John B. Sanfilippo & Son (JBSS) 10-Q 1 May 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 28, 2019	Apr. 24, 2019
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 28, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Trading Symbol	JBSS
Entity Registrant Name	SANFILIPPO JOHN B & SON INC
Entity Central Index Key	0000880117
Current Fiscal Year End Date	--06-27
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Common Stock, Non-Cumulative Voting Rights of One Vote Per Share [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		8,791,506
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,597,426

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 28, 2019	Mar. 29, 2018	Mar. 28, 2019	Mar. 29, 2018
Statement of Comprehensive Income [Abstract]
Net sales	$ 201,834	$ 202,786	$ 659,439	$ 677,255
Cost of sales	163,019	169,679	544,787	571,296
Gross profit	38,815	33,107	114,652	105,959
Operating expenses:
Selling expenses	13,810	11,626	46,070	38,415
Administrative expenses	9,597	7,457	26,482	21,803
Total operating expenses	23,407	19,083	72,552	60,218
Income from operations	15,408	14,024	42,100	45,741
Other expense:
Interest expense including $278, $340, $880 and $779 to related parties	788	1,004	2,465	2,590
Rental and miscellaneous expense, net	324	329	891	1,192
Other expense	487	492	1,460	1,477
Total other expense, net	1,599	1,825	4,816	5,259
Income before income taxes	13,809	12,199	37,284	40,482
Income tax expense	3,478	3,647	9,083	13,610
Net income	10,331	8,552	28,201	26,872
Other comprehensive income:
Amortization of prior service cost and actuarial loss included in net periodic pension cost	263	279	789	839
Income tax expense related to pension adjustments	(66)	(69)	(198)	(288)
Other comprehensive income, net of tax	197	210	591	551
Comprehensive income	$ 10,528	$ 8,762	$ 28,792	$ 27,423
Net income per common share-basic	$ 0.90	$ 0.75	$ 2.47	$ 2.36
Net income per common share-diluted	$ 0.90	$ 0.75	$ 2.45	$ 2.35

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 28, 2019	Mar. 29, 2018	Mar. 28, 2019	Mar. 29, 2018
Statement of Comprehensive Income [Abstract]
Interest expense to related parties	$ 278	$ 340	$ 880	$ 779

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 28, 2019	Jun. 28, 2018	Mar. 29, 2018
CURRENT ASSETS:
Cash	$ 1,090	$ 1,449	$ 1,013
Accounts receivable, less allowance for doubtful accounts of $324, $270 and $286	57,768	65,426	65,129
Inventories	178,909	174,362	184,770
Prepaid expenses and other current assets	6,168	6,645	7,560
TOTAL CURRENT ASSETS	243,935	247,882	258,472
PROPERTY, PLANT AND EQUIPMENT:
Land	9,285	9,285	9,285
Buildings	109,328	108,540	108,148
Machinery and equipment	207,769	198,321	198,990
Furniture and leasehold improvements	5,058	5,015	4,970
Vehicles	643	526	535
Construction in progress	3,488	2,618	1,757
Property, plant and equipment gross	335,571	324,305	323,685
Less: Accumulated depreciation	225,626	217,689	217,135
Property, plant and equipment net	109,945	106,616	106,550
Rental investment property, less accumulated depreciation of $11,022, $10,431 and $10,233	17,956	18,462	18,660
TOTAL PROPERTY, PLANT AND EQUIPMENT	127,901	125,078	125,210
Cash surrender value of officers' life insurance and other assets	8,412	10,565	8,846
Deferred income taxes	4,553	5,024	5,579
Goodwill	9,650	9,650	9,650
Intangible assets, net	15,298	17,654	18,499
TOTAL ASSETS	409,749	415,853	426,256
CURRENT LIABILITIES:
Revolving credit facility borrowings	35,099	31,278	56,579
Current maturities of long-term debt, including related party debt of $4,369, $4,341 and $4,332 and net of unamortized debt issuance costs of $37, $45 and $47	7,297	7,169	7,128
Accounts payable	45,158	60,340	48,075
Bank overdraft	1,722	2,062	3,520
Accrued payroll and related benefits	14,744	6,415	7,530
Other accrued expenses	10,348	9,929	9,552
TOTAL CURRENT LIABILITIES	114,368	117,193	132,384
LONG-TERM LIABILITIES:
Long-term debt, less current maturities, including related party debt of $12,227, $15,507 and $16,596 and net of unamortized debt issuance costs of $52, $79 and $89	21,867	27,356	29,164
Retirement plan	21,926	21,288	21,597
Other	7,170	7,014	7,025
TOTAL LONG-TERM LIABILITIES	50,963	55,658	57,786
TOTAL LIABILITIES	165,331	172,851	190,170
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Capital in excess of par value	121,650	119,952	119,336
Retained earnings	126,447	127,320	121,692
Accumulated other comprehensive loss	(2,590)	(3,181)	(3,853)
Treasury stock, at cost; 117,900 shares of Common Stock	(1,204)	(1,204)	(1,204)
TOTAL STOCKHOLDERS' EQUITY	244,418	243,002	236,086
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	409,749	415,853	426,256
Class A Common Stock [Member]
STOCKHOLDERS' EQUITY:
Common Stock	26	26	26
TOTAL STOCKHOLDERS' EQUITY	26	26	26
Common Stock, Non-Cumulative Voting Rights of One Vote Per Share [Member]
STOCKHOLDERS' EQUITY:
Common Stock	89	89	89
TOTAL STOCKHOLDERS' EQUITY	$ 89	$ 89	$ 89

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 28, 2019	Jun. 28, 2018	Mar. 29, 2018
Allowance for doubtful accounts for accounts receivable, current	$ 324	$ 270	$ 286
Accumulated depreciation of rental investment property	11,022	10,431	10,233
Current maturities of long-term debt, related party debt	4,369	4,341	4,332
Unamortized debt issuance costs, current	37	45	47
Related party debt, Non-current	12,227	15,507	16,596
Unamortized debt issuance costs, noncurrent	$ 52	$ 79	$ 89
Treasury stock, shares	117,900	117,900	117,900
Class A Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	10,000,000	10,000,000	10,000,000
Common stock, shares issued	2,597,426	2,597,426	2,597,426
Common stock, shares outstanding	2,597,426	2,597,426	2,597,426
Common Stock, Non-Cumulative Voting Rights of One Vote Per Share [Member]
Common stock, par value	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	17,000,000	17,000,000	17,000,000
Common stock, shares issued	8,909,406	8,865,475	8,865,475

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Capital in Excess of Par Value [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Treasury Stock [Member]	Class A Common Stock [Member]	Common Stock, Non-Cumulative Voting Rights of One Vote Per Share [Member]
Balance at Jun. 29, 2017	$ 235,468	$ 117,772	$ 123,190	$ (4,404)	$ (1,204)	$ 26	$ 88
Balance, Shares at Jun. 29, 2017						2,597,426	8,801,641
Net income	10,711		10,711
Cash dividends	(28,370)		(28,370)
Pension liability amortization, net of income tax (expense)	171			171
Equity award exercises, net of shares withheld for employee taxes	16	16
Equity award exercises, net of shares withheld for employee taxes, shares							16,242
Stock-based compensation expense	538	538
Balance at Sep. 28, 2017	218,534	118,326	105,531	(4,233)	(1,204)	$ 26	$ 88
Balance, Shares at Sep. 28, 2017						2,597,426	8,817,883
Balance at Jun. 29, 2017	235,468	117,772	123,190	(4,404)	(1,204)	$ 26	$ 88
Balance, Shares at Jun. 29, 2017						2,597,426	8,801,641
Net income	26,872
Balance at Mar. 29, 2018	236,086	119,336	121,692	(3,853)	(1,204)	$ 26	$ 89
Balance, Shares at Mar. 29, 2018						2,597,426	8,865,475
Balance at Sep. 28, 2017	218,534	118,326	105,531	(4,233)	(1,204)	$ 26	$ 88
Balance, Shares at Sep. 28, 2017						2,597,426	8,817,883
Net income	7,609		7,609
Pension liability amortization, net of income tax (expense)	170			170
Equity award exercises, net of shares withheld for employee taxes	(631)	(632)					$ 1
Equity award exercises, net of shares withheld for employee taxes, shares							41,214
Stock-based compensation expense	891	891
Balance at Dec. 28, 2017	226,573	118,585	113,140	(4,063)	(1,204)	$ 26	$ 89
Balance, Shares at Dec. 28, 2017						2,597,426	8,859,097
Net income	8,552		8,552
Pension liability amortization, net of income tax (expense)	210			210
Equity award exercises, net of shares withheld for employee taxes, shares							6,378
Stock-based compensation expense	751	751
Balance at Mar. 29, 2018	236,086	119,336	121,692	(3,853)	(1,204)	$ 26	$ 89
Balance, Shares at Mar. 29, 2018						2,597,426	8,865,475
Balance at Jun. 28, 2018	243,002	119,952	127,320	(3,181)	(1,204)	$ 26	$ 89
Balance, Shares at Jun. 28, 2018						2,597,426	8,865,475
Net income	6,606		6,606
Cash dividends	(29,074)		(29,074)
Pension liability amortization, net of income tax (expense)	197			197
Stock-based compensation expense	616	616
Balance at Sep. 27, 2018	221,347	120,568	104,852	(2,984)	(1,204)	$ 26	$ 89
Balance, Shares at Sep. 27, 2018						2,597,426	8,865,475
Balance at Jun. 28, 2018	243,002	119,952	127,320	(3,181)	(1,204)	$ 26	$ 89
Balance, Shares at Jun. 28, 2018						2,597,426	8,865,475
Net income	28,201
Balance at Mar. 28, 2019	244,418	121,650	126,447	(2,590)	(1,204)	$ 26	$ 89
Balance, Shares at Mar. 28, 2019						2,597,426	8,909,406
Balance at Sep. 27, 2018	221,347	120,568	104,852	(2,984)	(1,204)	$ 26	$ 89
Balance, Shares at Sep. 27, 2018						2,597,426	8,865,475
Net income	11,264		11,264
Pension liability amortization, net of income tax (expense)	197			197
Equity award exercises, net of shares withheld for employee taxes	(335)	(335)
Equity award exercises, net of shares withheld for employee taxes, shares							33,352
Stock-based compensation expense	900	900
Balance at Dec. 27, 2018	233,373	121,133	116,116	(2,787)	(1,204)	$ 26	$ 89
Balance, Shares at Dec. 27, 2018						2,597,426	8,898,827
Net income	10,331		10,331
Pension liability amortization, net of income tax (expense)	197			197
Equity award exercises, net of shares withheld for employee taxes	(4)	(4)
Equity award exercises, net of shares withheld for employee taxes, shares							10,579
Stock-based compensation expense	521	521
Balance at Mar. 28, 2019	$ 244,418	$ 121,650	$ 126,447	$ (2,590)	$ (1,204)	$ 26	$ 89
Balance, Shares at Mar. 28, 2019						2,597,426	8,909,406

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Dec. 27, 2018	Sep. 27, 2018	Dec. 28, 2017	Sep. 28, 2017
Statement of Stockholders' Equity [Abstract]
Cash dividends per common share		$ 2.55		$ 2.50
Pension liability amortization income tax expense	$ (66)	$ (66)	$ (111)	$ (108)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 28, 2019	Mar. 29, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 28,201	$ 26,872
Depreciation and amortization	12,747	11,231
(Gain) loss on disposition of assets, net	(130)	414
Deferred income tax expense	471	3,516
Stock-based compensation expense	2,037	2,180
Change in assets and liabilities, net of business acquired:
Accounts receivable, net	7,763	2,048
Inventories	(4,547)	(393)
Prepaid expenses and other current assets	(884)	(2,518)
Accounts payable	(15,080)	(2,619)
Accrued expenses	8,270	(7,860)
Income taxes payable	1,839	(2,130)
Other long-term assets and liabilities	835	999
Other, net	1,295	1,325
Net cash provided by operating activities	42,817	33,065
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(12,080)	(9,060)
Acquisition of Squirrel Brand L.P.		(21,727)
Other	232	(66)
Net cash used in investing activities	(11,848)	(30,853)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net short-term borrowings	3,821	27,123
Principal payments on long-term debt	(5,396)	(3,880)
(Decrease) increase in bank overdraft	(340)	2,588
Dividends paid	(29,074)	(28,370)
Issuance of Common Stock under equity award plans		16
Taxes paid related to net share settlement of equity awards	(339)	(631)
Net cash used in financing activities	(31,328)	(3,154)
NET DECREASE IN CASH	(359)	(942)
Cash, beginning of period	1,449	1,955
Cash, end of period	$ 1,090	1,013
Supplemental disclosure of non-cash investing activities:
Acquisition of Squirrel Brand L.P. through note payable		$ 11,500

Basis of Presentation and Descr

Basis of Presentation and Description of Business	9 Months Ended
	Mar. 28, 2019
Accounting Policies [Abstract]
Basis of Presentation and Description of Business	Note 1 – Basis of Presentation and Description of Business As used herein, unless the context otherwise indicates, the terms “we”, “us”, “our” or “Company” collectively refer to John B. Sanfilippo & Son, Inc. and our wholly-owned subsidiary, JBSS Ventures, LLC. Our fiscal year ends on the final Thursday of June each year, and typically consists of fifty-two • References herein to fiscal 2019 and fiscal 2018 are to the fiscal year ending June 27, 2019 and the fiscal year ended June 28, 2018, respectively. • References herein to the third quarter of fiscal 2019 and fiscal 2018 are to the quarters ended March 28, 2019 and March 29, 2018, respectively. • References herein to the first three quarters or first thirty-nine weeks of fiscal 2019 and fiscal 2018 are to the thirty-nine weeks ended March 28, 2019 and March 29, 2018, respectively. We are one of the leading processors and distributors of peanuts, pecans, cashews, walnuts, almonds, and other nuts in the United States. These nuts are sold under a variety of private brands and under the Fisher, Orchard Valley Harvest, Squirrel Brand, Southern Style Nuts, Sunshine Country The accompanying unaudited financial statements fairly present the consolidated statements of comprehensive income, consolidated balance sheets, consolidated statements of stockholders’ equity and consolidated statements of cash flows, and reflect all adjustments, consisting only of normal recurring adjustments which are necessary for the fair statement of the results of the interim periods. Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. The interim results of operations are not necessarily indicative of the results to be expected for a full year. The balance sheet data as of June 28, 2018 was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”). Accordingly, these unaudited financial statements and related notes should be read in conjunction with the audited consolidated financial statements and notes thereto included in our 2018 Annual Report on Form 10-K

Revenue Recognition

Revenue Recognition	9 Months Ended
	Mar. 28, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Note 2 – Revenue Recognition On June 29, 2018 we adopted ASU No. 2014-09, Revenue from Contracts with Customers (“Topic 606”) Nature of Products We manufacture and sell the following: • branded products under our own proprietary brands to retailers on a national basis; • private label products to retailers, such as supermarkets, mass merchandisers, and specialty retailers, for resale under the retailers’ own or controlled labels; • private label and branded products to the foodservice industry, including foodservice distributors and national restaurant operators; • branded products under co-pack • products to our industrial customer base for repackaging in portion control packages and for use as ingredients by other food manufacturers. When Performance Obligations Are Satisfied A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account for revenue recognition. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The Company’s performance obligations are primarily for the delivery of raw and processed recipe and snack nuts, nut butters and trail mixes. Our customer contracts do not include more than one performance obligation. If a contract were to contain more than one performance obligation, we are required to allocate the contract’s transaction price to each performance obligation based on its relative standalone selling price. The standalone selling price for each distinct good is generally determined by directly observable data. Revenue recognition is generally completed at a point in time when product control is transferred to the customer. For approximately 99% of our revenues, control transfers to the customer when the product is shipped or delivered to the customer based upon applicable shipping terms, as the customer can then direct the use and obtain substantially all of the remaining benefits from the asset at that point in time. Therefore, for 99% of our revenues, the timing of revenue recognition requires minimal judgment and does not change compared to previous revenue recognition guidance. However, certain transactions within our contract packaging sales channel include contracts to develop, manufacture and deliver customized or proprietary products, which have no alternative use for the Company in the event the customer cancels the contract. In addition, for certain of these transactions the Company has the right to payment for performance completed to date. As a result, the revenue for products that are considered assets with no alternative use is now recognized over time. The value of these assets with no alternative use at period-end The performance obligations in our contracts are satisfied within one year, and typically much less. As such, we have not disclosed the transaction price allocated to remaining performance obligations for any periods presented. Significant Payment Terms Our customer contracts identify the product, quantity, price, payment and final delivery terms. Payment terms usually include early pay discounts. We grant payment terms consistent with industry standards. On a limited basis some payment terms may be extended, however, no payment terms beyond six months are granted at contract inception. The average customer payment is received within approximately 35 days of the invoice date. As a result, we do not adjust the promised amount of consideration for the effects of a significant financing component because the period between our transfer of a promised good or service to a customer and the customer’s payment for that good or service will be six months or less. Shipping All shipping and handling costs associated with outbound freight are accounted for as fulfillment costs and are included in selling expense. Variable Consideration Some of our products are sold through specific incentive programs consisting of promotional allowances, volume and customer rebates, in-store Trade promotions, consisting primarily of customer pricing allowances, merchandising funds and consumer coupons, are also offered through various programs to customers and consumers. A provision for estimated trade promotions is recorded as a reduction of revenue (and a reduction in the transaction price) in the same period when the sale is recognized. Revenues are also recorded net of expected customer deductions which are provided for based upon past experiences. Evaluating these estimates requires management judgment. We generally use the most likely amount method to determine the variable consideration. We believe there will not be significant changes to our estimates of variable consideration when any related uncertainties are resolved with our customers. The Company reviews and updates its estimates and related accruals of variable consideration and trade promotions at least quarterly based on the terms of the agreements and historical experience. Any uncertainties in the ultimate resolution of variable consideration due to factors outside of the Company’s influence are typically resolved within a short timeframe, therefore, no additional constraint on the variable consideration is required. Product Returns While customers generally have the right to return defective or non-conforming non-conforming Contract Balances Contract assets or liabilities result from transactions with revenue recorded over time. If the measure of remaining rights exceeds the measure of the remaining performance obligations, the Company records a contract asset. Conversely, if the measure of the remaining performance obligations exceeds the measure of the remaining rights, the Company records a contract liability. Contract asset balances at March 28, 2019, June 28, 2018 and March 29, 2018 were $358, $336, and $165, respectively, and are recorded in the caption “Prepaid expenses and other current assets” on the Consolidated Balance Sheets. The Company generally does not have material deferred revenue or contract liability balances arising from transactions with customers. Contract Costs The Company does not incur significant fulfillment costs requiring capitalization. Disaggregation of Revenue Revenue disaggregated by sales channel is as follows: For the Quarter Ended For the Thirty-Nine Weeks Ended Distribution Channel March 28, 2019 March 29, 2018 March 28, 2019 March 29, 2018 Consumer $ 142,011 $ 134,994 $ 477,381 $ 452,495 Commercial Ingredients 32,219 38,943 100,427 110,930 Contract Packaging 27,604 28,849 81,631 113,830 Total $ 201,834 $ 202,786 $ 659,439 $ 677,255 Impact of Adoption The Company adopted Topic 606 using the full retrospective basis on June 29, 2018. The prior period comparative information has been recast to reflect the requirements of Topic 606. The impact of Topic 606 on the Consolidated Statement of Comprehensive Income for the quarter and thirty-nine weeks ended March 29, 2018 were as follows: Quarter-Ended March 29, 2018 as Impact of As Adjusted Net sales $ 203,181 $ (395 ) $ 202,786 Gross profit 33,186 (79 ) 33,107 Income from operations 14,103 (79 ) 14,024 Net income $ 8,631 $ (79 ) $ 8,552 Earnings per share-basic $ 0.76 $ (0.01 ) $ 0.75 Earnings per share-diluted $ 0.75 $ — $ 0.75 Thirty-Nine Weeks ended March 29, 2018 as Impact of As Adjusted Net sales $ 677,090 $ 165 $ 677,255 Gross profit 105,906 53 105,959 Income from operations 45,688 53 45,741 Net income $ 26,819 $ 53 $ 26,872 Earnings per share-basic $ 2.36 $ — $ 2.36 Earnings per share-diluted $ 2.34 $ 0.01 $ 2.35 The impact of Topic 606 on the comparative Consolidated Balance Sheet and Consolidated Statement of Cash Flows was not material.

Inventories

Inventories	9 Months Ended
	Mar. 28, 2019
Inventory Disclosure [Abstract]
Inventories	Note 3 – Inventories Inventories consist of the following: March 28, 2019 June 28, 2018 March 29, 2018 Raw material and supplies $ 84,270 $ 73,209 $ 103,332 Work-in-process 94,639 101,153 81,438 Total $ 178,909 $ 174,362 $ 184,770

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Mar. 28, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 4 – Goodwill and Intangible Assets Identifiable intangible assets that are subject to amortization consist of the following: March 28, June 28, March 29, Customer relationships $ 21,100 $ 21,100 $ 21,100 Brand names 16,990 16,990 16,990 Non-compete 270 270 270 38,360 38,360 38,360 Less accumulated amortization: Customer relationships (13,980 ) (12,182 ) (11,523 ) Brand names (9,010 ) (8,492 ) (8,320 ) Non-compete (72 ) (32 ) (18 ) (23,062 ) (20,706 ) (19,861 ) Net intangible assets $ 15,298 $ 17,654 $ 18,499 Customer relationships are being amortized on an accelerated basis. The brand names consist of the Squirrel Brand Southern Style Nuts Total amortization expense related to intangible assets, which is recorded within Administrative expense, was $672 and $2,356 for the quarter and thirty-nine weeks ended March 28, 2019, respectively. Amortization expense for the remainder of fiscal 2019, based on our purchase price allocation, is expected to be approximately $672 and expected amortization expense the next five fiscal years is as follows: Fiscal year ending June 25, 2020 $ 2,501 June 24, 2021 2,165 June 30, 2022 1,896 June 29, 2023 1,657 June 27, 2024 1,414 Our goodwill of $9,650 relates entirely to the Squirrel Brand acquisition (the “Acquisition”) completed in the second quarter of fiscal 2018. There was no change in the carrying amount of goodwill during the thirty-nine weeks ended March 28, 2019.

Credit Facility

Credit Facility	9 Months Ended
	Mar. 28, 2019
Debt Disclosure [Abstract]
Credit Facility	Note 5 – Credit Facility On February 7, 2008, we entered into a Credit Agreement with a bank group providing a $117,500 revolving loan commitment and letter of credit subfacility (the “Credit Facility”). The Credit Facility is secured by substantially all our assets other than real property and fixtures. At March 28, 2019, we had $79,351 of available credit under the Credit Facility which reflects borrowings of $35,099 and reduced availability as a result of $3,050 in outstanding letters of credit. As of March 28, 2019, we were in compliance with all financial covenants under the Credit Facility and Mortgage Facility.

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Mar. 28, 2019
Earnings Per Share [Abstract]
Earnings Per Common Share	Note 6 – Earnings Per Common Share The following table presents the reconciliation of the weighted average shares outstanding used in computing basic and diluted earnings per share: For the Quarter Ended For the Thirty-Nine Weeks Ended March 28, 2019 March 29, 2018 March 28, 2019 March 29, 2018 Weighted average number of shares outstanding – basic 11,444,560 11,399,492 11,425,378 11,375,437 Effect of dilutive securities: Stock options and restricted stock units 64,333 54,056 68,040 65,234 Weighted average number of shares outstanding – diluted 11,508,893 11,453,548 11,493,418 11,440,671 There were no anti-dilutive awards excluded from the computation of diluted earnings per share for any of the above periods presented.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	9 Months Ended
	Mar. 28, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Plans	Note 7 – Stock-Based Compensation Plans The following is a summary of restricted stock unit (“RSU”) activity for the first thirty-nine weeks of fiscal 2019: Restricted Stock Units Shares Weighted Outstanding at June 28, 2018 189,068 $ 46.35 Activity: Granted 56,700 57.22 Vested (a) (49,179 ) 55.79 Forfeited (6,925 ) 57.34 Outstanding at March 28, 2019 189,664 $ 46.75 (a) The number of RSUs vested includes shares that were withheld on behalf of employees to satisfy the statutory tax withholding requirements. At March 28, 2019, there are 55,628 RSUs outstanding that are vested but deferred. The following table summarizes compensation expense charged to earnings for all equity compensation plans for the periods presented: For the Quarter Ended For the Thirty-Nine Weeks Ended March 28, 2019 March 29, 2018 March 28, 2019 March 29, 2018 Stock-based compensation expense $ 521 $ 751 $ 2,037 $ 2,180 As of March 28, 2019, there was $4,318 of total unrecognized compensation expense related to non-vested Stock option activity was insignificant during the first thirty-nine weeks of fiscal 2019.

Retirement Plan

Retirement Plan	9 Months Ended
	Mar. 28, 2019
Retirement Benefits [Abstract]
Retirement Plan	Note 8 – Retirement Plan The Supplemental Employee Retirement Plan is an unfunded, non-qualified For the Quarter Ended For the Thirty-Nine Weeks March 28, 2019 March 29, 2018 March 28, 2019 March 29, 2018 Service cost $ 152 $ 152 $ 457 $ 456 Interest cost 224 213 671 638 Amortization of prior service cost 239 239 718 718 Amortization of loss 24 40 71 121 Net periodic benefit cost $ 639 $ 644 $ 1,917 $ 1,933 The components of net periodic benefit cost other than the service cost component are included in the line item “Other expense” in the Consolidated Statements of Comprehensive Income.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Mar. 28, 2019
Equity [Abstract]
Accumulated Other Comprehensive Loss	Note 9 – Accumulated Other Comprehensive Loss The table below sets forth the changes to accumulated other comprehensive loss (“AOCL”) for the thirty-nine weeks ended March 28, 2019 and March 29, 2018. These changes are all related to our defined benefit pension plan. Changes to AOCL (a) For the Thirty-Nine Weeks Ended March 28, 2019 March 29, 2018 Balance at beginning of period $ (3,181 ) $ (4,404 ) Other comprehensive income before reclassifications — — Amounts reclassified from accumulated other comprehensive loss 789 839 Tax effect (198 ) (288 ) Net current-period other comprehensive income 591 551 Balance at end of period $ (2,590 ) $ (3,853 ) (a) Amounts in parenthesis indicate debits/expense. The reclassifications out of AOCL for the quarter and thirty-nine weeks ended March 28, 2019 and March 29, 2018 were as follows: Affected line item in the Consolidated Statements of Comprehensive Income Reclassifications from AOCL to earnings (b) For the Quarter Ended For the Thirty-Nine Weeks Ended March 28, 2019 March 29, March 28, 2019 March 29, Amortization of defined benefit pension items: Unrecognized prior service cost $ (239 ) $ (239 ) $ (718 ) $ (718 ) Other expense Unrecognized net loss (24 ) (40 ) (71 ) (121 ) Other expense Total before tax (263 ) (279 ) (789 ) (839 ) Tax effect 66 69 198 288 Income tax expense Amortization of defined pension items, net of tax $ (197 ) $ (210 ) $ (591 ) $ (551 ) (b) Amounts in parenthesis indicate debits to expense. See Note 8 – “Retirement Plan” above for additional details.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	9 Months Ended
	Mar. 28, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	Note 10 – Commitments and Contingent Liabilities We are currently a party to various legal proceedings in the ordinary course of business. While management presently believes that the ultimate outcomes of these proceedings, individually and in the aggregate, will not materially affect our Company’s financial position, results of operations or cash flows, legal proceedings are subject to inherent uncertainties, and unfavorable outcomes could occur. Unfavorable outcomes could include substantial monetary damages in excess of any appropriate accruals, which management has established. Were such unfavorable final outcomes to occur, there exists the possibility of a material adverse effect on our financial position, results of operations and cash flows. During fiscal 2017 we were subject to a class-action complaint for an employment related matter. In early fiscal 2018 we agreed to a $1,200 settlement for which we were fully reserved at June 29, 2017. In the first quarter of fiscal 2019 the settlement was paid.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Mar. 28, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 11 – Fair Value of Financial Instruments Authoritative guidance issued by the Financial Accounting Standards Board (“FASB”) defines fair value as the price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The guidance establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels: Level 1 – Quoted prices in active markets that are accessible at the measurement date for identical assets and liabilities. Level 2 – Observable inputs other than quoted prices in active markets. For example, quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets. Level 3 – Unobservable inputs for which there is little or no market data available. The carrying values of cash, trade accounts receivable and accounts payable approximate their fair values at each balance sheet date because of the short-term maturities and nature of these balances. The carrying value of our revolving credit facility borrowings approximates fair value at each balance sheet date because interest rates on this instrument approximate current market rates (Level 2 criteria), the short-term maturity and nature of this balance. In addition, there has been no significant change in our inherent credit risk. The following table summarizes the carrying value and fair value estimate of our current and long-term debt, excluding unamortized debt issuance costs: March 28, June 28, 2018 March 29, 2018 Carrying value of long-term debt: $ 29,253 $ 34,649 $ 36,428 Fair value of long-term debt: 28,872 33,482 35,409 The estimated fair value of our long-term debt was determined using a market approach based upon Level 2 observable inputs, which estimates fair value based on interest rates currently offered on loans with similar terms to borrowers of similar credit quality or broker quotes. In addition, there have been no significant changes in the underlying assets securing our long-term debt.

Related Party Transaction

Related Party Transaction	9 Months Ended
	Mar. 28, 2019
Related Party Transactions [Abstract]
Related Party Transaction	Note 12 – Related Party Transaction In connection with the Acquisition in the second quarter of fiscal 2018, we incurred $11,500 of unsecured debt to the principal owner and seller of the Squirrel Brand business, who was subsequently appointed as an executive officer of the Company and is considered a related party. The interest rate on the Promissory Note is 5.5% per annum and the outstanding balance at March 28, 2019 was $6,389. Interest paid on the Promissory Note for the quarter and thirty-nine weeks ended March 28, 2019 was $96 and $329, respectively.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Mar. 28, 2019
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Note 13 – Recent Accounting Pronouncements The following recent accounting pronouncements have been adopted in the current fiscal year: In May 2014, the FASB issued ASU No. 2014-09 Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers 340-40, Other Assets and Deferred Costs — Contracts with Customers. Revenue Recognition In August 2016, the FASB issued ASU No. 2016-15 Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments No. 2016-15 In May 2017, the FASB issued ASU No. 2017-09 Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting No. 2017-09 No. 2017-09 In August 2018, the Securities and Exchange Commission issued Release No. 33-10532 3-04 S-X 10-Q The following recent accounting pronouncements have not yet been adopted: In August 2018, the FASB issued ASU No. 2018-15 Intangibles – Goodwill and Other – Internal-Use 350-40): internal-use In August 2018, the FASB issued ASU No. 2018-14 Compensation – Retirement Benefits – Defined Benefit Plans – General (Subtopic 715-20): In August 2018, the FASB issued ASU No. 2018-13 Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement Fair Value Measurement In February 2016, the FASB issued ASU No. 2016-02 Leases (Topic 842) No. 2016-02 No. 2016-02 No. 2018-11 Leases (Topic 842): Targeted Improvements non-lease No. 2018-10 Codification Improvements to Topic 842, Leases No. 2016-02. No. 2018-20 Leases (Topic 842) – Narrow Scope Improvements for Lessors non-lease No. 2019-01 Leases (Topic 842) – Codification Improvements No. 2016-02.

Revenue Recognition (Policies)

Revenue Recognition (Policies)	9 Months Ended
	Mar. 28, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition On June 29, 2018 we adopted ASU No. 2014-09, Revenue from Contracts with Customers (“Topic 606”) Nature of Products We manufacture and sell the following: • branded products under our own proprietary brands to retailers on a national basis; • private label products to retailers, such as supermarkets, mass merchandisers, and specialty retailers, for resale under the retailers’ own or controlled labels; • private label and branded products to the foodservice industry, including foodservice distributors and national restaurant operators; • branded products under co-pack • products to our industrial customer base for repackaging in portion control packages and for use as ingredients by other food manufacturers. When Performance Obligations Are Satisfied A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account for revenue recognition. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The Company’s performance obligations are primarily for the delivery of raw and processed recipe and snack nuts, nut butters and trail mixes. Our customer contracts do not include more than one performance obligation. If a contract were to contain more than one performance obligation, we are required to allocate the contract’s transaction price to each performance obligation based on its relative standalone selling price. The standalone selling price for each distinct good is generally determined by directly observable data. Revenue recognition is generally completed at a point in time when product control is transferred to the customer. For approximately 99% of our revenues, control transfers to the customer when the product is shipped or delivered to the customer based upon applicable shipping terms, as the customer can then direct the use and obtain substantially all of the remaining benefits from the asset at that point in time. Therefore, for 99% of our revenues, the timing of revenue recognition requires minimal judgment and does not change compared to previous revenue recognition guidance. However, certain transactions within our contract packaging sales channel include contracts to develop, manufacture and deliver customized or proprietary products, which have no alternative use for the Company in the event the customer cancels the contract. In addition, for certain of these transactions the Company has the right to payment for performance completed to date. As a result, the revenue for products that are considered assets with no alternative use is now recognized over time. The value of these assets with no alternative use at period-end The performance obligations in our contracts are satisfied within one year, and typically much less. As such, we have not disclosed the transaction price allocated to remaining performance obligations for any periods presented. Significant Payment Terms Our customer contracts identify the product, quantity, price, payment and final delivery terms. Payment terms usually include early pay discounts. We grant payment terms consistent with industry standards. On a limited basis some payment terms may be extended, however, no payment terms beyond six months are granted at contract inception. The average customer payment is received within approximately 35 days of the invoice date. As a result, we do not adjust the promised amount of consideration for the effects of a significant financing component because the period between our transfer of a promised good or service to a customer and the customer’s payment for that good or service will be six months or less. Shipping All shipping and handling costs associated with outbound freight are accounted for as fulfillment costs and are included in selling expense. Variable Consideration Some of our products are sold through specific incentive programs consisting of promotional allowances, volume and customer rebates, in-store Trade promotions, consisting primarily of customer pricing allowances, merchandising funds and consumer coupons, are also offered through various programs to customers and consumers. A provision for estimated trade promotions is recorded as a reduction of revenue (and a reduction in the transaction price) in the same period when the sale is recognized. Revenues are also recorded net of expected customer deductions which are provided for based upon past experiences. Evaluating these estimates requires management judgment. We generally use the most likely amount method to determine the variable consideration. We believe there will not be significant changes to our estimates of variable consideration when any related uncertainties are resolved with our customers. The Company reviews and updates its estimates and related accruals of variable consideration and trade promotions at least quarterly based on the terms of the agreements and historical experience. Any uncertainties in the ultimate resolution of variable consideration due to factors outside of the Company’s influence are typically resolved within a short timeframe, therefore, no additional constraint on the variable consideration is required. Product Returns While customers generally have the right to return defective or non-conforming non-conforming Contract Balances Contract assets or liabilities result from transactions with revenue recorded over time. If the measure of remaining rights exceeds the measure of the remaining performance obligations, the Company records a contract asset. Conversely, if the measure of the remaining performance obligations exceeds the measure of the remaining rights, the Company records a contract liability. Contract asset balances at March 28, 2019, June 28, 2018 and March 29, 2018 were $358, $336, and $165, respectively, and are recorded in the caption “Prepaid expenses and other current assets” on the Consolidated Balance Sheets. The Company generally does not have material deferred revenue or contract liability balances arising from transactions with customers. Contract Costs The Company does not incur significant fulfillment costs requiring capitalization. Disaggregation of Revenue Revenue disaggregated by sales channel is as follows: For the Quarter Ended For the Thirty-Nine Weeks Ended Distribution Channel March 28, 2019 March 29, 2018 March 28, 2019 March 29, 2018 Consumer $ 142,011 $ 134,994 $ 477,381 $ 452,495 Commercial Ingredients 32,219 38,943 100,427 110,930 Contract Packaging 27,604 28,849 81,631 113,830 Total $ 201,834 $ 202,786 $ 659,439 $ 677,255 Impact of Adoption The Company adopted Topic 606 using the full retrospective basis on June 29, 2018. The prior period comparative information has been recast to reflect the requirements of Topic 606. The impact of Topic 606 on the Consolidated Statement of Comprehensive Income for the quarter and thirty-nine weeks ended March 29, 2018 were as follows: Quarter-Ended March 29, 2018 as Impact of As Adjusted Net sales $ 203,181 $ (395 ) $ 202,786 Gross profit 33,186 (79 ) 33,107 Income from operations 14,103 (79 ) 14,024 Net income $ 8,631 $ (79 ) $ 8,552 Earnings per share-basic $ 0.76 $ (0.01 ) $ 0.75 Earnings per share-diluted $ 0.75 $ — $ 0.75 Thirty-Nine Weeks ended March 29, 2018 as Impact of As Adjusted Net sales $ 677,090 $ 165 $ 677,255 Gross profit 105,906 53 105,959 Income from operations 45,688 53 45,741 Net income $ 26,819 $ 53 $ 26,872 Earnings per share-basic $ 2.36 $ — $ 2.36 Earnings per share-diluted $ 2.34 $ 0.01 $ 2.35 The impact of Topic 606 on the comparative Consolidated Balance Sheet and Consolidated Statement of Cash Flows was not material.
Recent Accounting Pronouncements	Note 13 – Recent Accounting Pronouncements The following recent accounting pronouncements have been adopted in the current fiscal year: In May 2014, the FASB issued ASU No. 2014-09 Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers 340-40, Other Assets and Deferred Costs — Contracts with Customers. Revenue Recognition In August 2016, the FASB issued ASU No. 2016-15 Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments No. 2016-15 In May 2017, the FASB issued ASU No. 2017-09 Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting No. 2017-09 No. 2017-09 In August 2018, the Securities and Exchange Commission issued Release No. 33-10532 3-04 S-X 10-Q The following recent accounting pronouncements have not yet been adopted: In August 2018, the FASB issued ASU No. 2018-15 Intangibles – Goodwill and Other – Internal-Use 350-40): internal-use In August 2018, the FASB issued ASU No. 2018-14 Compensation – Retirement Benefits – Defined Benefit Plans – General (Subtopic 715-20): In August 2018, the FASB issued ASU No. 2018-13 Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement Fair Value Measurement In February 2016, the FASB issued ASU No. 2016-02 Leases (Topic 842) No. 2016-02 No. 2016-02 No. 2018-11 Leases (Topic 842): Targeted Improvements non-lease No. 2018-10 Codification Improvements to Topic 842, Leases No. 2016-02. No. 2018-20 Leases (Topic 842) – Narrow Scope Improvements for Lessors non-lease No. 2019-01 Leases (Topic 842) – Codification Improvements No. 2016-02.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Mar. 28, 2019
Summary of Revenue Disaggregated by Sales Channel	Revenue disaggregated by sales channel is as follows: For the Quarter Ended For the Thirty-Nine Weeks Ended Distribution Channel March 28, 2019 March 29, 2018 March 28, 2019 March 29, 2018 Consumer $ 142,011 $ 134,994 $ 477,381 $ 452,495 Commercial Ingredients 32,219 38,943 100,427 110,930 Contract Packaging 27,604 28,849 81,631 113,830 Total $ 201,834 $ 202,786 $ 659,439 $ 677,255
Accounting Standards Update 2014-09 [Member]
Summary of Impact of Topic 606 on Consolidated Statement of Comprehensive Income	The impact of Topic 606 on the Consolidated Statement of Comprehensive Income for the quarter and thirty-nine weeks ended March 29, 2018 were as follows: Quarter-Ended March 29, 2018 as Impact of As Adjusted Net sales $ 203,181 $ (395 ) $ 202,786 Gross profit 33,186 (79 ) 33,107 Income from operations 14,103 (79 ) 14,024 Net income $ 8,631 $ (79 ) $ 8,552 Earnings per share-basic $ 0.76 $ (0.01 ) $ 0.75 Earnings per share-diluted $ 0.75 $ — $ 0.75 Thirty-Nine Weeks ended March 29, 2018 as Impact of As Adjusted Net sales $ 677,090 $ 165 $ 677,255 Gross profit 105,906 53 105,959 Income from operations 45,688 53 45,741 Net income $ 26,819 $ 53 $ 26,872 Earnings per share-basic $ 2.36 $ — $ 2.36 Earnings per share-diluted $ 2.34 $ 0.01 $ 2.35

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Mar. 28, 2019
Inventory Disclosure [Abstract]
Components of Inventories	Inventories consist of the following: March 28, 2019 June 28, 2018 March 29, 2018 Raw material and supplies $ 84,270 $ 73,209 $ 103,332 Work-in-process 94,639 101,153 81,438 Total $ 178,909 $ 174,362 $ 184,770

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Mar. 28, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Components of Identifiable Intangible Assets	Identifiable intangible assets that are subject to amortization consist of the following: March 28, June 28, March 29, Customer relationships $ 21,100 $ 21,100 $ 21,100 Brand names 16,990 16,990 16,990 Non-compete 270 270 270 38,360 38,360 38,360 Less accumulated amortization: Customer relationships (13,980 ) (12,182 ) (11,523 ) Brand names (9,010 ) (8,492 ) (8,320 ) Non-compete (72 ) (32 ) (18 ) (23,062 ) (20,706 ) (19,861 ) Net intangible assets $ 15,298 $ 17,654 $ 18,499
Summary of Expected Amortization Expense	Total amortization expense related to intangible assets, which is recorded within Administrative expense, was $672 and $2,356 for the quarter and thirty-nine weeks ended March 28, 2019, respectively. Amortization expense for the remainder of fiscal 2019, based on our purchase price allocation, is expected to be approximately $672 and expected amortization expense the next five fiscal years is as follows: Fiscal year ending June 25, 2020 $ 2,501 June 24, 2021 2,165 June 30, 2022 1,896 June 29, 2023 1,657 June 27, 2024 1,414

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Mar. 28, 2019
Earnings Per Share [Abstract]
Weighted Average Shares Outstanding Used in Computing Basic and Diluted Earnings Per Share	The following table presents the reconciliation of the weighted average shares outstanding used in computing basic and diluted earnings per share: For the Quarter Ended For the Thirty-Nine Weeks Ended March 28, 2019 March 29, 2018 March 28, 2019 March 29, 2018 Weighted average number of shares outstanding – basic 11,444,560 11,399,492 11,425,378 11,375,437 Effect of dilutive securities: Stock options and restricted stock units 64,333 54,056 68,040 65,234 Weighted average number of shares outstanding – diluted 11,508,893 11,453,548 11,493,418 11,440,671

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	9 Months Ended
	Mar. 28, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of RSU Activity	The following is a summary of restricted stock unit (“RSU”) activity for the first thirty-nine weeks of fiscal 2019: Restricted Stock Units Shares Weighted Outstanding at June 28, 2018 189,068 $ 46.35 Activity: Granted 56,700 57.22 Vested (a) (49,179 ) 55.79 Forfeited (6,925 ) 57.34 Outstanding at March 28, 2019 189,664 $ 46.75 (a) The number of RSUs vested includes shares that were withheld on behalf of employees to satisfy the statutory tax withholding requirements.
Summary of Compensation Expense	The following table summarizes compensation expense charged to earnings for all equity compensation plans for the periods presented: For the Quarter Ended For the Thirty-Nine Weeks Ended March 28, 2019 March 29, 2018 March 28, 2019 March 29, 2018 Stock-based compensation expense $ 521 $ 751 $ 2,037 $ 2,180

Retirement Plan (Tables)

Retirement Plan (Tables)	9 Months Ended
	Mar. 28, 2019
Retirement Benefits [Abstract]
Schedule of Net Periodic Benefit Cost	The components of net periodic benefit cost are as follows: For the Quarter Ended For the Thirty-Nine Weeks March 28, 2019 March 29, 2018 March 28, 2019 March 29, 2018 Service cost $ 152 $ 152 $ 457 $ 456 Interest cost 224 213 671 638 Amortization of prior service cost 239 239 718 718 Amortization of loss 24 40 71 121 Net periodic benefit cost $ 639 $ 644 $ 1,917 $ 1,933

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Mar. 28, 2019
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss	The table below sets forth the changes to accumulated other comprehensive loss (“AOCL”) for the thirty-nine weeks ended March 28, 2019 and March 29, 2018. These changes are all related to our defined benefit pension plan. Changes to AOCL (a) For the Thirty-Nine Weeks Ended March 28, 2019 March 29, 2018 Balance at beginning of period $ (3,181 ) $ (4,404 ) Other comprehensive income before reclassifications — — Amounts reclassified from accumulated other comprehensive loss 789 839 Tax effect (198 ) (288 ) Net current-period other comprehensive income 591 551 Balance at end of period $ (2,590 ) $ (3,853 ) (a) Amounts in parenthesis indicate debits/expense.
Reclassifications Out of AOCL	The reclassifications out of AOCL for the quarter and thirty-nine weeks ended March 28, 2019 and March 29, 2018 were as follows: Affected line item in the Consolidated Statements of Comprehensive Income Reclassifications from AOCL to earnings (b) For the Quarter Ended For the Thirty-Nine Weeks Ended March 28, 2019 March 29, March 28, 2019 March 29, Amortization of defined benefit pension items: Unrecognized prior service cost $ (239 ) $ (239 ) $ (718 ) $ (718 ) Other expense Unrecognized net loss (24 ) (40 ) (71 ) (121 ) Other expense Total before tax (263 ) (279 ) (789 ) (839 ) Tax effect 66 69 198 288 Income tax expense Amortization of defined pension items, net of tax $ (197 ) $ (210 ) $ (591 ) $ (551 ) (b) Amounts in parenthesis indicate debits to expense. See Note 8 – “Retirement Plan” above for additional details.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Mar. 28, 2019
Fair Value Disclosures [Abstract]
Carrying Value and Fair Value Estimate of Current and Long Term Debt	The following table summarizes the carrying value and fair value estimate of our current and long-term debt, excluding unamortized debt issuance costs: March 28, June 28, 2018 March 29, 2018 Carrying value of long-term debt: $ 29,253 $ 34,649 $ 36,428 Fair value of long-term debt: 28,872 33,482 35,409

Basis of Presentation and Des_2

Basis of Presentation and Description of Business - Additional Information (Detail)	9 Months Ended
	Mar. 28, 2019Channel
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of distribution channels	3

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Mar. 28, 2019	Jun. 28, 2018	Mar. 29, 2018
Disaggregation of Revenue [Line Items]
Description of contract with customer payment terms	No payment terms beyond six months are granted at contract inception. The average customer payment is received within approximately 35 days of the invoice date.
Contract assets	$ 358	$ 336	$ 165
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Risk percentage	99.00%

Revenue Recognition - Summary o

Revenue Recognition - Summary of Revenue Disaggregated by Sales Channel (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 28, 2019	Mar. 29, 2018	Mar. 28, 2019	Mar. 29, 2018
Disaggregation of Revenue [Line Items]
Total	$ 201,834	$ 202,786	$ 659,439	$ 677,255
Consumer [Member]
Disaggregation of Revenue [Line Items]
Total	142,011	134,994	477,381	452,495
Commercial Ingredients [Member]
Disaggregation of Revenue [Line Items]
Total	32,219	38,943	100,427	110,930
Contract Packaging [Member]
Disaggregation of Revenue [Line Items]
Total	$ 27,604	$ 28,849	$ 81,631	$ 113,830

Revenue Recognition - Summary_2

Revenue Recognition - Summary of Impact of Topic 606 on Consolidated Statement of Comprehensive Income (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Mar. 28, 2019	Dec. 27, 2018	Sep. 27, 2018	Mar. 29, 2018	Dec. 28, 2017	Sep. 28, 2017	Mar. 28, 2019	Mar. 29, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales	$ 201,834			$ 202,786			$ 659,439	$ 677,255
Gross profit	38,815			33,107			114,652	105,959
Income from operations	15,408			14,024			42,100	45,741
Net income	$ 10,331	$ 11,264	$ 6,606	$ 8,552	$ 7,609	$ 10,711	$ 28,201	$ 26,872
Earnings per share-basic	$ 0.90			$ 0.75			$ 2.47	$ 2.36
Earnings per share-diluted	$ 0.90			$ 0.75			$ 2.45	$ 2.35
Disaggregation of Revenue Before 606 Impact [Member] | Accounting Standards Update 2014-09 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales				$ 203,181				$ 677,090
Gross profit				33,186				105,906
Income from operations				14,103				45,688
Net income				$ 8,631				$ 26,819
Earnings per share-basic				$ 0.76				$ 2.36
Earnings per share-diluted				$ 0.75				$ 2.34
Impact of 606 [Member] | Accounting Standards Update 2014-09 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales				$ (395)				$ 165
Gross profit				(79)				53
Income from operations				(79)				53
Net income				$ (79)				$ 53
Earnings per share-basic				$ (0.01)
Earnings per share-diluted								$ 0.01

Inventories - Components of Inv

Inventories - Components of Inventories (Detail) - USD ($) $ in Thousands	Mar. 28, 2019	Jun. 28, 2018	Mar. 29, 2018
Inventory Disclosure [Abstract]
Raw material and supplies	$ 84,270	$ 73,209	$ 103,332
Work-in-process and finished goods	94,639	101,153	81,438
Total	$ 178,909	$ 174,362	$ 184,770

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Components of Identifiable Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 28, 2019	Jun. 28, 2018	Mar. 29, 2018
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 38,360	$ 38,360	$ 38,360
Less accumulated amortization:
Total accumulated amortization	(23,062)	(20,706)	(19,861)
Net intangible assets	15,298	17,654	18,499
Customer Relationships [Member] | Squirrel Brand [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	21,100	21,100	21,100
Less accumulated amortization:
Total accumulated amortization	(13,980)	(12,182)	(11,523)
Brand Names [Member] | Squirrel Brand [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	16,990	16,990	16,990
Less accumulated amortization:
Total accumulated amortization	(9,010)	(8,492)	(8,320)
Non-compete Agreement [Member] | Squirrel Brand [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	270	270	270
Less accumulated amortization:
Total accumulated amortization	$ (72)	$ (32)	$ (18)

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 28, 2019	Mar. 28, 2019	Jun. 28, 2018	Mar. 29, 2018
Finite-Lived Intangible Assets [Line Items]
Amortization expense for remainder of fiscal 2019	$ 672	$ 672
Goodwill related to acquisition of Squirrel Brand	9,650	9,650	$ 9,650	$ 9,650
Administrative Expenses [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	672	2,356
Squirrel Brand [Member]
Finite-Lived Intangible Assets [Line Items]
Goodwill related to acquisition of Squirrel Brand	$ 9,650	$ 9,650

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Summary of Expected Amortization Expense (Detail) $ in Thousands	Mar. 28, 2019USD ($)
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
June 25, 2020	$ 2,501
June 24, 2021	2,165
June 30, 2022	1,896
June 29, 2023	1,657
June 27, 2024	$ 1,414

Credit Facility - Additional In

Credit Facility - Additional Information (Detail) - Revolving Credit Facility [Member] - USD ($)	Mar. 28, 2019	Feb. 07, 2008
Debt Instrument [Line Items]
Revolving loan commitment and letter of credit sub facility		$ 117,500,000
Available credit under the Credit Facility	$ 79,351,000
Revolving credit facility borrowings	35,099,000
Outstanding letters of credit	$ 3,050,000

Earnings Per Common Share - Wei

Earnings Per Common Share - Weighted Average Shares Outstanding Used in Computing Basic and Diluted Earnings Per Share (Detail) - shares	3 Months Ended		9 Months Ended
	Mar. 28, 2019	Mar. 29, 2018	Mar. 28, 2019	Mar. 29, 2018
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Weighted average number of shares outstanding - basic	11,444,560	11,399,492	11,425,378	11,375,437
Effect of dilutive securities:
Stock options and restricted stock units	64,333	54,056	68,040	65,234
Weighted average number of shares outstanding - diluted	11,508,893	11,453,548	11,493,418	11,440,671

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans - Summary of RSU Activity (Detail)	9 Months Ended
	Mar. 28, 2019$ / sharesshares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Outstanding beginning balance, Shares | shares	189,068
Granted, Shares | shares	56,700
Vested, Shares | shares	(49,179)
Forfeited, Shares | shares	(6,925)
Outstanding ending balance, Shares | shares	189,664
Weighted-Average Grant-Date Fair Value, Beginning Balance | $ / shares	$ 46.35
Granted, Weighted-Average Grant-Date Fair Value | $ / shares	57.22
Vested, Weighted-Average Grant-Date Fair Value | $ / shares	55.79
Forfeited, Weighted-Average Grant-Date Fair Value | $ / shares	57.34
Weighted-Average Grant-Date Fair Value, Ending Balance | $ / shares	$ 46.75

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans - Additional Information (Detail) $ in Thousands	9 Months Ended
	Mar. 28, 2019USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to non-vested share-based compensation | $	$ 4,318
Expected weighted average recognize period of unrecognized compensation cost related to non-vested share-based compensation	1 year 8 months 12 days
Restricted Stock Unit [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units vested | shares	55,628

Stock-Based Compensation Plan_4

Stock-Based Compensation Plans - Summary of Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 28, 2019	Mar. 29, 2018	Mar. 28, 2019	Mar. 29, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based compensation expense	$ 521	$ 751	$ 2,037	$ 2,180

Retirement Plan - Schedule of N

Retirement Plan - Schedule of Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 28, 2019	Mar. 29, 2018	Mar. 28, 2019	Mar. 29, 2018
Retirement Benefits [Abstract]
Service cost	$ 152	$ 152	$ 457	$ 456
Interest cost	224	213	671	638
Amortization of prior service cost	239	239	718	718
Amortization of loss	24	40	71	121
Net periodic benefit cost	$ 639	$ 644	$ 1,917	$ 1,933

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 28, 2019	Mar. 29, 2018	Mar. 28, 2019	Mar. 29, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period			$ (3,181)
Other comprehensive income, net of tax	$ 197	$ 210	591	$ 551
Balance at end of period	(2,590)	(3,853)	(2,590)	(3,853)
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period			(3,181)	(4,404)
Other comprehensive income before reclassifications			0	0
Amounts reclassified from accumulated other comprehensive loss			789	839
Tax effect	(66)	(69)	(198)	(288)
Other comprehensive income, net of tax			591	551
Balance at end of period	$ (2,590)	$ (3,853)	$ (2,590)	$ (3,853)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Reclassifications Out of AOCL (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 28, 2019	Mar. 29, 2018	Mar. 28, 2019	Mar. 29, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense	$ (487)	$ (492)	$ (1,460)	$ (1,477)
Amortization of Defined Benefit Pension Items [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	(263)	(279)	(789)	(839)
Amortization of defined pension items, net of tax	(197)	(210)	(591)	(551)
Accumulated Other Comprehensive Loss [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before tax			(789)	(839)
Tax effect	66	69	198	288
Reclassifications from AOCL to Earnings [Member] | Unrecognized Prior Service Cost [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense	(239)	(239)	(718)	(718)
Reclassifications from AOCL to Earnings [Member] | Unrecognized Net Loss [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense	$ (24)	$ (40)	$ (71)	$ (121)

Commitments and Contingent Li_2

Commitments and Contingent Liabilities - Additional Information (Detail) $ in Thousands	Jun. 29, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
Litigation settlement amount	$ 1,200

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Carrying Value and Fair Value Estimate of Current and Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 28, 2019	Jun. 28, 2018	Mar. 29, 2018
Fair Value Disclosures [Abstract]
Carrying value of long-term debt:	$ 29,253	$ 34,649	$ 36,428
Fair value of long-term debt:	$ 28,872	$ 33,482	$ 35,409

Related Party Transaction - Add

Related Party Transaction - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Mar. 28, 2019	Mar. 29, 2018	Dec. 28, 2017	Mar. 28, 2019	Mar. 29, 2018
Related Party Transaction [Line Items]
Interest paid	$ 278	$ 340		$ 880	$ 779
Promissory Note [Member]
Related Party Transaction [Line Items]
Purchase price financed by seller through unsecured debt			$ 11,500
Interest rate	5.50%			5.50%
Outstanding balance	$ 6,389			$ 6,389
Interest paid	$ 96			$ 329