates net sales by product category by segment for the three March 31, 2019: (Unaudited, amounts in thousands) Wholesale Retail Total Upholstery furniture $ 53,071 $ 62,351 $ 115,422 Case goods furniture 37,575 40,958 78,533 Accents 19,516 30,028 49,544 Other (1,795 ) 5,610 3,815 Total before intercompany eliminations $ 108,367 $ 138,947 247,314 Eliminations (69,485 ) Consolidated Net Sales $ 177,829 The following table disaggregates net sales by product category by segment for the nine March 31, 2019: (Unaudited, amounts in thousands) Wholesale Retail Total Upholstery furniture $ 162,817 $ 195,667 $ 358,484 Case goods furniture 116,326 131,728 248,054 Accents 58,774 97,644 156,418 Other (3,820 ) 17,630 13,810 Total before intercompany eliminations $ 334,097 $ 442,669 776,766 Eliminations (214,000 ) Consolidated Net Sales $ 562,766 - Upholstery furniture includes fabric-covered items such as sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics and leather. - Case goods furniture includes items such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents. - Accents includes items such as window treatments and drapery hardware, wall décor, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings and home and garden furnishings. - Other includes net sales for product delivery, the Ethan Allen Hotel room rentals and banquets, third |
Note 5 - Restricted Cash
Note 5 - Restricted Cash | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Restricted Assets Disclosure [Text Block] | ( 5 Restricted Cash Prior to June 30, 2018 June 30, 2018, $5.9 The following table presents the components of total cash, cash equivalents, and restricted cash as set forth in our consolidated statements of cash flows (in thousands). March 31, June 30, March 31, June 30, 2019 2018 2018 2017 Cash and cash equivalents $ 25,742 $ 22,363 $ 44,977 $ 57,701 Restricted cash - - 7,086 7,330 Total cash, cash equivalents, and restricted cash $ 25,742 $ 22,363 $ 52,063 $ 65,031 |
Note 6 - Inventories
Note 6 - Inventories | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | ( 6 Inventories Inventories are stated at the lower of cost ( first first Inventories at March 31, 2019 June 30, 2018 March 31, June 30, 2019 2018 Finished goods $ 126,673 $ 124,640 Work in process 11,965 12,057 Raw materials 27,719 27,947 Valuation allowance (1,732 ) (1,632 ) Inventories $ 164,625 $ 163,012 |
Note 7 - Income Taxes
Note 7 - Income Taxes | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | ( 7 Income Taxes The Company reviews its expected annual effective income tax rates and makes changes on a quarterly basis as necessary based on certain factors such as changes in forecasted annual pre-tax income; changes to actual or forecasted permanent book to tax differences; impacts from future tax audits with state, federal or foreign tax authorities; impacts from tax law changes; or changes in judgment as to the realizability of deferred tax assets. The Company identifies items which are non-recurring in nature and treats these as discrete events. The tax effect of such items is recorded in the quarter in which the related events occur. Due to the volatility of these factors, the Company's consolidated effective income tax rate can change significantly quarter over quarter. The Company conducts business globally and, as a result, the Company and its subsidiaries file income tax returns in the U.S. and in various state and foreign jurisdictions. In the normal course of business, the Company is subject to periodic examination in such domestic and foreign jurisdictions by tax authorities. The Company and certain subsidiaries are currently under audit in the U.S. for fiscal 2016. may twelve not may twelve twelve The Company is subject to a U.S. federal statutory tax rate of 21% June 30, 2019 28% 2018, 24.8% 25.0% three nine March 31, 2019 31.2% 24.4% three nine March 31, 2018, 2017 December 2017, |
Note 8 - Debt
Note 8 - Debt | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | ( 8 Debt Total debt obligations at March 31, 2019 June 30, 2018 March 31, June 30, 2019 2018 Borrowings under revolving credit facility $ 8,000 $ - Capital leases 1,202 1,680 Total debt 9,202 1,680 Less current maturities 544 584 Total long-term debt $ 8,658 $ 1,096 Revolving Credit Facility On December 21, 2018, October 21, 2014, $165 December 21, 2023. $0.6 At the Company’s option, revolving loans under the Facility bear interest, based on the average availability, at an annual rate of either (a) the London Interbank Offered rate (“LIBOR”) plus 1.5% 2.0%, 0.5%, 1.0% 0.5% 1.0%. The availability of credit at any given time under the Facility will be constrained by the terms and conditions of the Facility, including the amount of collateral available, a borrowing base formula based upon numerous factors including the value of eligible inventory and eligible accounts receivable, and other restrictions contained in the Facility. All obligations under the Facility are secured by assets of the Loan Parties including inventory, receivables and certain types of intellectual property. Borrowings under the Facility To fund a portion of the special cash dividend paid to shareholders in January 2019, $16.0 December 21, 2023. March 31, 2019, $8.0 one 2.5% 1.5%. The outstanding borrowing amount of $8.0 Long-term debt March 31, 2019. nine March 31, 2019, $0.1 Debt Obligations The following table summarizes, as of March 31, 2019, three 2019, five June 30, 2019, Periods ending June 30, 2019 (remaining three months) $ 135 2020 550 2021 437 2022 60 2023 20 2024 and thereafter 8,000 Total scheduled debt payments $ 9,202 Covenants and Other Ratios The Facility contains various restrictive and affirmative covenants, including required financial reporting, limitations on the ability to grant liens, make loans or other investments, incur additional debt, issue additional equity, merge or consolidate with or into another person, sell assets, pay dividends or make other distributions or enter into transactions with affiliates, along with other restrictions and limitations similar to those frequently found in credit agreements of this type and size. Loans under the Facility may The Facility does not $18.5 1.0 twelve At both March 31, 2019 June 30, 2018, $6.2 $150.8 March 31, 2019 $108.8 June 30, 2018. March 31, 2019 June 30, 2018, |
Note 9 - Share-based Compensati
Note 9 - Share-based Compensation | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | ( 9 Share-Based Compensation All options are issued at the closing stock price on each grant date and have a contractual term of 10 nine March 31, 2019 Weighted Average Options Exercise Price Outstanding at June 30, 2018 561,595 $ 21.70 Granted 25,590 $ 23.45 Exercised (50,250 ) $ 15.89 Canceled (forfeited/expired) (140,364 ) $ 23.03 Outstanding at March 31, 2019 396,571 $ 22.07 Exercisable at March 31, 2019 316,699 $ 20.91 A summary of stock unit awards activity during the nine March 31, 2019 Weighted Stock Average Unit Grant Date Awards Fair Value Outstanding at June 30, 2018 330,369 $ 26.15 Granted 105,644 18.60 Vested - - Canceled (forfeited/expired) (33,227 ) 23.36 Outstanding at March 31, 2019 402,786 $ 24.40 There were no March 31, 2019. At March 31, 2019, 1,489,996 |
Note 10 - Earnings Per Share
Note 10 - Earnings Per Share | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | ( 10 Earnings Per Share Basic and diluted earnings per share (“EPS”) are calculated using the following weighted average share data (in thousands): Three months ended Nine months ended March 31, March 31, 2019 2018 2019 2018 Weighted average shares outstanding for basic calculation 26,705 27,476 26,690 27,469 Dilutive effect of stock options and other share-based awards 46 216 59 256 Weighted average shares outstanding adjusted for dilution calculation 26,751 27,692 26,749 27,725 Dilutive potential common shares consist of stock options and unvested restricted stock awards. As of March 31, 2019 2018, 260,571 197,411 As of March 31, 2019 2018, 269,138 233,596, . |
Note 11 - Accumulated Other Com
Note 11 - Accumulated Other Comprehensive Loss | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | ( 11 Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income consists of foreign currency translation adjustments which are the result of changes in foreign currency exchange rates related to our operations in Canada, Belgium, Honduras, and Mexico, and exclude income taxes given that the earnings of non-U.S. subsidiaries are deemed to be permanently reinvested. The following table sets forth the activity in accumulated other comprehensive loss for the fiscal year-to-date period ended March 31, 2019 ( Balance June 30, 2018 $ (6,171 ) Changes before reclassifications 355 Amounts reclassified from accumulated other comprehensive income - Current period other comprehensive income (loss) 355 Balance March 31, 2019 $ (5,816 ) |
Note 12 - Segment Information
Note 12 - Segment Information | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | ( 12 Segment Information Our wholesale and retail operating segments represent strategic business areas of our vertically integrated enterprise that operate separately and provide their own distinctive services. This vertical structure enables us to offer our complete line of home furnishings and accents more effectively while controlling quality and cost. We evaluate performance of the respective segments based upon net sales and operating income. Inter-segment transactions result, primarily, from the wholesale sale of inventory to the retail segment, including the related profit margin. As of March 31, 2019, 142 161 third 79% nine March 31, 2019. 21%. Segment information for the three nine March 31, 2019 2018 Three months ended Nine months ended March 31, March 31, 2019 2018 2019 2018 Net Sales: Wholesale segment $ 108,367 $ 118,921 $ 334,097 $ 348,473 Retail segment 138,947 136,903 442,669 431,469 Elimination of intercompany sales (69,485 ) (74,405 ) (214,000 ) (218,740 ) Consolidated Total $ 177,829 $ 181,419 $ 562,766 $ 561,202 Operating income: Wholesale segment $ 13,045 $ 7,927 $ 36,181 $ 36,957 Retail segment (1,669 ) (2,896 ) 83 (6,304 ) Elimination of intercompany profit (a) (707 ) (1,158 ) 2,332 2,307 Consolidated Total $ 10,669 $ 3,873 $ 38,596 $ 32,960 Depreciation and Amortization: Wholesale segment $ 1,914 $ 2,002 $ 5,771 $ 5,827 Retail segment 3,010 2,913 9,078 9,128 Consolidated Total $ 4,924 $ 4,915 $ 14,849 $ 14,955 Capital expenditures: Wholesale segment $ 726 $ 1,561 $ 2,407 $ 3,076 Retail segment 1,310 2,579 4,583 6,045 Consolidated Total $ 2,036 $ 4,140 $ 6,990 $ 9,121 March 31, June 30, 2019 2018 Total Assets: Wholesale segment $ 247,343 $ 241,616 Retail segment 311,132 317,590 Inventory profit elimination (b) (25,643 ) (28,773 ) Consolidated Total $ 532,832 $ 530,433 (a) Represents the change in wholesale profit contained in the retail segment inventory at the end of the period. (b) Represents the wholesale profit contained in the retail segment inventory that has not |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | ( 13 Commitments and Contingencies We accrue non-income tax liabilities for contingencies when management believes that a loss is probable, and the amounts can be reasonably estimated, while contingent gains are recognized only when realized. We are routinely party to various legal proceedings, claims and litigation that have arisen in the ordinary course of business, including employment matters, commercial and intellectual property disputes and environmental items. For more information on how we determine whether to accrue for potential losses resulting from litigation, see Note 13 2018 10 may The outcome of all the matters against us is subject to future resolution, including the uncertainties of litigation. Based on information available at March 31, 2019, not |
Note 14 - Subsequent Events
Note 14 - Subsequent Events | 9 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | ( 14 Subsequent Event s We have evaluated subsequent events through the date that the consolidated financial statements were issued. Optimization of Manufacturing and Logistics On April 17, 2019, - Our Old Fort, North Carolina plant will be converted into a state-of-the-art distribution center to support our national distribution structure. - Consolidating approximately half of the case goods manufacturing at our Old Fort plant into our case goods plants in Orleans and Beecher Falls, Vermont, with the balance to be consolidated into our other manufacturing facilities. - Expand our Maiden, North Carolina campus with the addition of 80,000 - Distribution operations at our Passaic, New Jersey facility will be discontinued and subsequently moved to our operations in North Carolina and the art framing operations will be outsourced. |
Note 4 - Revenue Recognition (T
Note 4 - Revenue Recognition (Tables) | 9 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | (Unaudited, amounts in thousands) Wholesale Retail Total Upholstery furniture $ 53,071 $ 62,351 $ 115,422 Case goods furniture 37,575 40,958 78,533 Accents 19,516 30,028 49,544 Other (1,795 ) 5,610 3,815 Total before intercompany eliminations $ 108,367 $ 138,947 247,314 Eliminations (69,485 ) Consolidated Net Sales $ 177,829 (Unaudited, amounts in thousands) Wholesale Retail Total Upholstery furniture $ 162,817 $ 195,667 $ 358,484 Case goods furniture 116,326 131,728 248,054 Accents 58,774 97,644 156,418 Other (3,820 ) 17,630 13,810 Total before intercompany eliminations $ 334,097 $ 442,669 776,766 Eliminations (214,000 ) Consolidated Net Sales $ 562,766 |
Note 5 - Restricted Cash (Table
Note 5 - Restricted Cash (Tables) | 9 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Table Text Block] | March 31, June 30, March 31, June 30, 2019 2018 2018 2017 Cash and cash equivalents $ 25,742 $ 22,363 $ 44,977 $ 57,701 Restricted cash - - 7,086 7,330 Total cash, cash equivalents, and restricted cash $ 25,742 $ 22,363 $ 52,063 $ 65,031 |
Note 6 - Inventories (Tables)
Note 6 - Inventories (Tables) | 9 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | March 31, June 30, 2019 2018 Finished goods $ 126,673 $ 124,640 Work in process 11,965 12,057 Raw materials 27,719 27,947 Valuation allowance (1,732 ) (1,632 ) Inventories $ 164,625 $ 163,012 |
Note 8 - Debt (Tables)
Note 8 - Debt (Tables) | 9 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | March 31, June 30, 2019 2018 Borrowings under revolving credit facility $ 8,000 $ - Capital leases 1,202 1,680 Total debt 9,202 1,680 Less current maturities 544 584 Total long-term debt $ 8,658 $ 1,096 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Periods ending June 30, 2019 (remaining three months) $ 135 2020 550 2021 437 2022 60 2023 20 2024 and thereafter 8,000 Total scheduled debt payments $ 9,202 |
Note 9 - Share-based Compensa_2
Note 9 - Share-based Compensation (Tables) | 9 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Average Options Exercise Price Outstanding at June 30, 2018 561,595 $ 21.70 Granted 25,590 $ 23.45 Exercised (50,250 ) $ 15.89 Canceled (forfeited/expired) (140,364 ) $ 23.03 Outstanding at March 31, 2019 396,571 $ 22.07 Exercisable at March 31, 2019 316,699 $ 20.91 |
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | Weighted Stock Average Unit Grant Date Awards Fair Value Outstanding at June 30, 2018 330,369 $ 26.15 Granted 105,644 18.60 Vested - - Canceled (forfeited/expired) (33,227 ) 23.36 Outstanding at March 31, 2019 402,786 $ 24.40 |
Note 10 - Earnings Per Share (T
Note 10 - Earnings Per Share (Tables) | 9 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended Nine months ended March 31, March 31, 2019 2018 2019 2018 Weighted average shares outstanding for basic calculation 26,705 27,476 26,690 27,469 Dilutive effect of stock options and other share-based awards 46 216 59 256 Weighted average shares outstanding adjusted for dilution calculation 26,751 27,692 26,749 27,725 |
Note 11 - Accumulated Other C_2
Note 11 - Accumulated Other Comprehensive Loss (Tables) | 9 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Balance June 30, 2018 $ (6,171 ) Changes before reclassifications 355 Amounts reclassified from accumulated other comprehensive income - Current period other comprehensive income (loss) 355 Balance March 31, 2019 $ (5,816 ) |
Note 12 - Segment Information (
Note 12 - Segment Information (Tables) | 9 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three months ended Nine months ended March 31, March 31, 2019 2018 2019 2018 Net Sales: Wholesale segment $ 108,367 $ 118,921 $ 334,097 $ 348,473 Retail segment 138,947 136,903 442,669 431,469 Elimination of intercompany sales (69,485 ) (74,405 ) (214,000 ) (218,740 ) Consolidated Total $ 177,829 $ 181,419 $ 562,766 $ 561,202 Operating income: Wholesale segment $ 13,045 $ 7,927 $ 36,181 $ 36,957 Retail segment (1,669 ) (2,896 ) 83 (6,304 ) Elimination of intercompany profit (a) (707 ) (1,158 ) 2,332 2,307 Consolidated Total $ 10,669 $ 3,873 $ 38,596 $ 32,960 Depreciation and Amortization: Wholesale segment $ 1,914 $ 2,002 $ 5,771 $ 5,827 Retail segment 3,010 2,913 9,078 9,128 Consolidated Total $ 4,924 $ 4,915 $ 14,849 $ 14,955 Capital expenditures: Wholesale segment $ 726 $ 1,561 $ 2,407 $ 3,076 Retail segment 1,310 2,579 4,583 6,045 Consolidated Total $ 2,036 $ 4,140 $ 6,990 $ 9,121 March 31, June 30, 2019 2018 Total Assets: Wholesale segment $ 247,343 $ 241,616 Retail segment 311,132 317,590 Inventory profit elimination (b) (25,643 ) (28,773 ) Consolidated Total $ 532,832 $ 530,433 |
Note 4 - Revenue Recognition (D
Note 4 - Revenue Recognition (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | |
Contract with Customer, Liability, Total | $ 62.4 | $ 62.4 | $ 61.2 |
Contract with Customer, Liability, Revenue Recognized | $ 1.4 | $ 59.3 |
Note 4 - Revenue Recognition -
Note 4 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Revenues | $ 177,829 | $ 181,419 | $ 562,766 | $ 561,202 |
Operating Segments [Member] | ||||
Revenues | 247,314 | 776,766 | ||
Consolidation, Eliminations [Member] | ||||
Revenues | (69,485) | (214,000) | ||
Upholstery Furniture [Member] | Operating Segments [Member] | ||||
Revenues | 115,422 | 358,484 | ||
Case Goods Furniture [Member] | Operating Segments [Member] | ||||
Revenues | 78,533 | 248,054 | ||
Accent [Member] | Operating Segments [Member] | ||||
Revenues | 49,544 | 156,418 | ||
Manufactured Product, Other [Member] | Operating Segments [Member] | ||||
Revenues | 3,815 | 13,810 | ||
Wholesale Segment [Member] | Operating Segments [Member] | ||||
Revenues | 108,367 | 118,921 | 334,097 | 348,473 |
Wholesale Segment [Member] | Upholstery Furniture [Member] | Operating Segments [Member] | ||||
Revenues | 53,071 | 162,817 | ||
Wholesale Segment [Member] | Case Goods Furniture [Member] | Operating Segments [Member] | ||||
Revenues | 37,575 | 116,326 | ||
Wholesale Segment [Member] | Accent [Member] | Operating Segments [Member] | ||||
Revenues | 19,516 | 58,774 | ||
Wholesale Segment [Member] | Manufactured Product, Other [Member] | Operating Segments [Member] | ||||
Revenues | (3,820) | |||
Revenues | (1,795) | |||
Retail Segment [Member] | Operating Segments [Member] | ||||
Revenues | 138,947 | $ 136,903 | 442,669 | $ 431,469 |
Retail Segment [Member] | Upholstery Furniture [Member] | Operating Segments [Member] | ||||
Revenues | 62,351 | 195,667 | ||
Retail Segment [Member] | Case Goods Furniture [Member] | Operating Segments [Member] | ||||
Revenues | 40,958 | 131,728 | ||
Retail Segment [Member] | Accent [Member] | Operating Segments [Member] | ||||
Revenues | 30,028 | 97,644 | ||
Retail Segment [Member] | Manufactured Product, Other [Member] | Operating Segments [Member] | ||||
Revenues | $ 5,610 | $ 17,630 |
Note 5 - Restricted Cash (Detai
Note 5 - Restricted Cash (Details Textual) $ in Millions | Jun. 30, 2018USD ($) |
Letter of Credit Issued for Workers Compensation Obligation [Member] | |
Letters of Credit Outstanding, Amount | $ 5.9 |
Note 5 - Restricted Cash - Tota
Note 5 - Restricted Cash - Total Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 |
Cash and cash equivalents | $ 25,742 | $ 22,363 | $ 44,977 | $ 57,701 |
Restricted cash | 7,086 | 7,330 | ||
Total cash, cash equivalents, and restricted cash | $ 25,742 | $ 22,363 | $ 52,063 | $ 65,031 |
Note 6 - Inventories - Schedule
Note 6 - Inventories - Schedule of Inventory (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Jun. 30, 2018 |
Finished goods | $ 126,673 | $ 124,640 |
Work in process | 11,965 | 12,057 |
Raw materials | 27,719 | 27,947 |
Valuation allowance | (1,732) | (1,632) |
Inventories | $ 164,625 | $ 163,012 |
Note 7 - Income Taxes (Details
Note 7 - Income Taxes (Details Textual) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 28.00% | |||||
Effective Income Tax Rate Reconciliation, Percent, Total | 24.80% | 31.20% | 25.00% | 24.40% | ||
Forecast [Member] | ||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | |||||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||||||
Income Tax Examination, Year under Examination | 2016 |
Note 8 - Debt (Details Textual)
Note 8 - Debt (Details Textual) $ in Thousands | Dec. 21, 2018USD ($) | Jan. 31, 2019USD ($) | Mar. 31, 2019USD ($) | Mar. 31, 2019USD ($) | Mar. 31, 2018USD ($) | Jun. 30, 2018USD ($) |
Proceeds from Long-term Lines of Credit | $ 16,000 | |||||
Long-term Line of Credit, Total | $ 8,000 | 8,000 | ||||
Revolving Credit Facility [Member] | The Facility [Member] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 165,000 | |||||
Debt Issuance Costs, Net, Total | 600 | |||||
Proceeds from Long-term Lines of Credit | $ 16,000 | |||||
Repayments of Lines of Credit | 8,000 | |||||
Long-term Line of Credit, Total | 8,000 | 8,000 | ||||
Interest Expense, Debt, Total | 100 | |||||
Debt Covenant, Fixed Charge Coverage Ratio, Maximum Unused Availability | $ 18,500 | |||||
Debt Instrument, Covenant, Minimum Fixed Charge Coverage Ratio | 1 | |||||
Line of Credit Facility, Remaining Borrowing Capacity | 150,800 | $ 150,800 | 108,800 | |||
Revolving Credit Facility [Member] | The Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | 1.50% | ||||
One Month LIBOR Rate | 2.50% | |||||
Revolving Credit Facility [Member] | The Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 1.50% | |||||
Revolving Credit Facility [Member] | The Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | |||||
Revolving Credit Facility [Member] | The Facility [Member] | Fed Funds Effective Rate Overnight Index Swap Rate [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | |||||
Revolving Credit Facility [Member] | The Facility [Member] | Additional Margin on Variable Rate Option [Member] | Minimum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | |||||
Revolving Credit Facility [Member] | The Facility [Member] | Additional Margin on Variable Rate Option [Member] | Maximum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | |||||
Standby Letters of Credit [Member] | The Facility [Member] | ||||||
Letters of Credit Outstanding, Amount | $ 6,200 | $ 6,200 | $ 6,200 |
Note 8 - Debt - Total Debt Obli
Note 8 - Debt - Total Debt Obligations (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Jun. 30, 2018 |
Long-term Line of Credit, Total | $ 8,000 | |
Capital leases | 1,202 | 1,680 |
Total debt | 9,202 | 1,680 |
Less current maturities | 544 | 584 |
Total long-term debt | $ 8,658 | $ 1,096 |
Note 8 - Debt - Aggregate Sched
Note 8 - Debt - Aggregate Scheduled Maturities of Debt (Details) $ in Thousands | Mar. 31, 2019USD ($) |
2019 (remaining three months) | $ 135 |
2020 | 550 |
2021 | 437 |
2022 | 60 |
2023 | 20 |
2024 and thereafter | 8,000 |
Total scheduled debt payments | $ 9,202 |
Note 9 - Share-based Compensa_3
Note 9 - Share-based Compensation (Details Textual) | 9 Months Ended |
Mar. 31, 2019shares | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Contractual Term | 10 years |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,489,996 |
Restricted Stock [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 |
Note 9 - Share-based Compensa_4
Note 9 - Share-based Compensation - Stock Options, Activity (Details) | 9 Months Ended |
Mar. 31, 2019$ / sharesshares | |
Outstanding, options (in shares) | shares | 561,595 |
Outstanding, Weighted average exercise price (in dollars per share) | $ / shares | $ 21.70 |
Granted, options (in shares) | shares | 25,590 |
Granted, Weighted average exercise price (in dollars per share) | $ / shares | $ 23.45 |
Exercised, options (in shares) | shares | (50,250) |
Exercised, Weighted average exercise price (in dollars per share) | $ / shares | $ 15.89 |
Canceled (forfeited/expired), options (in shares) | shares | (140,364) |
Canceled (forfeited/expired), Weighted average exercise price (in dollars per share) | $ / shares | $ 23.03 |
Outstanding, options (in shares) | shares | 396,571 |
Outstanding, Weighted average exercise price (in dollars per share) | $ / shares | $ 22.07 |
Exercisable, options (in shares) | shares | 316,699 |
Exercisable, Weighted average exercise price (in dollars per share) | $ / shares | $ 20.91 |
Note 9 - Share-based Compensa_5
Note 9 - Share-based Compensation - Restricted Stock and Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) [Member] | 9 Months Ended |
Mar. 31, 2019$ / sharesshares | |
Outstanding, Stock unit awards (in shares) | shares | 330,369 |
Outstanding, Weighted average grant date fair value (in dollars per share) | $ / shares | $ 26.15 |
Granted, Stock unit awards (in shares) | shares | 105,644 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 18.60 |
Vested, Stock unit awards (in shares) | shares | |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | |
Canceled (forfeited/expired), Stock unit awards (in shares) | shares | (33,227) |
Canceled (forfeited/expired), weighted average grant date fair value (in dollars per share) | $ / shares | $ 23.36 |
Outstanding, Stock unit awards (in shares) | shares | 402,786 |
Outstanding, Weighted average grant date fair value (in dollars per share) | $ / shares | $ 24.40 |
Note 10 - Earnings Per Share (D
Note 10 - Earnings Per Share (Details Textual) - shares | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Stock Options And Restricted Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 260,571 | 197,411 |
Performance Shares [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 269,138 | 233,596 |
Note 10 - Earnings Per Share -
Note 10 - Earnings Per Share - Calculation of Weighted Average Shares (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Weighted average shares outstanding for basic calculation (in shares) | 26,705 | 27,476 | 26,690 | 27,469 |
Dilutive effect of stock options and other share-based awards (in shares) | 46 | 216 | 59 | 256 |
Weighted average shares outstanding adjusted for dilution calculation (in shares) | 26,751 | 27,692 | 26,749 | 27,725 |
Note 11 - Accumulated Other C_3
Note 11 - Accumulated Other Comprehensive Loss - Activity in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Mar. 31, 2019 | Mar. 31, 2018 | |
Balance | $ 369,665 | $ 389,987 | $ 383,870 | $ 402,694 | $ 402,272 | $ 400,896 | $ 383,870 | $ 400,896 |
Other comprehensive income (loss) net of tax | 283 | (1,214) | 1,221 | 1,444 | (1,410) | (144) | 290 | (110) |
Balance | 373,049 | $ 369,665 | 389,987 | $ 401,399 | $ 402,694 | $ 402,272 | 373,049 | $ 401,399 |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | ||||||||
Balance | $ (6,171) | (6,171) | ||||||
Changes before reclassifications | 355 | |||||||
Amounts reclassified from accumulated other comprehensive income | 0 | |||||||
Other comprehensive income (loss) net of tax | 355 | |||||||
Balance | $ (5,816) | $ (5,816) |
Note 12 - Segment Information_2
Note 12 - Segment Information (Details Textual) | 9 Months Ended |
Mar. 31, 2019 | |
Number of Company Operated Design Centers | 142 |
Number of Independently Operated Design Centers | 161 |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Retail Segment [Member] | |
Concentration Risk, Percentage | 79.00% |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Wholesale Segment [Member] | |
Concentration Risk, Percentage | 21.00% |
Note 12 - Segment Information -
Note 12 - Segment Information - Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | Jun. 30, 2018 | ||
Net sales | $ 177,829 | $ 181,419 | $ 562,766 | $ 561,202 | ||
Operating Income | 10,669 | 3,873 | 38,596 | 32,960 | ||
Depreciation and amortization | 4,924 | 4,915 | 14,849 | 14,955 | ||
Capital Expenditures | 2,036 | 4,140 | 6,990 | 9,121 | ||
Assets | 532,832 | 532,832 | $ 530,433 | |||
Operating Segments [Member] | ||||||
Net sales | 247,314 | 776,766 | ||||
Intersegment Eliminations [Member] | ||||||
Net sales | (69,485) | (74,405) | (214,000) | (218,740) | ||
Operating Income | [1] | (707) | (1,158) | 2,332 | 2,307 | |
Wholesale Segment [Member] | ||||||
Depreciation and amortization | 1,914 | 2,002 | 5,771 | 5,827 | ||
Capital Expenditures | 726 | 1,561 | 2,407 | 3,076 | ||
Assets | 247,343 | 247,343 | 241,616 | |||
Wholesale Segment [Member] | Operating Segments [Member] | ||||||
Net sales | 108,367 | 118,921 | 334,097 | 348,473 | ||
Operating Income | 13,045 | 7,927 | 36,181 | 36,957 | ||
Retail Segment [Member] | ||||||
Depreciation and amortization | 3,010 | 2,913 | 9,078 | 9,128 | ||
Capital Expenditures | 1,310 | 2,579 | 4,583 | 6,045 | ||
Assets | 311,132 | 311,132 | 317,590 | |||
Retail Segment [Member] | Operating Segments [Member] | ||||||
Net sales | 138,947 | 136,903 | 442,669 | 431,469 | ||
Operating Income | (1,669) | $ (2,896) | 83 | $ (6,304) | ||
Inventory Profit Elimination [Member] | ||||||
Assets | [2] | $ (25,643) | $ (25,643) | $ (28,773) | ||
[1] | Represents the change in wholesale profit contained in the retail segment inventory at the end of the period. | |||||
[2] | Represents the wholesale profit contained in the retail segment inventory that has not yet been realized. These profits are realized when the related inventory is sold. |