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Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
Document and Entity Information - USD ($) $ in Thousands	Jun. 30, 2019	Sep. 10, 2019	Dec. 31, 2018
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	Mastercraft Boat Holdings, Inc.
Entity Central Index Key	0001638290
Trading Symbol	MCFT
Current Fiscal Year End Date	--06-30
Entity Current Reporting Status	Yes
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 350,210,000
Entity Common Stock, Shares Outstanding		18,782,558
Entity Shell Company	false
Entity Incorporation, State or Country Name	Delaware
Entity File Number	001-37502
Entity Tax Identification Number	061571747
Entity Address, Address Line One	100 Cherokee Cove Drive
Entity Address, City or Town	Vonore
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37885
City Area Code	423
Local Phone Number	884-2221

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
CURRENT ASSETS:
Cash and cash equivalents	$ 5,826	$ 7,909
Accounts receivable — net of allowances of $281 and $51, respectively	12,463	5,515
Income tax receivable	951
Inventories — net (Note 6)	30,660	20,467
Prepaid expenses and other current assets	4,464	3,295
Total current assets	54,364	37,186
Property, plant and equipment — net (Note 7)	33,636	22,265
Goodwill (Note 8)	74,030	65,792
Other intangible assets — net (Note 8)	79,799	51,046
Deferred income taxes (Note 12)	6,240
Deferred debt issuance costs — net	451	383
Other long-term assets	253	252
Total assets	248,773	176,924
CURRENT LIABILITIES:
Accounts payable	17,974	17,266
Income tax payable	426	705
Accrued expenses and other current liabilities (Note 9)	41,421	27,866
Current portion of long term debt, net of unamortized debt issuance costs (Note 11)	8,725	5,069
Total current liabilities	68,546	50,906
Long term debt, net of unamortized debt issuance costs (Note 11)	105,016	70,087
Deferred income taxes (Note 12)		1,427
Unrecognized tax positions (Note 12)	2,895	1,982
Total liabilities	176,457	124,402
COMMITMENTS AND CONTINGENCIES (Note 14)
STOCKHOLDERS' EQUITY:
Common stock, $.01 par value per share — authorized, 100,000,000 shares; issued and outstanding, 18,764,037 shares at June 30, 2019 and 18,682,338 shares at June 30, 2018	188	187
Additional paid-in capital	115,582	114,052
Accumulated deficit	(43,454)	(61,717)
Total stockholders' equity	72,316	52,522
Total liabilities and stockholders' equity	$ 248,773	$ 176,924

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts	$ 281	$ 51
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	100,000,000	100,000,000
Common stock, issued shares	18,764,037	18,682,338
Common stock, outstanding shares	18,764,037	18,682,338

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
NET SALES	$ 466,381	$ 332,725	$ 228,634
COST OF SALES	353,254	242,361	165,158
GROSS PROFIT	113,127	90,364	63,476
OPERATING EXPENSES:
Selling and marketing	17,670	13,011	9,380
General and administrative	27,706	19,773	20,474
Amortization of intangible assets	3,492	1,597	107
Goodwill and other intangible asset impairment	31,000
Total operating expenses	79,868	34,381	29,961
OPERATING INCOME	33,259	55,983	33,515
OTHER EXPENSE:
Interest expense	6,513	3,474	2,222
INCOME BEFORE INCOME TAX EXPENSE	26,746	52,509	31,293
INCOME TAX EXPENSE	5,392	12,856	11,723
NET INCOME	$ 21,354	$ 39,653	$ 19,570
EARNINGS PER COMMON SHARE:
Basic	$ 1.14	$ 2.13	$ 1.05
Diluted	$ 1.14	$ 2.12	$ 1.05
WEIGHTED AVERAGE SHARES USED FOR COMPUTATION OF:
Basic earnings per share	18,653,892	18,619,793	18,592,885
Diluted earnings per share	18,768,207	18,714,531	18,620,708

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Balance, beginning at Jun. 30, 2016	$ (8,379)	$ 186	$ 112,375	$ (120,940)
Balance, beginning (in shares) at Jun. 30, 2016		18,591,808
Increase (decrease) in stockholders' equity
Share-based compensation activity	1,019		1,019
Share-based compensation activity (shares)		45,637
Offering costs	(449)		(449)
Net income	19,570			19,570
Balance, ending at Jun. 30, 2017	11,761	$ 186	112,945	(101,370)
Balance, ending (in shares) at Jun. 30, 2017		18,637,445
Increase (decrease) in stockholders' equity
Share-based compensation activity	1,108	$ 1	1,107
Share-based compensation activity (shares)		44,893
Net income	39,653			39,653
Balance, ending at Jun. 30, 2018	52,522	$ 187	114,052	(61,717)
Balance, ending (in shares) at Jun. 30, 2018		18,682,338
Increase (decrease) in stockholders' equity
Adoption of accounting standards (Note 3) \| ASU 14-09	(3,091)			(3,091)
Share-based compensation activity	1,531	$ 1	1,530
Share-based compensation activity (shares)		81,699
Net income	21,354			21,354
Balance, ending at Jun. 30, 2019	$ 72,316	$ 188	$ 115,582	$ (43,454)
Balance, ending (in shares) at Jun. 30, 2019		18,764,037

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 21,354,000	$ 39,653,000	$ 19,570,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	7,787,000	5,086,000	3,231,000
Inventory obsolescence reserve	109,000	281,000	399,000
Amortization of deferred debt issuance costs	553,000	496,000	361,000
Share-based compensation	1,678,000	1,186,000	711,000
Change in interest rate cap fair value	474,000	(435,000)
Unrecognized tax benefits	913,000	(1,199,000)	743,000
Deferred income taxes	(6,734,000)	557,000	4,454,000
Net provision of doubtful accounts	102,000	(31,000)	17,000
Loss on disposal of fixed assets	10,000		10,000
Goodwill and other intangible asset impairment	31,000,000
Changes in operating assets and liabilities:
Accounts receivable	(1,835,000)	(211,000)	(551,000)
Inventories	(449,000)	(2,754,000)	1,193,000
Prepaid expenses and other current assets	(1,464,000)	(763,000)	(658,000)
Income tax receivable	(951,000)		5,000
Other assets	4,000	39,000	45,000
Accounts payable	(2,995,000)	2,847,000	(2,104,000)
Income tax payable	(279,000)	(75,000)	(328,000)
Accrued expenses and other current liabilities	6,609,000	4,720,000	(866,000)
Net cash provided by operating activities	55,886,000	49,397,000	26,232,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Disposal of assets	7,000	96,000
Payment for acquisition, net of cash acquired	(81,729,000)	(80,511,000)
Purchases of property and equipment	(14,064,000)	(5,305,000)	(4,135,000)
Net cash used in investing activities	(95,786,000)	(85,720,000)	(4,135,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt	80,000,000	80,832,000
Payments of costs directly associated with offerings			(449,000)
Cash paid for withholding taxes on vested stock	(148,000)	(78,000)	(4,000)
Excess tax benefits			312,000
Principal payments on long-term debt	(41,306,000)	(39,320,000)	(14,865,000)
Payments on revolving line of credit			(3,126,000)
Payments of deferred debt issuance costs	(729,000)	(1,240,000)	0
Net cash provided by (used in) financing activities	37,817,000	40,194,000	(18,132,000)
NET CHANGE IN CASH AND CASH EQUIVALENTS	(2,083,000)	3,871,000	3,965,000
CASH AND CASH EQUIVALENTS — BEGINNING OF PERIOD	7,909,000	4,038,000	73,000
CASH AND CASH EQUIVALENTS — END OF PERIOD	5,826,000	7,909,000	4,038,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash payments for interest	5,526,000	2,976,000	2,006,000
Cash payments for income taxes	12,437,000	13,549,000	$ 6,541,000
SIGNIFICANT NON-CASH INVESTING AND FINANCING ACTIVITIES:
Capital expenditures in accounts payable and accrued expenses	$ 908,000	$ 733,000

ORGANIZATION AND NATURE OF BUSINESS

12 Months Ended

Jun. 30, 2019

Organization And Nature Of Business [Abstract]

ORGANIZATION AND NATURE OF BUSINESS

1. ORGANIZATION AND NATURE OF BUSINESS

MasterCraft Boat Holdings, Inc. (“Holdings”) was formed on January 28, 2000, as a Delaware holding company and operates primarily through its wholly owned subsidiaries, MasterCraft Boat Company, LLC; MasterCraft Services, LLC; MasterCraft Parts, Ltd.; and MasterCraft International Sales Administration, Inc. (collectively “MasterCraft”); Nautic Star, LLC and NS Transport, LLC (collectively “NauticStar”); and Crest Marine, LLC (“Crest”). Holdings and its subsidiaries collectively are referred to herein as the “Company”.

On October 2, 2017, the Company acquired all of the outstanding membership interests and other equity securities of NauticStar, a Mississippi limited liability company and its subsidiaries. On October 1, 2018, the Company acquired all of the outstanding membership interest of Crest, a Michigan limited liability company. As a result of the acquisitions, the Company consolidated the financial results of NauticStar and Crest beginning on the respective dates acquired.

The Company is a leading innovator, designer, manufacturer and marketer of recreational powerboats that operates in three reportable segments: MasterCraft, NauticStar and Crest.

BASIS OF PRESENTATION

12 Months Ended

Jun. 30, 2019

Basis Of Presentation [Abstract]

BASIS OF PRESENTATION

2. BASIS OF PRESENTATION

The accompanying financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries.

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

3. SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation — The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.

Holdings has no independent operations and no material assets, other than its wholly owned equity interests of MasterCraft, NauticStar, and Crest, which totaled $163,013 and $81,160 as of June 30, 2019 and 2018, respectively, and no material liabilities. As of June 30, 2019, Holdings had no material contingencies, long-term obligations, or guarantees other than a guarantee of the Company’s long-term debt (see Note 11).

Immaterial Correction of Error — During the fourth quarter of fiscal 2018, the Company recorded an out of period adjustment that effected the Consolidated Statement of Operations for the year ended June 30, 2018. The adjustment related to improperly projecting warranty claims based on part sales rather than part costs. The impact of this adjustment resulted in an increase in net income of $1,033 for the fiscal year ended June 30, 2018, with a corresponding decrease in accrued expenses and other current liabilities on the consolidated balance sheet as of June 30, 2018.

During the second quarter of fiscal 2019, the Company identified two errors in how accrued warranty was calculated that resulted in a net out-of-period adjustment that decreased earnings for the three months ended December 30, 2018 and increased accrued expenses and other current liabilities as of December 30, 2018 by $225. The Company determined that inaccurate data on the cost of parts was used to estimate the warranty liability. The impact of this adjustment resulted in a $1,125 increase in earnings for the three months ended December 30, 2018, with a corresponding decrease in accrued expenses and other current liabilities on the consolidated balance sheet as of December 30, 2018. The Company also determined that faulty assumptions were used when estimating costs for warranty periods impacted by the change to a five-year warranty. The adjustment resulted in a $1,350 decrease in earnings for the three months ended December 30, 2018, with a corresponding increase in accrued expenses and other current liabilities on the consolidated balance sheet as of December 30, 2018.

Management evaluated the effect of these adjustments on the Company’s financial statements under the provision of ASC 250: Accounting Changes and Error Corrections and Staff Accounting Bulletin No. 108: Considering the Effects of Prior Year Misstatements When Quantifying Misstatements in Current Year Financial Statements and concluded that it was immaterial to the current year and prior years’ annual and quarterly financial statements.

Use of Estimates — The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and related disclosures. The Company bases these estimates on historical results and various other assumptions believed to be reasonable. The Company’s most significant financial statement estimates include allowances for bad debts, warranty liability, dealer incentives liability, self-insurance liability, fair value of share-based compensation, inventory repurchase contingent obligation, unrecognized tax positions, impairment of long-lived assets and intangible assets subject to amortization, impairment of goodwill and indefinite-lived intangibles, and potential litigation claims and settlements. Actual results could differ from those estimates.

Revenue Recognition — The Company’s revenue is derived primarily from the sale of boats, marine parts, and accessories. The Company recognizes revenue when obligations under the terms of a contract are satisfied and control over promised goods is transferred to a customer. For the majority of sales, this occurs when the product is released to the carrier responsible for transporting it to a customer. The Company typically receives payment within 5 days of shipment. Revenue is measured as the amount of consideration it expects to receive in exchange for a product. The Company offers discounts and sales incentives that include retail promotions, rebates, and floor plan reimbursement costs that are recorded as reductions of revenues in Net sales in the consolidated statements of operations. The consideration recognized represents the amount specified in a contract with a customer, net of estimated dealer and retail sales incentives the Company reasonably expects to pay. The estimated liability and reduction in revenue for sales incentives is recorded at the time of sale. The Company estimates the amount of sales incentives based on historical data for specific boat models adjusted for forecasted sales volume, product mix, customer behavior and assumptions concerning market conditions. Subsequent adjustments to incentive estimates are possible because actual results may differ from these estimates if market conditions dictate the need to enhance or reduce sales promotion and incentive programs or if dealer achievement or other items vary from historical trends.

Dealer Incentives

Dealer incentives include seasonal discounts, volume commitment rebates and other allowances. Dealer rebate and sales promotion incentives recorded during the years ended June 30, 2019, 2018, and 2017, were $11,598, $6,361, and $5,660, respectively. Rebates that apply to boats already in dealer inventory are referred to as retail rebates. Retail rebates recorded during the years ended June 30, 2019, 2018, and 2017, were $4,220, $1,932, and $5,484, respectively. Accrued rebates are included in Accrued expenses and other current liabilities in the accompanying consolidated balance sheets.

Dealers generally have no rights to return unsold boats. Occasionally, the Company may accept returns in limited circumstances and at the Company’s discretion under its warranty policy (Note 9). The Company may be obligated, in the event of default by a dealer, to accept returns of unsold boats under its repurchase commitment to floor financing providers, who are able to obtain such boats through foreclosure. The Company accrues the estimated fair value of this obligation based on the age of inventory currently under floor plan financing and estimated credit quality of dealers holding the inventory.

Floor Plan Reimbursement Costs

The Company participates in various programs whereby it agrees to reimburse its dealers for certain floor plan interest costs incurred by such dealers for limited periods of time, generally ranging up to nine months. Such costs are included as a reduction in net sales in the consolidated statements of operations and totaled $7,452, $5,143, and $3,705 for the years ended June 30, 2019, 2018, and 2017, respectively.

Shipping and Handling Costs

Shipping and handling costs includes those costs incurred to transport product to customers and internal handling costs, which relate to activities to prepare goods for shipment. The Company has elected to account for shipping and handling costs associated with outbound freight after control over a product has transferred to a customer as a fulfillment cost. The Company includes shipping and handling costs, including costs billed to customers, in Cost of sales in the consolidated statements of operations.

Contract Liabilities

A contract liability is created when customers prepay for goods prior to the Company transferring those goods to the customer. The contract liability is reduced once control of the goods is transferred to the customer. The difference between the opening and closing balances of the Company’s contract liabilities primarily results from the timing difference between the Company’s performance and the point at which it receives pre-payment from the customer.

Other Revenue Recognition Matters

The Company has excluded sales and other taxes assessed by a governmental authority in connection with revenue-producing activities from the determination of the transaction price for all contracts. The Company has not adjusted Net sales for the effects of a significant financing component because the period between the transfer of the promised goods and the customer's payment is expected to be one year or less.

Accounts Receivable — Accounts receivable represents amounts billed to customers under credit terms customary in its industry. The Company normally does not charge interest on its accounts receivable. The Company determines its allowance for doubtful accounts by considering a number of factors, including the length of time trade accounts receivable are past due, the Company’s previous loss history, the customer’s current ability to pay its obligation to the Company, and the condition of the general economy and the industry as a whole. The Company writes-off accounts receivable when they become uncollectible, and payments subsequently received on such receivables are credited to bad debt recovery.

Cash and Cash Equivalents — The Company considers all highly-liquid investments with an original maturity of three months or less to be cash and cash equivalents. The Company’s cash deposits may at times exceed federally insured amounts. The Company had no cash equivalents at June 30, 2019 and 2018.

Concentrations of Credit and Business Risk — Financial instruments that potentially subject the Company to concentrations of credit risk primarily consist of trade receivables. Credit risk on trade receivables is mitigated as a result of the Company’s use of trade letters of credit, dealer floor plan financing arrangements, and the geographically diversified nature of the Company’s customer base.

Supplier Concentrations

The Company is dependent on the ability of its suppliers to provide products on a timely basis and on favorable pricing terms. The loss of certain principal suppliers or a significant reduction in product availability from principal suppliers could have a material adverse effect on the Company. Business risk insurance is in place to mitigate the business risk associated with sole suppliers for sudden disruptions such as those caused by natural disasters.

The Company is dependent on third-party equipment manufacturers, distributors, and dealers for certain parts and materials utilized in the manufacturing process. In 2019, 2018, and 2017 the Company purchased all engines for its MasterCraft performance sport boats under a supply agreement with a single vendor. Total purchases to this vendor were $39,252, $34,734 and $31,075 for 2019, 2018, and 2017, respectively. In 2019 and 2018, the Company purchased a majority of engines for its NauticStar boats under a supply agreement with one vendor. Total purchases from this vendor were $23,718 and $19,668 for 2019 and 2018, respectively. In 2019, the Company purchased a majority of the engines for its Crest boats under a supply agreement with a single vendor. Total purchases from this vendor were $20,382 for 2019.

Inventories — Inventories are valued at the lower of cost or net realizable value and are shown net of an inventory allowance in the balance sheet. Inventory cost includes material, labor, and manufacturing overhead and is determined based on the first-in, first-out (FIFO) method. Provisions are made as necessary to reduce inventory amounts to their net realizable value or to provide for obsolete inventory.

Property, Plant, and Equipment — Property, plant, and equipment are recorded at historical cost less accumulated depreciation and are depreciated on a straight-line basis over the estimated useful lives. Repairs and maintenance are charged to operations as incurred, and expenditures for additions and improvements that increase the asset’s useful life are capitalized.

Ranges of asset lives used for depreciation purposes are:

Buildings and improvements	7	-	40 years
Machinery and equipment	3	-	7 years
Furniture and fixtures	3	-	7 years

Goodwill and Other Intangible Assets — The Company does not amortize goodwill and other purchased intangible assets with indefinite lives. All of the Company’s goodwill and intangible assets relate to either our MasterCraft, NauticStar, or Crest reporting units (see Note 16). The Company’s intangible assets with finite lives consist primarily of dealer networks and are carried at their estimated fair values at the time of acquisition, less accumulated amortization. Amortization is recognized on a straight-line basis over the estimated useful lives of the respective assets (see Note 8). Intangible assets that are subject to amortization are evaluated for impairment using a process similar to that used to evaluate long-lived assets described below.

Goodwill

Goodwill results from the excess of purchase price over the net identifiable assets of businesses acquired. All three of the Company's reporting units, which are also the Company's reportable segments, have a goodwill balance.

The Company reviews goodwill for impairment annually, at fiscal yearend, and whenever events or changes in circumstances indicate that the fair value of a reporting unit may be below its carrying value. As part of the annual test, the Company may perform a qualitative, rather than quantitative, assessment to determine whether the fair values of its reporting units are “more likely than not” to be greater than their carrying values. In performing this qualitative analysis, the Company considers various factors, including the effect of market or industry changes and the reporting units' actual results compared to projected results.

If the fair value of a reporting unit does not meet the "more likely than not" criteria discussed above, the impairment test for goodwill is a quantitative test. This test involves comparing the fair value of the reporting unit with its carrying value. If the fair value exceeds the carrying value, goodwill is not considered impaired. If the carrying amount exceeds the fair value then the goodwill is considered impaired and an impairment loss is recognized in an amount by which the carrying value exceeds the reporting unit’s fair value, not to exceed the carrying amount of the goodwill allocated to that reporting unit.

The Company calculates the fair value of its reporting units by considering both the income approach and market approach. The income approach calculates the fair value of the reporting unit using a discounted cash flow method. Internally forecasted future cash flows, which the Company believes reasonably approximate market participant assumptions, are discounted using a weighted average cost of capital (“Discount Rate”) developed for each reporting unit. The Discount Rate is developed using observable market inputs, as well as considering whether or not there is a measure of risk related to the specific reporting unit’s forecasted performance. Fair value under the market approach is determined for each unit by applying market multiples for comparable public companies to the unit’s financial results. The key uncertainties in these calculations are the assumptions used in determining the reporting unit’s forecasted future performance, including revenue growth and operating margins, as well as the perceived risk associated with those forecasts in determining the Discount Rate, along with selecting representative market multiples.

For the year ended June 30, 2019, the Company performed a quantitative test for all three reporting units and determined that the goodwill allocated to the NauticStar reporting unit was impaired. The Company recognized an associated goodwill impairment charge of $28,000 in its statement of operations for the year ended June 30, 2019 (see Note 8). The Company recognized no goodwill impairment for the years ended June 30, 2018 and 2017.

Other Intangible Assets

The Company's primary intangible assets are dealer networks and trade names acquired in business combinations. Intangible assets are initially valued using a methodology commensurate with the intended use of the asset. The dealer networks were valued using an income approach, which requires an estimate or forecast of the expected future cash flows from the dealer network through the application of the multi-period excess earnings approach. The fair value of trade names is measured using a relief-from-royalty approach, a variation of the income approach, which requires an estimate or forecast of the expected future cash flows. This method assumes the value of the trade name is the discounted cash flows of the amount that would be paid to third parties had the Company not owned the trade name and instead licensed the trade name from another company. The basis for future sales projections for these methods are based on internal revenue forecasts by reporting unit, which the Company believes represent reasonable market participant assumptions. The future cash flows are discounted using an applicable Discount Rate as well as any potential risk premium to reflect the inherent risk of holding a standalone intangible asset.

The key uncertainties in these fair value calculations, as applicable, are: assumptions used in developing internal revenue growth and customer expense forecasts, assumed customer attrition rates, the selection of an appropriate royalty rate, as well as the perceived risk associated with those forecasts in determining the Discount Rate.

The costs of amortizable intangible assets, including dealer networks, are recognized over their expected useful lives, approximately ten years for the dealer networks, using the straight-line method. Intangible assets that are subject to amortization are evaluated for impairment using a process similar to that used to evaluate long-lived assets described below. Intangible assets not subject to amortization are assessed for impairment at least annually and whenever events or changes in circumstances indicate that it is more likely than not that an asset may be impaired. The impairment test for indefinite-lived intangible assets consists of a comparison of the fair value of the intangible asset with its carrying amount. An impairment loss is recognized for the amount by which the carrying value exceeds the fair value of the asset.

For the year ended June 30, 2019, the Company recognized a $3,000 impairment charge related to the NauticStar trade name (see Note 8). The Company recognized no impairments related to other intangible assets for the years ended June 30, 2018 and 2017.

Long-Lived Assets Other than Intangible Assets — The Company assesses the potential for impairment of its long-lived assets if facts and circumstances, such as declines in sales, earnings, or cash flows or adverse changes in the business climate, suggest that they may be impaired. The Company performs its review by comparing the book value of the assets to the estimated future undiscounted cash flows associated with the assets. If any impairment in the carrying value of its long-lived assets is indicated, the assets would be adjusted to an estimate of fair value.

Income Taxes — Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. The Company records its global tax provision based on the respective tax rules and regulations for the jurisdictions in which it operates. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates.

Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. Significant judgment is required in evaluating the need for and magnitude of appropriate valuation allowances against deferred tax assets. The realization of these assets is dependent on generating future taxable income.

A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded.

The Company recognizes interest and/or penalties related to income tax matters in income tax expense.

In determining the amount of current and deferred tax the Company takes into account the impact of uncertain tax positions and whether additional taxes, interest and penalties may be due. The Company believes that its accruals for tax liabilities are adequate for all open tax years based on its assessment of many factors, including interpretations of tax law and prior experience. This assessment relies on estimates and assumptions and may involve a series of judgments about future events. New information may become available that causes the Company to change its judgment regarding the adequacy of existing tax liabilities; such changes to tax liabilities will have an impact on tax expense in the period that such a determination is made. The income tax effects of the differences we identify are classified as long-term deferred tax assets and liabilities in our consolidated balance sheets.

Product Warranties — The Company offers warranties on the sale of certain products for periods of between one and five years. These warranties require us or our dealers to repair or replace defective products during the warranty period at no cost to the consumer. We estimate the costs that may be incurred under our basic limited warranty and record as a liability the amount of such costs at the time the product revenue is recognized. Factors that affect our warranty liability include the number of units sold, historical and anticipated rates of warranty claims, and cost per claim. We periodically assess the adequacy of the recorded warranty liabilities and adjust the amounts as actual claims are determined or as changes in the obligations become reasonably estimable.

Research and Development — Research and development expenditures are expensed as incurred. Research and development expense for the years ended June 30, 2019, 2018, and 2017 was $5,566, $4,933, and $3,550, respectively, and is included in operating expenses in the consolidated statements of operations.

Self-Insurance — The Company is self-insured for certain losses relating to product liability claims and employee medical claims. The Company has purchased stop-loss coverage in order to limit its exposure to any significant levels under these plans. Losses are accrued based on the Company’s estimates of the aggregate liability for self-insured claims incurred using certain actuarial assumptions followed in the insurance industry and the Company’s historical experience.

Deferred Debt Issuance Costs — Certain costs incurred to obtain financing are capitalized and amortized over the term of the related debt using the effective interest method. For the years ended June 30, 2019 and 2018 the Company incurred deferred financing costs of $729 and $1,240, respectively. For the year ended June 30, 2017 the Company did not incur any deferred financing costs. For the years ended June 30, 2019, 2018, and 2017 the Company recorded amortization of $553, $496, and $361, respectively.

Share-Based Compensation — The Company records amounts for all share-based compensation, including grants of restricted stock awards, performance stock units, and nonqualified stock options over the vesting period in the consolidated statements of operations based on their fair values at the date of the grant. Forfeitures of share-based compensation, if any, are recognized as they occur. Share-based compensation costs are included in Selling, general and administrative expense in the consolidated statements of Operations. See Note 13 – Share-Based Compensation for a description of the Company's accounting for share-based compensation plans.

Advertising — Advertising costs are expensed as incurred. Advertising expense recognized during the years ended June 30, 2019, 2018, and 2017, was $9,347, $6,787, and $5,201, respectively, and is included in selling and marketing expenses in the consolidated statements of operations.

Fair Value Measurements — The Company measures its financial assets and liabilities and utilizes the established framework for measuring fair value and disclosing information about fair value measurements. Fair value is the price expected to be received to transfer an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Measuring fair value involves a hierarchy of valuation inputs. This hierarchy prioritizes the inputs into three levels as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly; and, Level 3 inputs are unobservable inputs for which little or no market data exists, therefore requiring a company to develop its own valuation assumptions.

Fair Value of Financial Instruments — The carrying amounts of the Company’s financial instruments, consisting of cash and cash equivalents, accounts receivable, accounts payable and other liabilities, approximate their estimated fair values due to the relative short-term nature of the amounts. The carrying amount of debt approximates fair value due to variable interest rates at customary terms and rates the Company could obtain in current financing.

Repurchase Commitments — In connection with its dealers’ wholesale floor-plan financing of boats, the Company has entered into repurchase agreements with various lending institutions. The repurchase commitment is on an individual unit basis with a term from the date it is financed by the lending institution through the payment date by the dealer, generally not exceeding 30 months. The Company accounts for these arrangements as guarantees and recognizes a liability based on the estimated fair value of the repurchase obligation. The estimated fair value takes into account our estimate of the loss we will incur upon resale of any repurchases. The Company has applied these provisions to its floor plan repurchase agreements as disclosed in Notes 9 and 14.

Earnings Per Common Share — Basic earnings per common share reflects reported earnings divided by the weighted average number of common shares outstanding during the reporting period. Diluted earnings per common share include the effect of dilutive stock options and restricted share awards, unless inclusion would not be dilutive.

Operating Leases — The Company leases its Crest production facility and various equipment under operating lease arrangements. Lease agreements may include rent holidays, rent escalation clauses, and tenant improvement allowances. The Company recognizes scheduled rent increases on a straight-line basis over the lease term beginning with the date the Company takes possession of the leased property.

Postretirement Benefits – The Company has a defined contribution plan and makes contributions including matching and discretionary contributions which are based on various percentages of compensation, and in some instances are based on the amount of the employees' contributions to the plans. The expense related to the defined contribution plans was $1,208, $826, and $640 for the years ended June 30, 2019, 2018, and 2017, respectively. Comparability between these years has been affected, primarily, by the acquisition of Crest and NauticStar during the years ended June 30, 2019 and 2018, respectively (See Note 5).

Segment Information — Operating segments are identified as components of an enterprise about which discrete financial information is available for evaluation by the chief operating decision maker in making decisions on how to allocate resources and assess performance. The Company views its operations in three operating segments based on its operation and management structure: MasterCraft, NauticStar, and Crest (see Note 16).

New Accounting Pronouncements Issued But Not Yet Adopted

In June 2018, the Financial Accounting Standards Board (the “FASB”) issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. This guidance provides clarity and reduces complexity when applying the guidance in Topic 718, Compensation—Stock Compensation to the term or condition of share-based payments to nonemployees. ASU 2018-07 is effective for annual reporting periods, and interim periods therein, beginning after December 15, 2018. The Company will adopt this guidance for its fiscal year beginning July 1, 2019. The Company does not expect adoption of this standard to have a material impact on its financial condition, results of operations, or cash flows.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The new standard establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the statement of operations. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. In July 2018, the FASB issued ASU 2018-11, Targeted Improvements, providing for an additional transition method by allowing entities to initially apply the new leases standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings. The Company will adopt the new standard on July 1, 2019 and use the effective date as the date of initial application.

The new standard provides a number of optional practical expedients in transition. The Company expects to elect the ‘package of practical expedients’, which permits it not to reassess under the new standard the Company’s prior conclusions about lease identification, lease classification, and initial direct costs. The Company does not expect to elect the use-of-hindsight or the practical expedient pertaining to land easements; the latter not being applicable to the Company. The Company expects that the most significant effects relate to the recognition of the new ROU assets and lease liabilities on the Company’s balance sheet for its building and equipment operating leases and providing significant new disclosures about its leasing activities. The Company anticipates the adoption of the standard will result in the recognition of approximately $4,000 in right-of-use assets and associated lease obligations on the consolidated balance sheets and will not materially impact results on the consolidated statements of operations.

New Accounting Pronouncements Issued And Adopted

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which provides principle-based accounting guidance for revenue recognition. ASU 2014-09, as amended, became effective for public companies for annual and interim periods beginning after December 15, 2017. Effective July 1, 2018, the Company adopted the new revenue standard using the modified retrospective transition approach by recognizing a cumulative adjustment to the opening balance of retained earnings.

Due to the implementation of ASU 2014-09, the Company has changed the timing of when it records retail promotions and rebates. The cumulative effect of the changes made to the Company’s consolidated balance sheet as of July 1, 2018 for the adoption of the new revenue standard was as follows:

	Balance as of			Adjustments			Balance as of
	June 30, 2018			Due to ASC 606			July 1, 2018
Accrued expenses and other current liabilities	$	27,866		$	4,029		$	31,895
Deferred income taxes		1,427			(938	)		489
Accumulated deficit		(61,717	)		(3,091	)		(64,808	)

The following table summarizes the impact of ASU 2014-09 on the Company’s consolidated statement of operations for the year ended June 30, 2019:

					Balances without
Statement of Operations	As Reported		Effect of Change		adoption of ASC 606
Net sales	$	466,381	$	42	$	466,423
Income before income tax expense		26,746		42		26,788
Income tax expense		5,392		8		5,400
Net income		21,354		34		21,388

The following table summarizes the impact of ASU 2014-09 on the Company’s consolidated balance sheet as of June 30, 2019:

							Balances without
Balance Sheet	As Reported			Effect of Change			adoption of ASC 606
Accrued expenses and other current liabilities	$	41,421		$	(4,071	)	$	37,350
Income taxes		3,870			946			4,816
Accumulated deficit		(43,454	)		3,125			(40,329	)

In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments. ASU 2016-15 addresses how certain cash receipts and cash payments are presented and classified in the statement of cash flows under Topic 230, Statement of Cash Flow, and other Topics. ASU 2016-15 is effective for annual reporting periods, and interim periods therein, beginning after December 15, 2017. The Company adopted this standard for its fiscal year beginning July 1, 2018. The adoption of this standard did not have a material impact on the Company’s financial condition, results of operations, or cash flows.

In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This guidance eliminates Step 2 from the goodwill impairment test. Instead, an entity should recognize an impairment charge for the amount by which the carrying value exceeds the reporting unit’s fair value, not to exceed the total amount of goodwill allocated to that reporting unit. ASU 2017-04 is effective for annual reporting periods, and interim periods therein, beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company early adopted this standard for its annual goodwill impairment tests performed on June 30, 2019. The adoption of this standard did not have a material impact on the Company’s financial condition, results of operations, or cash flows.

REVENUE RECOGNITION

12 Months Ended

Jun. 30, 2019

Revenue From Contract With Customer [Abstract]

REVENUE RECOGNITION

4. REVENUE RECOGNITION

The following table presents the Company’s revenue by major product categories for the year ended June 30, 2019:

	MasterCraft		NauticStar		Crest		Total
Major Product Categories
Boats and trailers	$	301,010	$	77,896	$	75,742	$	454,648
Parts		9,471		85		498		10,054
Other revenue		1,349		14		316		1,679
Total	$	311,830	$	77,995	$	76,556	$	466,381

As of July 1, 2018, the Company had $2,194 of contract liabilities associated with customer deposits. During the year ended June 30, 2019, all of this amount was recognized as revenue. As of June 30, 2019, total contract liabilities were $759 and were reported in Accrued expenses and other current liabilities on the consolidated balance sheet and are expected to be recognized as revenue during the year ended June 30, 2020.

See Note 3 for a description of the Company’s significant revenue recognition policies.

ACQUISITIONS

12 Months Ended

Jun. 30, 2019

Business Combinations [Abstract]

ACQUISITIONS

5. ACQUISITIONS

Crest Acquisition

On October 1, 2018, the Company completed its acquisition of Crest, a manufacturer of pontoon boats. With the acquisition of Crest, the Company expanded its product portfolio and now operates in three segments of the powerboat industry – performance sport boats, outboard saltwater fishing boats and pontoon boats. The purchase price was $81,729, including customary adjustments for working capital in the acquired business at the closing date. For accounting purposes, Crest meets the definition of a business and has been accounted for as a business combination. Beginning October 1, 2018, our consolidated statement of operations include the results of Crest. Since the date of acquisition, net sales of $76,556 and operating income of $7,055 have been included in our consolidated statement of operations.

The total consideration paid has been allocated to the assets acquired and liabilities assumed based on their fair values as of the date of acquisition. Amounts recorded for goodwill and intangible assets are disclosed in Note 8. The measurements of fair value were based on estimates utilizing the assistance of third-party valuation specialists. A combination of income, market and cost approaches were used for the valuation where appropriate, depending on the asset or liability being valued. Valuation inputs in these models and analyses considered market participant assumptions.

Management finalized the valuation related to the assets acquired and liabilities assumed, and the following table summarizes the purchase price allocation for the Crest acquisition:

Purchase Price:
Cash paid, net of cash acquired	$	81,729



Recognized amounts of identifiable assets acquired and (liabilities assumed), at fair value:
Accounts receivable	$	5,215
Inventories		9,853
Other current assets		179
Property, plant and equipment		1,840
Identifiable intangible assets		35,245
Current liabilities		(6,841	)
Fair value of assets acquired and liabilities assumed		45,491
Goodwill		36,238
	$	81,729

The following table summarizes the intangible assets acquired as part of the acquisition:

	Estimates of Fair Value		Estimated Useful Life (in years)
Definite-lived intangible assets:
Dealer network	$	18,000		10
Software		245		5
Indefinite-lived intangible asset:
Trade name		17,000
Total identifiable intangible assets	$	35,245

The value allocated to inventories was based on the expected sales price of the inventory, less an estimated cost to complete and a reasonable profit margin. The value allocated to accounts receivable represents expected collection of those receivables. The fair value of the identifiable intangible assets was determined based on the following approaches:

•

Dealer Network – The value associated with Crest’s dealer network is attributed to its long-standing dealer relationships. The estimate of fair value assigned to this asset was determined using the income approach, which requires an estimate or forecast of the expected future cash flows from the dealer network through the application of the multi-period excess earnings approach.

•

Software – The value attributed to Crest’s software was determined using the replacement cost method, a variation of cost approach, which requires an estimate of the replacement cost and incorporates an obsolescence factor and a developer’s profit margin.

•

Trade Name – The value attributed to Crest’s trade name was determined using the relief from royalty method, a variation of the income approach, which requires an estimate or forecast of the expected future cash flows. The trade name has an indefinite life.

The fair value of the definite-lived intangible assets are being amortized using the straight-line method to recognize the expense over the estimated useful life. Indefinite-lived intangible assets are not amortized, but instead are evaluated for potential impairment on an annual basis. The weighted average useful life of identifiable definite-lived intangible assets acquired was 9.9 years. Goodwill of $36,238 resulting from the acquisition consists of future growth prospects including dealer expansion into new geographic markets and capacity expansion as well as intangible assets that do not qualify for separate recognition. The indefinite-lived intangible assets and goodwill acquired are expected to be deductible for income tax purposes.

The value allocated to property, plant and equipment reflects the fair value of the acquired property, plant and equipment using a combination of the income, cost, and market approaches, which are primarily based on significant Level 2 and Level 3 assumptions, such as estimates of absorption period, lease-up costs, market rent, operating expenses, and terminal capitalization and discount rates.

Acquisition related costs of $1,510, which were incurred by the Company during the fiscal year-ended June 30, 2019, were expensed in the period incurred, and are included in general and administrative expenses in the consolidated statement of operations.

Crest Related Party Transactions

Effective October 1, 2018, in connection with the purchase of Crest, the Company entered into a lease agreement with Crest Marine Real Estate LLC (“Real Estate”) for a manufacturing facility, storage and office building. The ten-year lease expires September 30, 2028, subject to four consecutive five year extension periods. The annual rent is $330 for the first five years of the lease term and will increase to $425 for the remaining five years. Additionally, during the option terms the rent will be adjusted every five years based on the increase in the Consumer Price Index. One of the minority owners of Real Estate is a member of the Crest management team. During the year ended June 30, 2019, the Company recognized related rent expense of $248.

Crest purchases fiberglass component parts from a supplier whose minority owner is the same member of the Crest management team that has a minority ownership in Real Estate. During year ended June 30, 2019, the Company purchased $2,830 of products from the supplier. As of June 30, 2019, the outstanding balance due to the supplier was $146.

NauticStar Acquisition

On October 2, 2017, the Company completed its acquisition of NauticStar which adds to its product diversity. The purchase price was $80,511, including customary adjustments for the amount of working capital in the acquired business at the closing date. The Company accounted for the transaction using the acquisition method.

The total consideration has been allocated to the assets acquired and liabilities assumed based on estimates of their fair values as of the date of acquisition. The Company has recorded the goodwill and intangible assets acquired based on their fair values as of October 2, 2017. The measurements of fair value were based upon estimates utilizing the assistance of third-party valuation specialists.

The following table summarizes the purchase price allocation based on the estimated fair values of the assets acquired and liabilities assumed of NauticStar at the acquisition date:

Purchase Price:
Cash paid, net of cash acquired	$	80,511

Recognized amounts of identifiable assets acquired and (liabilities assumed), at fair value:
Accounts receivable	$	1,773
Inventories		6,358
Other current assets		94
Indemnification asset		166
Deferred income taxes		83
Property, plant and equipment		4,945
Identifiable intangible assets		36,000
Current liabilities		(4,858	)
Unrecognized tax positions		(249	)
Fair value of assets acquired and liabilities assumed		44,312
Goodwill		36,199
	$	80,511

The fair value estimates for the Company’s identifiable intangible assets acquired as part of the acquisition are as follows:

	Estimates of Fair Value		Estimated Useful Life (in years)
Definite-lived intangible:
Dealer network	$	20,000		10
Indefinite-lived intangible:
Trade name		16,000
Total identifiable intangible assets	$	36,000

The value allocated to inventories reflects the fair value of the acquired inventory based on the sales price of the inventory, less cost to complete and a reasonable profit margin. The value allocated to accounts receivable represents the fair value of the acquired receivables based on the expected collection of those receivables. The fair value of the identifiable intangible assets was determined based on the following approaches:

•

Dealer Network - The value associated with NauticStar’s dealer network is attributed to its long-standing dealer distribution network. The estimate of fair value assigned to this asset was determined using the income approach, which requires an estimate or forecast of the expected future cash flows from the dealer network through the application of the multi-period excess earnings approach.

•

Trade Name - The value attributed to NauticStar’s trade name was determined using the relief from royalty method, a variation of the income approach, which requires an estimate or forecast of the expected future cash flows. The trade name has an indefinite life.

The fair value of the definite-lived intangible asset is being amortized using the straight-line method to amortization of intangible assets expense over the estimated useful life. Indefinite-lived intangible assets are not amortized, but instead are evaluated for potential impairment on an annual basis. The weighted average useful life of identifiable definite-lived intangible assets acquired was 10 years. Goodwill of $36,199 resulting from the acquisition consists of future growth prospects including dealer expansion into new geographic markets and capacity expansion as well as intangible assets that do not qualify for separate recognition such as an assembled workforce. The indefinite-lived intangible asset and goodwill acquired are expected to be deductible for income tax purposes.

Acquisition related costs of $1,486, which were incurred by the Company during the fiscal year ended June 30, 2018, were expensed during the period, and are included in general and administrative expenses in the consolidated statement of operations.

Pro Forma Financial Information

The following unaudited pro forma consolidated results of operations for the fiscal year ended June 30, 2019, June 30, 2018 and June 30, 2017, assumes that the acquisition of NauticStar occurred as of July 1, 2017, and the acquisition of Crest occurred as of July 1, 2018. The unaudited pro forma financial information combines historical results of MasterCraft, NauticStar, and Crest with adjustments for depreciation and amortization attributable to preliminary fair value estimates on acquired tangible and intangible assets for the respective periods. Non-recurring pro forma adjustments associated with the fair value step up of inventory were included in the reported pro forma cost of sales and earnings. The unaudited pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisitions had taken place at the beginning of fiscal years 2018 and 2017, or the results that may occur in the future:

	Fiscal Years Ended
	2019		2018		2017
Net sales	$	487,374	$	423,630	$	305,705
Net income	$	21,619	$	38,269	$	20,919
Basic earnings per common share	$	1.16	$	2.06	$	1.13
Diluted earnings per common share	$	1.15	$	2.04	$	1.12

INVENTORIES

12 Months Ended

Jun. 30, 2019

Inventory Disclosure [Abstract]

INVENTORIES

6. INVENTORIES

Inventories at June 30, 2019 and 2018 consisted of the following:

	2019			2018
Raw materials and supplies	$	20,034		$	9,587
Work in process		4,571			2,822
Finished goods		7,207			9,026
Obsolescence reserve		(1,152	)		(968	)
Total inventories	$	30,660		$	20,467

PROPERTY, PLANT, AND EQUIPMENT

12 Months Ended

Jun. 30, 2019

Property Plant And Equipment [Abstract]

PROPERTY, PLANT, AND EQUIPMENT

7. PROPERTY, PLANT, AND EQUIPMENT

Property, plant, and equipment — net at June 30, 2019 and 2018, consisted of the following:

	2019			2018
Land and improvements	$	1,901		$	1,725
Buildings and improvements		15,652			11,960
Machinery and equipment		29,804			22,570
Furniture and fixtures		1,719			943
Construction in progress		4,866			3,564
Total property, plant, and equipment		53,942			40,762
Less accumulated depreciation		(20,306	)		(18,497	)
Property, plant, and equipment — net	$	33,636		$	22,265

Depreciation expense for the years ended June 30, 2019, 2018, and 2017 was $4,295, $3,489, and $3,124, respectively.

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

8. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

The following table summarizes changes in the carrying amount of goodwill for the fiscal years ended June 30, 2019 and 2018.

	MasterCraft		NauticStar			Crest		Total
Balance as of June 30, 2017	$	29,593	$	—		$	—	$	29,593
Goodwill acquired		—		36,199			—		36,199
Balance as of June 30, 2018		29,593		36,199			—		65,792
Goodwill acquired		—		—			36,238		36,238
Impairment charges		—		(28,000	)		—		(28,000	)
Balance as of June 30, 2019	$	29,593	$	8,199		$	36,238	$	74,030

Goodwill acquired during the years ended June 30, 2019 and 2018 are related to the acquisitions as described in Note 5 and are derived from the value of the businesses acquired. The acquisitions represented operating segments added to our reporting structure and the related goodwill was assigned accordingly. For the purpose of goodwill impairment testing, the operating segments (MasterCraft, NauticStar and Crest) are considered reporting units and are tested on a stand-alone basis.

We performed our annual goodwill analysis as of June 30, 2019 and elected to early adopt ASU 2017-14 (See Note 3). The goodwill impairment analysis required significant judgements to calculate the fair value for each reporting unit, including estimation of future cash flows, which is dependent on internal forecasts, estimation of long-term growth rate for each reporting unit, and determination of the weighted average cost of capital. A number of significant assumptions and estimates are involved in the application of the discounted cash flow model to forecast operating cash flows, including market growth and market share, sales volumes and prices, costs to produce, discount rate, and estimated capital needs. Management considers historical experience and all available information at the time that the fair values of its reporting units are estimated. Assumptions in estimating future cash flows are subject to a high degree of judgment and complexity. Changes in assumptions and estimates may affect the fair value of goodwill and could result in impairment charges in future periods. As a result of our analysis, we recorded a goodwill impairment charge of $28,000 related to the NauticStar reporting unit. The impairment was principally a result of a decline, in the fiscal fourth quarter, in the outlook for sales and operating performance relative to our acquisition plan. This charge is included in Goodwill and other intangible asset impairment on the June 30, 2019 consolidated statement of operations. No goodwill impairment charges were recorded for the MasterCraft or Crest reporting units. It is possible that the Company’s assumptions regarding the key uncertainties in these fair value calculations could change in the near term. If actual results differ from the Company’s assumptions regarding the key uncertainties in these fair value calculations, it is possible that one or more of the Company’s reporting units could incur goodwill impairment charges in future periods.

NauticStar goodwill as of June 30, 2019 was $8,199. If our assessment of the relevant facts and circumstances change, or if the actual performance falls short of expected results, future impairment charges may be required. An impairment of goodwill may also lead us to record an impairment of other intangible assets.

We completed our annual goodwill impairment review during the fiscal fourth quarters of 2018 and 2017 and concluded that there were no indicators of goodwill impairment during those periods.

Other Intangible Assets

We have identified intangible assets with definite and indefinite lives primarily representing dealer networks, software and trade names. In fiscal 2019 and 2018, the acquisition of Crest added $35,245 and the acquisition of NauticStar added $36,000 of intangible assets respectively. The intangible assets acquired primarily represent trade names and dealer networks with a weighted average estimated useful life of the acquired assets of 10 years. Refer to Note 5 for further discussion regarding the 2019 and 2018 acquisitions.

The following table presents changes in the carrying amount of other intangible assets, net.

	MasterCraft			NauticStar			Crest			Total
Balance as of June 30, 2017	$	16,643		$	—		$	—		$	16,643
Amortization		(107	)		(1,490	)		—			(1,597	)
Intangible assets acquired		—			36,000			—			36,000
Balance as of June 30, 2018	$	16,536		$	34,510		$	—		$	51,046
Amortization		(107	)		(1,998	)		(1,387	)		(3,492	)
Intangible assets acquired		—			—			35,245			35,245
Impairment charges		—			(3,000	)		—			(3,000	)
Total other intangible assets	$	16,429		$	29,512		$	33,858		$	79,799

The following table presents the cost and accumulated amortization of our other intangible assets as of June 30, 2019 and 2018.

			June 30, 2019
	Estimated		Gross
	Useful		Carrying		Accumulated						Net Carrying
	Life in Years		Amount		Amortization			Impairment			Value
Dealer network	10 -14		$	39,500	$	(5,909	)	$	—		$	33,591
Software		5		245		(37	)		—			208
Trade names	Indefinite			49,000		—			(3,000	)		46,000
Total identified other intangible assets			$	88,745	$	(5,946	)	$	(3,000	)	$	79,799

		June 30, 2018
	Estimated	Gross
	Useful	Carrying		Accumulated					Net Carrying
	Life in Years	Amount		Amortization			Impairment		Value
Dealer network	10 -14	$	21,500	$	(2,454	)	$	—	$	19,046
Trade names	Indefinite		32,000		—			—		32,000
Total identified other intangible assets		$	53,500	$	(2,454	)	$	—	$	51,046

Intangible assets that become fully amortized are removed from the accounts and are no longer represented in the gross carrying value or accumulated amortization. The trade names have been determined to have indefinite lives and are not being amortized, based on management’s expectation that trade names will generate cash flows for an indefinite period. Management expects to maintain usage of the trade names on existing products and introduce new products in the future under the trade names, thus extending their lives indefinitely.

During our annual assessment of indefinite-lived intangibles, trade names, the Company recorded an impairment charge on trade names of $3,000 related to the NauticStar reporting unit. The impairment was principally a result of a decline, in the fiscal fourth quarter, in the outlook for sales and operating performance relative to our acquisition plan. This charge was included in Goodwill and other intangible asset impairment on the consolidated statement of operations. No other intangible asset impairment loss was recorded for the MasterCraft or Crest reporting units.

Amortization expense for the fiscal years ended June 30, 2019, 2018, and 2017, was $3,492, $1,597 and $107, respectively. Estimated amortization expense for the five years subsequent to June 30, 2019, is presented in the following table:

Fiscal years ending June 30,
2020	$	3,956
2021		3,956
2022		3,956
2023		3,956
2024		3,815
and thereafter		14,160
Total	$	33,799

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12 Months Ended

Jun. 30, 2019

Accrued Liabilities And Other Liabilities [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

9. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities at June 30, 2019 and 2018, consisted of the following:

	2019		2018
Warranty	$	17,205	$	13,077
Dealer incentives		12,623		4,628
Compensation and related accruals		3,494		2,997
Floor plan interest		2,060		1,228
Inventory repurchase contingent obligation		1,936		1,265
Self-insurance		606		703
Debt interest		405		244
Other		3,092		3,724
Total accrued expenses and other current liabilities	$	41,421	$	27,866

The following table summarizes the activity in the accrued warranty liability for the years ended June 30, 2019 and 2018:

	2019			2018
Beginning balance	$	13,077		$	12,237
Additions for business acquisitions		990			945
Provisions		8,056			6,523
Payments made		(7,198	)		(4,427	)
Adjustments to preexisting warranties		2,280			(2,201	)
Ending balance	$	17,205		$	13,077

FAIR VALUE MEASUREMENTS

12 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

10. FAIR VALUE MEASUREMENTS

Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values:

Level 1 — Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.

Level 2 — Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3 — Significant unobservable inputs that reflect a company’s own assumptions about the inputs that market participants would use in pricing an asset or liability.

When determining the fair value measurements for assets or liabilities required or permitted to be recorded at and/or marked to fair value, the Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability. When possible, the Company looks to active and observable markets to price identical assets. When identical assets are not traded in active markets, the Company looks to market observable data for similar assets.

Fair Value Measurements on a Recurring Basis

The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2019 and 2018:

2019 Fair Measurements at the End of the Reporting Period Using

Quoted Prices in Active Markets for Identical Assets

(Level 1)

Significant Other Observable Inputs

(Level 2)

Significant Unobservable Inputs

(Level 3)

Asset — interest rate cap

—

2018 Fair Measurements at the End of the Reporting Period Using

Quoted Prices in Active Markets for Identical Assets

(Level 1)

Significant Other Observable Inputs

(Level 2)

Significant Unobservable Inputs

(Level 3)

Asset — interest rate cap

—

525

—

Interest Rate Cap

In November 2017, the Company entered into an interest rate cap agreement (“Interest Rate Cap”) with a certain financial institution. The Interest Rate Cap provides for the Company to receive monthly payments based on (i) an amortizing notional amount and (ii) the amount by which the one-month London Inter-Bank Offered Rate exceeds 2.00%. The notional amount as of June 30, 2019 was $32,813. The Interest Rate Cap will terminate on December 31, 2020.

The Interest Rate Cap is valued utilizing pricing models which use inputs such as interest rate forecasts and notional amounts. Fair value measurements for the Company’s Interest Rate Cap are classified under Level 2 because such measurements are based on significant other observable inputs. There were no transfers of assets or liabilities between Level 1 and Level 2 during the fiscal year ended June 30, 2019.

Fair Value Measurements on a Nonrecurring Basis

NauticStar Goodwill — The Company performed its annual goodwill analysis as of June 30, 2019. As a result, the fair value of goodwill attributable to the NauticStar reporting unit was estimated to be $8,199 as of June 30, 2019. Inputs used to estimate this fair value include significant unobservable inputs that reflect the Company’s own assumptions about the inputs that market participants would use and, therefore, goodwill attributable to the NauticStar reporting unit is classified within Level 3 of the fair value hierarchy.

NauticStar Trade Name — During the goodwill assessment noted above, the Company also analyzed indefinite-lived assets, or trade names. As a result, the fair value of the NauticStar trade name was estimated to be $13,000 as of June 30, 2019. Inputs used to estimate this fair value include significant unobservable inputs that reflect the Company’s own assumptions about the inputs that market participants would use and, therefore, the NauticStar trade name is classified within Level 3 of the fair value hierarchy.

See Note 8 for a description of the valuation techniques and inputs used in the fair value measurement of goodwill attributable to the NauticStar reporting unit and the NauticStar trade name.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

LONG-TERM DEBT

12 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

LONG-TERM DEBT

11. LONG-TERM DEBT

Long-term debt outstanding at June 30, 2019 and 2018 was as follows:

	2019			2018
Revolving credit facility	$	—		$	—
Senior secured term loans		115,349			76,656
Deferred debt issuance costs on term loans		(1,608	)		(1,500	)
Total debt		113,741			75,156
Less current portion of long-term debt		9,167			5,475
Less current portion of deferred debt issuance costs on term loans		(442	)		(406	)
Long-term debt — less current portion	$	105,016		$	70,087

Previously Existing Credit Facilities

In May 2016, the Company entered into a Second Amended and Restated Credit and Guaranty Agreement with a syndicate of certain financial institutions (the “Prior Credit Agreement”). The Prior Credit Agreement replaced the Company’s First Amended Credit Agreement, dated March 13, 2015 (as amended in February 2016). The Prior Credit Agreement provided the Company with an $80,000 senior secured credit facility, consisting of a $50,000 term loan and a $30,000 revolving credit facility. The Company used the proceeds to pay a $79,945 cash dividend to common stockholders in June 2016. The cash dividend payment per share was $4.30 based on shares outstanding as of June 6, 2016.

On October 2, 2017, the Company entered into a Third Amended and Restated Credit and Guaranty Agreement with a syndicate of certain financial institutions (the “Third Amended Credit Agreement”). The Third Amended Credit Agreement replaced and paid off the Company’s Prior Credit Agreement, dated May 27, 2016. The Third Amended Credit Agreement provided the Company with a $145,000 senior secured credit facility, consisting of a $115,000 term loan (the “Third Term Loan”) and a $30,000 revolving credit facility. A portion of the proceeds from the Third Amended Credit Agreement were used for the Company’s acquisition of NauticStar.

The Third Amended Credit Agreement bore interest, at the Company’s option, at either the prime rate plus an applicable margin ranging from 0.75% to 1.75% or at an adjusted LIBOR plus an applicable margin ranging from 1.75% to 2.75%, in each case based on the Company’s senior leverage ratio. Based on the Company’s senior leverage ratio for the fiscal year ended June 30, 2018, the applicable margin for loans accruing interest at the prime rate was 1.0% and the applicable margin for loans accruing interest at LIBOR was 2.0%. In connection with the Third Amended Credit Agreement, the Company paid $1,240 of deferred debt issuance costs during the year ended June 30, 2018.

Current Credit Facility

On October 1, 2018, the Company entered into a Fourth Amended and Restated Credit and Guaranty Agreement with a syndicate of certain financial institutions (the “Fourth Amended Credit Agreement”). The Fourth Amended Credit Agreement replaced the Company’s Third Amended and Restated Credit Agreement, dated October 2, 2017. The Fourth Amended Credit Agreement provides the Company with a $190,000 senior secured credit facility, consisting of a $75,000 term loan, and an $80,000 term loan (together, the “Term Loans”), and a $35,000 revolving credit facility (the “Revolving Credit Facility”). Proceeds from the $80,000 term loan were used to fund the Crest acquisition. The Fourth Amended Credit Agreement is secured by substantially all the assets of the Company. Holdings is a guarantor on the Fourth Amended Credit Agreement and the Fourth Amended Credit Agreement contains covenants that restrict the ability of Holdings’ subsidiaries to make distributions to Holdings. The Term Loans will mature and all remaining amounts outstanding thereunder will be due and payable on October 1, 2023. In connection with the Fourth Amended Credit Agreement, the Company paid $729 of deferred debt issuance costs during the year ended June 30, 2019.

Maturities for the Term Loans subsequent to June 30, 2019 are as follows:

Fiscal years ending June 30,
2020	$	9,167
2021		9,167
2022		11,459
2023		12,222
2024		73,334
Total	$	115,349

The Fourth Amended Credit Agreement bears interest, at the Company’s option, at either the prime rate plus an applicable margin ranging from 0.5% to 1.5% or at an adjusted LIBOR rate plus an applicable margin ranging from 1.5% to 2.5%, in each case based on the Company’s senior leverage ratio. Based on the Company’s senior leverage ratio as of June 30, 2019, the applicable margin for loans accruing interest at the prime rate is 0.75% and the applicable margin for loans accruing interest at LIBOR is 1.75%. As of June 30, 2019 and 2018, the effective interest rate on borrowings outstanding was 4.48% and 4.28%, respectively.

During the year ended June 30, 2019, the Company made voluntary prepayments on the Term Loans of $32,660, using cash generated from operations. As of June 30, 2019 and 2018, the Company’s unamortized debt issuance costs related to the Term Loans were $1,608 and $1,500, respectively. These costs are being amortized over the term of the Fourth Amended Credit Agreement.

As of June 30, 2019, the Company had no borrowings outstanding on its Revolving Credit Facility and the availability under the Revolving Credit Facility was $35,000. The Company’s unamortized debt issuance costs related to the Revolving Credit Facility was $451 and $383 as of June 30, 2019 and 2018, respectively. As of June 30, 2019, the Company was in compliance with all of its debt covenants under its Fourth Amended Credit Agreement.

INCOME TAXES

12 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

INCOME TAXES

12. INCOME TAXES

Earnings from continuing operations before income taxes and equity by jurisdiction were all in the U.S. except for income of $70 and $112 and a loss of $53 in 2019, 2018 and 2017, respectively.

For the years ended June 30, the components of the provision for income taxes are as follows:

	For the Years Ended June 30,
	2019			2018				2017
Current income tax expense:
Federal	$	10,405			$	12,140			$	5,803
State		1,892				276				1,584
Benefit of operating loss carryforwards		(171	)			(117	)			(118	)
Total current tax expense		12,126				12,299				7,269
Deferred tax (benefit) expense:
Federal		(5,837	)			525				4,154
State		(897	)			32				300
Total deferred tax (benefit) expense		(6,734	)			557				4,454
Income tax expense	$	5,392			$	12,856			$	11,723

The difference between the statutory and the effective federal tax rate for the periods below is attributable to the following:

	For the Years Ended June, 30
	2019				2018				2017
Statutory income tax rate		21.00		%		28.06		%		35.00		%
State taxes (net of federal income tax benefit and valuation allowance)		2.48				2.32				2.83
Change in valuation allowance		(0.57	)			—				—
Tax credits		(3.39	)			(0.44	)			(0.62	)
Revalue of deferred taxes for change in federal tax rate		—				(1.23	)			—
Uncertain tax positions		3.10				(1.73	)			1.93
Permanent differences		(2.54	)			(2.41	)			(1.72	)
Other		0.08				(0.09	)			0.04
Effective income tax rate		20.16		%		24.48		%		37.46		%

As of June 30, 2019 and 2018, a summary of the significant components of the Company’s deferred tax assets and liabilities was as follows:

	2019			2018
Deferred tax assets:
Warranty reserves	$	3,848		$	2,898
Intangible asset basis difference		2,306			—
Repurchase agreements		427			247
Accrued selling		1,354			—
Unrecognized tax benefits		520			357
Stock Compensation		704			467
State net operating loss		144			130
Foreign net operating loss		79			81
Valuation allowance		(81	)		(211	)
Credits		48			—
Total deferred tax assets		9,349			3,969
Deferred tax liabilities:
Depreciation		(3,037	)		(1,262	)
Intangible asset basis difference		—			(4,009	)
Other		(72	)		(125	)
Total deferred tax liabilities		(3,109	)		(5,396	)
Net deferred tax assets (liabilities)	$	6,240		$	(1,427	)

	2019		2018
Noncurrent deferred tax assets (liabilities)		6,240		(1,427	)
Net deferred tax assets (liabilities)	$	6,240	$	(1,427	)

The Tax Cuts and Jobs Act (“Tax Reform Act”), which became effective December 22, 2017, overhauls U.S. corporate income tax law by lowering the U.S. federal corporate income tax rate from 35% to 21% (blended rate in year one for fiscal year filers), implementing a territorial tax system, imposing a one time “deemed repatriation” tax on all untaxed offshore earnings, and adding/modifying/deleting several major tax deductions significant to the Company.

The Company’s deferred tax liabilities decreased $647 in fiscal 2018 from the impact of the corporate tax rate change from the Tax Reform Act.

The Company has state net operating loss (NOL) carryforwards of $2,785 that expire in varying years ranging from June 30, 2024 to June 30, 2029, and foreign NOL carryforwards of $376 that can be carried forward indefinitely. However, the Company determined that it is more likely than not that the benefit from certain state and foreign NOL carryforwards will not be realized. In recognition of this risk, the Company has provided a partial valuation allowance on the deferred tax assets relating to these state and foreign NOL carryforwards.

Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding accrued amounts for interest and penalties, is as follows:

	2019			2018
Balance at July 1	$	1,711		$	2,442
Additions based on tax positions related to the current year		889			373
Additions for tax positions of prior years		473			180
Reductions for tax positions of prior years		(25	)		(61	)
Settlements of tax positions from prior years		(544	)		(1,223	)
Balance at June 30	$	2,504		$	1,711

Of this total, $1,934 and $1,308 as of June 30, 2019 and 2018, respectively represent the amount of unrecognized tax benefits that, if recognized, would favorably affect the effective income tax rate in future periods. The total amount of interest and penalties recorded in the consolidated statements of operations for the years ended June 30, 2019, and 2018 was an expense of $120, and a benefit of $288, respectively. The amounts accrued for interest and penalties at June 30, 2019 and 2018 were $391 and $271 respectively and is presented in unrecognized tax positions on the accompanying consolidated balance sheets.

In general, it is the practice and intention of the Company to reinvest the earnings of its non-U.S. subsidiaries in those operations. As of June 30, 2019, the Company has not made a provision for U.S. or additional foreign withholding taxes on investments in foreign subsidiaries that are indefinitely reinvested. Generally, such amounts become subject to U.S. taxation upon the remittance of dividends and under certain other circumstances.

The Company and its subsidiaries are subject to U.S. federal income tax, as well as various other state income taxes and foreign income taxes. The Company is no longer subject to examination by taxing authorities for years before June 30, 2016. The Company expects the total amount of unrecognized benefits to increase by approximately $968 in the next twelve months. The Company records unrecognized tax benefits as liabilities and adjusts these liabilities when its judgment changes as a result of the evaluation of new information not previously available. Because of the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from our current estimate of the unrecognized tax benefit liabilities. These differences will be reflected as increases or decreases to income tax expense in the period in which new information is available.

SHARE-BASED COMPENSATION

12 Months Ended

Jun. 30, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

SHARE-BASED COMPENSATION

13. SHARE-BASED COMPENSATION

During the year ended June 30, 2015 the Company adopted the Amended and Restated MCBC Holdings, Inc. 2015 Incentive Award Plan (“2015 Plan”) in order to facilitate the grant of cash and equity incentives to non-employee directors, employees, and consultants of the Company and certain of its affiliates and to enable the Company and certain of its affiliates to obtain and retain the services of these individuals, which is essential to its long-term success. On July 16, 2015 the Board amended and restated the 2015 Plan which provided that the aggregate number of shares available to be issued thereunder was 220,723. On July 22, 2015, the Company consummated an 11.139-for-1 stock split in connection with the Company’s initial public offering (“Stock Split”). In accordance with the terms of the 2015 Plan, the Stock Split increased the shares available for issuance commensurately, to 2,458,633 shares. The Plan provides for the grant of stock options, including incentive stock options, and nonqualified stock options (“NSOs”), restricted stock, dividend equivalents, stock payments, restricted stock units, restricted stock awards (“RSAs”), deferred stock, deferred stock units, performance awards, stock appreciation rights, performance stock units (“PSUs”), and cash awards. As of June 30, 2019, there were 1,613,864 shares available for issuance under the 2015 Plan.

Restricted Stock Awards

Beginning in fiscal year 2017, all RSAs granted to non-employees vest over the remainder of that fiscal year, and all RSAs granted to employees vest over a period of between one to three years. Generally, non-vested RSAs are forfeited if employment is terminated prior to vesting. RSAs are granted at a per share fair value equal to the market value of the Company’s common stock on the grant date. The Company recognizes the cost of non-vested RSAs ratably over the requisite service period.

During the years ended June 30, 2019, 2018 and 2017, the Company recognized $913, $616, and $321, respectively, of compensation expense for non-vested RSAs. The related income tax benefit recognized during the years ended June 30, 2019, 2018 and 2017 was $217, $190, and $121, respectively. The fair value of RSAs vested during the years ended June 30, 2019, 2018, and 2017 was $713, $434, and $240, respectively.

A summary of RSA activity for the years ended June 30, 2019, 2018 and 2017, is as follows:

	Number of Restricted Stock Awards Outstanding			Weighted Average Grant Date Fair Value
Total Non-vested Restricted Stock Awards at June 30, 2016		—		$	—
Granted		47,131			12.22
Vested		(18,740	)		18.94
Forfeited		(1,974	)		19.55
Total Non-vested Restricted Stock Awards at June 30, 2017		26,417			12.22
Granted		47,651			19.88
Vested		(25,870	)		16.79
Forfeited		(4,888	)		15.89
Total Non-vested Restricted Stock Awards at June 30, 2018		43,310			17.28
Granted		51,995			26.79
Vested		(33,093	)		21.54
Forfeited		(8,408	)		23.08
Total Non-vested Restricted Stock Awards at June 30, 2019		53,804			22.94

As of June 30, 2019, there was $764 of total unrecognized compensation expense related to non-vested RSAs. The Company expects this expense to be recognized over a weighted average period of 1.75 years.

Performance Stock Units

During the years ended June 30, 2019, 2018, and 2017, the Company granted performance shares to certain employees. The awards will be earned based on the Company’s achievement of certain performance criteria over a three-year performance period. The performance period for the awards commence on July 1 of the fiscal year in which they were granted and continue for a three-year period, ending on June 30 of the applicable year. The probability of achieving the performance criteria is assessed quarterly. Following the determination of the Company’s achievement with respect to the performance criteria, the amount of shares awarded will be subject to adjustment based on the application of a total shareholder return (“TSR”) modifier. The grant date fair value is determined based on both the assessment of the probability of the Company’s achieving the performance criteria and an estimate of the expected TSR modifier. The TSR modifier estimate is determined by using a Monte Carlo Simulation model, which considers the likelihood of all possible outcomes of long-term market performance. Compensation expense related to non-vested PSUs is recognized ratably over the performance period.

During the years ended June 30, 2019, 2018 and 2017, the Company recognized $563, $355, and $150, respectively, of compensation expense for non-vested PSUs. The related income tax benefit recognized during the years ended June 30, 2019, 2018 and 2017 was $134, $110, and $56, respectively. The fair value of PSUs vested during the year ended June 30, 2019 was $384. No PSUs vested during the years ended June 30, 2018 and 2017.

A summary of PSU activity for the years ending June 30, 2019, 2018 and 2017, is as follows:

	Number of Performance Stock Units Outstanding			Weighted Average Grant Date Fair Value
Total Non-vested Performance Stock Units at June 30, 2016		—		$	—
Granted		42,586			11.85
Vested		—			—
Forfeited		(1,974	)		11.85
Total Non-vested Performance Stock Units at June 30, 2017		40,612			11.85
Granted		26,416			19.62
Vested		—			—
Forfeited		(7,700	)		14.42
Total Non-vested Performance Stock Units at June 30, 2018		59,328			14.98
Granted		35,122			25.70
Vested		(32,373	)		11.85
Forfeited		(11,456	)		19.73
Total Non-vested Performance Stock Units at June 30, 2019		50,621			23.34

As of June 30, 2019, there was $750 of total unrecognized compensation expense related to non-vested PSUs. The Company expects this expense to be recognized over a weighted average period of 1.8 years.

Nonqualified Stock Options

In July 2015, the Company granted 137,786 NSOs to certain employees at an option price equal to the $15.00 per share of the Company’s common stock, which was the initial public offering price. These NSOs vested in four equal annual installments on each of the first four grant date anniversaries. Pursuant to the terms of the 2015 Plan, the exercise price of options were reduced by $4.30, the amount of the special cash dividend paid on June 10, 2016, from an exercise price of $15.00 to an exercise price of $10.70. The other terms of the options remain unchanged.

The Company estimated the grant date fair value of stock options using the Black-Scholes pricing model assuming a risk-free interest rate of 1.93%, an expected term of 6.25 years, no dividend yield and a volatility rate of 56.7%. The Company determined that it did not have sufficient information on which to base a reasonable and supportable estimate of expected volatility of its share price, because of limited or no active stock transactions with third parties. Therefore, the Company elected to use the calculated value method. Under this method, the Company used comparable public companies to estimate expected volatility. The Company used historical data to estimate option exercise and post-vesting termination behavior. The risk-free interest rate for the expected term of the option was based on the U.S. Treasury yield curve in effect at the time of the grant.

During the years ended June 30, 2019, 2018 and 2017, the Company recognized $201, $215, and $240, respectively, of compensation expense for non-vested NSOs. The related income tax benefit recognized during the years ended June 30, 2019, 2018 and 2017 was $48, $66, and $91, respectively. The fair value of NSOs vested during the years ended June 30, 2019, 2018, and 2017 was $215, $215, and $253, respectively.

A summary of NSO activity for the years ending June 30, 2019, 2018, and 2017 is as follows:

						Weighted
				Weighted		Average
				Average		Remaining		Aggregate
				Exercise		Contractual		Intrinsic
	Shares			Price		Term (Yrs.)		Value
Outstanding at June 30, 2016		122,640		$	10.70		9.1	$	43
Granted		—			-	—			-
Exercised		(1,578	)		10.70		—		-
Forfeited or expired		(4,734	)		10.70		—		-
Outstanding at June 30, 2017		116,328			10.70		8.1		1,030
Granted		—			-	—			-
Exercised		(10,905	)		10.70		—		-
Forfeited or expired		(12,298	)		10.70		—		-
Outstanding at June 30, 2018		93,125			10.70		7.1		1,700
Granted		—			-	—			-
Exercised		(10,563	)		10.70		—		-
Forfeited or expired		(1,703	)		10.70		—		-
Outstanding at June 30, 2019		80,859			10.70		6.1		719

Fully vested and exercisable at June 30, 2019		56,556			10.70		6.1		503

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Jun. 30, 2019

Commitments And Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

14. COMMITMENTS AND CONTINGENCIES

Operating Leases

The Company leases certain equipment as well as the Crest production facility in Owosso, Michigan under operating lease agreements expiring through 2029. Rental expense for the years ended June 30, 2019, 2018, and 2017 was $712, $666, and $603, respectively. Future minimum rental payments under all non-cancelable operating leases with remaining lease terms in excess of one year at June 30, 2019, are as follows:

Fiscal years ending June 30,
2020	$	703
2021		690
2022		628
2023		402
2024		402
and thereafter		1,806
Total	$	4,631

Repurchase Obligations

Under certain conditions, the Company is obligated to repurchase new inventory repossessed from dealerships by financial institutions that provide credit to boat dealerships. Under the terms of these repurchase agreements, the Company is obligated to repurchase inventory repossessed by these financial institutions for a period ranging up to 30 months from the date of the original sale of the products to the respective dealers. Repossession of products by the financial institutions normally occurs when a dealer goes out of business or defaults with a lender. The maximum obligation of the Company under such floor plan agreements totaled approximately $229,744 as of June 30, 2019. We incurred no material impact from repurchase events during the years ended June 30, 2019, 2018, and 2017. The Company recorded a repurchase liability of $1,936 and $1,265 as of June 30, 2019 and 2018, respectively, after giving effect to proceeds anticipated to be received from the resale of those products to alternative dealers, and taking into consideration the credit quality of the dealers.

Purchase Commitments

The Company is engaged in an exclusive contract with a single vendor to provide engines for its MasterCraft performance sport boats. This contract makes this vendor the only supplier to MasterCraft for in-board engines and expires June 30, 2023. The Company is obligated to purchase a minimum number of engines for each model year under this contract. The Company could also be required to pay a penalty to this vendor in order to maintain exclusivity if annual purchases under the agreement fail to meet a certain threshold.

Legal Proceedings

The Company is involved in certain claims and legal actions arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters is not expected to have a material adverse effect on the Company’s financial condition or results of operations.

EARNINGS PER SHARE

12 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

EARNINGS PER SHARE

15. EARNINGS PER SHARE

The factors used in the earnings per share computation are as follows:

	2019		2018		2017
Net income	$	21,354	$	39,653	$	19,570
Weighted average common shares — basic		18,653,892		18,619,793		18,592,885
Dilutive effect of assumed exercises of stock options		45,799		38,835		4,488
Dilutive effect of assumed restricted share awards/units		68,516		55,904		23,335
Weighted average outstanding shares — diluted		18,768,207		18,714,531		18,620,708
Basic earnings per share	$	1.14	$	2.13	$	1.05
Diluted earnings per share	$	1.14	$	2.12	$	1.05

The calculation of dilutive earnings per share for the years ended June 30, 2019, 2018, and 2017, exclude 10,681, 25,908, and 100,247 potentially dilutive stock options and restricted share awards/units which had the effect of being anti-dilutive.

SEGMENT INFORMATION

12 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

SEGMENT INFORMATION

16. SEGMENT INFORMATION

The Company designs, manufactures, and markets recreational performance sport boats, luxury day boats, and outboard boats under three operating and reportable segments: MasterCraft, NauticStar, and Crest. The Company’s segments are defined by the Company’s operational and reporting structures.

MasterCraft Segment

The MasterCraft segment produces boats under two product brands, MasterCraft and Aviara, at its Vonore, Tennessee facility. MasterCraft boats are premium recreational performance sport boats primarily used for water skiing, wakeboarding, wake surfing, and general recreational boating. Aviara boats are luxury day boats primarily used for general recreational boating. Production of Aviara boats began during the year ended June 30, 2019 and the Company began selling these boats in July 2019.

NauticStar Segment

The NauticStar segment produces boats at its Amory, Mississippi facility. NauticStar’s boats are primarily used for saltwater fishing and general recreational boating.

Crest Segment

The Crest segment produces pontoon boats at its Owosso, Michigan facility. Crest’s boats are primarily used for general recreational boating.

Each segment distributes its products through its own dealer network. The Company’s chief operating decision maker (“CODM”) regularly reviews the operating performance of each segment including measures of performance based on operating income. Each segment has its own management structure which is responsible for the operations of the segment and which is directly accountable to the CODM. The Company files a consolidated income tax return and does not allocate income taxes and other corporate-level expenses, including interest, to operating segments. All material corporate costs are allocated to the MasterCraft segment.

Sales outside of North America accounted for 5.2%, 7.5%, and 9.1% of the Company’s net sales for the years ended June 30, 2019, 2018, and 2017, respectively. The Company had no significant concentrations of sales to individual dealers or countries outside of North America during the years ended June 30, 2019 and 2018.

The following tables present selected financial information for the Company’s reportable segments for the years ended June 30, 2019, and 2018.

	Year Ended June 30, 2019
	MasterCraft		NauticStar			Crest		Consolidated
Net sales	$	311,830	$	77,995		$	76,556	$	466,381
Operating income		53,989		(27,785	)		7,055		33,259
Depreciation and amortization		3,481		2,684			1,622		7,787
Goodwill and other intangible asset impairment		—		31,000			—		31,000
Purchases of property and equipment		11,730		2,069			265		14,064

	Year Ended June 30, 2018
	MasterCraft		NauticStar		Crest		Consolidated
Net sales	$	266,319	$	66,406	$	—	$	332,725
Operating income		49,363		6,620		—		55,983
Depreciation and amortization		3,283		1,803		—		5,086
Purchases of property and equipment		4,234		1,071		—		5,305

	As of June 30, 2019			As of June 30, 2018
Assets
MasterCraft	$	273,046		$	170,218
NauticStar		52,761			87,866
Crest		85,979			—
Eliminations		(163,013	)		(81,160	)
Total Assets	$	248,773		$	176,924

QUARTERLY FINANCIAL REPORTING (UNAUDITED)

12 Months Ended

Jun. 30, 2019

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL REPORTING (UNAUDITED)

17. QUARTERLY FINANCIAL REPORTING (UNAUDITED)

The Company maintains its financial records on the basis of a fiscal year ending on June 30, with the fiscal quarters equaling thirteen weeks. The following tables set forth summary quarterly financial information for the years ended June 30, 2019 and 2018. Due to effects of rounding, the quarterly results presented may not sum to the fiscal year results presented.

	Quarter Ended									Fiscal Year Ended
	June 30, 2019			March 31, 2019		December 30, 2018		September 30, 2018		June 30, 2019
Net sales	$	122,809		$	128,390	$	121,541	$	93,641	$	466,381
Gross profit		31,493			31,357		27,074		23,203		113,127
Operating income (loss)		(11,538	)		18,464		14,722		11,611		33,259
Net income (loss)	$	(10,062	)	$	12,763	$	10,188	$	8,465	$	21,354
Basic earnings per common share (loss)	$	(0.54	)	$	0.68	$	0.55	$	0.45	$	1.14
Diluted earnings per common share (loss)	$	(0.54	)	$	0.68	$	0.54	$	0.45	$	1.14
Weighted average shares used for computation of:
Basic earnings (loss) per common share		18,658,701			18,657,719		18,653,111		18,646,039		18,653,892
Diluted earnings (loss) per common share		18,658,701			18,756,605		18,772,322		18,768,764		18,768,207

	Quarter Ended								Fiscal Year Ended
	June 30, 2018		April 1, 2018		December 31, 2017		October 1, 2017		June 30, 2018
Net sales	$	95,430	$	93,811	$	78,435	$	65,049	$	332,725
Gross profit		27,885		24,382		19,934		18,163		90,364
Operating income		18,938		15,199		10,782		11,064		55,983
Net income	$	13,144	$	11,454	$	8,009	$	7,046	$	39,653
Basic earnings per common share	$	0.71	$	0.62	$	0.43	$	0.38	$	2.13
Diluted earnings per common share	$	0.70	$	0.61	$	0.43	$	0.38	$	2.12
Weighted average shares used for computation of:
Basic earnings per common share		18,619,834		18,622,083		18,619,834		18,615,100		18,619,793
Diluted earnings per common share		18,702,352		18,728,424		18,702,352		18,686,626		18,714,531

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Principles of Consolidation

Immaterial Correction of Error

Use of Estimates

Revenue Recognition

Dealer Incentives

Floor Plan Reimbursement Costs

Shipping and Handling Costs

Contract Liabilities

Other Revenue Recognition Matters

Accounts Receivable

Cash and Cash Equivalents

Concentrations of Credit and Business Risk

Supplier Concentrations

Inventories

Property, Plant, and Equipment

Ranges of asset lives used for depreciation purposes are:

Buildings and improvements	7	-	40 years
Machinery and equipment	3	-	7 years
Furniture and fixtures	3	-	7 years

Goodwill and Other Intangible Assets

Goodwill

Other Intangible Assets

Long-Lived Assets Other than Intangible Assets

Income Taxes

The Company recognizes interest and/or penalties related to income tax matters in income tax expense.

Product Warranties

Research and Development

Self-Insurance

Deferred Debt Issuance Costs

Stock-Based Compensation

Advertising

Fair Value Measurements

Fair Value of Financial Instruments

Repurchase Commitments

Earnings Per Common Share

Operating Leases

Postretirement Benefits

Segment Information

New Accounting Pronouncements Issued, Adopted and Not Yet Adopted

New Accounting Pronouncements Issued But Not Yet Adopted

New Accounting Pronouncements Issued And Adopted

	Balance as of			Adjustments			Balance as of
	June 30, 2018			Due to ASC 606			July 1, 2018
Accrued expenses and other current liabilities	$	27,866		$	4,029		$	31,895
Deferred income taxes		1,427			(938	)		489
Accumulated deficit		(61,717	)		(3,091	)		(64,808	)

The following table summarizes the impact of ASU 2014-09 on the Company’s consolidated statement of operations for the year ended June 30, 2019:

					Balances without
Statement of Operations	As Reported		Effect of Change		adoption of ASC 606
Net sales	$	466,381	$	42	$	466,423
Income before income tax expense		26,746		42		26,788
Income tax expense		5,392		8		5,400
Net income		21,354		34		21,388

The following table summarizes the impact of ASU 2014-09 on the Company’s consolidated balance sheet as of June 30, 2019:

							Balances without
Balance Sheet	As Reported			Effect of Change			adoption of ASC 606
Accrued expenses and other current liabilities	$	41,421		$	(4,071	)	$	37,350
Income taxes		3,870			946			4,816
Accumulated deficit		(43,454	)		3,125			(40,329	)

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jun. 30, 2019

Cumulative Effect of Adoption

Schedule of Ranges of Asset Lives Used for Depreciation Purposes

Ranges of asset lives used for depreciation purposes are:

Buildings and improvements	7	-	40 years
Machinery and equipment	3	-	7 years
Furniture and fixtures	3	-	7 years

ASU 14-09

Cumulative Effect of Adoption

Summary of Cumulative Effect of Changes Made to Company’s Consolidated Balance Sheets and Statement of Operations

The cumulative effect of the changes made to the Company’s consolidated balance sheet as of July 1, 2018 for the adoption of the new revenue standard was as follows:

	Balance as of			Adjustments			Balance as of
	June 30, 2018			Due to ASC 606			July 1, 2018
Accrued expenses and other current liabilities	$	27,866		$	4,029		$	31,895
Deferred income taxes		1,427			(938	)		489
Accumulated deficit		(61,717	)		(3,091	)		(64,808	)

The following table summarizes the impact of ASU 2014-09 on the Company’s consolidated statement of operations for the year ended June 30, 2019:

					Balances without
Statement of Operations	As Reported		Effect of Change		adoption of ASC 606
Net sales	$	466,381	$	42	$	466,423
Income before income tax expense		26,746		42		26,788
Income tax expense		5,392		8		5,400
Net income		21,354		34		21,388

The following table summarizes the impact of ASU 2014-09 on the Company’s consolidated balance sheet as of June 30, 2019:

							Balances without
Balance Sheet	As Reported			Effect of Change			adoption of ASC 606
Accrued expenses and other current liabilities	$	41,421		$	(4,071	)	$	37,350
Income taxes		3,870			946			4,816
Accumulated deficit		(43,454	)		3,125			(40,329	)

REVENUE RECOGNITION (Tables)

12 Months Ended

Jun. 30, 2019

Revenue From Contract With Customer [Abstract]

Summary of Revenues by Major Product Categories

The following table presents the Company’s revenue by major product categories for the year ended June 30, 2019:

	MasterCraft		NauticStar		Crest		Total
Major Product Categories
Boats and trailers	$	301,010	$	77,896	$	75,742	$	454,648
Parts		9,471		85		498		10,054
Other revenue		1,349		14		316		1,679
Total	$	311,830	$	77,995	$	76,556	$	466,381

ACQUISITIONS (Tables)

12 Months Ended

Jun. 30, 2019

Schedule of Pro Forma Financial Information

The unaudited pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisitions had taken place at the beginning of fiscal years 2018 and 2017, or the results that may occur in the future:

	Fiscal Years Ended
	2019		2018		2017
Net sales	$	487,374	$	423,630	$	305,705
Net income	$	21,619	$	38,269	$	20,919
Basic earnings per common share	$	1.16	$	2.06	$	1.13
Diluted earnings per common share	$	1.15	$	2.04	$	1.12

Crest

Schedule of Purchase Price Allocation Based on Estimated Fair Values of Assets Acquired and Liabilities Assumed as of Acquisition Date

Management finalized the valuation related to the assets acquired and liabilities assumed, and the following table summarizes the purchase price allocation for the Crest acquisition:

Purchase Price:
Cash paid, net of cash acquired	$	81,729



Recognized amounts of identifiable assets acquired and (liabilities assumed), at fair value:
Accounts receivable	$	5,215
Inventories		9,853
Other current assets		179
Property, plant and equipment		1,840
Identifiable intangible assets		35,245
Current liabilities		(6,841	)
Fair value of assets acquired and liabilities assumed		45,491
Goodwill		36,238
	$	81,729

Schedule of Fair Value Estimates of Identifiable Intangible Assets Acquired

The following table summarizes the intangible assets acquired as part of the acquisition:

	Estimates of Fair Value		Estimated Useful Life (in years)
Definite-lived intangible assets:
Dealer network	$	18,000		10
Software		245		5
Indefinite-lived intangible asset:
Trade name		17,000
Total identifiable intangible assets	$	35,245

NauticStar

Schedule of Purchase Price Allocation Based on Estimated Fair Values of Assets Acquired and Liabilities Assumed as of Acquisition Date

The following table summarizes the purchase price allocation based on the estimated fair values of the assets acquired and liabilities assumed of NauticStar at the acquisition date:

Purchase Price:
Cash paid, net of cash acquired	$	80,511

Recognized amounts of identifiable assets acquired and (liabilities assumed), at fair value:
Accounts receivable	$	1,773
Inventories		6,358
Other current assets		94
Indemnification asset		166
Deferred income taxes		83
Property, plant and equipment		4,945
Identifiable intangible assets		36,000
Current liabilities		(4,858	)
Unrecognized tax positions		(249	)
Fair value of assets acquired and liabilities assumed		44,312
Goodwill		36,199
	$	80,511

Schedule of Fair Value Estimates of Identifiable Intangible Assets Acquired

The fair value estimates for the Company’s identifiable intangible assets acquired as part of the acquisition are as follows:

	Estimates of Fair Value		Estimated Useful Life (in years)
Definite-lived intangible:
Dealer network	$	20,000		10
Indefinite-lived intangible:
Trade name		16,000
Total identifiable intangible assets	$	36,000

INVENTORIES (Tables)

12 Months Ended

Jun. 30, 2019

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories at June 30, 2019 and 2018 consisted of the following:

	2019			2018
Raw materials and supplies	$	20,034		$	9,587
Work in process		4,571			2,822
Finished goods		7,207			9,026
Obsolescence reserve		(1,152	)		(968	)
Total inventories	$	30,660		$	20,467

PROPERTY, PLANT, AND EQUIPMENT (Tables)

12 Months Ended

Jun. 30, 2019

Property Plant And Equipment [Abstract]

Schedule of Property, Plant, and Equipment - Net

Property, plant, and equipment — net at June 30, 2019 and 2018, consisted of the following:

	2019			2018
Land and improvements	$	1,901		$	1,725
Buildings and improvements		15,652			11,960
Machinery and equipment		29,804			22,570
Furniture and fixtures		1,719			943
Construction in progress		4,866			3,564
Total property, plant, and equipment		53,942			40,762
Less accumulated depreciation		(20,306	)		(18,497	)
Property, plant, and equipment — net	$	33,636		$	22,265

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Jun. 30, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Changes in Carrying Amount of Goodwill

The following table summarizes changes in the carrying amount of goodwill for the fiscal years ended June 30, 2019 and 2018.

	MasterCraft		NauticStar			Crest		Total
Balance as of June 30, 2017	$	29,593	$	—		$	—	$	29,593
Goodwill acquired		—		36,199			—		36,199
Balance as of June 30, 2018		29,593		36,199			—		65,792
Goodwill acquired		—		—			36,238		36,238
Impairment charges		—		(28,000	)		—		(28,000	)
Balance as of June 30, 2019	$	29,593	$	8,199		$	36,238	$	74,030

Schedule of Carrying Amount of Other Intangible Assets, Net

The following table presents changes in the carrying amount of other intangible assets, net.

	MasterCraft			NauticStar			Crest			Total
Balance as of June 30, 2017	$	16,643		$	—		$	—		$	16,643
Amortization		(107	)		(1,490	)		—			(1,597	)
Intangible assets acquired		—			36,000			—			36,000
Balance as of June 30, 2018	$	16,536		$	34,510		$	—		$	51,046
Amortization		(107	)		(1,998	)		(1,387	)		(3,492	)
Intangible assets acquired		—			—			35,245			35,245
Impairment charges		—			(3,000	)		—			(3,000	)
Total other intangible assets	$	16,429		$	29,512		$	33,858		$	79,799

Schedule of Cost and Accumulated Amortization of Other Intangible Assets

The following table presents the cost and accumulated amortization of our other intangible assets as of June 30, 2019 and 2018.

			June 30, 2019
	Estimated		Gross
	Useful		Carrying		Accumulated						Net Carrying
	Life in Years		Amount		Amortization			Impairment			Value
Dealer network	10 -14		$	39,500	$	(5,909	)	$	—		$	33,591
Software		5		245		(37	)		—			208
Trade names	Indefinite			49,000		—			(3,000	)		46,000
Total identified other intangible assets			$	88,745	$	(5,946	)	$	(3,000	)	$	79,799

		June 30, 2018
	Estimated	Gross
	Useful	Carrying		Accumulated					Net Carrying
	Life in Years	Amount		Amortization			Impairment		Value
Dealer network	10 -14	$	21,500	$	(2,454	)	$	—	$	19,046
Trade names	Indefinite		32,000		—			—		32,000
Total identified other intangible assets		$	53,500	$	(2,454	)	$	—	$	51,046

Schedule of Estimated Amortization Expense

Estimated amortization expense for the five years subsequent to June 30, 2019, is presented in the following table:

Fiscal years ending June 30,
2020	$	3,956
2021		3,956
2022		3,956
2023		3,956
2024		3,815
and thereafter		14,160
Total	$	33,799

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Jun. 30, 2019

Accrued Liabilities And Other Liabilities [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities at June 30, 2019 and 2018, consisted of the following:

	2019		2018
Warranty	$	17,205	$	13,077
Dealer incentives		12,623		4,628
Compensation and related accruals		3,494		2,997
Floor plan interest		2,060		1,228
Inventory repurchase contingent obligation		1,936		1,265
Self-insurance		606		703
Debt interest		405		244
Other		3,092		3,724
Total accrued expenses and other current liabilities	$	41,421	$	27,866

Summary of Activity in Accrued Warranty Liability

The following table summarizes the activity in the accrued warranty liability for the years ended June 30, 2019 and 2018:

	2019			2018
Beginning balance	$	13,077		$	12,237
Additions for business acquisitions		990			945
Provisions		8,056			6,523
Payments made		(7,198	)		(4,427	)
Adjustments to preexisting warranties		2,280			(2,201	)
Ending balance	$	17,205		$	13,077

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Assets Measured at Fair Value on Recurring Basis

The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2019 and 2018:

2019 Fair Measurements at the End of the Reporting Period Using

Quoted Prices in Active Markets for Identical Assets

(Level 1)

Significant Other Observable Inputs

(Level 2)

Significant Unobservable Inputs

(Level 3)

Asset — interest rate cap

—

2018 Fair Measurements at the End of the Reporting Period Using

Quoted Prices in Active Markets for Identical Assets

(Level 1)

Significant Other Observable Inputs

(Level 2)

Significant Unobservable Inputs

(Level 3)

Asset — interest rate cap

—

525

—

LONG-TERM DEBT (Tables)

12 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Outstanding

Long-term debt outstanding at June 30, 2019 and 2018 was as follows:

	2019			2018
Revolving credit facility	$	—		$	—
Senior secured term loans		115,349			76,656
Deferred debt issuance costs on term loans		(1,608	)		(1,500	)
Total debt		113,741			75,156
Less current portion of long-term debt		9,167			5,475
Less current portion of deferred debt issuance costs on term loans		(442	)		(406	)
Long-term debt — less current portion	$	105,016		$	70,087

Schedule of Maturities of Long-Term Debt

Maturities for the Term Loans subsequent to June 30, 2019 are as follows:

Fiscal years ending June 30,
2020	$	9,167
2021		9,167
2022		11,459
2023		12,222
2024		73,334
Total	$	115,349

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Components of Provision for Income Taxes

For the years ended June 30, the components of the provision for income taxes are as follows:

	For the Years Ended June 30,
	2019			2018				2017
Current income tax expense:
Federal	$	10,405			$	12,140			$	5,803
State		1,892				276				1,584
Benefit of operating loss carryforwards		(171	)			(117	)			(118	)
Total current tax expense		12,126				12,299				7,269
Deferred tax (benefit) expense:
Federal		(5,837	)			525				4,154
State		(897	)			32				300
Total deferred tax (benefit) expense		(6,734	)			557				4,454
Income tax expense	$	5,392			$	12,856			$	11,723

Schedule of Difference Between Statutory and Effective Federal Tax Rate

The difference between the statutory and the effective federal tax rate for the periods below is attributable to the following:

	For the Years Ended June, 30
	2019				2018				2017
Statutory income tax rate		21.00		%		28.06		%		35.00		%
State taxes (net of federal income tax benefit and valuation allowance)		2.48				2.32				2.83
Change in valuation allowance		(0.57	)			—				—
Tax credits		(3.39	)			(0.44	)			(0.62	)
Revalue of deferred taxes for change in federal tax rate		—				(1.23	)			—
Uncertain tax positions		3.10				(1.73	)			1.93
Permanent differences		(2.54	)			(2.41	)			(1.72	)
Other		0.08				(0.09	)			0.04
Effective income tax rate		20.16		%		24.48		%		37.46		%

Summary of Significant Components of Company’s Deferred Tax Assets and Liabilities

As of June 30, 2019 and 2018, a summary of the significant components of the Company’s deferred tax assets and liabilities was as follows:

	2019			2018
Deferred tax assets:
Warranty reserves	$	3,848		$	2,898
Intangible asset basis difference		2,306			—
Repurchase agreements		427			247
Accrued selling		1,354			—
Unrecognized tax benefits		520			357
Stock Compensation		704			467
State net operating loss		144			130
Foreign net operating loss		79			81
Valuation allowance		(81	)		(211	)
Credits		48			—
Total deferred tax assets		9,349			3,969
Deferred tax liabilities:
Depreciation		(3,037	)		(1,262	)
Intangible asset basis difference		—			(4,009	)
Other		(72	)		(125	)
Total deferred tax liabilities		(3,109	)		(5,396	)
Net deferred tax assets (liabilities)	$	6,240		$	(1,427	)

Schedule of Net Deferred Tax Assets and Liabilities as Classified in Consolidated Balance Sheets

	2019		2018
Noncurrent deferred tax assets (liabilities)		6,240		(1,427	)
Net deferred tax assets (liabilities)	$	6,240	$	(1,427	)

Schedule of Reconciliation of Unrecognized Tax Benefits Excluding Accrued Amounts for Interest and Penalties

A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding accrued amounts for interest and penalties, is as follows:

	2019			2018
Balance at July 1	$	1,711		$	2,442
Additions based on tax positions related to the current year		889			373
Additions for tax positions of prior years		473			180
Reductions for tax positions of prior years		(25	)		(61	)
Settlements of tax positions from prior years		(544	)		(1,223	)
Balance at June 30	$	2,504		$	1,711

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Jun. 30, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Restricted Stock Awards Activity

A summary of RSA activity for the years ended June 30, 2019, 2018 and 2017, is as follows:

	Number of Restricted Stock Awards Outstanding			Weighted Average Grant Date Fair Value
Total Non-vested Restricted Stock Awards at June 30, 2016		—		$	—
Granted		47,131			12.22
Vested		(18,740	)		18.94
Forfeited		(1,974	)		19.55
Total Non-vested Restricted Stock Awards at June 30, 2017		26,417			12.22
Granted		47,651			19.88
Vested		(25,870	)		16.79
Forfeited		(4,888	)		15.89
Total Non-vested Restricted Stock Awards at June 30, 2018		43,310			17.28
Granted		51,995			26.79
Vested		(33,093	)		21.54
Forfeited		(8,408	)		23.08
Total Non-vested Restricted Stock Awards at June 30, 2019		53,804			22.94

Summary of Performance Stock Units Activity

A summary of PSU activity for the years ending June 30, 2019, 2018 and 2017, is as follows:

	Number of Performance Stock Units Outstanding			Weighted Average Grant Date Fair Value
Total Non-vested Performance Stock Units at June 30, 2016		—		$	—
Granted		42,586			11.85
Vested		—			—
Forfeited		(1,974	)		11.85
Total Non-vested Performance Stock Units at June 30, 2017		40,612			11.85
Granted		26,416			19.62
Vested		—			—
Forfeited		(7,700	)		14.42
Total Non-vested Performance Stock Units at June 30, 2018		59,328			14.98
Granted		35,122			25.70
Vested		(32,373	)		11.85
Forfeited		(11,456	)		19.73
Total Non-vested Performance Stock Units at June 30, 2019		50,621			23.34

Summary of Nonqualified Stock Options Activity

A summary of NSO activity for the years ending June 30, 2019, 2018, and 2017 is as follows:

						Weighted
				Weighted		Average
				Average		Remaining		Aggregate
				Exercise		Contractual		Intrinsic
	Shares			Price		Term (Yrs.)		Value
Outstanding at June 30, 2016		122,640		$	10.70		9.1	$	43
Granted		—			-	—			-
Exercised		(1,578	)		10.70		—		-
Forfeited or expired		(4,734	)		10.70		—		-
Outstanding at June 30, 2017		116,328			10.70		8.1		1,030
Granted		—			-	—			-
Exercised		(10,905	)		10.70		—		-
Forfeited or expired		(12,298	)		10.70		—		-
Outstanding at June 30, 2018		93,125			10.70		7.1		1,700
Granted		—			-	—			-
Exercised		(10,563	)		10.70		—		-
Forfeited or expired		(1,703	)		10.70		—		-
Outstanding at June 30, 2019		80,859			10.70		6.1		719

Fully vested and exercisable at June 30, 2019		56,556			10.70		6.1		503

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Jun. 30, 2019

Commitments And Contingencies Disclosure [Abstract]

Future Minimum Rental Payments Under All Non-cancelable Operating Leases

Future minimum rental payments under all non-cancelable operating leases with remaining lease terms in excess of one year at June 30, 2019, are as follows:

Fiscal years ending June 30,
2020	$	703
2021		690
2022		628
2023		402
2024		402
and thereafter		1,806
Total	$	4,631

EARNINGS PER SHARE (Tables)

12 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Factors Used in Earnings Per Share Computation

The factors used in the earnings per share computation are as follows:

	2019		2018		2017
Net income	$	21,354	$	39,653	$	19,570
Weighted average common shares — basic		18,653,892		18,619,793		18,592,885
Dilutive effect of assumed exercises of stock options		45,799		38,835		4,488
Dilutive effect of assumed restricted share awards/units		68,516		55,904		23,335
Weighted average outstanding shares — diluted		18,768,207		18,714,531		18,620,708
Basic earnings per share	$	1.14	$	2.13	$	1.05
Diluted earnings per share	$	1.14	$	2.12	$	1.05

SEGMENT INFORMATION (Tables)

12 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Schedule of Operating Information for Reportable Segments

The following tables present selected financial information for the Company’s reportable segments for the years ended June 30, 2019, and 2018.

	Year Ended June 30, 2019
	MasterCraft		NauticStar			Crest		Consolidated
Net sales	$	311,830	$	77,995		$	76,556	$	466,381
Operating income		53,989		(27,785	)		7,055		33,259
Depreciation and amortization		3,481		2,684			1,622		7,787
Goodwill and other intangible asset impairment		—		31,000			—		31,000
Purchases of property and equipment		11,730		2,069			265		14,064

	Year Ended June 30, 2018
	MasterCraft		NauticStar		Crest		Consolidated
Net sales	$	266,319	$	66,406	$	—	$	332,725
Operating income		49,363		6,620		—		55,983
Depreciation and amortization		3,283		1,803		—		5,086
Purchases of property and equipment		4,234		1,071		—		5,305

	As of June 30, 2019			As of June 30, 2018
Assets
MasterCraft	$	273,046		$	170,218
NauticStar		52,761			87,866
Crest		85,979			—
Eliminations		(163,013	)		(81,160	)
Total Assets	$	248,773		$	176,924

QUARTERLY FINANCIAL REPORTING (UNAUDITED) (Tables)

12 Months Ended

Jun. 30, 2019

Quarterly Financial Information Disclosure [Abstract]

Summary of Quarterly Financial Information

The following tables set forth summary quarterly financial information for the years ended June 30, 2019 and 2018. Due to effects of rounding, the quarterly results presented may not sum to the fiscal year results presented.

	Quarter Ended									Fiscal Year Ended
	June 30, 2019			March 31, 2019		December 30, 2018		September 30, 2018		June 30, 2019
Net sales	$	122,809		$	128,390	$	121,541	$	93,641	$	466,381
Gross profit		31,493			31,357		27,074		23,203		113,127
Operating income (loss)		(11,538	)		18,464		14,722		11,611		33,259
Net income (loss)	$	(10,062	)	$	12,763	$	10,188	$	8,465	$	21,354
Basic earnings per common share (loss)	$	(0.54	)	$	0.68	$	0.55	$	0.45	$	1.14
Diluted earnings per common share (loss)	$	(0.54	)	$	0.68	$	0.54	$	0.45	$	1.14
Weighted average shares used for computation of:
Basic earnings (loss) per common share		18,658,701			18,657,719		18,653,111		18,646,039		18,653,892
Diluted earnings (loss) per common share		18,658,701			18,756,605		18,772,322		18,768,764		18,768,207

	Quarter Ended								Fiscal Year Ended
	June 30, 2018		April 1, 2018		December 31, 2017		October 1, 2017		June 30, 2018
Net sales	$	95,430	$	93,811	$	78,435	$	65,049	$	332,725
Gross profit		27,885		24,382		19,934		18,163		90,364
Operating income		18,938		15,199		10,782		11,064		55,983
Net income	$	13,144	$	11,454	$	8,009	$	7,046	$	39,653
Basic earnings per common share	$	0.71	$	0.62	$	0.43	$	0.38	$	2.13
Diluted earnings per common share	$	0.70	$	0.61	$	0.43	$	0.38	$	2.12
Weighted average shares used for computation of:
Basic earnings per common share		18,619,834		18,622,083		18,619,834		18,615,100		18,619,793
Diluted earnings per common share		18,702,352		18,728,424		18,702,352		18,686,626		18,714,531

ORGANIZATION AND NATURE OF BUSINESS - Additional Information (Details)	12 Months Ended
	Jun. 30, 2019 segment
Organization And Nature Of Business [Abstract]
Number of reportable segments	3

SIGNIFICANT ACCOUNTING POLICIES - Principles of Consolidation - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Condensed Financial Statements, Captions
Total assets	$ (248,773)	$ (176,924)
Eliminations
Condensed Financial Statements, Captions
Total assets	$ 163,013	$ 81,160

SIGNIFICANT ACCOUNTING POLICIES - Immaterial Correction of Error - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 30, 2018	Sep. 30, 2018	Jun. 30, 2018	Apr. 01, 2018	Dec. 31, 2017	Oct. 01, 2017	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Immaterial correction of error
Net income	$ (10,062)	$ 12,763	$ 10,188	$ 8,465	$ 13,144	$ 11,454	$ 8,009	$ 7,046	$ 21,354	$ 39,653	$ 19,570
Increase (decrease) in accrued expenses and other current liabilities									6,609	4,720	(866)
Revenue	$ 122,809	$ 128,390	$ 121,541	$ 93,641	$ 95,430	$ 93,811	$ 78,435	$ 65,049	$ 466,381	332,725	$ 228,634
Product warranty term			5 years
Error Correction for Net Income \| Revision of Warranty Claims Projection
Immaterial correction of error
Net income										1,033
Error Correction For Accrued Expenses and Other Current Liabilities \| Revision of Warranty Claims Projection
Immaterial correction of error
Increase (decrease) in accrued expenses and other current liabilities										$ (1,033)
Correction of Error in Accrued Warranty Calculation, Net
Immaterial correction of error
Increase (decrease) in accrued expenses and other current liabilities			$ 225
Revenue			(225)
Correction of Error in Accrued Warranty Calculation, Inaccurate Data on Cost of Parts
Immaterial correction of error
Increase (decrease) in accrued expenses and other current liabilities			(1,125)
Revenue			1,125
Correction of Error in Accrued Warranty Calculation, Assumptions Used In Change in Warranty Period
Immaterial correction of error
Increase (decrease) in accrued expenses and other current liabilities			1,350
Revenue			$ (1,350)

SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition and Shipping and Handling Costs - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Revenue Recognition
Dealer rebates and sales promotion incentives	$ 11,598	$ 6,361	$ 5,660
Retail rebates	4,220	1,932	5,484
Floor plan reimbursement costs	$ 7,452	$ 5,143	$ 3,705
Maximum
Revenue Recognition
Term of reimbursement program	9 months

SIGNIFICANT ACCOUNTING POLICIES - Cash and Cash Equivalents - Additional Information (Details) - USD ($)	Jun. 30, 2019	Jun. 30, 2018
Cash and cash equivalents
Cash equivalents	$ 0	$ 0

SIGNIFICANT ACCOUNTING POLICIES - Concentrations of Credit and Business Risk - Additional Information (Details) - Supplier Concentration Risk - Cost of Goods - Engine Supplier $ in Thousands	12 Months Ended
	Jun. 30, 2019 USD ($) item	Jun. 30, 2018 USD ($) item	Jun. 30, 2017 USD ($) item
MasterCraft
Concentrations of Credit and Business Risk
Number of vendors \| item	1	1	1
Purchases during period \| $	$ 39,252	$ 34,734	$ 31,075
NauticStar
Concentrations of Credit and Business Risk
Number of vendors \| item	1	1
Purchases during period \| $	$ 23,718	$ 19,668
Crest
Concentrations of Credit and Business Risk
Number of vendors \| item	1
Purchases during period \| $	$ 20,382

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Ranges of Asset Lives Used for Depreciation Purposes (Details)	12 Months Ended
	Jun. 30, 2019
Buildings and improvements \| Minimum
Property, plant, and equipment
Asset lives	7 years
Buildings and improvements \| Maximum
Property, plant, and equipment
Asset lives	40 years
Machinery and equipment \| Minimum
Property, plant, and equipment
Asset lives	3 years
Machinery and equipment \| Maximum
Property, plant, and equipment
Asset lives	7 years
Furniture and fixtures \| Minimum
Property, plant, and equipment
Asset lives	3 years
Furniture and fixtures \| Maximum
Property, plant, and equipment
Asset lives	7 years

SIGNIFICANT ACCOUNTING POLICIES - Goodwill and Other Intangible Assets - Additional Information (Details)	3 Months Ended		12 Months Ended
	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) Unit	Jun. 30, 2018 USD ($)	Jun. 30, 2017 USD ($)
Goodwill and Other Intangible Assets
Number of reporting units \| Unit			3
Impairment of goodwill	$ 0	$ 0	$ 28,000,000	$ 0	$ 0
Impairment of other indefinite-lived intangible assets			3,000,000	$ 0	$ 0
Trade names
Goodwill and Other Intangible Assets
Impairment of other indefinite-lived intangible assets			$ 3,000,000
Dealer network
Goodwill and Other Intangible Assets
Expected useful lives of intangible assets			10 years
NauticStar
Goodwill and Other Intangible Assets
Impairment of goodwill			$ 28,000,000
NauticStar \| Trade names
Goodwill and Other Intangible Assets
Impairment of other indefinite-lived intangible assets			$ 3,000,000

SIGNIFICANT ACCOUNTING POLICIES - Warranties, Research and Development, Deferred Debt Issuance Costs, and Other - Additional Information (Details)	3 Months Ended	12 Months Ended
	Dec. 30, 2018	Jun. 30, 2019 USD ($) segment	Jun. 30, 2018 USD ($)	Jun. 30, 2017 USD ($)
Product Warranties
Product warranty term	5 years
Research and Development
Research and development expenditures		$ 5,566,000	$ 4,933,000	$ 3,550,000
Deferred Debt Issuance Costs
Deferred financing costs incurred		729,000	1,240,000	0
Amortization of deferred financing costs		553,000	496,000	361,000
Advertising
Advertising costs		$ 9,347,000	6,787,000	5,201,000
Repurchase Commitments
Maximum term of repurchase commitments		30 months
Postretirement Benefits
Defined contribution plan expense		$ 1,208,000	$ 826,000	$ 640,000
Segment Information
Number of reportable segments \| segment		3
Minimum
Product Warranties
Product warranty term		1 year
Maximum
Product Warranties
Product warranty term		5 years

SIGNIFICANT ACCOUNTING POLICIES - Estimated Effects of ASU 2016-02 - Additional Information (Details) - ASU 2016-02 - Subsequent Event $ in Thousands	Jul. 01, 2019 USD ($)
Item Effected [Line Items]
Right-of-use assets	$ 4,000
Lease obligations	$ 4,000

SIGNIFICANT ACCOUNTING POLICIES - Summary of Cumulative Effect of Changes Made to Company's Consolidated Balance Sheets and Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 30, 2018	Sep. 30, 2018	Jun. 30, 2018	Apr. 01, 2018	Dec. 31, 2017	Oct. 01, 2017	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017	Jul. 01, 2018
Cumulative effect of the changes
Accrued expenses and other current liabilities	$ 41,421				$ 27,866				$ 41,421	$ 27,866		$ 31,895
Deferred income taxes					1,427					1,427		489
Accumulated deficit	(43,454)				(61,717)				(43,454)	(61,717)		(64,808)
Statement of Operations
Net sales	122,809	$ 128,390	$ 121,541	$ 93,641	95,430	$ 93,811	$ 78,435	$ 65,049	466,381	332,725	$ 228,634
Income before income tax expense									26,746	52,509	31,293
Income tax expense									5,392	12,856	11,723
Net income	(10,062)	$ 12,763	$ 10,188	$ 8,465	13,144	$ 11,454	$ 8,009	$ 7,046	21,354	39,653	$ 19,570
Balance Sheet
Accrued expenses and other current liabilities	41,421				27,866				41,421	27,866		31,895
Income taxes	3,870								3,870
Accumulated deficit	(43,454)				$ (61,717)				(43,454)	$ (61,717)		(64,808)
Adjustments Due to ASC 606
Cumulative effect of the changes
Accrued expenses and other current liabilities	(4,071)								(4,071)			4,029
Deferred income taxes												(938)
Accumulated deficit	3,125								3,125			(3,091)
Statement of Operations
Net sales									42
Income before income tax expense									42
Income tax expense									8
Net income									34
Balance Sheet
Accrued expenses and other current liabilities	(4,071)								(4,071)			4,029
Income taxes	946								946
Accumulated deficit	3,125								3,125			$ (3,091)
Balances without adoption of ASC 606
Cumulative effect of the changes
Accrued expenses and other current liabilities	37,350								37,350
Accumulated deficit	(40,329)								(40,329)
Statement of Operations
Net sales									466,423
Income before income tax expense									26,788
Income tax expense									5,400
Net income									21,388
Balance Sheet
Accrued expenses and other current liabilities	37,350								37,350
Income taxes	4,816								4,816
Accumulated deficit	$ (40,329)								$ (40,329)

REVENUE RECOGNITION - Summary of Revenues by Major Product Categories (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 30, 2018	Sep. 30, 2018	Jun. 30, 2018	Apr. 01, 2018	Dec. 31, 2017	Oct. 01, 2017	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Revenue by Categories
Revenue	$ 122,809	$ 128,390	$ 121,541	$ 93,641	$ 95,430	$ 93,811	$ 78,435	$ 65,049	$ 466,381	$ 332,725	$ 228,634
Boats and trailers
Revenue by Categories
Revenue									454,648
Parts
Revenue by Categories
Revenue									10,054
Other
Revenue by Categories
Revenue									1,679
MasterCraft
Revenue by Categories
Revenue									311,830	266,319
MasterCraft \| Boats and trailers
Revenue by Categories
Revenue									301,010
MasterCraft \| Parts
Revenue by Categories
Revenue									9,471
MasterCraft \| Other
Revenue by Categories
Revenue									1,349
NauticStar
Revenue by Categories
Revenue									77,995	$ 66,406
NauticStar \| Boats and trailers
Revenue by Categories
Revenue									77,896
NauticStar \| Parts
Revenue by Categories
Revenue									85
NauticStar \| Other
Revenue by Categories
Revenue									14
Crest
Revenue by Categories
Revenue									76,556
Crest \| Boats and trailers
Revenue by Categories
Revenue									75,742
Crest \| Parts
Revenue by Categories
Revenue									498
Crest \| Other
Revenue by Categories
Revenue									$ 316

REVENUE RECOGNITION - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Contract liabilities
Customer contract liabilities		$ 2,194
Contract liabilities with customer, revenue recognized during the period	$ 2,194
Accrued Expenses and Other Current Liabilities
Contract liabilities
Customer contract liabilities	$ 759

ACQUISITIONS - Additional Information (Details) $ in Thousands			9 Months Ended	12 Months Ended
	Oct. 01, 2018 USD ($) item	Oct. 02, 2017 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2017 USD ($)
Acquisition
Number of boat brands \| item	3
Purchase Price:
Cash paid, net of cash acquired				$ 81,729	$ 80,511
Goodwill			$ 74,030	74,030	65,792	$ 29,593
Crest
Acquisition
Net sales			76,556
Operating income			$ 7,055
Purchase Price:
Cash paid, net of cash acquired	$ 81,729
Weighted average useful life	9 years 10 months 24 days
Goodwill	$ 36,238
Crest \| General and Administrative Expense
Identifiable intangible assets
Acquisition related costs				$ 1,510
NauticStar
Purchase Price:
Cash paid, net of cash acquired		$ 80,511
Weighted average useful life		10 years
Goodwill		$ 36,199
NauticStar \| General and Administrative Expense
Identifiable intangible assets
Acquisition related costs					$ 1,486

ACQUISITIONS - Schedule of Purchase Price Allocation Based on Estimated Fair Values of Assets Acquired and Liabilities Assumed as of Acquisition Date (Details) - USD ($) $ in Thousands			12 Months Ended
	Oct. 01, 2018	Oct. 02, 2017	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Purchase Price:
Cash paid, net of cash acquired			$ 81,729	$ 80,511
Recognized preliminary amounts of identifiable assets acquired and (liabilities assumed), at fair value:
Goodwill			$ 74,030	$ 65,792	$ 29,593
Crest
Purchase Price:
Cash paid, net of cash acquired	$ 81,729
Recognized preliminary amounts of identifiable assets acquired and (liabilities assumed), at fair value:
Accounts receivable	5,215
Inventories	9,853
Other current assets	179
Property, plant and equipment	1,840
Identifiable intangible assets	35,245
Current liabilities	(6,841)
Fair value of assets acquired and liabilities assumed	45,491
Goodwill	36,238
Total purchase price allocation	$ 81,729
NauticStar
Purchase Price:
Cash paid, net of cash acquired		$ 80,511
Recognized preliminary amounts of identifiable assets acquired and (liabilities assumed), at fair value:
Accounts receivable		1,773
Inventories		6,358
Other current assets		94
Indemnification asset		166
Deferred income taxes		83
Property, plant and equipment		4,945
Identifiable intangible assets		36,000
Current liabilities		(4,858)
Unrecognized tax positions		(249)
Fair value of assets acquired and liabilities assumed		44,312
Goodwill		36,199
Total purchase price allocation		$ 80,511

ACQUISITIONS - Schedule of Fair Value Estimates of Identifiable Intangible Assets Acquired (Details) - USD ($) $ in Thousands			12 Months Ended
	Oct. 01, 2018	Oct. 02, 2017	Jun. 30, 2019
Dealer network
Identifiable intangible assets
Estimated useful life			10 years
Software
Identifiable intangible assets
Estimated useful life			5 years
Crest
Identifiable intangible assets
Total identifiable intangible assets	$ 35,245
Crest \| Trade names
Identifiable intangible assets
Indefinite-lived intangible	17,000
Crest \| Dealer network
Identifiable intangible assets
Definite-lived intangible	$ 18,000
Estimated useful life	10 years
Crest \| Software
Identifiable intangible assets
Definite-lived intangible	$ 245
Estimated useful life	5 years
NauticStar
Identifiable intangible assets
Total identifiable intangible assets		$ 36,000
NauticStar \| Trade names
Identifiable intangible assets
Indefinite-lived intangible		16,000
NauticStar \| Dealer network
Identifiable intangible assets
Definite-lived intangible		$ 20,000
Estimated useful life		10 years

ACQUISITIONS - Crest Related Party Transactions - Additional Information (Details) - Crest $ in Thousands		12 Months Ended
	Oct. 01, 2018 USD ($) item	Jun. 30, 2019 USD ($)
Lease Agreement
Lease term	10 years
Lease expiration date	Sep. 30, 2028
Number of consecutive lease extensions available \| item	4
Term of extension	5 years
Annual rent, first five years	$ 330
Annual rent, remaining five years	$ 425
Period of time, during option periods, after which rent will be adjusted	5 years
Rent expense		$ 248
Parts Supplier
Lease Agreement
Product purchases		2,830
Outstanding balance due		$ 146

ACQUISITIONS - Schedule of Pro Forma Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Pro Forma financial information
Net sales	$ 487,374	$ 423,630	$ 305,705
Net income	$ 21,619	$ 38,269	$ 20,919
Basic earnings per common share	$ 1.16	$ 2.06	$ 1.13
Diluted earnings per common share	$ 1.15	$ 2.04	$ 1.12

INVENTORIES - Schedule of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 20,034	$ 9,587
Work in process	4,571	2,822
Finished goods	7,207	9,026
Obsolescence reserve	(1,152)	(968)
Total inventories	$ 30,660	$ 20,467

PROPERTY, PLANT, AND EQUIPMENT - Schedule of Property, Plant, and Equipment - Net (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Property, plant and equipment - net
Total property, plant, and equipment	$ 53,942	$ 40,762
Less accumulated depreciation	(20,306)	(18,497)
Property, plant, and equipment — net	33,636	22,265
Land and improvements
Property, plant and equipment - net
Total property, plant, and equipment	1,901	1,725
Buildings and improvements
Property, plant and equipment - net
Total property, plant, and equipment	15,652	11,960
Machinery and equipment
Property, plant and equipment - net
Total property, plant, and equipment	29,804	22,570
Furniture and fixtures
Property, plant and equipment - net
Total property, plant, and equipment	1,719	943
Construction in progress
Property, plant and equipment - net
Total property, plant, and equipment	$ 4,866	$ 3,564

PROPERTY, PLANT, AND EQUIPMENT - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Property Plant And Equipment [Abstract]
Depreciation	$ 4,295	$ 3,489	$ 3,124

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Changes in Carrying Amount of Goodwill (Details) - USD ($)	3 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Goodwill [Line Items]
Goodwill, beginning balance			$ 65,792,000	$ 29,593,000
Goodwill acquired			36,238,000	36,199,000
Impairment charges	$ 0	$ 0	(28,000,000)	0	$ 0
Goodwill, ending balance	74,030,000	65,792,000	74,030,000	65,792,000	29,593,000
MasterCraft
Goodwill [Line Items]
Goodwill, beginning balance			29,593,000	29,593,000
Impairment charges			0
Goodwill, ending balance	29,593,000	29,593,000	29,593,000	29,593,000	$ 29,593,000
NauticStar
Goodwill [Line Items]
Goodwill, beginning balance			36,199,000
Goodwill acquired				36,199,000
Impairment charges			(28,000,000)
Goodwill, ending balance	8,199,000	$ 36,199,000	8,199,000	$ 36,199,000
Crest
Goodwill [Line Items]
Goodwill acquired			36,238,000
Impairment charges			0
Goodwill, ending balance	$ 36,238,000		$ 36,238,000

GOODWILL AND OTHER INTANGIBLE ASSETS - Goodwill - Additional Information (Details) - USD ($)	3 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Goodwill [Line Items]
Goodwill impairment charge	$ 0	$ 0	$ 28,000,000	$ 0	$ 0
Goodwill	74,030,000	65,792,000	74,030,000	65,792,000	29,593,000
Impairment of goodwill	0	0	28,000,000	0	0
NauticStar
Goodwill [Line Items]
Goodwill impairment charge			28,000,000
Goodwill	8,199,000	36,199,000	8,199,000	36,199,000
Impairment of goodwill			28,000,000
MasterCraft
Goodwill [Line Items]
Goodwill impairment charge			0
Goodwill	29,593,000	$ 29,593,000	29,593,000	$ 29,593,000	$ 29,593,000
Impairment of goodwill			0
Crest
Goodwill [Line Items]
Goodwill impairment charge			0
Goodwill	$ 36,238,000		36,238,000
Impairment of goodwill			$ 0

GOODWILL AND OTHER INTANGIBLE ASSETS - Other Intangible Assets - Additional Information (Details) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Impairment of other indefinite-lived intangible assets	$ 3,000,000	$ 0	$ 0
Amortization of intangible assets	3,492,000	1,597,000	$ 107,000
Trade names
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Impairment of other indefinite-lived intangible assets	3,000,000
Crest
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Assets acquired	$ 35,245,000
Weighted average useful life	10 years
Other intangible asset impairment loss	$ 0
NauticStar
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Assets acquired		$ 36,000,000
NauticStar \| Trade names
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Impairment of other indefinite-lived intangible assets	3,000,000
MasterCraft
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Other intangible asset impairment loss	$ 0

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Carrying Amount of Other Intangible Assets, Net (Details) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Goodwill, beginning balance	$ 51,046,000
Amortization	(3,492,000)	$ (1,597,000)	$ (107,000)
Impairment charges	(3,000,000)	0	0
Goodwill, ending balance	79,799,000	51,046,000
NauticStar
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Assets acquired		36,000,000
Crest
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Assets acquired	35,245,000
Other Intangible Assets
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Goodwill, beginning balance	51,046,000	16,643,000
Amortization	(3,492,000)	(1,597,000)
Assets acquired	35,245,000	36,000,000
Impairment charges	(3,000,000)
Goodwill, ending balance	79,799,000	51,046,000	16,643,000
Other Intangible Assets \| MasterCraft
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Goodwill, beginning balance	16,536,000	16,643,000
Amortization	(107,000)	(107,000)
Goodwill, ending balance	16,429,000	16,536,000	$ 16,643,000
Other Intangible Assets \| NauticStar
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Goodwill, beginning balance	34,510,000
Amortization	(1,998,000)	(1,490,000)
Assets acquired		36,000,000
Impairment charges	(3,000,000)
Goodwill, ending balance	29,512,000	$ 34,510,000
Other Intangible Assets \| Crest
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Amortization	(1,387,000)
Assets acquired	35,245,000
Goodwill, ending balance	$ 33,858,000

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Cost and Accumulated Amortization of Other Intangible Assets (Details) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Total	$ 33,799,000
Impairment charges	(3,000,000)	$ 0	$ 0
Gross Carrying Amount	88,745,000	53,500,000
Accumulated Amortization	(5,946,000)	(2,454,000)
Net Carrying Amount	$ 79,799,000	$ 51,046,000
Trade names
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Estimated Useful Life in Years	Indefinite	Indefinite
Gross Carrying Amount	$ 49,000,000	$ 32,000,000
Impairment charges	(3,000,000)
Net Carrying Amount	$ 46,000,000	32,000,000
Dealer network
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Expected useful lives of intangible assets	10 years
Gross Carrying Amount	$ 39,500,000	21,500,000
Accumulated Amortization	(5,909,000)	(2,454,000)
Total	$ 33,591,000	$ 19,046,000
Dealer network \| Minimum
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Expected useful lives of intangible assets	10 years	10 years
Dealer network \| Maximum
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Expected useful lives of intangible assets	14 years	14 years
Software
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Expected useful lives of intangible assets	5 years
Gross Carrying Amount	$ 245,000
Accumulated Amortization	(37,000)
Total	$ 208,000

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Estimated Amortization Expense (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Estimated amortization expense
2020	$ 3,956
2021	3,956
2022	3,956
2023	3,956
2024	3,815
and thereafter	14,160
Total	$ 33,799

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jul. 01, 2018	Jun. 30, 2018
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Warranty	$ 17,205		$ 13,077
Dealer incentives	12,623		4,628
Compensation and related accruals	3,494		2,997
Floor plan interest	2,060		1,228
Inventory repurchase contingent obligation	1,936		1,265
Self-insurance	606		703
Debt interest	405		244
Other	3,092		3,724
Total accrued expenses and other current liabilities	$ 41,421	$ 31,895	$ 27,866

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Summary of Activity in Accrued Warranty Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Roll forward of the accrued warranty liability
Beginning balance	$ 13,077	$ 12,237
Additions for business acquisitions	990	945
Provisions	8,056	6,523
Payments made	(7,198)	(4,427)
Adjustments to preexisting warranties	2,280	(2,201)
Ending balance	$ 17,205	$ 13,077

FAIR VALUE MEASUREMENTS - Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Level 2 \| Interest rate cap \| Recurring
Assets and liabilities measured at fair value
Asset	$ 50	$ 525

FAIR VALUE MEASUREMENTS - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018	Nov. 26, 2017	Jun. 30, 2017
Assets and liabilities measured at fair value
Goodwill	$ 74,030	$ 65,792		$ 29,593
NauticStar
Assets and liabilities measured at fair value
Goodwill	8,199	$ 36,199
Recurring
Assets and liabilities measured at fair value
Transfers of assets between Level 1 and Level 2	0
Transfers of liabilities between Level 1 and Level 2	0
Nonrecurring \| NauticStar \| Level 3
Assets and liabilities measured at fair value
Goodwill	8,199
Trade names	13,000
Interest rate cap
Assets and liabilities measured at fair value
Notional amount	$ 32,813
Interest rate cap \| LIBOR
Assets and liabilities measured at fair value
Interest rate cap			2.00%

LONG-TERM DEBT - Schedule of Long-Term Debt Outstanding (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Long-term debt
Total debt	$ 113,741	$ 75,156
Less current portion of long-term debt	9,167	5,475
Long-term debt — less current portion	105,016	70,087
Senior Secured Term Loans
Long-term debt
Long-term debt	115,349	76,656
Deferred debt issuance costs on term loans	(1,608)	(1,500)
Less current portion of deferred debt issuance costs on term loans	$ (442)	$ (406)

LONG-TERM DEBT - Senior Secured Credit Facility - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended	12 Months Ended
	Oct. 01, 2018	Oct. 02, 2017	Jun. 30, 2016	Jun. 30, 2019	Jun. 30, 2018	May 22, 2016
Long-term debt
Unamortized debt issuance costs				$ 451	$ 383
Dividends paid
Cash dividends paid			$ 79,945
Cash dividend per share			$ 4.30
Senior Secured Term Loans
Long-term debt
Unamortized debt issuance costs				1,608	1,500
Revolving Credit Facility
Long-term debt
Outstanding borrowings				0
Net availability under facility				35,000
Unamortized debt issuance costs				451	383
Second Amended Credit Agreement
Long-term debt
Maximum borrowing capacity						$ 80,000
Second Amended Credit Agreement \| Senior Secured Term Loans
Long-term debt
Loan commitment						50,000
Second Amended Credit Agreement \| Revolving Credit Facility
Long-term debt
Maximum borrowing capacity						$ 30,000
Third Amended Credit Agreement
Long-term debt
Maximum borrowing capacity		$ 145,000
Payment of deferred debt issuance costs					$ 1,240
Third Amended Credit Agreement \| Prime Rate
Long-term debt
Effective interest rate		1.00%
Third Amended Credit Agreement \| Prime Rate \| Minimum
Long-term debt
Variable margin rate		0.75%
Third Amended Credit Agreement \| Prime Rate \| Maximum
Long-term debt
Variable margin rate		1.75%
Third Amended Credit Agreement \| LIBOR
Long-term debt
Effective interest rate		2.00%
Third Amended Credit Agreement \| LIBOR \| Minimum
Long-term debt
Variable margin rate		1.75%
Third Amended Credit Agreement \| LIBOR \| Maximum
Long-term debt
Variable margin rate		2.75%
Third Amended Credit Agreement \| Senior Secured Term Loans
Long-term debt
Loan commitment		$ 115,000
Third Amended Credit Agreement \| Revolving Credit Facility
Long-term debt
Maximum borrowing capacity		$ 30,000
Fourth Amended Credit Agreement
Long-term debt
Maximum borrowing capacity	$ 190,000
Payment of deferred debt issuance costs				$ 729
Fourth Amended Credit Agreement \| Prime Rate
Long-term debt
Effective interest rate				0.75%
Fourth Amended Credit Agreement \| Prime Rate \| Minimum
Long-term debt
Variable margin rate	0.50%
Fourth Amended Credit Agreement \| Prime Rate \| Maximum
Long-term debt
Variable margin rate	1.50%
Fourth Amended Credit Agreement \| LIBOR
Long-term debt
Effective interest rate				1.75%
Fourth Amended Credit Agreement \| LIBOR \| Minimum
Long-term debt
Variable margin rate	1.50%
Fourth Amended Credit Agreement \| LIBOR \| Maximum
Long-term debt
Variable margin rate	2.50%
Fourth Amended Credit Agreement \| Senior Secured Term Loans
Long-term debt
Voluntary prepayments				$ 32,660
Fourth Amended Credit Agreement \| Revolving Credit Facility
Long-term debt
Maximum borrowing capacity	$ 35,000
Effective interest rate				4.48%	4.28%
Fourth Amended Credit Agreement \| Term Loan One
Long-term debt
Loan commitment	75,000
Fourth Amended Credit Agreement \| Term Loan Two
Long-term debt
Loan commitment	$ 80,000

LONG-TERM DEBT - Schedule of Maturities of Long-Term Debt (Details) - Senior Secured Term Loans - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Long-term debt maturities
2020	$ 9,167
2021	9,167
2022	11,459
2023	12,222
2024	73,334
Total	$ 115,349	$ 76,656

INCOME TAXES - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2017	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Earnings from continuing operations before income taxes and equity by jurisdiction
Income (loss) from continuing operations before income taxes and equity, foreign		$ 70	$ 112	$ (53)
Effect of Tax Cuts and Jobs Act of 2017, Accounting Incomplete, Provisional
Statutory income tax rate	35.00%	21.00%	28.06%	35.00%
Reduction in deferred tax liabilities from impact of Tax Cuts and Jobs Act of 2017			$ 647
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Unrecognized tax benefits that would impact effective tax rate		$ 1,934	1,308
Expense (benefit) from interest and penalties recorded		120	(288)
Amount of unrecognized benefits expected to increase over the next twelve months		968
Unrecognized tax positions
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Accrued for interest and penalties		391	$ 271
State
Operating Loss Carryforwards
Net operating loss carryforwards		2,785
Foreign
Operating Loss Carryforwards
Net operating loss carryforwards		$ 376

INCOME TAXES - Components of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Current income tax expense:
Federal	$ 10,405	$ 12,140	$ 5,803
State	1,892	276	1,584
Benefit of operating loss carryforwards	(171)	(117)	(118)
Total current tax expense	12,126	12,299	7,269
Deferred tax (benefit) expense:
Federal	(5,837)	525	4,154
State	(897)	32	300
Total deferred tax (benefit) expense	(6,734)	557	4,454
Income tax expense	$ 5,392	$ 12,856	$ 11,723

INCOME TAXES - Schedule of Difference Between Statutory and Effective Federal Tax Rate (Details)	6 Months Ended	12 Months Ended
	Dec. 31, 2017	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Difference between the statutory and the effective federal tax rate
Statutory income tax rate	35.00%	21.00%	28.06%	35.00%
State taxes (net of federal income tax benefit and valuation allowance)		2.48%	2.32%	2.83%
Change in valuation allowance		(0.57%)
Tax credits		(3.39%)	(0.44%)	(0.62%)
Revalue of deferred taxes for change in federal tax rate			(1.23%)
Uncertain tax positions		3.10%	(1.73%)	1.93%
Permanent differences		(2.54%)	(2.41%)	(1.72%)
Other		0.08%	(0.09%)	0.04%
Effective income tax rate		20.16%	24.48%	37.46%

INCOME TAXES - Summary of Significant Components of Company's Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Deferred tax assets:
Warranty reserves	$ 3,848	$ 2,898
Intangible asset basis difference	2,306
Repurchase agreements	427	247
Accrued selling	1,354
Unrecognized tax benefits	520	357
Stock Compensation	704	467
State net operating loss	144	130
Foreign net operating loss	79	81
Valuation allowance	(81)	(211)
Credits	48
Total deferred tax assets	9,349	3,969
Deferred tax liabilities:
Depreciation	(3,037)	(1,262)
Intangible asset basis difference		(4,009)
Other	(72)	(125)
Total deferred tax liabilities	(3,109)	(5,396)
Net deferred tax assets	$ 6,240
Net deferred tax liabilities		$ (1,427)

INCOME TAXES - Schedule of Net Deferred Tax Assets and Liabilities as Classified in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Classification of the related asset and liability
Noncurrent deferred tax liabilities		$ (1,427)
Noncurrent deferred tax assets	$ 6,240
Net deferred tax liabilities		$ (1,427)
Net deferred tax assets	$ 6,240

INCOME TAXES - Schedule of Reconciliation of Unrecognized Tax Benefits Excluding Accrued Amounts for Interest and Penalties (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Balance at beginning of period	$ 1,711	$ 2,442
Additions based on tax positions related to the current year	889	373
Additions for tax positions of prior years	473	180
Reductions for tax positions of prior years	(25)	(61)
Settlements of tax positions from prior years	(544)	(1,223)
Balance at end of period	$ 2,504	$ 1,711

SHARE-BASED COMPENSATION - 2015 Equity Incentive Plan - Additional Information (Details) - 2015 Plan	Jul. 22, 2015 shares	Jul. 16, 2015 shares	Jun. 30, 2019 shares
Stock-Based Compensation
Aggregate number of shares available to be issued		220,723
Stock split, conversion ratio	11.139
Shares authorized under plan	2,458,633
Shares available for grant			1,613,864

SHARE-BASED COMPENSATION - Restricted Stock Awards - Additional Information (Details) - Restricted stock awards - 2015 Plan - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Stock-Based Compensation
Stock-based compensation	$ 913	$ 616	$ 321
Income tax benefit recognized	217	190	121
Fair value of vested shares	713	$ 434	$ 240
Unrecognized compensation expense	$ 764
Weighted average period	1 year 9 months
Minimum \| Employees
Stock-Based Compensation
Vesting period (in years)			1 year
Maximum \| Employees
Stock-Based Compensation
Vesting period (in years)			3 years

SHARE-BASED COMPENSATION - Summary of Restricted Stock Awards Activity (Details) - 2015 Plan - Restricted stock awards - $ / shares	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Number of Stock Units Outstanding
Total Non-vested Stock Awards/Units at beginning of year	43,310	26,417
Granted	51,995	47,651	47,131
Vested	(33,093)	(25,870)	(18,740)
Forfeited	(8,408)	(4,888)	(1,974)
Total Non-vested Stock Awards/Units at end of year	53,804	43,310	26,417
Weighted Average Grant Date Fair Value
Total Non-vested Stock Awards/Units at beginning of year	$ 17.28	$ 12.22
Granted	26.79	19.88	$ 12.22
Vested	21.54	16.79	18.94
Forfeited	23.08	15.89	19.55
Total Non-vested Stock Awards/Units at end of year	$ 22.94	$ 17.28	$ 12.22

SHARE-BASED COMPENSATION - Performance Stock Units - Additional Information (Details) - Performance stock units - 2015 Plan - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Stock-Based Compensation
Stock-based compensation	$ 563,000	$ 355,000	$ 150,000
Income tax benefit recognized	134,000	110,000	56,000
Fair value of vested shares	384,000	$ 0	$ 0
Unrecognized compensation expense	$ 750,000
Weighted average period	1 year 9 months 18 days
Certain employees
Stock-Based Compensation
Vesting period (in years)	3 years

SHARE-BASED COMPENSATION - Summary of Performance Stock Units Activity (Details) - 2015 Plan - Performance stock units - $ / shares	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Number of Stock Units Outstanding
Total Non-vested Stock Awards/Units at beginning of year	59,328	40,612
Granted	35,122	26,416	42,586
Vested	(32,373)
Forfeited	(11,456)	(7,700)	(1,974)
Total Non-vested Stock Awards/Units at end of year	50,621	59,328	40,612
Weighted Average Grant Date Fair Value
Total Non-vested Stock Awards/Units at beginning of year	$ 14.98	$ 11.85
Granted	25.70	19.62	$ 11.85
Vested	11.85
Forfeited	19.73	14.42	11.85
Total Non-vested Stock Awards/Units at end of year	$ 23.34	$ 14.98	$ 11.85

SHARE-BASED COMPENSATION - Nonqualified Stock Option Awards - Additional Information (Details) - 2015 Plan - Nonqualified stock options - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Jul. 31, 2015	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016	Jun. 10, 2016
Stock-Based Compensation
Exercise price		$ 10.70	$ 10.70	$ 10.70	$ 10.70
Black-Scholes pricing model assumptions
Risk-free rate		1.93%
Expected term		6 years 3 months
Dividend rate		0.00%
Expected volatility		56.70%
Stock-based compensation		$ 201	$ 215	$ 240
Income tax benefit recognized		48	66	91
Fair value of NSOs vested		$ 215	$ 215	$ 253
Certain employees
Stock-Based Compensation
Options granted	137,786
Option price	$ 15.00
Vesting period (in years)	4 years
Reduction in exercise price pursuant to terms of the plan	$ 4.30
Exercise price	$ 15.00					$ 10.70

SHARE-BASED COMPENSATION - Summary of Nonqualified Stock Options Activity (Details) - 2015 Plan - Nonqualified stock options - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Shares
Outstanding at beginning of year	93,125	116,328	122,640
Exercised	(10,563)	(10,905)	(1,578)
Forfeited or expired	(1,703)	(12,298)	(4,734)
Outstanding at end of year	80,859	93,125	116,328	122,640
Fully vested and exercisable at end of year	56,556
Weighted Average Exercise Price
Outstanding at beginning of year	$ 10.70	$ 10.70	$ 10.70
Exercised	10.70	10.70	10.70
Forfeited or expired	10.70	10.70	10.70
Outstanding at end of year	10.70	$ 10.70	$ 10.70	$ 10.70
Fully vested and exercisable at end of year	$ 10.70
Weighted Average Remaining Contractual Term
Outstanding	6 years 1 month 6 days	7 years 1 month 6 days	8 years 1 month 6 days	9 years 1 month 6 days
Fully vested and exercisable at end of year	6 years 1 month 6 days
Aggregate Intrinsic Value
Outstanding at beginning of year	$ 1,700	$ 1,030	$ 43
Outstanding at end of year	719	$ 1,700	$ 1,030	$ 43
Fully vested and exercisable at end of year	$ 503

COMMITMENTS AND CONTINGENCIES - Operating Leases - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Operating leases
Lease expiring term	2029
Rental expense	$ 712	$ 666	$ 603

COMMITMENTS AND CONTINGENCIES - Future Minimum Rental Payments Under All Non-cancelable Operating Leases (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Future minimum rental payments
2020	$ 703
2021	690
2022	628
2023	402
2024	402
and thereafter	1,806
Total	$ 4,631

COMMITMENTS AND CONTINGENCIES - Repurchase Agreements - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Repurchase Obligations
Inventory repurchase contingent obligation	$ 1,936	$ 1,265
Obligation to Repurchase Inventory
Repurchase Obligations
Maximum repurchase obligation under floor plan agreements	229,744
Inventory repurchase contingent obligation	$ 1,936	$ 1,265
Obligation to Repurchase Inventory \| Maximum
Repurchase Obligations
Inventory repurchase contingent obligation period	30 months

EARNINGS PER SHARE - Factors Used in Earnings Per Share Computation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 30, 2018	Sep. 30, 2018	Jun. 30, 2018	Apr. 01, 2018	Dec. 31, 2017	Oct. 01, 2017	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share Basic [Line Items]
Net income									$ 21,354	$ 39,653	$ 19,570
Weighted average common shares — basic	18,658,701	18,657,719	18,653,111	18,646,039	18,619,834	18,622,083	18,619,834	18,615,100	18,653,892	18,619,793	18,592,885
Weighted average outstanding shares — diluted	18,658,701	18,756,605	18,772,322	18,768,764	18,702,352	18,728,424	18,702,352	18,686,626	18,768,207	18,714,531	18,620,708
Basic earnings per share	$ (0.54)	$ 0.68	$ 0.55	$ 0.45	$ 0.71	$ 0.62	$ 0.43	$ 0.38	$ 1.14	$ 2.13	$ 1.05
Diluted earnings per share	$ (0.54)	$ 0.68	$ 0.54	$ 0.45	$ 0.70	$ 0.61	$ 0.43	$ 0.38	$ 1.14	$ 2.12	$ 1.05
Stock options
Earnings Per Share Basic [Line Items]
Dilutive effect of assumed exercises of stock options and restricted share awards/units									45,799	38,835	4,488
Restricted stock awards
Earnings Per Share Basic [Line Items]
Dilutive effect of assumed exercises of stock options and restricted share awards/units									68,516	55,904	23,335

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

EARNINGS PER SHARE - Additional Information (Details) - shares	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Stock options And Restricted share awards/units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earning per share	10,681	25,908	100,247

SEGMENT INFORMATION - Additional Information (Details) - segment	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Number of operating segments	3
Number of reportable segments	3
MasterCraft \| Net Sales \| Geographical concentration \| Outside of North America
Segment Reporting Information [Line Items]
Net Sales, Percentage	5.20%	7.50%	9.10%

SEGMENT INFORMATION - Schedule of Operating Information for Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 30, 2018	Sep. 30, 2018	Jun. 30, 2018	Apr. 01, 2018	Dec. 31, 2017	Oct. 01, 2017	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Net sales	$ 122,809	$ 128,390	$ 121,541	$ 93,641	$ 95,430	$ 93,811	$ 78,435	$ 65,049	$ 466,381	$ 332,725	$ 228,634
Operating income	(11,538)	$ 18,464	$ 14,722	$ 11,611	18,938	$ 15,199	$ 10,782	$ 11,064	33,259	55,983	33,515
Depreciation and amortization									7,787	5,086	3,231
Goodwill and other intangible asset impairment									31,000
Purchases of property and equipment									14,064	5,305	$ 4,135
Total Assets	248,773				176,924				248,773	176,924
Eliminations
Segment Reporting Information [Line Items]
Total Assets	(163,013)				(81,160)				(163,013)	(81,160)
MasterCraft
Segment Reporting Information [Line Items]
Net sales									311,830	266,319
Operating income									53,989	49,363
Depreciation and amortization									3,481	3,283
Purchases of property and equipment									11,730	4,234
MasterCraft \| Operating Segments
Segment Reporting Information [Line Items]
Total Assets	273,046				170,218				273,046	170,218
NauticStar
Segment Reporting Information [Line Items]
Net sales									77,995	66,406
Operating income									(27,785)	6,620
Depreciation and amortization									2,684	1,803
Goodwill and other intangible asset impairment									31,000
Purchases of property and equipment									2,069	1,071
NauticStar \| Operating Segments
Segment Reporting Information [Line Items]
Total Assets	52,761				$ 87,866				52,761	$ 87,866
Crest
Segment Reporting Information [Line Items]
Net sales									76,556
Operating income									7,055
Depreciation and amortization									1,622
Purchases of property and equipment									265
Crest \| Operating Segments
Segment Reporting Information [Line Items]
Total Assets	$ 85,979								$ 85,979

QUARTERLY FINANCIAL REPORTING (UNAUDITED) - Summary of Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 30, 2018	Sep. 30, 2018	Jun. 30, 2018	Apr. 01, 2018	Dec. 31, 2017	Oct. 01, 2017	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 122,809	$ 128,390	$ 121,541	$ 93,641	$ 95,430	$ 93,811	$ 78,435	$ 65,049	$ 466,381	$ 332,725	$ 228,634
Gross profit	31,493	31,357	27,074	23,203	27,885	24,382	19,934	18,163	113,127	90,364	63,476
Operating income (loss)	(11,538)	18,464	14,722	11,611	18,938	15,199	10,782	11,064	33,259	55,983	33,515
Net income (loss)	$ (10,062)	$ 12,763	$ 10,188	$ 8,465	$ 13,144	$ 11,454	$ 8,009	$ 7,046	$ 21,354	$ 39,653	$ 19,570
Basic earnings per common share (loss)	$ (0.54)	$ 0.68	$ 0.55	$ 0.45	$ 0.71	$ 0.62	$ 0.43	$ 0.38	$ 1.14	$ 2.13	$ 1.05
Diluted earnings per common share (loss)	$ (0.54)	$ 0.68	$ 0.54	$ 0.45	$ 0.70	$ 0.61	$ 0.43	$ 0.38	$ 1.14	$ 2.12	$ 1.05
Weighted average shares used for computation of:
Basic earnings (loss) per common share	18,658,701	18,657,719	18,653,111	18,646,039	18,619,834	18,622,083	18,619,834	18,615,100	18,653,892	18,619,793	18,592,885
Diluted earnings (loss) per common share	18,658,701	18,756,605	18,772,322	18,768,764	18,702,352	18,728,424	18,702,352	18,686,626	18,768,207	18,714,531	18,620,708