Adicet Bio 10-Q 3 Nov 17 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	ACETO CORP
Entity Central Index Key	2,034
Trading Symbol	acet
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Entity Common Stock Shares Outstanding		30,641,254
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017
Current assets:
Cash and cash equivalents	$ 72,100	$ 55,680
Investments	3,048	2,046
Trade receivables, less allowance for doubtful accounts (September 30, 2017, $476; June 30, 2017, $485)	240,620	260,889
Other receivables	11,897	12,066
Inventory	135,119	136,387
Prepaid expenses and other current assets	4,916	3,941
Deferred income tax asset, net		546
Total current assets	467,700	471,555
Property and equipment, net	11,569	10,428
Property held for sale	6,250	7,152
Goodwill	237,004	236,970
Intangible assets, net	277,247	285,081
Deferred income tax asset, net	10,991	19,453
Other assets	7,212	7,546
TOTAL ASSETS	1,017,973	1,038,185
Current liabilities:
Current portion of long-term debt	14,482	14,466
Accounts payable	98,013	90,011
Accrued expenses	114,654	118,328
Total current liabilities	227,149	222,805
Long-term debt, net	317,097	339,200
Long-term liabilities	62,743	61,449
Environmental remediation liability	1,754	2,339
Deferred income tax liability		7,325
Total liabilities	608,743	633,118
Commitments and contingencies (Note 7)
Shareholders' equity:
Preferred stock, 2,000 shares authorized; no shares issued and outstanding
Common stock, $.01 par value, 75,000 shares authorized; 30,581 and 30,094 shares issued and outstanding at September 30, 2017 and June 30, 2017, respectively	306	301
Capital in excess of par value	217,439	214,198
Retained earnings	194,171	195,680
Accumulated other comprehensive loss	(2,686)	(5,112)
Total shareholders' equity	409,230	405,067
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,017,973	$ 1,038,185

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2017	Jun. 30, 2017
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts (in dollars)	$ 476	$ 485
Preferred stock, shares authorized	2,000	2,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	75,000	75,000
Common stock, shares issued	30,581	30,094
Common stock, shares outstanding	30,581	30,094

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Net sales	$ 185,255	$ 128,018
Cost of sales	145,272	97,179
Gross profit	39,983	30,839
Selling, general and administrative expenses	31,149	21,024
Research and development expenses	1,615	1,050
Operating income	7,219	8,765
Other (expense) income:
Interest expense	(5,355)	(2,233)
Interest and other income, net	274	248
Other (expense) income, Total	(5,081)	(1,985)
Income before income taxes	2,138	6,780
Income tax provision	1,684	2,395
Net income	$ 454	$ 4,385
Basic income per common share (in dollars per share)	$ 0.01	$ 0.15
Diluted income per common share (in dollars per share)	$ 0.01	$ 0.15
Weighted average shares outstanding:
Basic (in shares)	34,975	29,518
Diluted (in shares)	35,259	29,840

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive (loss) Income [Abstract]
Net income	$ 454	$ 4,385
Other comprehensive income:
Foreign currency translation adjustments	2,320	560
Change in fair value of interest rate swaps	106
Comprehensive income	$ 2,880	$ 4,945

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating activities:
Net income	$ 454	$ 4,385
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	8,301	3,168
Amortization of debt issuance costs and debt discount	1,513	1,432
Amortization of deferred financing costs	270
Provision for doubtful accounts	(15)	(58)
Non-cash stock compensation	3,146	1,664
Deferred income taxes	(1,099)	1,405
Environmental charge	902	170
Earnings on equity investment in joint venture	(231)	(325)
Changes in assets and liabilities:
Trade accounts receivable	21,137	9,141
Other receivables	149	464
Inventory	2,225	(6,105)
Prepaid expenses and other current assets	(944)	(978)
Other assets	(334)	(305)
Accounts payable	7,699	3,135
Accrued expenses and other liabilities	792	(6,543)
Net cash provided by operating activities	43,965	10,650
Investing activities:
Purchases of investments	(2,655)	(1,017)
Sales of investments	1,646
Payments for intangible assets	(54)	(1,594)
Purchases of property and equipment, net	(1,506)	(541)
Net cash used in investing activities	(2,569)	(3,152)
Financing activities:
Payment of cash dividends	(1,935)	(1,954)
Proceeds from exercise of stock options	73	185
Excess tax benefit on stock option exercises and restricted stock		437
Repayment of bank loans	(23,783)	(49)
Net cash used in financing activities	(25,645)	(1,381)
Effect of exchange rate changes on cash	669	197
Net increase in cash	16,420	6,314
Cash and cash equivalents at beginning of period	55,680	66,828
Cash and cash equivalents at end of period	$ 72,100	$ 73,142

Basis of Presentation

Basis of Presentation	3 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	(1) Basis of Presentation The condensed consolidated financial statements of Aceto Corporation and subsidiaries (“Aceto” or the “Company”) included herein have been prepared by the Company and reflect all adjustments (consisting solely of normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for all periods presented. Interim results are not necessarily indicative of results which may be achieved for the full year. The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses reported in those financial statements and the disclosure of contingent assets and liabilities at the date of the financial statements. These judgments can be subjective and complex, and consequently actual results could differ from those estimates and assumptions. The Company’s most critical accounting policies relate to revenue recognition; allowance for doubtful accounts; inventory; goodwill and other indefinite-life intangible assets; long-lived assets; environmental matters and other contingencies; income taxes; stock-based compensation; and purchase price allocation. These condensed consolidated financial statements do not include all disclosures associated with consolidated financial statements prepared in accordance with GAAP. Accordingly, these statements should be read in conjunction with the Company’s consolidated financial statements and notes thereto contained in the Company’s Form 10-K for the year ended June 30, 2017.

Business Combinations

Business Combinations	3 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Business Combinations	(2) Business Combinations On December 21, 2016, wholly owned subsidiaries of Rising Pharmaceuticals, Inc. (“Rising”), a wholly owned subsidiary of Aceto, completed the acquisition of certain generic products and related assets of entities formerly known as Citron Pharma LLC (“Citron”) and its affiliate Lucid Pharma LLC (“Lucid”). Citron was a privately-held New Jersey-based pharmaceutical company focused on developing and marketing generic pharmaceutical products in partnership with leading generic pharmaceutical manufacturers based in India and the United States. Lucid was a privately-held New Jersey-based generic pharmaceutical distributor specializing in providing cost-effective products to various agencies of the U.S. Federal Government including the Veterans Administration and the Defense Logistics Agency. Lucid serviced 18 national contracts with the Federal Government, nearly all of which have 5-year terms. Aceto and Citron possess complementary asset-light business models, drug development and manufacturing partnerships and product portfolios. The Company believes consistent with its strategy of expanding Rising’s portfolio of finished dosage form generic products through product development partnerships and acquisitions of late stage assets, abbreviated new drug applications (“ANDAs”) and complementary generic drug businesses, this transaction significantly expanded its roster of commercialized products and pipeline of products under development. In addition, the Company believes that this product acquisition greatly enhanced its size and stature within the generic pharmaceutical industry, expanded its partnership network and offers the Company opportunities to realize meaningful cost and tax efficiencies. At closing, Aceto paid the sellers $270,000 in cash, committed to make a $50,000 unsecured deferred payment that will bear interest at a rate of 5% per annum to the sellers on December 21, 2021 and agreed to issue 5,122 shares of Aceto common stock beginning on December 21, 2019. The product purchase agreement also provides the sellers with a 5-year potential earn-out of up to an additional $50,000 in cash, based on the financial performance of four pre-specified pipeline products that are currently in development. As of September 30, 2017, the Company accrued $2,924 related to this contingent consideration. Rising formed two subsidiaries to consummate the product acquisition – Rising Health, LLC (which acquired certain products and related assets of Citron) and Acetris Health, LLC (which acquired certain products and related assets of Lucid).

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	(3) Stock-Based Compensation Under the Aceto Corporation 2015 Equity Participation Plan (the “2015 Plan”), grants of stock options, stock appreciation rights, restricted stock, restricted stock units and other stock-based awards (“Stock Awards”) may be offered to employees, non-employee directors, consultants and advisors of the Company, including the chief executive officer, chief financial officer and other named executive officers. The maximum number of shares of common stock of the Company that may be issued pursuant to Stock Awards granted under the 2015 Plan will not exceed, in the aggregate, 4,250 shares. Stock Awards that are intended to qualify as “performance-based compensation” for purposes of Section 162(m) of the Internal Revenue Code of 1986, as amended, may be granted. Performance-based awards may be granted, vested and paid based on the attainment of specified performance goals. Under the Aceto Corporation 2010 Equity Participation Plan (as amended and restated in 2012, the “2010 Plan”), grants of stock options, restricted stock, restricted stock units, stock appreciation rights, and stock bonuses may be made to employees, non-employee directors and consultants of the Company. The maximum number of shares of common stock of the Company that may be issued pursuant to awards granted under the 2010 Plan will not exceed, in the aggregate, 5,250 shares. In addition, restricted stock may be granted to an eligible participant in lieu of a portion of any annual cash bonus earned by such participant. Such award may include additional shares of restricted stock (premium shares) greater than the portion of bonus paid in restricted stock. The restricted stock award is vested at issuance and the restrictions lapse ratably over a period of years as determined by the Board of Directors, generally three years. The premium shares vest when all the restrictions lapse, provided that the participant remains employed by the Company at that time. During the three months ended September 30, 2017, the Company granted 337 shares of restricted common stock to its employees that vest over three years. In addition, the Company also issued a target grant of 168 performance-vested restricted stock units, which grant could be as much as 294 units if certain performance criteria and market conditions are met. These performance-vested restricted stock units will cliff vest 100% at the end of the third year following grant in accordance with the performance metrics set forth in the applicable employee performance-vested restricted stock unit grant. During the year ended June 30, 2017, the Company granted 277 shares of restricted common stock to its employees that vest over three years and 22 shares of restricted common stock to its non-employee directors, which vest over approximately one year as well as 42 restricted stock units that have varying vest dates through July 2017. In addition, the Company also issued a target grant of 160 performance-vested restricted stock units, which grant could be as much as 280 if certain performance criteria and market conditions are met. These performance-vested restricted stock units will cliff vest 100% at the end of the third year following grant in accordance with the performance metrics set forth in the applicable employee performance-vested restricted stock unit grant. For the three months ended September 30, 2017 and 2016, the Company recorded stock-based compensation expense of approximately $3,132 and $1,659, respectively, related to restricted common stock and restricted stock units. Included in the $3,132 for the three months ended September 30, 2017 is $2,017 in stock-based compensation expense associated with the separation of the Company’s former Chief Executive Officer

Capital Stock

Capital Stock	3 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Capital Stock	(4) Capital Stock On August 24, 2017, the Company's Board of Directors declared a regular quarterly dividend of $0.065 per share which was paid on September 21, 2017 to shareholders of record as of September 8, 2017. On May 4, 2017, the Board of Directors of the Company authorized the continuation of the Company’s stock repurchase program, expiring in May 2020. Under the stock repurchase program, the Company is authorized to purchase up to 5,000 shares of common stock in open market or private transactions, at prices not to exceed the market value of the common stock at the time of such purchase. The Company is authorized to issue 75,000 shares of Common Stock and 2,000 shares of Preferred Stock. The Board of Directors has authority under the Company’s Restated Certificate of Incorporation to issue shares of preferred stock with voting and other relative rights to be determined by the Board of Directors.

Net Income Per Common Share

Net Income Per Common Share	3 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Net Income Per Common Share	(5) Net Income Per Common Share Basic income per common share is based on the weighted average number of common shares outstanding during the period. Diluted income per common share includes the dilutive effect of potential common shares outstanding. The following table sets forth the reconciliation of weighted average shares outstanding and diluted weighted average shares outstanding: Three Months Ended September 30, 2017 2016 Weighted average shares outstanding 34,975 29,518 Dilutive effect of stock options and restricted stock awards and units 284 322 Diluted weighted average shares outstanding 35,259 29,840 The weighted average shares outstanding for the three months ended September 30, 2017 includes the effect of 5,122 shares to be issued in connection with the acquisition of certain products and related assets from Citron and Lucid (see Note 2).The Convertible Senior Notes (see Note 6) will only be included in the dilutive net income per share calculations using the treasury stock method during periods in which the average market price of Aceto’s common stock is above the applicable conversion price of the Convertible Senior Notes, or $33.215 per share, and the impact would not be anti-dilutive. There were 61 common equivalent shares outstanding as of September 30, 2017 that were not included in the calculation of diluted net income per common share for the three months ended September 30, 2017 because their effect would have been anti-dilutive.

Debt

Debt	3 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Debt	(6) Debt Long-term debt September 30, 2017 June 30, 2017 Convertible Senior Notes, net $ 123,189 $ 121,676 Revolving Bank Loans 70,000 90,000 Term Bank Loans 135,660 139,227 Mortgage 2,730 2,763 331,579 353,666 Less current portion 14,482 14,466 $ 317,097 $ 339,200 Convertible Senior Notes In November 2015, Aceto offered $125,000 aggregate principal amount of Convertible Senior Notes due 2020 (the "Notes") in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. In addition, Aceto granted the initial purchasers for the offering an option to purchase up to an additional $18,750 aggregate principal amount pursuant to the initial purchasers’ option to purchase additional Notes, which was exercised in November 2015. Therefore the total offering was $143,750 aggregate principal amount. The Notes are unsecured obligations of Aceto and rank senior in right of payment to any of Aceto’s subordinated indebtedness, equal in right of payment to all of Aceto’s unsecured indebtedness that is not subordinated, effectively junior in right of payment to any of Aceto’s secured indebtedness to the extent of the value of the assets securing such indebtedness and structurally junior in right of payment to all indebtedness and other liabilities (including trade payables) of Aceto’s subsidiaries. The Notes will be convertible into cash, shares of Aceto common stock or a combination thereof, at Aceto’s election, upon the satisfaction of specified conditions and during certain periods. The Notes will mature in November 2020. The Notes pay 2.0% interest semi-annually in arrears on May 1 and November 1 of each year, which commenced on May 1, 2016. The Notes are convertible into 4,328 shares of common stock, based on an initial conversion price of $33.215 per share. Holders may convert all or any portion of their notes, in multiples of one thousand dollar principal amount, at their option at any time prior to the close of business on the business day immediately preceding May 1, 2020 only under the following circumstances: (i) during any calendar quarter (and only during such calendar quarter), if the last reported sale price of the common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day, (ii) during the five consecutive business day period after any five consecutive trading day period (which is referred to as the “measurement period”) in which the trading price per one thousand dollar principal amount of Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of Aceto’s common stock and the conversion rate on each such trading day; or (iii) upon the occurrence of specified corporate events. Upon conversion by the holders, the Company may elect to settle such conversion in shares of its common stock, cash, or a combination thereof. As a result of its cash conversion option, the Company separately accounted for the value of the embedded conversion option as a debt discount (with an offset to capital in excess of par value). The debt discount is being amortized as additional non-cash interest expense using the effective interest method over the term of the Notes. Debt issuance costs are being amortized as additional non-cash interest expense. In connection with the offering of the Notes, Aceto entered into privately negotiated convertible note hedge transactions with option counterparties, which are affiliates of certain of the initial purchasers. The convertible note hedge transactions are expected generally to reduce the potential dilution to Aceto’s common stock and/or offset any cash payments Aceto is required to make in excess of the principal amount of converted Notes upon any conversion of Notes. Aceto also entered into privately negotiated warrant transactions with the option counterparties. The warrant transactions could separately have a dilutive effect to the extent that the market price per share of Aceto’s common stock as measured over the applicable valuation period at the maturity of the warrants exceeds the applicable strike price of the warrants. By entering into these transactions with the option counterparties, the Company issued convertible debt and a freestanding “call-spread.” The carrying value of the Notes is as follows: September 30, 2017 June 30, 2017 Principal amount $ 143,750 $ 143,750 Unamortized debt discount (17,951 ) (19,255 ) Unamortized debt issuance costs (2,610 ) (2,819 ) Net carrying value $ 123,189 $ 121,676 The following table sets forth the components of total “interest expense” related to the Notes recognized in the accompanying consolidated statements of income for the three months ended September 30: 2017 2016 Contractual coupon $ 709 $ 725 Amortization of debt discount 1,304 1,223 Amortization of debt issuance costs 209 209 $ 2,222 $ 2,157 Credit Facilities On December 21, 2016 the Company entered into a Second Amended and Restated Credit Agreement (the “A&R Credit Agreement”), with eleven banks, which amended and restated in its entirety the Amended and Restated Credit Agreement, dated as of October 28, 2015, as amended by Amendment No. 1 to Amended and Restated Credit Agreement, dated as of November 10, 2015, and Amendment No. 2 to Amended and Restated Credit Agreement, dated as of August 26, 2016 (collectively, the “First Amended Credit Agreement”). The A&R Credit Agreement increases the aggregate available revolving commitment under the First Amended Credit Agreement from $150,000 to an initial aggregate available revolving commitment of $225,000 (the “Initial Revolving Commitment”). Under the A&R Credit Agreement, the Company may borrow, repay and reborrow from and as of December 21, 2016, to but excluding December 21, 2021 (the “Maturity Date”) provided, that if any of the Notes remain outstanding on the date that is 91 days prior to the maturity date of the Notes (the “2015 Convertible Maturity Date”), then the Maturity Date shall mean the date that is 91 days prior to the 2015 Convertible Maturity Date. The A&R Credit Agreement provides for (i) Eurodollar Loans (as such terms are defined in the A&R Credit Agreement), (ii) ABR Loans (as such terms are defined in the A&R Credit Agreement) or (iii) a combination thereof. As of September 30, 2017, the Company borrowed Revolving Loans aggregating $70,000 which loans are Eurodollar Loans at interest rates ranging from 3.24% to 3.45 % at September 30, 2017. The applicable interest rate margin percentage is subject to adjustment quarterly based upon the Company’s senior secured net leverage ratio. Under the A&R Credit Agreement, the Company also borrowed $150,000 in term loans (the “Initial Term Loan). Subject to certain conditions, including obtaining commitments from existing or prospective lenders, the Company will have the right to increase the amount of the Initial Revolving Commitment (each, a “Revolving Facility Increase” and, together with the Initial Revolving Commitment, the “Revolving Commitment”) and/or the Initial Term Loan in an aggregate amount not to exceed $100,000 pursuant to an incremental loan feature in the A&R Credit Agreement. As of September 30, 2017, the remaining amount outstanding under the Initial Term Loan is $138,750 and is payable as a Eurodollar Loan at an interest rate of 3.33%. The proceeds of the Initial Revolving Commitment and Initial Term Loan have been used to partially finance the acquisition of generic products and related assets of Citron and its affiliate Lucid, and pay fees and expenses related thereto. The applicable interest rate margin percentage is subject to adjustment quarterly based upon the Company’s senior secured net leverage ratio. The Initial Term Loan is payable as to principal in nineteen consecutive, equal quarterly installments of $3,750, which commenced on March 31, 2017 and will continue on each March 31, June 30, September 30 and December 31 thereafter. To the extent not previously paid, the final payment on the Term Loan Maturity Date (as defined in the A&R Credit Agreement) shall be in an amount equal to the then outstanding unpaid principal amount of the Initial Term Loan. As such, the Company has classified $15,000 of the Initial Term Loan as short-term in the consolidated balance sheet at September 30, 2017. The A&R Credit Agreement, similar to the First Amended Credit Agreement, provides that commercial letters of credit shall be issued to provide the primary payment mechanism in connection with the purchase of any materials, goods or services in the ordinary course of business. The Company had no open letters of credit at September 30, 2017 and June 30, 2017. In accordance with generally accepted accounting principles, deferred financing costs associated with the Initial Term Loan are presented as a direct deduction from the carrying value of the debt liability rather than showing the deferred financing costs as a deferred charge on the balance sheet. In addition, deferred financing costs associated with the Revolving Commitment have been recorded as a deferred charge on the balance sheet. The A&R Credit Agreement, like the First Amended Credit Agreement, provides for a security interest in substantially all of the personal property of the Company and certain of its subsidiaries. The A&R Credit Agreement contains several financial covenants including, among other things, maintaining a minimum level of debt service and certain leverage ratios. Under the A&R Credit Agreement, the Company and its subsidiaries are also subject to certain restrictive covenants, including, among other things, covenants governing liens, limitations on indebtedness, limitations on guarantees, limitations on sales of assets and sales of receivables, and limitations on loans and investments. The Company was in compliance with all covenants at September 30, 2017. Mortgage On June 30, 2011, the Company entered into a mortgage payable for $3,947 on its corporate headquarters, in Port Washington, New York. This mortgage payable is secured by the land and building and is being amortized over a period of 20 years. The mortgage payable, which was modified in October 2013, bears interest at 4.92% per annum as of September 30, 2017 and matures on June 30, 2021.

Commitments, Contingencies and

Commitments, Contingencies and Other Matters	3 Months Ended
	Sep. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments, Contingencies and Other Matters	(7) Commitments, Contingencies and Other Matters The Company and its subsidiaries are subject to various claims which have arisen in the normal course of business. The Company provides for costs related to contingencies when a loss from such claims is probable and the amount is reasonably determinable. In determining whether it is possible to provide an estimate of loss, or range of possible loss, the Company reviews and evaluates its litigation and regulatory matters on a quarterly basis in light of potentially relevant factual and legal developments. If the Company determines an unfavorable outcome is not probable or reasonably estimable, the Company does not accrue for a potential litigation loss. While the Company has determined that there is a reasonable possibility that a loss has been incurred, no amounts have been recognized in the financial statements, other than what has been discussed below, because the amount of the liability cannot be reasonably estimated at this time. In fiscal years 2011, 2009, 2008 and 2007, the Company received letters from the Pulvair Site Group, a group of potentially responsible parties (PRP Group) who are working with the State of Tennessee (the State) to remediate a contaminated property in Tennessee called the Pulvair site. The PRP Group has alleged that Aceto shipped hazardous substances to the site which were released into the environment. The State had begun administrative proceedings against the members of the PRP Group and Aceto with respect to the cleanup of the Pulvair site and the PRP Group has begun to undertake cleanup. The PRP Group is seeking a settlement of approximately $1,700 from the Company for its share to remediate the site contamination. Although the Company acknowledges that it shipped materials to the site for formulation over twenty years ago, the Company believes that the evidence does not show that the hazardous materials sent by Aceto to the site have significantly contributed to the contamination of the environment and thus believes that, at most, it is a de minimis contributor to the site contamination. Accordingly, the Company believes that the settlement offer is unreasonable. Management believes that the ultimate outcome of this matter will not have a material adverse effect on the Company's financial condition or liquidity. The Company has environmental remediation obligations in connection with Arsynco, Inc. (“Arsynco”), a subsidiary formerly involved in manufacturing chemicals located in Carlstadt, New Jersey, which was closed in 1993 and is currently held for sale. Based on continued monitoring of the contamination at the site and the approved plan of remediation, Arsynco received an estimate from an environmental consultant stating that the costs of remediation could be between $21,500 and $23,300. Remediation commenced in fiscal 2010, and as of September 30, 2017 and June 30, 2017, a liability of $7,866 and $8,451, respectively, is included in the accompanying consolidated balance sheets for this matter. For the three months ended September 30, 2017, the Company recorded an environmental charge of $902, which is included in selling, general and administrative expenses in the accompanying condensed consolidated statement of income for the three months ended September 30, 2017. In accordance with GAAP, management believes that the majority of costs incurred to remediate the site will be capitalized in preparing the property which is currently classified as held for sale. An estimate of the fair value of the property has been determined by a third party real estate professional and supports the assumption that the expected fair value after the remediation is in excess of the amount required to be capitalized. However, these matters, if resolved in a manner different from those assumed in current estimates, could have a material adverse effect on the Company’s financial condition, operating results and cash flows when resolved in a future reporting period. In connection with the environmental remediation obligation for Arsynco, in July 2009, Arsynco entered into a settlement agreement with BASF Corporation (“BASF”), the former owners of the Arsynco property. In accordance with the settlement agreement, BASF paid for a portion of the prior remediation costs and going forward, will co-remediate the property with the Company. The contract requires that BASF pay $550 related to past response costs and pay a proportionate share of the future remediation costs. Accordingly, the Company had recorded a gain of $550 in fiscal 2009. This $550 gain relates to the partial reimbursement of costs of approximately $1,200 that the Company had previously expensed. The Company also recorded an additional receivable from BASF, with an offset against property held for sale, representing its estimated portion of the future remediation costs. The balance of this receivable for future remediation costs as of September 30, 2017 and June 30, 2017 is $3,540 and $3,803, respectively, which is included in the accompanying consolidated balance sheets. In March 2006, Arsynco received notice from the EPA of its status as a PRP under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) for a site described as the Berry’s Creek Study Area (“BCSA”). Arsynco is one of over 150 PRPs which have potential liability for the required investigation and remediation of the site. The estimate of the potential liability is not quantifiable for a number of reasons, including the difficulty in determining the extent of contamination and the length of time remediation may require. In addition, any estimate of liability must also consider the number of other PRPs and their financial strength. In July 2014, Arsynco received notice from the U.S. Department of Interior (“USDOI”) regarding the USDOI’s intent to perform a Natural Resource Damage (NRD) Assessment at the BCSA. Arsynco has to date declined to participate in the development and performance of the NRD assessment process. Based on prior practice in similar situations, it is possible that the State may assert a claim for natural resource damages with respect to the Arsynco site itself, and either the federal government or the State (or both) may assert claims against Arsynco for natural resource damages in connection with Berry's Creek; any such claim with respect to Berry's Creek could also be asserted against the approximately 150 PRPs which the EPA has identified in connection with that site. Any claim for natural resource damages with respect to the Arsynco site itself may also be asserted against BASF, the former owners of the Arsynco property. In September 2012, Arsynco entered into an agreement with three of the other PRPs that had previously been impleaded into New Jersey Department of Environmental Protection, et al. v. Occidental Chemical Corporation, et al., Docket No. ESX-L-9868-05 (the "NJDEP Litigation") and were considering impleading Arsynco into the same proceeding. Arsynco entered into an agreement to avoid impleader. Pursuant to the agreement, Arsynco agreed to (1) a tolling period that would not be included when computing the running of any statute of limitations that might provide a defense to the NJDEP Litigation; (2) the waiver of certain issue preclusion defenses in the NJDEP Litigation; and (3) arbitration of certain potential future liability allocation claims if the other parties to the agreement are barred by a court of competent jurisdiction from proceeding against Arsynco. In July 2015, Arsynco was contacted by an allocation consultant retained by a group of the named PRPs, inviting Arsynco to participate in the allocation among the PRPs’ investigation and remediation costs relating to the BCSA. Arsynco declined that invitation. Since an amount of the liability cannot be reasonably estimated at this time, no accrual is recorded for these potential future costs. The impact of the resolution of this matter on the Company’s results of operations in a particular reporting period is not currently known. A subsidiary of the Company markets certain agricultural protection products which are subject to the Federal Insecticide, Fungicide and Rodenticide Act (FIFRA). FIFRA requires that test data be provided to the EPA to register, obtain and maintain approved labels for pesticide products. The EPA requires that follow-on registrants of these products compensate the initial registrant for the cost of producing the necessary test data on a basis prescribed in the FIFRA regulations. Follow-on registrants do not themselves generate or contract for the data. However, when FIFRA requirements mandate that new test data be generated to enable all registrants to continue marketing a pesticide product, often both the initial and follow-on registrants establish a task force to jointly undertake the testing effort. The Company is presently a member of several such task force groups, which requires payments for such memberships. In addition, in connection with our agricultural protection business, the Company plans to acquire product registrations and related data filed with the United States Environmental Protection Agency to support such registrations and other supporting data for several products. The acquisition of these product registrations and related data filed with the United States Environmental Protection Agency as well as payments to various task force groups could approximate $2,357 through the next twelve months.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	(8) Fair Value Measurements GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly fashion between market participants at the measurement date. GAAP establishes a fair value hierarchy for those instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the Company’s assumptions (unobservable inputs). The hierarchy consists of three levels: Level 1 – Quoted market prices in active markets for identical assets or liabilities; Level 2 – Inputs other than Level 1 inputs that are either directly or indirectly observable; and Level 3 – Unobservable inputs that are not corroborated by market data. On a recurring basis, Aceto measures at fair value certain financial assets and liabilities, which consist of cash equivalents, investments and foreign currency contracts. The Company classifies cash equivalents and investments within Level 1 if quoted prices are available in active markets. Level 1 assets include instruments valued based on quoted market prices in active markets which generally include corporate equity securities publicly traded on major exchanges. Time deposits are very short-term in nature and are accordingly valued at cost plus accrued interest, which approximates fair value, and are classified within Level 2 of the valuation hierarchy. The Company uses foreign currency futures contracts to minimize the risk caused by foreign currency fluctuation on its foreign currency receivables and payables by purchasing futures with one of its financial institutions. Futures are traded on regulated U.S. and international exchanges and represent commitments to purchase or sell a particular foreign currency at a future date and at a specific price. Aceto’s foreign currency derivative contracts are classified within Level 2 as the fair value of these hedges is primarily based on observable futures foreign exchange rates. At September 30, 2017, the Company had foreign currency contracts outstanding that had a notional amount of $48,816. Unrealized gains (losses) on hedging activities for the three months ended September 30, 2017 and 2016, was $295 and ($36), respectively, and are included in interest and other income, net, in the consolidated statements of income. The contracts have varying maturities of less than one year. In conjunction with its existing credit agreement (see Note 6), the Company entered into an interest rate swap on March 21, 2017 for an additional interest cost of 2.005% on a notional amount of $100,000, which has been designated as a cash flow hedge The expiration date of this interest rate swap is December 21, 2021. The remaining balance of this derivative as of September 30, 2017 is $92,500. The unrealized loss to date associated with this derivative, which is recorded in accumulated other comprehensive loss in the consolidated balance sheet at September 30, 2017, is $475. Aceto’s interest rate swaps are classified within Level 2 as the fair value of this hedge is primarily based on observable interest rates. At September 30, 2017, the Company had $3,077 of contingent consideration, $2,924 of which related to the acquisition of certain products and related assets of Citron and Lucid, which was completed in December 2016 (see Note 2) and $153 of contingent consideration related to a previously acquired company in France. At September 30, 2016, the Company had $135 of contingent consideration related to a previously acquired company in France. The contingent consideration was calculated using the present value of a probability weighted income approach. During the fourth quarter of each year, the Company evaluates goodwill for impairment at the reporting unit level using a market participant approach using Level 3 inputs. Additionally, on a nonrecurring basis, the Company uses fair value measures when analyzing asset impairment. Long-lived assets and certain identifiable intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If it is determined such indicators are present and the review indicates that the assets will not be fully recoverable, based on undiscounted estimated cash flows over the remaining amortization periods, their carrying values are reduced to estimated fair value. Measurements based on undiscounted cash flows are considered to be Level 3 inputs. In connection with the acquisition of certain products and related assets of Citron and Lucid (see Note 2), the Company will issue 5,122 shares of Aceto common stock beginning on December 21, 2019. The preliminary fair value of the future issuance of these shares was determined to be $90,400 at the time of the product acquisition after taking into effect that the shares won’t be issued until the third and fourth anniversary of the closing and the present value calculation of dividends. In November 2015, the Company issued $143,750 aggregate principal amount of Notes (see Note 6). Since Aceto has the option to settle the potential conversion of the Notes in cash, the Company separated the embedded conversion option feature from the debt feature and accounts for each component separately, based on the fair value of the debt component assuming no conversion option. The calculation of the fair value of the debt component required the use of Level 3 inputs, and was determined by calculating the fair value of similar non-convertible debt, using a theoretical borrowing rate of 6.5%. The value of the embedded conversion option was determined using an expected present value technique (income approach) to estimate the fair value of similar non-convertible debt onvertible investors’ credit assumptions and high yield bond indices. The Notes approximate a full fair value of $129,000 at September 30, 2017 giving effect to certain factors, including the term of the Notes, current stock price of Aceto stock and effective interest rate. The carrying values of all financial instruments classified as a current asset or current liability are deemed to approximate fair value because of the short maturity of these instruments. The fair values of the Company’s notes receivable and short-term and long-term bank loans were based upon current rates offered for similar financial instruments to the Company. The following tables summarize the valuation of the Company’s financial assets and liabilities which were determined by using the following inputs at September 30, 2017 and June 30, 2017: Fair Value Measurements at September 30, 2017 Using Quoted Prices Significant Significant Total Cash equivalents: Time deposits - $ 5,970 - $ 5,970 Investments: Time deposits - 3,048 - 3,048 Foreign currency contracts-assets (1) - 529 - 529 Foreign currency contracts-liabilities (2) - 232 - 232 Derivative liability for interest rate swap (3) - 475 - 475 Contingent consideration (4) - - $ 3,077 3,077 (1) Included in “Other receivables” in the accompanying Condensed Consolidated Balance Sheet as of September 30, 2017. (2) Included in “Accrued expenses” in the accompanying Condensed Consolidated Balance Sheet as of September 30, 2017. (3) Included in “Long-term liabilities” in the accompanying Condensed Consolidated Balance Sheet as of September 30, 2017. (4) $153 included in “Accrued expenses” and $2,924 included in “Long-term liabilities” in the accompanying Condensed Consolidated Balance Sheet as of September 30, 2017. Fair Value Measurements at June 30, 2017 Using Quoted Prices Significant Significant Total Cash equivalents: Time deposits - $ 5,781 - $ 5,781 Investments: Time deposits - 2,046 - 2,046 Foreign currency contracts-assets (5) - 486 - 486 Foreign currency contracts-liabilities (6) - 137 - 137 Derivative liability for interest rate swap(7) - 581 - 581 Contingent consideration (8) - - $ 2,952 2,952 (5) Included in “Other receivables” in the accompanying Condensed Consolidated Balance Sheet as of June 30, 2017. (6) Included in “Accrued expenses” in the accompanying Condensed Consolidated Balance Sheet as of June 30, 2017. (7) Included in “Long-term liabilities” in the accompanying Condensed Consolidated Balance Sheet as of June 30, 2017. (8) $145 included in “Accrued expenses” and $2,807 included in “Long-term liabilities” in the accompanying Condensed Consolidated Balance Sheet as of June 30, 2017.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Sep. 30, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	(9) Recent Accounting Pronouncements In August 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities In May 2017, the FASB issued ASU 2017-09, Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting, In January 2017, the FASB issued ASU 2017-04 Intangibles - Goodwill and Other (Topic 350) In January 2017, the FASB issued ASU 2017-01 Business Combinations (Topic 805): Clarifying the Definition of a Business In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740) Balance Sheet Classification of Deferred Assets. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330) Simplifying the Measurement of Inventory. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606),

Segment Information

Segment Information	3 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segment Information	(10) Segment Information The Company's business is organized along product lines into three principal segments: Human Health, Pharmaceutical Ingredients and Performance Chemicals. Human Health Pharmaceutical Ingredients – Performance Chemicals Agricultural Protection Products include herbicides, fungicides and insecticides that control weed growth as well as control the spread of insects and other microorganisms that can severely damage plant growth. The Company's chief operating decision maker evaluates performance of the segments based on net sales, gross profit and income before income taxes. Unallocated corporate amounts are deemed by the Company as administrative, oversight costs, not managed by the segment managers. The Company does not allocate assets by segment because the chief operating decision maker does not review the assets by segment to assess the segments' performance, as the assets are managed on an entity-wide basis. During all periods presented, our chief operating decision maker has been the Chief Executive Officer of the Company. In accordance with GAAP, the Company has aggregated certain operating segments into reportable segments because they have similar economic characteristics, and the operating segments are similar in all of the following areas: (a) the nature of the products and services; (b) the nature of the production processes; (c) the type or class of customer for their products and services; (d) the methods used to distribute their products or provide their services; and (e) the nature of the regulatory environment. Three months Ended September 30, 2017 and 2016: Human Pharmaceutical Performance Unallocated Consolidated 2017 Net sales $ 106,015 $ 36,576 $ 42,664 $ - $ 185,255 Gross profit 24,647 5,840 9,496 - 39,983 Income (loss) before income taxes 5,026 2,231 4,945 (10,064 ) 2,138 2016 Net sales $ 47,889 $ 40,616 $ 39,513 $ - $ 128,018 Gross profit 14,205 6,954 9,680 - 30,839 Income (loss) before income taxes 3,972 3,067 4,832 (5,091 ) 6,780

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements of Aceto Corporation and subsidiaries (“Aceto” or the “Company”) included herein have been prepared by the Company and reflect all adjustments (consisting solely of normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for all periods presented. Interim results are not necessarily indicative of results which may be achieved for the full year. The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses reported in those financial statements and the disclosure of contingent assets and liabilities at the date of the financial statements. These judgments can be subjective and complex, and consequently actual results could differ from those estimates and assumptions. The Company’s most critical accounting policies relate to revenue recognition; allowance for doubtful accounts; inventory; goodwill and other indefinite-life intangible assets; long-lived assets; environmental matters and other contingencies; income taxes; stock-based compensation; and purchase price allocation. These condensed consolidated financial statements do not include all disclosures associated with consolidated financial statements prepared in accordance with GAAP. Accordingly, these statements should be read in conjunction with the Company’s consolidated financial statements and notes thereto contained in the Company’s Form 10-K for the year ended June 30, 2017.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities In May 2017, the FASB issued ASU 2017-09, Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting, In January 2017, the FASB issued ASU 2017-04 Intangibles - Goodwill and Other (Topic 350) In January 2017, the FASB issued ASU 2017-01 Business Combinations (Topic 805): Clarifying the Definition of a Business In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740) Balance Sheet Classification of Deferred Assets. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330) Simplifying the Measurement of Inventory. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606),

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	3 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Schedule of reconciliation of weighted average shares outstanding and diluted weighted average shares outstanding	Three Months Ended September 30, 2017 2016 Weighted average shares outstanding 34,975 29,518 Dilutive effect of stock options and restricted stock awards and units 284 322 Diluted weighted average shares outstanding 35,259 29,840

Debt (Tables)

Debt (Tables)	3 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of long-term debt	September 30, 2017 June 30, 2017 Convertible Senior Notes, net $ 123,189 $ 121,676 Revolving Bank Loans 70,000 90,000 Term Bank Loans 135,660 139,227 Mortgage 2,730 2,763 331,579 353,666 Less current portion 14,482 14,466 $ 317,097 $ 339,200
Schedule of carrying value of convertible senior notes	September 30, 2017 June 30, 2017 Principal amount $ 143,750 $ 143,750 Unamortized debt discount (17,951 ) (19,255 ) Unamortized debt issuance costs (2,610 ) (2,819 ) Net carrying value $ 123,189 $ 121,676
Schedule of components of total interest expense related to notes	2017 2016 Contractual coupon $ 709 $ 725 Amortization of debt discount 1,304 1,223 Amortization of debt issuance costs 209 209 $ 2,222 $ 2,157

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of summary of valuation of financial assets and liabilities	Fair Value Measurements at September 30, 2017 Using Quoted Prices Significant Significant Total Cash equivalents: Time deposits - $ 5,970 - $ 5,970 Investments: Time deposits - 3,048 - 3,048 Foreign currency contracts-assets (1) - 529 - 529 Foreign currency contracts-liabilities (2) - 232 - 232 Derivative liability for interest rate swap (3) - 475 - 475 Contingent consideration (4) - - $ 3,077 3,077 (1) Included in “Other receivables” in the accompanying Condensed Consolidated Balance Sheet as of September 30, 2017. (2) Included in “Accrued expenses” in the accompanying Condensed Consolidated Balance Sheet as of September 30, 2017. (3) Included in “Long-term liabilities” in the accompanying Condensed Consolidated Balance Sheet as of September 30, 2017. (4) $153 included in “Accrued expenses” and $2,924 included in “Long-term liabilities” in the accompanying Condensed Consolidated Balance Sheet as of September 30, 2017. Fair Value Measurements at June 30, 2017 Using Quoted Prices Significant Significant Total Cash equivalents: Time deposits - $ 5,781 - $ 5,781 Investments: Time deposits - 2,046 - 2,046 Foreign currency contracts-assets (5) - 486 - 486 Foreign currency contracts-liabilities (6) - 137 - 137 Derivative liability for interest rate swap(7) - 581 - 581 Contingent consideration (8) - - $ 2,952 2,952 (5) Included in “Other receivables” in the accompanying Condensed Consolidated Balance Sheet as of June 30, 2017. (6) Included in “Accrued expenses” in the accompanying Condensed Consolidated Balance Sheet as of June 30, 2017. (7) Included in “Long-term liabilities” in the accompanying Condensed Consolidated Balance Sheet as of June 30, 2017. (8) $145 included in “Accrued expenses” and $2,807 included in “Long-term liabilities” in the accompanying Condensed Consolidated Balance Sheet as of June 30, 2017.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Schedule of segment performance measures	Human Pharmaceutical Performance Unallocated Consolidated 2017 Net sales $ 106,015 $ 36,576 $ 42,664 $ - $ 185,255 Gross profit 24,647 5,840 9,496 - 39,983 Income (loss) before income taxes 5,026 2,231 4,945 (10,064 ) 2,138 2016 Net sales $ 47,889 $ 40,616 $ 39,513 $ - $ 128,018 Gross profit 14,205 6,954 9,680 - 30,839 Income (loss) before income taxes 3,972 3,067 4,832 (5,091 ) 6,780

Business Combinations (Narrativ

Business Combinations (Narrative) (Detail) shares in Thousands, $ in Thousands	1 Months Ended
	Dec. 21, 2016USD ($)ContractSubsidiaryshares	Sep. 30, 2017USD ($)
Business Acquisition [Line Items]
Contingent consideration		$ 3,077
Citron and Lucid
Business Acquisition [Line Items]
Number of national contracts with the Federal Government | Contract	18
Term of national contracts	5 years
Cash paid	$ 270,000
Deferred payment	$ 50,000
Interest rate	5.00%
Number of shares to be issued | shares	5,122
Purchase price, earn-out period	5 years
Purchase price, earn-out amount	$ 50,000
Contingent consideration		$ 2,924
Rising Pharmaceuticals, Inc.
Business Acquisition [Line Items]
Number of subsidiary | Subsidiary	2

Stock Based Compensation (Narra

Stock Based Compensation (Narrative) (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017	Dec. 15, 2015	Dec. 06, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 3,146	$ 1,664
Total unrecognized stock-based compensation cost	10,168
2015 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares of common stock that may be issued				4,250
2010 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares of common stock that may be issued					5,250
Chief executive officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 2,017
Restricted stock | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock granted, shares	337		277
Restricted stock, vesting period	3 years		3 years
Restricted stock | Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock granted, shares			22
Restricted stock, vesting period			1 year
Restricted stock units | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock granted, shares			42
Performance-vested restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock granted, shares	168		160
Restricted stock, vesting period	3 years		3 years
Upper limit of target grant, shares	294		280
Performance-vested restricted stock units, vesting percentage at the end of third year	100.00%		100.00%
Restricted common stock and restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 3,132	$ 1,659

Capital Stock (Narrative) (Deta

Capital Stock (Narrative) (Detail) - $ / shares shares in Thousands	1 Months Ended
	Aug. 24, 2017	Sep. 30, 2017	Jun. 30, 2017	May 04, 2017
Dividends Payable [Line Items]
Common stock, shares authorized		75,000	75,000
Preferred stock, shares authorized		2,000	2,000
Dividends declared, per share amount	$ 0.065
Dividends declared, date of declaration	Aug. 24, 2017
Dividend paid, date	Sep. 21, 2017
Dividends declared, date of record	Sep. 8, 2017
Stock repurchase program
Dividends Payable [Line Items]
Number of shares authorized to be repurchased				5,000

Net Income Per Common Share (Re

Net Income Per Common Share (Reconciliation of Weighted Average Shares Outstanding and Diluted Weighted Average Shares Outstanding) (Detail) - shares shares in Thousands	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Weighted average shares outstanding	34,975	29,518
Dilutive effect of stock options and restricted stock awards and units	284	322
Diluted weighted average shares outstanding	35,259	29,840

Net Income Per Common Share (Na

Net Income Per Common Share (Narrative) (Detail) - $ / shares shares in Thousands	1 Months Ended	3 Months Ended
	Dec. 21, 2016	Sep. 30, 2017	Nov. 30, 2015
Net Income Per Common Share [Line Items]
Common equivalent shares outstanding not included in calculation of diluted net income per common share		61
Citron and Lucid
Net Income Per Common Share [Line Items]
Number of shares issued in connection with acquisition included in weighted average shares outstanding	5,122
Convertible Senior Notes
Net Income Per Common Share [Line Items]
Senior notes, initial conversion price per share			$ 33.215

Debt (Summary of Long-term Debt

Debt (Summary of Long-term Debt) (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017
Debt Instrument [Line Items]
Mortgage	$ 2,730	$ 2,763
Long-term debt including current portion	331,579	353,666
Less current portion	14,482	14,466
Long-term debt, net	317,097	339,200
Convertible Senior Notes, net
Debt Instrument [Line Items]
Long-term debt including current portion	123,189	121,676
Revolving Bank Loans
Debt Instrument [Line Items]
Long-term debt including current portion	70,000	90,000
Term Bank Loans
Debt Instrument [Line Items]
Long-term debt including current portion	$ 135,660	$ 139,227

Debt (Summary carrying value of

Debt (Summary carrying value of Notes) (Detail 1) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017
Debt Instrument [Line Items]
Net carrying value	$ 331,579	$ 353,666
Convertible Senior Notes, net
Debt Instrument [Line Items]
Principal amount	143,750	143,750
Unamortized debt discount	(17,951)	(19,255)
Unamortized debt issuance costs	(2,610)	(2,819)
Net carrying value	$ 123,189	$ 121,676

Debt (Summary interest expense

Debt (Summary interest expense related to notes recognized) (Detail 2) - Interest expense - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Debt Instrument [Line Items]
Contractual coupon	$ 709	$ 725
Amortization of debt discount	1,304	1,223
Amortization of debt issuance costs	209	209
Interest expense	$ 2,222	$ 2,157

Debt (Narrative) (Detail)

Debt (Narrative) (Detail) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended
	Nov. 30, 2015USD ($)Share$ / shares	Sep. 30, 2017USD ($)Day
Debt Instrument [Line Items]
Aggregate principal amount	$ 143,750
Convertible Senior Notes, net
Debt Instrument [Line Items]
Aggregate principal amount	125,000
Aggregate principal amount of additional convertible debt	18,750
Aggregate proceeds from convertible senior notes	$ 143,750
Debt interest rate	2.00%
Number of common stock issue in conversion debt | Share	4,328
Senior notes, initial conversion price per share | $ / shares	$ 33.215
Threshold multiple for debt conversion of notes		$ 1,000
Threshold trading days for convertible debt | Day		20
Threshold consecutive trading days for convertible debt | Day		30
Percentage of minimum stock price trigger for conversion		130.00%
Maximum calculated percentage to which trading price of notes is compared in order to trigger conversion feature of notes		98.00%

Debt (Narrative) (Detail 1)

Debt (Narrative) (Detail 1) $ in Thousands	1 Months Ended
	Dec. 21, 2016USD ($)InstallmentEntity	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Aug. 26, 2016USD ($)
Debt Instrument [Line Items]
Borrowed loans		$ 331,579	$ 353,666
Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Number of banks | Entity	11
Revolving Bank Loans
Debt Instrument [Line Items]
Borrowed loans		$ 70,000	90,000
Revolving Bank Loans | Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Aggregate revolving commitment	$ 225,000			$ 150,000
Maturity date description	Maturity Date shall mean the date that is 91 days prior to the 2015 Convertible Maturity Date
Revolving Bank Loans | Amended and Restated Credit Agreement | Eurodollar Loan | Minimum
Debt Instrument [Line Items]
Debt interest rate		3.24%
Revolving Bank Loans | Amended and Restated Credit Agreement | Eurodollar Loan | Maximum
Debt Instrument [Line Items]
Debt interest rate		3.45%
Initial Term Loan
Debt Instrument [Line Items]
Borrowed loans		$ 135,660	$ 139,227
Number of installments | Installment	19
Frequency of periodic payment	Quarterly
Principal payment	$ 3,750
Short-term debt		15,000
Initial Term Loan | Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Borrowed loans	150,000
Aggregate amount increase	$ 100,000
Remaining amount outstanding		$ 138,750
Initial Term Loan | Amended and Restated Credit Agreement | Eurodollar Loan
Debt Instrument [Line Items]
Debt interest rate		3.33%

Debt (Narrative) (Detail 2)

Debt (Narrative) (Detail 2) - USD ($) $ in Thousands	1 Months Ended
	Jun. 30, 2011	Sep. 30, 2017	Jun. 30, 2017
Debt Instrument [Line Items]
Mortgage payable		$ 2,730	$ 2,763
Mortgage payable
Debt Instrument [Line Items]
Mortgage payable	$ 3,947
Mortgage payable, amortization period	20 years
Debt interest rate		4.92%

Commitments, Contingencies an33

Commitments, Contingencies and Other Matters (Narrative) (Detail) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2017USD ($)Entity	Sep. 30, 2016USD ($)	Jun. 30, 2009USD ($)	Jun. 30, 2017USD ($)
Commitments and Contingencies Disclosure [Line Items]
Environmental charge	$ 902	$ 170
PRP Group
Commitments and Contingencies Disclosure [Line Items]
Loss contingency, damages sought	1,700
Arsynco, Inc
Commitments and Contingencies Disclosure [Line Items]
Accrual for environmental loss contingencies	7,866			$ 8,451
Arsynco, Inc | Minimum
Commitments and Contingencies Disclosure [Line Items]
Estimated cost of environmental remediation obligations	21,500
Arsynco, Inc | Maximum
Commitments and Contingencies Disclosure [Line Items]
Estimated cost of environmental remediation obligations	23,300
BASF Corporation
Commitments and Contingencies Disclosure [Line Items]
Partial reimbursement of environmental remediation costs previously expensed			$ 550
Gain related to partial reimbursement			550
Environmental remediation costs expensed in prior years			$ 1,200
Future remediation costs receivable	3,540			$ 3,803
Subsidiary
Commitments and Contingencies Disclosure [Line Items]
Amount expected to be paid for product registrations and various task force groups	$ 2,357
Berry's Creek Study Area | Arsynco, Inc
Commitments and Contingencies Disclosure [Line Items]
Number of potentially responsible parties | Entity	150

Fair Value Measurements (Summar

Fair Value Measurements (Summary of Valuation of Financial Assets and Liabilities) (Detail 1) - USD ($) $ in Thousands	Sep. 30, 2017		Jun. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts-assets	$ 529	[1]	$ 486	[2]
Foreign currency contracts-liabilities	232	[3]	137	[4]
Derivative liability for interest rate swap	475	[5]	581	[6]
Contingent consideration	3,077	[7]	2,952	[8]
Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	5,970		5,781
Investments	3,048		2,046
Quoted Prices in Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts-assets		[1]		[2]
Foreign currency contracts-liabilities		[3]		[4]
Derivative liability for interest rate swap		[5]		[6]
Contingent consideration		[7]		[8]
Quoted Prices in Active Markets (Level 1) | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents
Investments
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts-assets	529	[1]	486	[2]
Foreign currency contracts-liabilities	232	[3]	137	[4]
Derivative liability for interest rate swap	475	[5]	581	[6]
Contingent consideration		[7]		[8]
Significant Other Observable Inputs (Level 2) | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	5,970		5,781
Investments	3,048		2,046
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts-assets		[1]		[2]
Foreign currency contracts-liabilities		[3]		[4]
Derivative liability for interest rate swap		[5]		[6]
Contingent consideration	3,077	[7]	2,952	[8]
Significant Unobservable Inputs (Level 3) | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents
Investments
[1]	Included in "Other receivables" in the accompanying Condensed Consolidated Balance Sheet as of September 30, 2017.
[2]	Included in "Other receivables" in the accompanying Condensed Consolidated Balance Sheet as of June 30, 2017.
[3]	Included in "Accrued expenses" in the accompanying Condensed Consolidated Balance Sheet as of September 30, 2017.
[4]	Included in "Accrued expenses" in the accompanying Condensed Consolidated Balance Sheet as of June 30, 2017.
[5]	Included in "Long-term liabilities" in the accompanying Condensed Consolidated Balance Sheet as of September 30, 2017.
[6]	Included in "Long-term liabilities" in the accompanying Condensed Consolidated Balance Sheet as of June 30, 2017.
[7]	$153 included in "Accrued expenses" and $2,924 included in "Long-term liabilities" in the accompanying Condensed Consolidated Balance Sheet as of September 30, 2017.
[8]	$145 included in "Accrued expenses" and $2,807 included in "Long-term liabilities" in the accompanying Condensed Consolidated Balance Sheet as of June 30, 2017.

Fair Value Measurements (Parent

Fair Value Measurements (Parentheticals) (Summary of Valuation of Financial Assets and Liabilities) (Detail 1) - USD ($) $ in Thousands	Sep. 30, 2017		Jun. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	$ 3,077	[1]	$ 2,952	[2]
Accrued expenses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	153		145
Long-term liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	$ 2,924		$ 2,807
[1]	$153 included in "Accrued expenses" and $2,924 included in "Long-term liabilities" in the accompanying Condensed Consolidated Balance Sheet as of September 30, 2017.
[2]	$145 included in "Accrued expenses" and $2,807 included in "Long-term liabilities" in the accompanying Condensed Consolidated Balance Sheet as of June 30, 2017.

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Detail) - USD ($) shares in Thousands, $ in Thousands	1 Months Ended		3 Months Ended
	Mar. 21, 2017	Dec. 21, 2016	Sep. 30, 2017	Sep. 30, 2016	Nov. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized loss on interest rate swap			$ (475)
Accrued contingent consideration			3,077
Aggregate principal amount					$ 143,750
Theoretical borrowing rate used to calculate fair value of debt					6.50%
Fair value of the notes			129,000
Fair value of future issuance of shares			90,400
Foreign currency contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, notional amount			48,816
Unrealized losses on hedging activities			295	$ (36)
Cash flow hedging | December 21, 2021 | Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Additional interest cost rate of derivative	2.005%
Derivative, notional amount	$ 100,000
Derivative, expiration date	Dec. 21, 2021
Remaining balance of derivative			92,500
France Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accrued contingent consideration			153	$ 135
Citron and Lucid
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accrued contingent consideration			$ 2,924
Number of shares to be issued		5,122

Recent Accounting Pronounceme37

Recent Accounting Pronouncements (Narrative) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income tax provision	$ 1,684	$ 2,395
ASU 2016-09 Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income tax provision	$ 1,128
Effect on financial statements	Yes

Segment Information (Summary of

Segment Information (Summary of Segment Perfomance Measures by Segment) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Net sales	$ 185,255	$ 128,018
Gross profit	39,983	30,839
Income (loss) before income taxes	2,138	6,780
Operating Segments | Human Health
Segment Reporting Information [Line Items]
Net sales	106,015	47,889
Gross profit	24,647	14,205
Income (loss) before income taxes	5,026	3,972
Operating Segments | Pharmaceutical Ingredients
Segment Reporting Information [Line Items]
Net sales	36,576	40,616
Gross profit	5,840	6,954
Income (loss) before income taxes	2,231	3,067
Operating Segments | Performance Chemicals
Segment Reporting Information [Line Items]
Net sales	42,664	39,513
Gross profit	9,496	9,680
Income (loss) before income taxes	4,945	4,832
Unallocated Corporate
Segment Reporting Information [Line Items]
Net sales
Gross profit
Income (loss) before income taxes	$ (10,064)	$ (5,091)

Segment Information (Narrative)

Segment Information (Narrative) (Detail)	3 Months Ended
	Sep. 30, 2017Segment
Segment Reporting [Abstract]
Number of operating segments	3