MasterCraft Boat (MCFT) 10-Q 8 May 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2024	May 03, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Registrant Name	MASTERCRAFT BOAT HOLDINGS, INC.
Entity Central Index Key	0001638290
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		16,981,048
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock
Trading Symbol	MCFT
Security Exchange Name	NASDAQ
Entity File Number	001-37502
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	06-1571747
Entity Address, Address Line One	100 Cherokee Cove Drive
Entity Address, City or Town	Vonore
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37885
City Area Code	423
Local Phone Number	884-2221
Document Quarterly Report	true
Document Transition Report	false

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Mar. 31, 2024	Apr. 02, 2023
Income Statement [Abstract]
NET SALES	$ 95,708	$ 166,776	$ 299,406	$ 495,480
COST OF SALES	77,360	124,178	240,493	368,682
GROSS PROFIT	18,348	42,598	58,913	126,798
OPERATING EXPENSES:
Selling and marketing	3,924	3,927	10,538	10,748
General and administrative	9,978	9,156	27,446	26,874
Amortization of other intangible assets	450	489	1,362	1,467
Total operating expenses	14,352	13,572	39,346	39,089
OPERATING INCOME	3,996	29,026	19,567	87,709
OTHER INCOME (EXPENSE):
Interest expense	(762)	(695)	(2,494)	(1,923)
Interest income	1,398	1,195	4,164	1,967
INCOME BEFORE INCOME TAX EXPENSE	4,632	29,526	21,237	87,753
INCOME TAX EXPENSE	806	6,744	4,408	20,353
Net income from continuing operations	3,826	22,782	16,829	67,400
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX (Note 3)	(71)	(272)	(993)	(21,139)
NET INCOME	$ 3,755	$ 22,510	$ 15,836	$ 46,261
Basic
Continuing operations	$ 0.23	$ 1.3	$ 0.99	$ 3.8
Discontinued operations	(0.01)	(0.02)	(0.06)	(1.19)
Net income	0.22	1.28	0.93	2.61
Diluted
Continuing operations	0.23	1.28	0.98	3.78
Discontinued operations	(0.01)	(0.01)	(0.05)	(1.19)
Net income	$ 0.22	$ 1.27	$ 0.93	$ 2.59
WEIGHTED AVERAGE SHARES USED FOR COMPUTATION OF:
Basic earnings per share	16,844,440	17,559,920	17,003,616	17,725,208
Diluted earnings per share	16,965,624	17,748,910	17,093,958	17,851,655

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 22,509	$ 19,817
Held-to-maturity securities (Note 4)	83,183	91,560
Accounts receivable, net of allowance of $96 and $122, respectively	13,473	15,741
Inventories, net (Note 5)	41,432	58,298
Prepaid expenses and other current assets	14,414	10,083
Total current assets	175,011	195,499
Property, plant and equipment, net (Note 6)	79,593	77,921
Goodwill (Note 7)	28,493	28,493
Other intangible assets, net (Note 7)	34,100	35,462
Deferred income taxes	14,377	12,428
Deferred debt issuance costs, net	306	304
Other long-term assets	9,002	3,869
Total assets	340,882	353,976
CURRENT LIABILITIES:
Accounts payable	15,216	20,391
Income tax payable	1,022	5,272
Accrued expenses and other current liabilities (Note 8)	66,164	72,496
Current portion of long-term debt, net of unamortized debt issuance costs (Note 10)	4,371	4,381
Total current liabilities	86,773	102,540
Long-term debt, net of unamortized debt issuance costs (Note 10)	45,982	49,295
Unrecognized tax positions	8,174	7,350
Other long-term liabilities	2,855	2,702
Total liabilities	143,784	161,887
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Common stock, $.01 par value per share authorized 100,000,000 shares issued and outstanding 17,018,448 shares at March 31, 2024 and 17,312,850 shares at June 30 2023	170	173
Additional paid-in capital	65,072	75,976
Retained earnings	131,656	115,820
MasterCraft Boat Holdings, Inc. equity	196,898	191,969
Noncontrolling interest	200	120
Total equity	197,098	192,089	$ 143,648
Total liabilities and stockholders' equity	$ 340,882	$ 353,976

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 96	$ 122
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	100,000,000	100,000,000
Common stock, issued shares	17,018,448	17,312,850
Common stock, outstanding shares	17,018,448	17,312,850

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained earning	Non controlling Interest	MasterCraft Boat Holdings, Inc.
Balance, beginning at Jun. 30, 2022		$ 181	$ 96,584	$ 46,883	$ 0	$ 143,648
Balance, beginning (in shares) at Jun. 30, 2022		18,061,437
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Jun. 30, 2022	$ 143,648
Share-based compensation activity	650	$ 1	649			650
Share-based compensation activity (shares)		128,040
Repurchase and retirement of common stock	(4,178)	$ (2)	(4,176)			(4,178)
Repurchase and retirement of common stock (shares)		(191,360)
Net Income (Loss)	4,068			4,068		4,068
Balance, ending at Oct. 02, 2022		$ 180	93,057	50,951	0	144,188
Balance, ending (in shares) at Oct. 02, 2022		17,998,117
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Oct. 02, 2022	144,188
Balance, beginning at Jun. 30, 2022		$ 181	96,584	46,883	0	143,648
Balance, beginning (in shares) at Jun. 30, 2022		18,061,437
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Jun. 30, 2022	143,648
Repurchase and retirement of common stock (shares)		(625,794)
Net Income (Loss)	46,261
Balance, ending at Apr. 02, 2023		$ 176	82,827	93,144	0	176,147
Balance, ending (in shares) at Apr. 02, 2023		17,571,882
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Apr. 02, 2023	176,147
Balance, beginning at Oct. 02, 2022		$ 180	93,057	50,951	0	144,188
Balance, beginning (in shares) at Oct. 02, 2022		17,998,117
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Oct. 02, 2022	144,188
Share-based compensation activity	745		745			745
Share-based compensation activity (shares)		2,466
Repurchase and retirement of common stock	(4,794)	$ (2)	(4,792)			(4,794)
Repurchase and retirement of common stock (shares)		(224,284)
Net Income (Loss)	19,683			19,683		19,683
Balance, ending at Jan. 01, 2023		$ 178	89,010	70,634	0	159,822
Balance, ending (in shares) at Jan. 01, 2023		17,776,299
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jan. 01, 2023	159,822
Share-based compensation activity	883		883			883
Share-based compensation activity (shares)		5,733
Repurchase and retirement of common stock	(7,068)	$ (2)	(7,066)			(7,068)
Repurchase and retirement of common stock (shares)		(210,150)
Net Income (Loss)	22,510			22,510		22,510
Balance, ending at Apr. 02, 2023		$ 176	82,827	93,144	0	176,147
Balance, ending (in shares) at Apr. 02, 2023		17,571,882
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Apr. 02, 2023	176,147
Balance, beginning at Jun. 30, 2023	191,969	$ 173	75,976	115,820	120	191,969
Balance, beginning (in shares) at Jun. 30, 2023		17,312,850
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Jun. 30, 2023	192,089
Share-based compensation activity	(683)		(683)			(683)
Share-based compensation activity (shares)		185,055
Repurchase and retirement of common stock	(5,785)	$ (2)	(5,783)			(5,785)
Repurchase and retirement of common stock (shares)		(241,764)
Capital contribution from noncontrolling interest	80				80
Net Income (Loss)	6,195			6,195		6,195
Balance, ending at Oct. 01, 2023		$ 171	69,510	122,015	200	191,696
Balance, ending (in shares) at Oct. 01, 2023		17,256,141
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Oct. 01, 2023	191,896
Balance, beginning at Jun. 30, 2023	191,969	$ 173	75,976	115,820	120	191,969
Balance, beginning (in shares) at Jun. 30, 2023		17,312,850
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Jun. 30, 2023	192,089
Repurchase and retirement of common stock (shares)		(529,545)
Net Income (Loss)	15,836
Balance, ending at Mar. 31, 2024	196,898	$ 170	65,072	131,656	200	196,898
Balance, ending (in shares) at Mar. 31, 2024		17,018,448
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Mar. 31, 2024	197,098
Balance, beginning at Oct. 01, 2023		$ 171	69,510	122,015	200	191,696
Balance, beginning (in shares) at Oct. 01, 2023		17,256,141
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Oct. 01, 2023	191,896
Share-based compensation activity	9	$ 1	8			9
Share-based compensation activity (shares)		(8,117)
Repurchase and retirement of common stock	(4,460)	$ (2)	(4,458)			(4,460)
Repurchase and retirement of common stock (shares)		(214,219)
Net Income (Loss)	5,886			5,886		5,886
Balance, ending at Dec. 31, 2023		$ 170	65,060	127,901	200	193,131
Balance, ending (in shares) at Dec. 31, 2023		17,033,805
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Dec. 31, 2023	193,331
Share-based compensation activity	1,583	$ 1	1,582			1,583
Share-based compensation activity (shares)		58,205
Repurchase and retirement of common stock	(1,571)	$ (1)	(1,570)			(1,571)
Repurchase and retirement of common stock (shares)		(73,562)
Net Income (Loss)	3,755			3,755		3,755
Balance, ending at Mar. 31, 2024	196,898	$ 170	$ 65,072	$ 131,656	$ 200	$ 196,898
Balance, ending (in shares) at Mar. 31, 2024		17,018,448
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Mar. 31, 2024	$ 197,098

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss)	$ 15,836	$ 46,261
Loss from discontinued operations, net of tax	993	21,139
Net income from continuing operations	16,829	67,400
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:
Depreciation and amortization	8,327	7,833
Share-based compensation	2,531	2,892
Unrecognized tax benefits	824	111
Deferred income taxes	(1,949)	7,194
Amortization of debt issuance costs	192	172
Changes in certain operating assets and liabilities	(1,737)	21,610
Other, net	(2,094)	153
Net cash provided by operating activities of continuing operations	22,923	107,365
Net cash used in operating activities of discontinued operations	(603)	(2,403)
Net cash provided by operating activities	22,320	104,962
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(12,622)	(18,871)
Purchases of investments	(120,277)	(83,509)
Maturities of investments	130,053	10,000
Other, net	5	0
Net cash used in investing activities of continuing operations	(2,841)	(92,380)
Net cash used in investing activities of discontinued operations	0	(501)
Net cash used in investing activities	(2,841)	(92,881)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on long-term debt	(3,375)	(2,250)
Repurchase and retirement of common stock	(11,728)	(15,972)
Other, net	(1,684)	(609)
Net cash used in financing activities of continuing operations	(16,787)	(18,831)
NET CHANGE IN CASH AND CASH EQUIVALENTS	2,692	(6,750)
CASH AND CASH EQUIVALENTS — BEGINNING OF PERIOD	19,817	34,203
CASH AND CASH EQUIVALENTS — END OF PERIOD	22,509	27,453
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash payments for interest	2,259	1,773
Cash payments for income taxes	9,684	6,209
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Activity related to sales-type lease	3,898	0
Capital expenditures in accounts payable and accrued expenses	$ 908	$ 2,855

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	1. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation — The Company’s fiscal year begins July 1 and ends June 30, with the interim quarterly reporting periods consisting of 13 weeks. Therefore, the fiscal quarter end will not always coincide with the date of the end of a calendar month. The accompanying unaudited condensed consolidated financial statements include the accounts of MasterCraft Boat Holdings, Inc. ("Holdings") and its wholly owned subsidiaries. Holdings and its subsidiaries collectively are referred to herein as the "Company." The unaudited condensed consolidated financial statements have been prepared on the same basis as the Company’s audited consolidated financial statements for the year ended June 30, 2023, and, in the opinion of management, reflect all adjustments considered necessary to present fairly the Company’s financial position as of March 31, 2024, its results of operations for the three and nine months ended March 31, 2024 and April 2, 2023, its cash flows for the nine months ended March 31, 2024 and April 2, 2023, and its statements of equity for the three and nine months ended March 31, 2024 and April 2, 2023. All adjustments are of a normal, recurring nature. Certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the applicable rules and regulations of the SEC for financial information have been condensed or omitted pursuant to such rules and regulations. The June 30, 2023 condensed consolidated balance sheet data was derived from the audited financial statements but does not include all disclosures required by U.S. GAAP for complete financial statements. However, management believes that the disclosures in these condensed consolidated financial statements are adequate to make the information presented not misleading. These condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and notes thereto included in our 2023 Annual Report on Form 10-K. Due to the seasonality of the Company’s business, the interim results are not necessarily indicative of the results that may be expected for the remainder of the fiscal year. There were no significant changes in, or changes to, the application of the Company’s significant or critical accounting policies or estimation procedures for the three and nine months ended March 31, 2024, as compared with those described in the Company’s audited consolidated financial statements for the fiscal year ended June 30, 2023 . Investment in Sales-Type Lease — On July 1, 2023, the Company became a lessor in a sales-type lease arrangement consisting of land valued at $ 3.9 million. In accordance with Accounting Standards Codification (“ASC”) 842, Leases, the underlying land was derecognized as Property, plant and equipment and a sales-type lease was recognized as a net investment in a lease. The net investment balances are represented as lease receivable and unguaranteed residual asset amounts on the balance sheet within other current assets and other long-term assets. The interest earned on the net investment will be recognized as interest income. New Accounting Pronouncements Segment Reporting ASU No. 2023-07, Improvements to Reportable Segment Disclosures, requires incremental disclosures about an entity’s reportable segments but does not change the definition of a segment or the guidance for determining reportable segments. The new guidance requires disclosure of significant segment expenses that are (1) regularly provided to (or easily computed from information regularly provided to) the chief operating decision maker and (2) included in the reported measure of segment profit or loss. The new standard also allows companies to disclose multiple measures of segment profit or loss if those measures are used to assess performance and allocate resources. This update is effective for fiscal years beginning after December 31, 2023, or fiscal 2025 for the Company, and should be adopted retrospectively unless impracticable. The Company is currently evaluating the impact, if any, that the adoption of this standard will have on financial disclosures. Income Taxes Accounting Standard Update ("ASU") No. 2023-09, Improvements to Income Tax Disclosures, requires entities to disclose in their rate reconciliation table additional categories of information about federal, state and foreign income taxes and provide more details about the reconciling items in some categories if items meet a quantitative threshold. Entities would have to provide qualitative disclosures about the new categories. The guidance will require all entities to disclose income taxes paid, net of refunds, disaggregated by federal (national), state and foreign taxes for annual periods and to disaggregate the information by jurisdiction based on a quantitative threshold. The guidance makes several other changes to the disclosure requirements. Entities are required to apply the guidance prospectively, with the option to apply it retrospectively. The guidance is effective for annual periods beginning after December 15, 2024, or fiscal 2026 for the Company. The Company is currently evaluating the impact, if any, that the adoption of this standard will have on financial disclosures.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Oct. 01, 2023	Apr. 02, 2023	Jan. 01, 2023	Oct. 02, 2022	Mar. 31, 2024	Apr. 02, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 3,755	$ 5,886	$ 6,195	$ 22,510	$ 19,683	$ 4,068	$ 15,836	$ 46,261

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non-Rule 10b5-1 Arrangement Modified	false

REVENUE RECOGNITION

REVENUE RECOGNITION	9 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	2. REVENUE RECOGNITION The following tables present the Company's revenue by major product category for each reportable segment: Three Months Ended March 31, 2024 MasterCraft Crest Aviara Total Major Product Categories: Boats and trailers $ 66,961 $ 13,769 $ 11,731 $ 92,461 Parts 2,443 292 — 2,735 Other revenue 379 133 — 512 Total $ 69,783 $ 14,194 $ 11,731 $ 95,708 Nine Months Ended March 31, 2024 MasterCraft Crest Aviara Total Major Product Categories: Boats and trailers $ 207,160 $ 48,584 $ 31,374 $ 287,118 Parts 9,574 770 — 10,344 Other revenue 1,585 359 — 1,944 Total $ 218,319 $ 49,713 $ 31,374 $ 299,406 Three Months Ended April 2, 2023 MasterCraft Crest Aviara Total Major Product Categories: Boats and trailers $ 114,514 $ 35,936 $ 12,777 $ 163,227 Parts 2,798 285 — 3,083 Other revenue 318 148 — 466 Total $ 117,630 $ 36,369 $ 12,777 $ 166,776 Nine Months Ended April 2, 2023 MasterCraft Crest Aviara Total Major Product Categories: Boats and trailers $ 328,254 $ 115,444 $ 39,570 $ 483,268 Parts 9,693 671 — 10,364 Other revenue 1,368 480 — 1,848 Total $ 339,315 $ 116,595 $ 39,570 $ 495,480 Contract Liabilities As of June 30, 2023, the Company had $ 3.3 million of contract liabilities associated with customer deposits and services. During the nine months ended March 31, 2024 , $ 1.4 million was recognized as revenue. As of March 31, 2024 , total contract liabilities associated with customer deposits and services of $ 3.5 million were reported in Accrued expenses and other current liabilities and Other long-term liabilities on the condensed consolidated balance sheet, and $ 0.6 million is expected to be recognized as revenue during the remainder of the year ending June 30, 2024 .

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	9 Months Ended
	Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	3. DISCONTINUED OPERATIONS On September 2, 2022, the Company sold its NauticStar business to certain affiliates of Iconic Marine Group, LLC ("Purchaser"). Pursuant to the terms of the purchase agreement, substantially all of the assets of NauticStar were sold, including, among other things, all of the issued and outstanding membership interests in its wholly-owned subsidiary NS Transport, LLC, all owned real property, equipment, inventory, intellectual property and accounts receivable, and the Purchaser assumed substantially all of the liabilities of NauticStar, including, among other things, product liability and warranty claims. During the nine months ended April 2, 2023 , the Company recognized a $ 22.5 million loss on sale. The final settlement of the purchase price was subject to customary working capital adjustments that had been in arbitration, but were settled in October 2023 without a significant impact to the loss on sale previously recorded. The agreed upon settlement will be received in installment payments through July 2025. The value of the assets and liabilities that were retained at the time of sale, which are primarily related to certain claims, are subject to change. Certain of these claims have been settled or are expected to settle for higher amounts than previously estimated, with the related activity being recorded as discontinued operations. The following table summarizes the operating results of discontinued operations for the following periods: Nine Months Ended March 31, April 2, 2024 2023 NET SALES 37 $ 7,767 COST OF SALES 257 9,732 GROSS LOSS ( 220 ) ( 1,965 ) OPERATING EXPENSES: Selling, general and administrative 1,237 2,639 Total operating expenses 1,237 2,639 OPERATING LOSS ( 1,457 ) ( 4,604 ) Gain (loss) on sale of discontinued operations 157 ( 22,487 ) LOSS BEFORE INCOME TAX BENEFIT ( 1,300 ) ( 27,091 ) INCOME TAX BENEFIT 307 5,952 LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX ( 993 ) $ ( 21,139 ) The operating results, and components thereof, of discontinued operations for the three months ended March 31, 2024 and April 2, 2023 were not significant.

HELD-TO-MATURITY SECURITIES

HELD-TO-MATURITY SECURITIES	9 Months Ended
	Mar. 31, 2024
Investments Disclosure [Abstract]
HELD-TO-MATURITY SECURITIES	The amortized cost and net carrying amount, gross unrealized gains and losses, and estimated fair value of our investments classified as held-to-maturity at March 31, 2024 and June 30, 2023 are summarized as follows: March 31, 2024 Amortized Gross Gross Estimated Cost / Net Unrealized Unrealized Fair Carrying Amount Gains Losses Value Held-to-maturity securities: Fixed income securities: Corporate bonds $ 83,183 $ 6 $ ( 48 ) $ 83,141 Total held-to-maturity securities $ 83,183 $ 6 $ ( 48 ) $ 83,141 June 30, 2023 Amortized Gross Gross Estimated Cost / Net Unrealized Unrealized Fair Carrying Amount Gains Losses Value Held-to-maturity securities: Fixed income securities: Corporate bonds $ 81,743 $ 1 $ ( 160 ) $ 81,584 U.S. treasury bills 9,817 31 ( 1 ) 9,847 Total held-to-maturity securities $ 91,560 $ 32 $ ( 161 ) $ 91,431

INVENTORIES

INVENTORIES	9 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
INVENTORIES	5. INVENTORIES Inventories consisted of the following: March 31, June 30, 2024 2023 Raw materials and supplies $ 27,262 $ 40,201 Work in process 9,418 9,465 Finished goods 6,395 10,335 Obsolescence reserve ( 1,643 ) ( 1,703 ) Total inventories $ 41,432 $ 58,298

PROPERTY, PLANT, AND EQUIPMENT

PROPERTY, PLANT, AND EQUIPMENT	9 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	6. PROPERTY, PLANT, AND EQUIPMENT Property, plant, and equipment, net consisted of the following: March 31, June 30, 2024 2023 Land and improvements $ 7,587 $ 10,456 Buildings and improvements 51,848 46,759 Machinery and equipment 42,309 40,632 Furniture and fixtures 5,620 5,284 Construction in progress 12,717 10,180 Total property, plant, and equipment 120,081 113,311 Less accumulated depreciation ( 40,488 ) ( 35,390 ) Property, plant, and equipment — net 79,593 $ 77,921

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	9 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	7. GOODWILL AND OTHER INTANGIBLE ASSETS The following table presents the carrying amounts of goodwill as of March 31, 2024 and June 30, 2023 for each of the Company's reportable segments. Gross Amount Accumulated Impairment Losses Total MasterCraft $ 28,493 $ — $ 28,493 Crest 36,238 ( 36,238 ) — Aviara 1,100 ( 1,100 ) — Total $ 65,831 $ ( 37,338 ) $ 28,493 The following table presents the carrying amounts of Other intangible assets, net: March 31, June 30, 2024 2023 Gross Amount Accumulated Amortization / Impairment Other intangible assets, net Gross Amount Accumulated Amortization / Impairment Other intangible assets, net Amortized intangible assets Dealer networks $ 19,500 $ ( 11,400 ) $ 8,100 $ 19,500 $ ( 10,050 ) $ 9,450 Software 245 ( 245 ) — 245 ( 233 ) 12 19,745 ( 11,645 ) 8,100 19,745 ( 10,283 ) 9,462 Unamortized intangible assets Trade names 33,000 ( 7,000 ) 26,000 33,000 ( 7,000 ) 26,000 Total other intangible assets $ 52,745 $ ( 18,645 ) $ 34,100 $ 52,745 $ ( 17,283 ) $ 35,462 Amortization expense related to Other intangible assets, net for each of the three months ended March 31, 2024 and April 2, 2023 , was $ 0.5 million and for the nine months ended March 31, 2024 and April 2, 2023 , was $ 1.4 million and $ 1.5 million, respectively. Estimated amortization expense for the fiscal year ending June 30, 2024 is $ 1.8 million.

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	9 Months Ended
	Mar. 31, 2024
Accrued Liabilities and Other Liabilities [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	8. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consisted of the following: March 31, June 30, 2024 2023 Warranty $ 30,861 $ 31,780 Dealer incentives 21,452 24,987 Compensation and related accruals 4,367 5,838 Inventory repurchase contingent obligation 2,212 1,515 Contract liabilities 1,423 1,477 Self-insurance 1,357 1,586 Liabilities retained associated with discontinued operations 786 690 Other 3,706 4,623 Total accrued expenses and other current liabilities $ 66,164 $ 72,496 Accrued warranty liability activity was as follows for the nine months ended: March 31, April 2, 2024 2023 Balance at the beginning of the period $ 31,780 $ 25,824 Provisions 6,438 10,766 Payments made ( 10,557 ) ( 9,069 ) Changes for pre-existing warranties 3,200 3,131 Balance at the end of the period $ 30,861 $ 30,652

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	9. COMMITMENTS AND CONTINGENCIES Legal Proceedings The Company is subject to various litigation, claims and proceedings, which have arisen in the ordinary course of business. The Company accrues for litigation, claims and proceedings when a liability is both probable and the amount can be reasonably estimated. The Company’s accruals for litigation matters are not material. While these matters are subject to inherent uncertainties, management believes that current litigation, claims and proceedings, individually and in aggregate, and after considering expected insurance reimbursements and other contract indemnifications, are not likely to have a material adverse impact on the Company’s financial position, results of operations or cash flows.

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
LONG-TERM DEBT	10. LONG-TERM DEBT Long-term debt is as follows: March 31, June 30, 2024 2023 Term loan $ 50,625 $ 54,000 Debt issuance costs on term loan ( 272 ) ( 324 ) Total debt 50,353 53,676 Less current portion of long-term debt 4,500 4,500 Less current portion of debt issuance costs on term loan ( 129 ) ( 119 ) Long-term debt, net of current portion $ 45,982 $ 49,295 The Company has a credit agreement with a syndicate of certain financial institutions (the "Credit Agreement") that provides the Company with a $ 160.0 million senior secured credit facility, consisting of a $ 60.0 million term loan (the "Term Loan") and a $ 100.0 million revolving credit facility (the "Revolving Credit Facility"). The Credit Agreement is secured by a first priority security interest in substantially all of the Company's assets. The Credit Agreement contains a number of covenants that, among other things, restrict the Company’s ability to, subject to specified exceptions, incur additional debt; incur additional liens and contingent liabilities; sell or dispose of assets; merge with or acquire other companies; liquidate or dissolve; engage in businesses that are not in a related line of business; make loans, advances or guarantees; pay dividends or make other distributions; engage in transactions with affiliates; and make investments. The Company is also required to maintain a minimum fixed charge coverage ratio and a maximum net leverage ratio. On August 31, 2022, the Company entered into the Second Amendment to the Credit Agreement to obtain the necessary consents and waivers related to the sale of the NauticStar segment on September 2, 2022, as discussed in Note 3. On October 4, 2023, the Company entered into the Third Amendment to the Credit Agreement to exclude certain amounts of stock repurchases during the fiscal year ending June 30, 2024 from the calculation of the minimum required fixed charge coverage ratio. The Credit Agreement, as amended, bears interest, at the Company’s option, at either the prime rate plus an applicable margin ranging from 0.25 % to 1.00 % or at an adjusted term benchmark rate plus an applicable margin ranging from 1.25 % to 2.00 %, in each case based on the Company’s net leverage ratio. The Company is also required to pay a commitment fee for any unused portion of the revolving credit facility ranging from 0.15 % to 0.30 % based on the Company’s net leverage ratio. Effective during both the three and nine months ended March 31, 2024 , the applicable margin for loans accruing at the prime rate was 0.25 % and the applicable margin for loans accruing interest at the benchmark rate was 1.25 %. As of March 31, 2024 , the interest rate on the Company’s term loan was 6.68 %. The Credit Agreement will mature and all remaining amounts outstanding thereunder will be due and payable on June 28, 2026. As of March 31, 2024, the Company was in compliance with its financial covenants under the Credit Agreement. Revolving Credit Facility As of March 31, 2024 , the Company had no amounts outstanding on its Revolving Credit Facility and had remaining availability of $ 100.0 million .

INCOME TAXES

INCOME TAXES	9 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	11. INCOME TAXES The Company’s consolidated interim effective tax rate is based on a current estimate of the annual effective income tax rate adjusted to reflect the impact of discrete items. The differences between the Company’s effective tax rates and the statutory federal tax rate of 21.0 % primarily relate to the inclusion of the state tax rate in the overall effective rate, the benefit of federal and state credits, and a permanent add-back for Section 162(m) limitations, partially offset by a benefit associated with the foreign derived intangible income deduction. During the three months ended March 31, 2024 and April 2, 2023, the Company's effective tax rate was 17.4 % and 22.8 % , respectively, and for the nine months ended March 31, 2024 and April 2, 2023, the Company’s effective tax rate was 20.8 % and 23.2 % , respectively. The Company’s effective tax rates for the three and nine months ended March 31, 2024 are lower compared to the effective tax rate for the same prior-year periods, primarily due to a decrease in the effective state tax rate and an increase in the impact of federal tax credits, partially offset by an increase in the tax impact of uncertain state tax positions.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	9 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	12. SHARE-BASED COMPENSATION The following table presents the components of share-based compensation expense by award type. Three Months Ended Nine Months Ended March 31, April 2, March 31, April 2, 2024 2023 2024 2023 Restricted stock awards $ 1,494 $ 587 $ 2,508 $ 1,723 Performance stock units 89 439 23 1,169 Share-based compensation expense $ 1,583 $ 1,026 $ 2,531 $ 2,892 The increase in expense related to restricted stock awards ("RSAs") for the three months ended March 31, 2024 is primarily the result of accelerated recognition of compensation expense associated with outstanding equity awards held by our former Chief Executive Officer, which were modified at the time of the March 2024 announcement of his retirement. Restricted Stock Awards During the nine months ended March 31, 2024 , the Company granted 179,539 RSAs to the Company’s non-executive directors, officers and certain other key employees. Generally, the shares of restricted stock granted during the nine months ended March 31, 2024 , vest pro-rata over three years for officers and certain other key employees and over one year for non-executive directors. The Company determined the fair value of the shares awarded by using the close price of our common stock as of the date of grant. The weighted average grant date fair value of RSAs granted in the nine months ended March 31, 2024 , was $ 21.33 per share. The following table summarizes the status of nonvested RSAs as of March 31, 2024, and changes during the nine months then ended. Average Nonvested Grant-Date Restricted Fair Value Shares (per share) Nonvested at June 30, 2023 91,907 $ 23.66 Granted 179,539 21.33 Vested ( 18,830 ) 20.00 Forfeited ( 19,173 ) 23.09 Nonvested at March 31, 2024 233,443 22.21 As of March 31, 2024 , there was $ 2.7 million of total unrecognized compensation expense related to nonvested RSAs. The Company expects this expense to be recognized over a weighted average period of 2.2 years. Performance Stock Units Performance stock units (“PSUs”) are a form of long-term incentive compensation awarded to executive officers and certain other key employees designed to directly align the interests of employees to the interests of the Company’s stockholders, and to create long-term stockholder value. The awards will be earned based on the Company’s achievement of certain performance criteria over a three-year performance period. The performance period for the awards commences on July 1 of the fiscal year in which they were granted and continue for a three-year period, ending on June 30 of the applicable year. The probability of achieving the performance criteria is assessed quarterly. Following the determination of the Company’s achievement with respect to the performance criteria, the number of shares awarded is subject to further adjustment based on the application of a total shareholder return (“TSR”) modifier. The grant date fair value is determined based on both the probability assessment of the Company achieving the performance criteria and an estimate of the expected TSR modifier. The TSR modifier estimate is determined using a Monte Carlo Simulation model, which considers the likelihood of numerous possible outcomes of long-term market performance. Compensation expense related to nonvested PSUs is recognized ratably over the performance period. The following table summarizes the status of nonvested PSUs as of March 31, 2024, and changes during the nine months then ended. Average Nonvested Grant-Date Performance Fair Value Stock Units (per share) Nonvested at June 30, 2023 122,971 $ 27.12 Granted 86,555 21.62 Forfeited ( 28,054 ) 25.65 Nonvested at March 31, 2024 181,472 24.73 As of March 31, 2024 , there was $ 0.2 million of total unrecognized compensation expense related to nonvested PSUs. The Company expects this expense to be recognized over a weighted average period of 2.2 years.

EARNINGS PER SHARE AND COMMON S

EARNINGS PER SHARE AND COMMON STOCK	9 Months Ended
	Mar. 31, 2024
Equity [Abstract]
EARNINGS PER SHARE AND COMMON STOCK	13. EARNINGS PER SHARE AND COMMON STOCK The following table sets forth the computation of the Company’s net income per share: Three Months Ended Nine Months Ended March 31, April 2, March 31, April 2, 2024 2023 2024 2023 Net income from continuing operations $ 3,826 $ 22,782 $ 16,829 $ 67,400 Loss from discontinued operations, net of tax ( 71 ) ( 272 ) ( 993 ) ( 21,139 ) Net income $ 3,755 $ 22,510 $ 15,836 $ 46,261 Weighted average shares — basic 16,844,440 17,559,920 17,003,616 17,725,208 Dilutive effect of assumed exercises of stock options — 4,816 — 7,028 Dilutive effect of assumed restricted share awards/units 121,184 184,174 90,342 119,419 Weighted average outstanding shares — diluted 16,965,624 17,748,910 17,093,958 17,851,655 Basic net income (loss) per share Continuing operations $ 0.23 $ 1.30 $ 0.99 $ 3.80 Discontinued operations ( 0.01 ) ( 0.02 ) ( 0.06 ) ( 1.19 ) Net income $ 0.22 $ 1.28 $ 0.93 $ 2.61 Diluted net income (loss) per share Continuing operations $ 0.23 $ 1.28 $ 0.98 $ 3.78 Discontinued operations ( 0.01 ) ( 0.01 ) ( 0.05 ) ( 1.19 ) Net income $ 0.22 $ 1.27 $ 0.93 $ 2.59 For the three and nine months ended March 31, 2024 and April 2, 2023, an immaterial number of shares were excluded from the computation of diluted earnings per share as the effect would have been anti-dilutive. Share Repurchase Program On June 24, 2021, the board of directors of the Company authorized a share repurchase program that allowed for the repurchase of up to $ 50.0 million of the Company’s common stock during the three-year period ending June 24, 2024. While having $ 1.6 million of availability as of June 30, 2023, this program was fully utilized during the first quarter ended October 1, 2023. On July 24, 2023, the board of directors of the Company authorized a new share repurchase program under which the Company may repurchase up to $ 50.0 million of its outstanding shares of common stock. The new authorization became effective upon the completion of the Company's existing $ 50.0 million stock repurchase authorization. During the three months ended March 31, 2024 and April 2, 2023 , the Company repurchased 73,562 shares and 210,150 shares of common stock for $ 1.6 million and $ 7.0 million, respectively, in cash, excluding related fees and expenses. During the nine months ended March 31, 2024 and April 2, 2023 , the Company repurchased 529,545 shares and 625,794 shares of common stock for $ 11.7 million and $ 16.0 million, respectively, in cash, excluding related fees and expenses. As of March 31, 2024 , $ 39.9 million remained available under the program.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	14. SEGMENT INFORMATION Reportable Segments Operating segments are identified as components of an enterprise about which discrete financial information is available for evaluation by the CODM in making decisions on how to allocate resources and assess performance. For the three and nine months ended March 31, 2024 , the Company’s CODM regularly assessed the operating performance of the Company’s boat brands under three operating and reportable segments: • The MasterCraft segment produces boats at its Vonore, Tennessee facility. These are premium recreational performance sport boats primarily used for water skiing, wakeboarding, wake surfing, and general recreational boating. • The Crest segment produces pontoon boats at its Owosso, Michigan facility. Crest boats are primarily used for general recreational boating. • The Aviara segment produces luxury day boats at its Merritt Island, Florida facility. Aviara boats are primarily used for general recreational boating. Each segment distributes its products through its own independent dealer network. Each segment also has its own management structure which is responsible for the operations of the segment and is directly accountable to the CODM for the operating performance of the segment, which is regularly assessed by the CODM who allocates resources based on that performance. The Company files a consolidated income tax return and does not allocate income taxes and other corporate-level expenses, including interest, to operating segments. All material corporate costs are included in the MasterCraft segment. Selected financial information for the Company’s reportable segments was as follows: For the Three Months Ended March 31, 2024 MasterCraft Crest Aviara Consolidated Net sales $ 69,783 $ 14,194 $ 11,731 $ 95,708 Operating income (loss) 7,616 ( 864 ) ( 2,756 ) 3,996 Depreciation and amortization 1,288 817 737 2,842 Purchases of property, plant and equipment 2,591 584 1,329 4,504 For the Nine Months Ended March 31, 2024 MasterCraft Crest Aviara Consolidated Net sales $ 218,319 $ 49,713 $ 31,374 $ 299,406 Operating income (loss) 28,202 ( 133 ) ( 8,502 ) 19,567 Depreciation and amortization 3,872 2,440 2,015 8,327 Purchases of property, plant and equipment 6,207 1,761 4,654 12,622 For the Three Months Ended April 2, 2023 MasterCraft Crest Aviara Consolidated Net sales $ 117,630 $ 36,369 $ 12,777 $ 166,776 Operating income (loss) 25,298 4,962 ( 1,234 ) 29,026 Depreciation and amortization 1,386 701 535 2,622 Purchases of property, plant and equipment 3,151 2,089 1,716 6,956 For the Nine Months Ended April 2, 2023 MasterCraft Crest Aviara Consolidated Net sales $ 339,315 $ 116,595 $ 39,570 $ 495,480 Operating income (loss) 72,269 17,576 ( 2,136 ) 87,709 Depreciation and amortization 4,132 2,104 1,597 7,833 Purchases of property, plant and equipment 8,434 6,292 4,145 18,871 The following table presents total assets for the Company’s reportable segments. March 31, 2024 June 30, 2023 Assets: MasterCraft $ 251,297 $ 259,201 Crest 48,299 53,435 Aviara 41,286 41,340 Total assets $ 340,882 $ 353,976

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation — The Company’s fiscal year begins July 1 and ends June 30, with the interim quarterly reporting periods consisting of 13 weeks. Therefore, the fiscal quarter end will not always coincide with the date of the end of a calendar month. The accompanying unaudited condensed consolidated financial statements include the accounts of MasterCraft Boat Holdings, Inc. ("Holdings") and its wholly owned subsidiaries. Holdings and its subsidiaries collectively are referred to herein as the "Company." The unaudited condensed consolidated financial statements have been prepared on the same basis as the Company’s audited consolidated financial statements for the year ended June 30, 2023, and, in the opinion of management, reflect all adjustments considered necessary to present fairly the Company’s financial position as of March 31, 2024, its results of operations for the three and nine months ended March 31, 2024 and April 2, 2023, its cash flows for the nine months ended March 31, 2024 and April 2, 2023, and its statements of equity for the three and nine months ended March 31, 2024 and April 2, 2023. All adjustments are of a normal, recurring nature. Certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the applicable rules and regulations of the SEC for financial information have been condensed or omitted pursuant to such rules and regulations. The June 30, 2023 condensed consolidated balance sheet data was derived from the audited financial statements but does not include all disclosures required by U.S. GAAP for complete financial statements. However, management believes that the disclosures in these condensed consolidated financial statements are adequate to make the information presented not misleading. These condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and notes thereto included in our 2023 Annual Report on Form 10-K. Due to the seasonality of the Company’s business, the interim results are not necessarily indicative of the results that may be expected for the remainder of the fiscal year. There were no significant changes in, or changes to, the application of the Company’s significant or critical accounting policies or estimation procedures for the three and nine months ended March 31, 2024, as compared with those described in the Company’s audited consolidated financial statements for the fiscal year ended June 30, 2023 .
Investment in Sales-Type Lease	Investment in Sales-Type Lease — On July 1, 2023, the Company became a lessor in a sales-type lease arrangement consisting of land valued at $ 3.9 million. In accordance with Accounting Standards Codification (“ASC”) 842, Leases, the underlying land was derecognized as Property, plant and equipment and a sales-type lease was recognized as a net investment in a lease. The net investment balances are represented as lease receivable and unguaranteed residual asset amounts on the balance sheet within other current assets and other long-term assets. The interest earned on the net investment will be recognized as interest income.
New Pronouncements Issued	New Accounting Pronouncements Segment Reporting ASU No. 2023-07, Improvements to Reportable Segment Disclosures, requires incremental disclosures about an entity’s reportable segments but does not change the definition of a segment or the guidance for determining reportable segments. The new guidance requires disclosure of significant segment expenses that are (1) regularly provided to (or easily computed from information regularly provided to) the chief operating decision maker and (2) included in the reported measure of segment profit or loss. The new standard also allows companies to disclose multiple measures of segment profit or loss if those measures are used to assess performance and allocate resources. This update is effective for fiscal years beginning after December 31, 2023, or fiscal 2025 for the Company, and should be adopted retrospectively unless impracticable. The Company is currently evaluating the impact, if any, that the adoption of this standard will have on financial disclosures. Income Taxes Accounting Standard Update ("ASU") No. 2023-09, Improvements to Income Tax Disclosures, requires entities to disclose in their rate reconciliation table additional categories of information about federal, state and foreign income taxes and provide more details about the reconciling items in some categories if items meet a quantitative threshold. Entities would have to provide qualitative disclosures about the new categories. The guidance will require all entities to disclose income taxes paid, net of refunds, disaggregated by federal (national), state and foreign taxes for annual periods and to disaggregate the information by jurisdiction based on a quantitative threshold. The guidance makes several other changes to the disclosure requirements. Entities are required to apply the guidance prospectively, with the option to apply it retrospectively. The guidance is effective for annual periods beginning after December 15, 2024, or fiscal 2026 for the Company. The Company is currently evaluating the impact, if any, that the adoption of this standard will have on financial disclosures.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	9 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Summary of Revenues from Contracts with Customers by Major Product Category and Reportable Segment	The following tables present the Company's revenue by major product category for each reportable segment: Three Months Ended March 31, 2024 MasterCraft Crest Aviara Total Major Product Categories: Boats and trailers $ 66,961 $ 13,769 $ 11,731 $ 92,461 Parts 2,443 292 — 2,735 Other revenue 379 133 — 512 Total $ 69,783 $ 14,194 $ 11,731 $ 95,708 Nine Months Ended March 31, 2024 MasterCraft Crest Aviara Total Major Product Categories: Boats and trailers $ 207,160 $ 48,584 $ 31,374 $ 287,118 Parts 9,574 770 — 10,344 Other revenue 1,585 359 — 1,944 Total $ 218,319 $ 49,713 $ 31,374 $ 299,406 Three Months Ended April 2, 2023 MasterCraft Crest Aviara Total Major Product Categories: Boats and trailers $ 114,514 $ 35,936 $ 12,777 $ 163,227 Parts 2,798 285 — 3,083 Other revenue 318 148 — 466 Total $ 117,630 $ 36,369 $ 12,777 $ 166,776 Nine Months Ended April 2, 2023 MasterCraft Crest Aviara Total Major Product Categories: Boats and trailers $ 328,254 $ 115,444 $ 39,570 $ 483,268 Parts 9,693 671 — 10,364 Other revenue 1,368 480 — 1,848 Total $ 339,315 $ 116,595 $ 39,570 $ 495,480

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	9 Months Ended
	Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Summary of Operating Results and Balance Sheet Data for Discontinued Operations and Disposals	The following table summarizes the operating results of discontinued operations for the following periods: Nine Months Ended March 31, April 2, 2024 2023 NET SALES 37 $ 7,767 COST OF SALES 257 9,732 GROSS LOSS ( 220 ) ( 1,965 ) OPERATING EXPENSES: Selling, general and administrative 1,237 2,639 Total operating expenses 1,237 2,639 OPERATING LOSS ( 1,457 ) ( 4,604 ) Gain (loss) on sale of discontinued operations 157 ( 22,487 ) LOSS BEFORE INCOME TAX BENEFIT ( 1,300 ) ( 27,091 ) INCOME TAX BENEFIT 307 5,952 LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX ( 993 ) $ ( 21,139 )

HELD-TO-MATURITY SECURITIES (Ta

HELD-TO-MATURITY SECURITIES (Tables)	9 Months Ended
	Mar. 31, 2024
Investments Disclosure [Abstract]
Summary of investments	March 31, 2024 Amortized Gross Gross Estimated Cost / Net Unrealized Unrealized Fair Carrying Amount Gains Losses Value Held-to-maturity securities: Fixed income securities: Corporate bonds $ 83,183 $ 6 $ ( 48 ) $ 83,141 Total held-to-maturity securities $ 83,183 $ 6 $ ( 48 ) $ 83,141 June 30, 2023 Amortized Gross Gross Estimated Cost / Net Unrealized Unrealized Fair Carrying Amount Gains Losses Value Held-to-maturity securities: Fixed income securities: Corporate bonds $ 81,743 $ 1 $ ( 160 ) $ 81,584 U.S. treasury bills 9,817 31 ( 1 ) 9,847 Total held-to-maturity securities $ 91,560 $ 32 $ ( 161 ) $ 91,431

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following: March 31, June 30, 2024 2023 Raw materials and supplies $ 27,262 $ 40,201 Work in process 9,418 9,465 Finished goods 6,395 10,335 Obsolescence reserve ( 1,643 ) ( 1,703 ) Total inventories $ 41,432 $ 58,298

PROPERTY, PLANT, AND EQUIPMENT

PROPERTY, PLANT, AND EQUIPMENT (Tables)	9 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of property plant and equipment, net	Property, plant, and equipment, net consisted of the following: March 31, June 30, 2024 2023 Land and improvements $ 7,587 $ 10,456 Buildings and improvements 51,848 46,759 Machinery and equipment 42,309 40,632 Furniture and fixtures 5,620 5,284 Construction in progress 12,717 10,180 Total property, plant, and equipment 120,081 113,311 Less accumulated depreciation ( 40,488 ) ( 35,390 ) Property, plant, and equipment — net 79,593 $ 77,921

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	9 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Carrying Amounts of Goodwill	The following table presents the carrying amounts of goodwill as of March 31, 2024 and June 30, 2023 for each of the Company's reportable segments. Gross Amount Accumulated Impairment Losses Total MasterCraft $ 28,493 $ — $ 28,493 Crest 36,238 ( 36,238 ) — Aviara 1,100 ( 1,100 ) — Total $ 65,831 $ ( 37,338 ) $ 28,493
Schedule of Carrying Amount of Other Intangible Assets, Net	The following table presents the carrying amounts of Other intangible assets, net: March 31, June 30, 2024 2023 Gross Amount Accumulated Amortization / Impairment Other intangible assets, net Gross Amount Accumulated Amortization / Impairment Other intangible assets, net Amortized intangible assets Dealer networks $ 19,500 $ ( 11,400 ) $ 8,100 $ 19,500 $ ( 10,050 ) $ 9,450 Software 245 ( 245 ) — 245 ( 233 ) 12 19,745 ( 11,645 ) 8,100 19,745 ( 10,283 ) 9,462 Unamortized intangible assets Trade names 33,000 ( 7,000 ) 26,000 33,000 ( 7,000 ) 26,000 Total other intangible assets $ 52,745 $ ( 18,645 ) $ 34,100 $ 52,745 $ ( 17,283 ) $ 35,462

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	9 Months Ended
	Mar. 31, 2024
Accrued Liabilities and Other Liabilities [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following: March 31, June 30, 2024 2023 Warranty $ 30,861 $ 31,780 Dealer incentives 21,452 24,987 Compensation and related accruals 4,367 5,838 Inventory repurchase contingent obligation 2,212 1,515 Contract liabilities 1,423 1,477 Self-insurance 1,357 1,586 Liabilities retained associated with discontinued operations 786 690 Other 3,706 4,623 Total accrued expenses and other current liabilities $ 66,164 $ 72,496
Summary of Accrued Warranty Liability Activity	Accrued warranty liability activity was as follows for the nine months ended: March 31, April 2, 2024 2023 Balance at the beginning of the period $ 31,780 $ 25,824 Provisions 6,438 10,766 Payments made ( 10,557 ) ( 9,069 ) Changes for pre-existing warranties 3,200 3,131 Balance at the end of the period $ 30,861 $ 30,652

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	9 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt is as follows: March 31, June 30, 2024 2023 Term loan $ 50,625 $ 54,000 Debt issuance costs on term loan ( 272 ) ( 324 ) Total debt 50,353 53,676 Less current portion of long-term debt 4,500 4,500 Less current portion of debt issuance costs on term loan ( 129 ) ( 119 ) Long-term debt, net of current portion $ 45,982 $ 49,295

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	9 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Components of Share-based Compensation Expense by Award Type	The following table presents the components of share-based compensation expense by award type. Three Months Ended Nine Months Ended March 31, April 2, March 31, April 2, 2024 2023 2024 2023 Restricted stock awards $ 1,494 $ 587 $ 2,508 $ 1,723 Performance stock units 89 439 23 1,169 Share-based compensation expense $ 1,583 $ 1,026 $ 2,531 $ 2,892
Summary of Status of Nonvested Restricted Stock Awards and Changes	The following table summarizes the status of nonvested RSAs as of March 31, 2024, and changes during the nine months then ended. Average Nonvested Grant-Date Restricted Fair Value Shares (per share) Nonvested at June 30, 2023 91,907 $ 23.66 Granted 179,539 21.33 Vested ( 18,830 ) 20.00 Forfeited ( 19,173 ) 23.09 Nonvested at March 31, 2024 233,443 22.21
Summary of Status of Nonvested Performance Stock Units and Changes	The following table summarizes the status of nonvested PSUs as of March 31, 2024, and changes during the nine months then ended. Average Nonvested Grant-Date Performance Fair Value Stock Units (per share) Nonvested at June 30, 2023 122,971 $ 27.12 Granted 86,555 21.62 Forfeited ( 28,054 ) 25.65 Nonvested at March 31, 2024 181,472 24.73

EARNINGS PER SHARE AND COMMON_2

EARNINGS PER SHARE AND COMMON STOCK (Tables)	9 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Factors Used in Net Income Per Share Computation	The following table sets forth the computation of the Company’s net income per share: Three Months Ended Nine Months Ended March 31, April 2, March 31, April 2, 2024 2023 2024 2023 Net income from continuing operations $ 3,826 $ 22,782 $ 16,829 $ 67,400 Loss from discontinued operations, net of tax ( 71 ) ( 272 ) ( 993 ) ( 21,139 ) Net income $ 3,755 $ 22,510 $ 15,836 $ 46,261 Weighted average shares — basic 16,844,440 17,559,920 17,003,616 17,725,208 Dilutive effect of assumed exercises of stock options — 4,816 — 7,028 Dilutive effect of assumed restricted share awards/units 121,184 184,174 90,342 119,419 Weighted average outstanding shares — diluted 16,965,624 17,748,910 17,093,958 17,851,655 Basic net income (loss) per share Continuing operations $ 0.23 $ 1.30 $ 0.99 $ 3.80 Discontinued operations ( 0.01 ) ( 0.02 ) ( 0.06 ) ( 1.19 ) Net income $ 0.22 $ 1.28 $ 0.93 $ 2.61 Diluted net income (loss) per share Continuing operations $ 0.23 $ 1.28 $ 0.98 $ 3.78 Discontinued operations ( 0.01 ) ( 0.01 ) ( 0.05 ) ( 1.19 ) Net income $ 0.22 $ 1.27 $ 0.93 $ 2.59

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Operating Information for Reportable Segments	Selected financial information for the Company’s reportable segments was as follows: For the Three Months Ended March 31, 2024 MasterCraft Crest Aviara Consolidated Net sales $ 69,783 $ 14,194 $ 11,731 $ 95,708 Operating income (loss) 7,616 ( 864 ) ( 2,756 ) 3,996 Depreciation and amortization 1,288 817 737 2,842 Purchases of property, plant and equipment 2,591 584 1,329 4,504 For the Nine Months Ended March 31, 2024 MasterCraft Crest Aviara Consolidated Net sales $ 218,319 $ 49,713 $ 31,374 $ 299,406 Operating income (loss) 28,202 ( 133 ) ( 8,502 ) 19,567 Depreciation and amortization 3,872 2,440 2,015 8,327 Purchases of property, plant and equipment 6,207 1,761 4,654 12,622 For the Three Months Ended April 2, 2023 MasterCraft Crest Aviara Consolidated Net sales $ 117,630 $ 36,369 $ 12,777 $ 166,776 Operating income (loss) 25,298 4,962 ( 1,234 ) 29,026 Depreciation and amortization 1,386 701 535 2,622 Purchases of property, plant and equipment 3,151 2,089 1,716 6,956 For the Nine Months Ended April 2, 2023 MasterCraft Crest Aviara Consolidated Net sales $ 339,315 $ 116,595 $ 39,570 $ 495,480 Operating income (loss) 72,269 17,576 ( 2,136 ) 87,709 Depreciation and amortization 4,132 2,104 1,597 7,833 Purchases of property, plant and equipment 8,434 6,292 4,145 18,871 The following table presents total assets for the Company’s reportable segments. March 31, 2024 June 30, 2023 Assets: MasterCraft $ 251,297 $ 259,201 Crest 48,299 53,435 Aviara 41,286 41,340 Total assets $ 340,882 $ 353,976

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) $ in Millions	Jul. 01, 2023 USD ($)
Organization Basis Of Presentation And Significant Accounting Policies [Line Items]
Sales-type Lease, Net Investment in Lease, Sale	$ 3.9

REVENUE RECOGNITION - Summary o

REVENUE RECOGNITION - Summary of Revenues From Contracts with Customers by Major Product Category and Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Mar. 31, 2024	Apr. 02, 2023
Revenue by Categories
Revenue	$ 95,708	$ 166,776	$ 299,406	$ 495,480
MasterCraft
Revenue by Categories
Revenue	69,783	117,630	218,319	339,315
Crest
Revenue by Categories
Revenue	14,194	36,369	49,713	116,595
Aviara
Revenue by Categories
Revenue	11,731	12,777	31,374	39,570
Boats and trailers
Revenue by Categories
Revenue	92,461	163,227	287,118	483,268
Boats and trailers | MasterCraft
Revenue by Categories
Revenue	66,961	114,514	207,160	328,254
Boats and trailers | Crest
Revenue by Categories
Revenue	13,769	35,936	48,584	115,444
Boats and trailers | Aviara
Revenue by Categories
Revenue	11,731	12,777	31,374	39,570
Parts
Revenue by Categories
Revenue	2,735	3,083	10,344	10,364
Parts | MasterCraft
Revenue by Categories
Revenue	2,443	2,798	9,574	9,693
Parts | Crest
Revenue by Categories
Revenue	292	285	770	671
Other
Revenue by Categories
Revenue	512	466	1,944	1,848
Other | MasterCraft
Revenue by Categories
Revenue	379	318	1,585	1,368
Other | Crest
Revenue by Categories
Revenue	$ 133	$ 148	$ 359	$ 480

REVENUE RECOGNITION - Additiona

REVENUE RECOGNITION - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2024	Jun. 30, 2023
Contract liabilities
Contract with Customer, Liability, Current	$ 1,423	$ 1,477
Contract liabilities		$ 3,300
Contract with Customer, Liability, Revenue Recognized	1,400
Revenue, Remaining Performance Obligation, Amount	600
Other Noncurrent Liabilities [Member]
Contract liabilities
Other long term liabilities	$ 3,500

DISCONTINUED OPERATIONS - Addit

DISCONTINUED OPERATIONS - Additional Information (Details) $ in Millions	9 Months Ended
	Apr. 02, 2023 USD ($)
Discontinued Operations and Disposal Groups [Abstract]
Non-cash pretax loss	$ 22.5

DISCONTINUED OPERATIONS - Summa

DISCONTINUED OPERATIONS - Summary of Operating Results of Discontinued Operations (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
OPERATING EXPENSES:
Gain (loss) on sale of discontinued operations		$ 22,500
NauticStar
Discontinued Operations
NET SALES	$ 37	7,767
COST OF SALES	257	9,732
GROSS LOSS	(220)	(1,965)
OPERATING EXPENSES:
Selling, general and administrative	1,237	2,639
Total operating expenses	1,237	2,639
OPERATING LOSS	(1,457)	(4,604)
Gain (loss) on sale of discontinued operations	157	(22,487)
LOSS BEFORE INCOME TAX BENEFIT	(1,300)	(27,091)
INCOME TAX BENEFIT	307	5,952
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX	$ (993)	$ (21,139)

HELD-TO-MATURITY SECURITIES - S

HELD-TO-MATURITY SECURITIES - Summary of investments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Amortized Cost	$ 83,183	$ 91,560
Gross Unrealized Gains	6	32
Gross Unrealized Losses	(48)	(161)
Estimated Fair Value	83,141	91,431
Corporate Bond
Amortized Cost	83,183	81,743
Gross Unrealized Gains	6	1
Gross Unrealized Losses	(48)	(160)
Estimated Fair Value	$ 83,141	81,584
US Treasury Bill Securities [Member]
Amortized Cost		9,817
Gross Unrealized Gains		31
Gross Unrealized Losses		(1)
Estimated Fair Value		$ 9,847

INVENTORIES - Schedule of Inven

INVENTORIES - Schedule of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 27,262	$ 40,201
Work in process	9,418	9,465
Finished goods	6,395	10,335
Obsolescence reserve	(1,643)	(1,703)
Total inventories	$ 41,432	$ 58,298

PROPERTY, PLANT, AND EQUIPMEN_2

PROPERTY, PLANT, AND EQUIPMENT - Summary of Property, plant, and equipment, net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 120,081	$ 113,311
Less accumulated depreciation	(40,488)	(35,390)
Property, Plant and Equipment, Net	79,593	77,921
Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	7,587	10,456
Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	51,848	46,759
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	42,309	40,632
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	5,620	5,284
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 12,717	$ 10,180

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Mar. 31, 2024	Apr. 02, 2023	Jun. 30, 2024
Indefinite-Lived Intangible Assets [Line Items]
Amortization of other intangible assets	$ 450	$ 489	$ 1,362	$ 1,467
Estimated amortization expense June 30, 2023					$ 1,800

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Carrying Amounts of Goodwill (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Goodwill [Line Items]
Goodwill	$ 65,831	$ 65,831
Accumulated impairment losses	(37,338)	(37,338)
Goodwill, net	28,493	28,493
MasterCraft
Goodwill [Line Items]
Goodwill	28,493	28,493
Accumulated impairment losses	0	0
Goodwill, net	28,493	28,493
Crest
Goodwill [Line Items]
Goodwill	36,238	36,238
Accumulated impairment losses	(36,238)	(36,238)
Goodwill, net	0	0
Aviara
Goodwill [Line Items]
Goodwill	1,100	1,100
Accumulated impairment losses	(1,100)	(1,100)
Goodwill, net	$ 0	$ 0

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Carrying Amount of Other Intangible Assets, Net (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2024	Jun. 30, 2023
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Amortized intangible assets, Gross Amount	$ 19,745	$ 19,745
Amortized intangible assets, Accumulated Amortization / Impairment	(11,645)	(10,283)
Amortized intangible assets, Other intangible assets, net	8,100	9,462
Gross Amount	52,745	52,745
Accumulated Amortization / Impairment	(18,645)	(17,283)
Other intangible assets, net	34,100	35,462
Dealer network
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Amortized intangible assets, Gross Amount	19,500	19,500
Amortized intangible assets, Accumulated Amortization / Impairment	(11,400)	(10,050)
Amortized intangible assets, Other intangible assets, net	8,100	9,450
Software
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Amortized intangible assets, Gross Amount	245	245
Amortized intangible assets, Accumulated Amortization / Impairment	(245)	(233)
Amortized intangible assets, Other intangible assets, net	0	12
Trade names
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Unamortized intangible assets, Gross Amount	33,000	33,000
Unamortized intangible assets, Accumulated Amortization / Impairment	(7,000)	(7,000)
Unamortized intangible assets, Other intangible assets, net	$ 26,000	$ 26,000

ACCRUED EXPENSES AND OTHER CU_3

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Warranty	$ 30,861	$ 31,780
Dealer incentives	21,452	24,987
Compensation and related accruals	4,367	5,838
Inventory repurchase contingent obligation	2,212	1,515
Contract liabilities	1,423	1,477
Self-insurance	1,357	1,586
Liabilities retained associated with discontinued operations	786	690
Other	3,706	4,623
Total accrued expenses and other current liabilities	$ 66,164	$ 72,496

ACCRUED EXPENSES AND OTHER CU_4

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Summary of Accrued Warranty Liability Activity (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Roll forward of the accrued warranty liability
Balance at the beginning of the period	$ 31,780	$ 25,824
Provisions	6,438	10,766
Payments made	(10,557)	(9,069)
Changes for pre-existing warranties	3,200	3,131
Balance at the end of the period	$ 30,861	$ 30,652

LONG-TERM DEBT - Schedule of Lo

LONG-TERM DEBT - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Long-term debt
Total debt	$ 50,353	$ 53,676
Less current portion of long-term debt	4,500	4,500
Long-term debt, net of current portion	45,982	49,295
Term Loan
Long-term debt
Term loan	50,625	54,000
Debt issuance costs on term loans	(272)	(324)
Less current portion of debt issuance costs on term loans	$ (129)	$ (119)

LONG-TERM DEBT - Senior Secured

LONG-TERM DEBT - Senior Secured Credit Facility - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2024	Jun. 30, 2023
Term Loan
Long-term debt
Long-term debt	$ 50,625	$ 54,000
Interest rate	6.68%
Senior Secured Credit Facility
Long-term debt
Maximum borrowing capacity	$ 160,000
Senior Secured Credit Facility | Prime Rate
Long-term debt
Variable margin rate	0.25%
Senior Secured Credit Facility | Prime Rate | Minimum
Long-term debt
Variable margin rate	0.25%
Senior Secured Credit Facility | Prime Rate | Maximum
Long-term debt
Variable margin rate	1%
Senior Secured Credit Facility | Term Benchmark
Long-term debt
Variable margin rate	1.25%
Senior Secured Credit Facility | Term Benchmark | Minimum
Long-term debt
Variable margin rate	1.25%
Senior Secured Credit Facility | Term Benchmark | Maximum
Long-term debt
Variable margin rate	2%
Senior Secured Credit Facility | Term Loan
Long-term debt
Long-term debt	$ 60,000
Senior Secured Credit Facility | Revolving Credit Facility
Long-term debt
Maximum borrowing capacity	$ 100,000
Senior Secured Credit Facility | Revolving Credit Facility | Minimum
Long-term debt
Commitment fee percentage	0.15%
Senior Secured Credit Facility | Revolving Credit Facility | Maximum
Long-term debt
Commitment fee percentage	0.30%

LONG-TERM DEBT - Revolving Cred

LONG-TERM DEBT - Revolving Credit Facility - Additional Information (Details) - Revolving Credit Facility $ in Millions	Mar. 31, 2024 USD ($)
Debt Instrument [Line Items]
Outstanding borrowings	$ 0
Remaining borrowing capacity	$ 100

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details)	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Mar. 31, 2024	Apr. 02, 2023
Income Tax Disclosure [Abstract]
Effective tax rates	17.40%	22.80%	20.80%	23.20%
Statutory income tax rate			21%

SHARE-BASED COMPENSATION - Comp

SHARE-BASED COMPENSATION - Components of Share-based Compensation Expense by Award Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Mar. 31, 2024	Apr. 02, 2023
Stock-Based Compensation
Share-based compensation expense	$ 1,583	$ 1,026	$ 2,531	$ 2,892
Restricted stock awards
Stock-Based Compensation
Share-based compensation expense	1,494	587	2,508	1,723
Performance stock units
Stock-Based Compensation
Share-based compensation expense	$ 89	$ 439	$ 23	$ 1,169

SHARE-BASED COMPENSATION - Rest

SHARE-BASED COMPENSATION - Restricted Stock Awards - Additional Information (Details) - Restricted stock awards $ / shares in Units, $ in Millions	9 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Stock-Based Compensation
Stock awards granted	179,539
Weighted average grant date value | $ / shares	$ 21.33
Unrecognized compensation expense | $	$ 2.7
Weighted average period	2 years 2 months 12 days
Non-executive directors, officers and certain other key employees
Stock-Based Compensation
Stock awards granted	179,539
Officers and certain other key employees
Stock-Based Compensation
Vesting period (in years)	3 years
Non-executive directors
Stock-Based Compensation
Vesting period (in years)	1 year

SHARE-BASED COMPENSATION - Summ

SHARE-BASED COMPENSATION - Summary of Status of Nonvested Restricted Stock Awards and Changes (Details) - Restricted stock awards	9 Months Ended
	Mar. 31, 2024 $ / shares shares
Nonvested Restricted Shares
Nonvested at beginning of period | shares	91,907
Granted | shares	179,539
Vested | shares	(18,830)
Forfeited | shares	(19,173)
Nonvested at end of period | shares	233,443
Average Grant-Date Fair Value (Per share)
Nonvested at beginning of period | $ / shares	$ 23.66
Granted | $ / shares	21.33
Vested | $ / shares	20
Forfeited | $ / shares	23.09
Nonvested at end of period | $ / shares	$ 22.21

SHARE-BASED COMPENSATION - Perf

SHARE-BASED COMPENSATION - Performance Stock Units - Additional Information (Details) - Performance stock units $ in Millions	9 Months Ended
	Mar. 31, 2024 USD ($)
Stock-Based Compensation
Unrecognized compensation expense	$ 0.2
Weighted average period	2 years 2 months 12 days
Executive officers and certain other key employees
Stock-Based Compensation
Vesting period (in years)	3 years

SHARE-BASED COMPENSATION - Su_2

SHARE-BASED COMPENSATION - Summary of Status of Nonvested Performance Stock Units and Changes (Details) - Performance stock units	9 Months Ended
	Mar. 31, 2024 $ / shares shares
Nonvested Performance Stock Units
Nonvested at beginning of period | shares	122,971
Granted | shares	86,555
Forfeited | shares	(28,054)
Nonvested at end of period | shares	181,472
Average Grant-Date Fair Value (Per share)
Nonvested at beginning of period | $ / shares	$ 27.12
Granted | $ / shares	21.62
Forfeited | $ / shares	25.65
Nonvested at end of period | $ / shares	$ 24.73

EARNINGS PER SHARE AND COMMON_3

EARNINGS PER SHARE AND COMMON STOCK - Factors Used in Earnings Per Share Computation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Mar. 31, 2024	Apr. 02, 2023
Earnings Per Share Basic [Line Items]
Net income from continuing operations	$ 3,826	$ 22,782	$ 16,829	$ 67,400
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX (Note 3)	(71)	(272)	(993)	(21,139)
Net Income	$ 3,755	$ 22,510	$ 15,836	$ 46,261
Weighted average shares — basic	16,844,440	17,559,920	17,003,616	17,725,208
Weighted average outstanding shares — diluted	16,965,624	17,748,910	17,093,958	17,851,655
Basic net income (loss) per share
Continuing operations	$ 0.23	$ 1.3	$ 0.99	$ 3.8
Discontinued operations	(0.01)	(0.02)	(0.06)	(1.19)
Net income	0.22	1.28	0.93	2.61
Diluted net income (loss) per share
Continuing operations	0.23	1.28	0.98	3.78
Discontinued operations	(0.01)	(0.01)	(0.05)	(1.19)
Net income	$ 0.22	$ 1.27	$ 0.93	$ 2.59
Employee Stock Option
Earnings Per Share Basic [Line Items]
Dilutive effect of assumed exercises of stock options and restricted share awards\units	0	4,816	0	7,028
Restricted stock awards
Earnings Per Share Basic [Line Items]
Dilutive effect of assumed exercises of stock options and restricted share awards\units	121,184	184,174	90,342	119,419

EARNINGS PER SHARE AND COMMON_4

EARNINGS PER SHARE AND COMMON STOCK - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Oct. 01, 2023	Apr. 02, 2023	Jan. 01, 2023	Oct. 02, 2022	Mar. 31, 2024	Apr. 02, 2023	Jul. 24, 2023	Jun. 30, 2023	Jun. 24, 2021
Class Of Stock [Line Items]
Stock repurchase program, number of shares authorized									$ 50,000		$ 50,000
Repurchase of shares in cash, including related fees and expenses							$ 11,728	$ 15,972
Stock repurchase program, remained available under the program	$ 39,900						$ 39,900
Available Program was fully utilized										$ 1,600
Stock Repurchase Program Authorized Amount Existing										$ 50,000
Common Stock
Class Of Stock [Line Items]
Number of shares repurchased	73,562	214,219	241,764	210,150	224,284	191,360	529,545	625,794
Repurchase of shares in cash, including related fees and expenses	$ 1,600			$ 7,000			$ 11,700	$ 16,000

SEGMENT INFORMATION - Additiona

SEGMENT INFORMATION - Additional Information (Details) - Segment	3 Months Ended	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2024
Segment Reporting [Abstract]
Number of reportable segments	3	3

SEGMENT INFORMATION - Schedule

SEGMENT INFORMATION - Schedule of Operating Information for Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Mar. 31, 2024	Apr. 02, 2023	Jun. 30, 2023
Segment Reporting Information [Line Items]
Net sales	$ 95,708	$ 166,776	$ 299,406	$ 495,480
Operating income (loss)	3,996	29,026	19,567	87,709
Depreciation and amortization	2,842	2,622	8,327	7,833
Purchases of property, plant and equipment	4,504	6,956	12,622	18,871
Total assets	340,882		340,882		$ 353,976
MasterCraft
Segment Reporting Information [Line Items]
Net sales	69,783	117,630	218,319	339,315
Operating income (loss)	7,616	25,298	28,202	72,269
Depreciation and amortization	1,288	1,386	3,872	4,132
Purchases of property, plant and equipment	2,591	3,151	6,207	8,434
Total assets	251,297		251,297		259,201
Crest
Segment Reporting Information [Line Items]
Net sales	14,194	36,369	49,713	116,595
Operating income (loss)	(864)	4,962	(133)	17,576
Depreciation and amortization	817	701	2,440	2,104
Purchases of property, plant and equipment	584	2,089	1,761	6,292
Total assets	48,299		48,299		53,435
Aviara
Segment Reporting Information [Line Items]
Net sales	11,731	12,777	31,374	39,570
Operating income (loss)	(2,756)	(1,234)	(8,502)	(2,136)
Depreciation and amortization	737	535	2,015	1,597
Purchases of property, plant and equipment	1,329	$ 1,716	4,654	$ 4,145
Total assets	$ 41,286		$ 41,286		$ 41,340