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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Sep. 29, 2019	Nov. 04, 2019
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 29, 2019
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Registrant Name	Mastercraft Boat Holdings, Inc.
Entity Central Index Key	0001638290
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		18,853,997
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Title of 12(b) Security	Common Stock
Trading Symbol	MCFT
Security Exchange Name	NASDAQ
Entity File Number	001-37502
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	06-1571747
Entity Address, Address Line One	100 Cherokee Cove Drive
Entity Address, City or Town	Vonore
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37885
City Area Code	423
Local Phone Number	884-2221
Document Quarterly Report	true
Document Transition Report	false

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2019	Sep. 30, 2018
Income Statement [Abstract]
NET SALES	$ 109,789	$ 93,641
COST OF SALES	84,256	70,438
GROSS PROFIT	25,533	23,203
OPERATING EXPENSES:
Selling and marketing	4,064	4,290
General and administrative	7,785	6,772
Amortization of other intangible assets	987	530
Total operating expenses	12,836	11,592
OPERATING INCOME	12,697	11,611
OTHER EXPENSE:
Interest expense	1,344	920
INCOME BEFORE INCOME TAX EXPENSE	11,353	10,691
INCOME TAX EXPENSE	2,730	2,226
NET INCOME	$ 8,623	$ 8,465
EARNINGS PER COMMON SHARE:
Basic	$ 0.46	$ 0.45
Diluted	$ 0.46	$ 0.45
WEIGHTED AVERAGE SHARES USED FOR COMPUTATION OF:
Basic earnings per share	18,723,845	18,646,039
Diluted earnings per share	18,770,756	18,768,764

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 29, 2019	Jun. 30, 2019
CURRENT ASSETS:
Cash and cash equivalents	$ 6,411	$ 5,826
Accounts receivable, net of allowances of $248 and $281, respectively	9,287	12,463
Income tax receivable	1,415	951
Inventories, net (Note 4)	34,914	30,660
Prepaid expenses and other current assets	4,560	4,464
Total current assets	56,587	54,364
Property, plant and equipment, net	35,982	33,636
Goodwill (Note 6)	74,030	74,030
Other intangible assets, net (Note 6)	78,811	79,799
Deferred income taxes	6,090	6,240
Deferred debt issuance costs, net	424	451
Finance lease assets (Note 8)	4,115
Operating lease assets (Note 8)	942
Other long-term assets	253	253
Total assets	257,234	248,773
CURRENT LIABILITIES:
Accounts payable	16,974	17,974
Income tax payable		426
Accrued expenses and other current liabilities (Note 5)	41,581	41,421
Current portion of long-term debt, net of unamortized debt issuance costs (Note 7)	8,734	8,725
Total current liabilities	67,289	68,546
Long-term debt, net of unamortized debt issuance costs (Note 7)	105,121	105,016
Operating lease liabilities (Note 8)	613
Unrecognized tax positions	3,102	2,895
Total liabilities	176,125	176,457
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Common stock, $.01 par value per share — authorized, 100,000,000 shares; issued and outstanding, 18,838,997 shares at September 29, 2019 and 18,764,037 shares at June 30, 2019	189	188
Additional paid-in capital	115,751	115,582
Accumulated deficit	(34,831)	(43,454)
Total stockholders' equity	81,109	72,316
Total liabilities and stockholders' equity	$ 257,234	$ 248,773

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 29, 2019	Jun. 30, 2019
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts	$ 248	$ 281
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	100,000,000	100,000,000
Common stock, issued shares	18,838,997	18,764,037
Common stock, outstanding shares	18,838,997	18,764,037

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Balance, beginning at Jun. 30, 2018	$ 52,522	$ 187	$ 114,052	$ (61,717)
Balance, beginning (in shares) at Jun. 30, 2018		18,682,338
Increase (decrease) in stockholders' equity
Adoption of accounting standards \| ASU 14-09	(3,091)			(3,091)
Equity-based compensation activity	279		279
Equity-based compensation activity (shares)		39,082
Net income	8,465			8,465
Balance, ending at Sep. 30, 2018	58,175	$ 187	114,331	(56,343)
Balance, ending (in shares) at Sep. 30, 2018		18,721,420
Balance, beginning at Jun. 30, 2019	72,316	$ 188	115,582	(43,454)
Balance, beginning (in shares) at Jun. 30, 2019		18,764,037
Increase (decrease) in stockholders' equity
Equity-based compensation activity	170	$ 1	169
Equity-based compensation activity (shares)		74,960
Net income	8,623			8,623
Balance, ending at Sep. 29, 2019	$ 81,109	$ 189	$ 115,751	$ (34,831)
Balance, ending (in shares) at Sep. 29, 2019		18,838,997

- Definition

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

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2019	Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 8,623	$ 8,465
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,371	1,435
Noncash lease expense	152
Inventory obsolescence reserve	158	13
Amortization of debt issuance costs	142	127
Stock-based compensation	512	384
Change in interest rate cap fair value	37	(2)
Unrecognized tax benefits	207	115
Deferred income taxes	150	(284)
Net provision for doubtful accounts	(34)	66
Gain on disposal of fixed assets	(3)	(3)
Changes in operating assets and liabilities:
Accounts receivable	3,210	(3,861)
Inventories	(4,412)	(1,275)
Prepaid expenses and other current assets	(133)	(290)
Income tax receivable and payable, net	(890)	(1,381)
Other assets		(1)
Accounts payable	(412)	2,199
Accrued expenses and other current liabilities	(4,297)	(2,340)
Operating lease liabilities	(139)
Net cash provided by operating activities	5,242	3,367
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(4,328)	(3,425)
Proceeds from disposal of property and equipment	14	3
Net cash used in investing activities	(4,314)	(3,422)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash paid for withholding taxes on vested stock	(343)	(105)
Principal payments on long-term debt		(1,656)
Net cash used in financing activities	(343)	(1,761)
NET CHANGE IN CASH AND CASH EQUIVALENTS	585	(1,816)
CASH AND CASH EQUIVALENTS — BEGINNING OF PERIOD	5,826	7,909
CASH AND CASH EQUIVALENTS — END OF PERIOD	6,411	6,093
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash payments for interest	835	1,025
Cash payments for income taxes	3,501	$ 3,775
SIGNIFICANT NON-CASH INVESTING AND FINANCING ACTIVITIES:
Capital expenditures in accounts payable and accrued expenses	$ 321

ORGANIZATION, BASIS OF PRESENTATION, AND SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Sep. 29, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

ORGANIZATION, BASIS OF PRESENTATION, AND SIGNIFICANT ACCOUNTING POLICIES

1.ORGANIZATION, BASIS OF PRESENTATION, AND SIGNIFICANT ACCOUNTING POLICIES

Organization — 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”.

The Company is a leading innovator, designer, manufacturer, and marketer of recreational powerboats that operates in three reportable segments: MasterCraft, NauticStar and Crest. See Note 12 for information regarding the Company’s reportable segments.

Basis of Presentation — The Company’s fiscal year begins July 1 and ends June 30, with the interim quarterly reporting periods consisting of 13 weeks. Therefore, the quarter end will not always coincide with the date of the end of a calendar month.

The unaudited condensed consolidated financial statements have been prepared on the same basis as the Company’s audited consolidated financial statements for the year ended June 30, 2019 and, in the opinion of management, reflect all adjustments considered necessary to present fairly the Company’s financial position as of September 29, 2019, its results of operations for the three months ended September 29, 2019 and September 30, 2018, its cash flows for the three months ended September 29, 2019 and September 30, 2018, and its statements of stockholders’ equity for the three months ended September 29, 2019 and September 30, 2018. All adjustments are of a normal recurring nature. Certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for financial information have been condensed or omitted pursuant to such rules and regulations. The June 30, 2019 condensed consolidated balance sheet data was derived from the audited financial statements but does not include all disclosures required by U.S. GAAP for complete financial statements. However, management believes that the disclosures in these condensed consolidated financial statements are adequate to make the information presented not misleading. These condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2019, which was filed with the SEC on September 13, 2019.

Due to the seasonality of the Company’s business, the interim results are not necessarily indicative of the results that may be expected for the remainder of the fiscal year.

With the exception of Accounting Standards Codification (“ASC”) 842 discussed below, there were no significant changes in or changes in the application of the Company’s significant or critical accounting policies or estimation procedures for the three months ended September 29, 2019 as compared with the significant accounting policies described in the Company’s audited consolidated financial statements for the fiscal year ended June 30, 2019.

Recently Adopted Accounting Standards

Leases

In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, Leases, (“ASC 842”) which requires lessees to recognize assets and liabilities on the balance sheet for all leases with terms greater than twelve months. On July 1, 2019, the Company adopted ASC 842 and all related amendments. The Company elected the optional transition method provided by the FASB in ASU 2018-11, Leases (Topic 842): Targeted Improvements, and as a result, has not restated its condensed consolidated financial statements for prior periods presented. The Company has elected the package of practical expedients upon transition which allowed the Company to retain the lease classification for any leases that existed prior to adoption, to not reassess whether any contracts entered into prior to adoption are leases, and to not reassess initial direct costs for any leases that existed prior to adoption.

ASC 842 did not have a material impact on the Company's condensed consolidated statements of operations. The cumulative effect of the changes made to the Company's consolidated balance sheet as of July 1, 2019 for the adoption of ASC 842 was as follows:

	Balance as of		Adjustments		Balance as of
	June 30, 2019		Due to ASC 842		July 1, 2019
Assets
Operating lease assets	$	-	$	3,931	$	3,931

Current liabilities
Accrued expenses and other current liabilities		41,421		547		41,968

Long-term liabilities
Operating lease liabilities		-		3,384		3,384

The Company determines if an arrangement is a lease at lease inception. Operating lease right-of-use (“ROU”) assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. As the Company's lease contracts generally do not include an implicit rate, the Company uses its incremental borrowing rate based on information available at commencement date in determining the present value of future payments. The incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments, and in economic environments where the leased asset is located. The operating lease ROU asset also includes any initial direct costs and lease payments made prior to lease commencement, and excludes lease incentives incurred.

The Company's lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Operating lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company may enter into lease agreements that contain both lease and non-lease components, which it has elected to account for as a single lease component for all asset classes. See Note 8 for information regarding the Company’s leases.

Share-Based Compensation

In June 2018, the Financial Accounting Standards Board 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 adopted this guidance for its fiscal year beginning July 1, 2019. The adoption of this standard did not have a material impact on its financial condition, results of operations, or cash flows.

Recently Issued Accounting Standards

Fair Value Measurements

In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. This guidance modifies the disclosure requirements on fair value measurements in Topic 820 by removing disclosures regarding transfers between Level 1 and Level 2 of the fair value hierarchy, by modifying the measurement uncertainty disclosure, and by requiring additional disclosures for Level 3 fair value measurements, among others. The amendments are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company is currently evaluating the effect that the adoption of this new guidance is expected to have on our related disclosures.

REVENUE RECOGNITION

3 Months Ended

Sep. 29, 2019

Revenue From Contract With Customer [Abstract]

REVENUE RECOGNITION

2.	REVENUE RECOGNITION

The following tables present the Company’s revenue from contracts with customers by major product category and reportable segment.

	Three Months Ended September 29, 2019
	MasterCraft		NauticStar		Crest		Total
Major Product Categories:
Boats and trailers	$	69,286	$	17,834	$	18,624	$	105,744
Parts		3,432		160		181		3,773
Other revenue		195		1		76		272
Total	$	72,913	$	17,995	$	18,881	$	109,789

	Three Months Ended September 30, 2018
	MasterCraft		NauticStar		Crest^(a)		Total
Major Product Categories:
Boats and trailers	$	72,376	$	17,123	$	-	$	89,499
Parts		3,581		280		-		3,861
Other revenue		277		4		-		281
Total	$	76,234	$	17,407	$	-	$	93,641

(a)

Crest was acquired on October 1, 2018.

Contract Liabilities

As of June 30, 2019, the Company had $0.8 million of contract liabilities associated with customer deposits. During the three months ended September 29, 2019, $0.7 million of this amount was recognized as revenue. As of September 29, 2019, total contract liabilities were $1.1 million and were reported in Accrued expenses and other current liabilities on the condensed consolidated balance sheet and are expected to be recognized as revenue during the remainder of the year ended June 30, 2020.

RELATED PARTY TRANSACTIONS

3 Months Ended

Sep. 29, 2019

Related Party Transactions

3.	RELATED PARTY TRANSACTIONS

Crest Facility Lease

In connection with the operations of Crest, the Company makes rental payments to Crest Marine Real Estate LLC (“Real Estate”) for a manufacturing facility, storage and office building (the “Crest Facility”). One of the minority owners of Real Estate is a member of the Crest management team. The ten-year lease expires on September 30, 2028, and is subject to four consecutive, five-year renewal periods. The lease terms include an option for the Company to purchase the Crest Facility for an amount equal to its fair market value, as determined by appraisals and negotiation between the Company and Real Estate (the “Purchase Option”). The annual rent under the lease is $0.3 million for the first five years of the lease term and will increase to $0.4 million for the remaining five years. Additionally, at the beginning of each of the optional renewal terms the rent will be adjusted based upon the change in the Consumer Price Index. During the three months ended September 29, 2019, the Company recognized lease expense of $0.1 million as a result of this lease. In accordance with the Purchase Option, on October 24, 2019 the Company purchased the Crest Facility for $4.1 million. See Note 8 for additional information regarding the purchase.

Crest Supplier Relationship

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 interest in Real Estate. During the three months ended September 29, 2019, the Company purchased $0.8 million of products from the supplier. As of September 29, 2019 and June 30, 2019, the outstanding balance due to the supplier was $0.2 million and $0.1 million, respectively.

INVENTORIES

3 Months Ended

Sep. 29, 2019

Inventory Disclosure [Abstract]

INVENTORIES

4.	INVENTORIES

Inventories consisted of the following:

	September 29, 2019			June 30, 2019
Raw materials and supplies	$	21,357		$	20,034
Work in process		4,931			4,571
Finished goods		9,936			7,207
Obsolescence reserve		(1,310	)		(1,152	)
Total inventories	$	34,914		$	30,660

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

3 Months Ended

Sep. 29, 2019

Accrued Liabilities And Other Liabilities [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

5.	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consisted of the following:

	September 29, 2019		June 30, 2019
Warranty	$	17,690	$	17,205
Dealer incentives		7,622		12,623
Current lease liabilities		4,457		—
Compensation and related accruals		2,456		3,494
Floor plan interest		3,328		2,060
Inventory repurchase contingent obligation		1,259		1,936
Self-insurance		716		606
Debt interest		743		405
Other		3,310		3,092
Total accrued expenses and other current liabilities	$	41,581	$	41,421

The following activity related to warranty liabilities was recorded in accrued expenses during the three months ended September 29, 2019 and September 30, 2018:

	September 29, 2019			September 30, 2018
Balance at the beginning of the period	$	17,205		$	13,077
Provisions		1,999			1,769
Payments made		(2,302	)		(2,249	)
Aggregate changes for preexisting warranties		788			857
Balance at the end of the period	$	17,690		$	13,454

GOODWILL AND OTHER INTANGIBLE ASSETS

3 Months Ended

Sep. 29, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

6.GOODWILL AND OTHER INTANGIBLE ASSETS

The carrying amounts of goodwill as of September 29, 2019 and June 30, 2019, attributable to each of the Company’s reportable segments, were as follows:

	Gross Amount		Accumulated Impairment Losses			Total
MasterCraft	$	29,593	$	-		$	29,593
NauticStar		36,199		(28,000	)		8,199
Crest		36,238		-			36,238
Total	$	102,030	$	(28,000	)	$	74,030

The following table shows changes in the carrying amount of Other intangible assets, net.

	September 29, 2019							June 30, 2019
	Gross Amount		Accumulated Amortization / Impairment			Other intangible assets, net		Gross Amount		Accumulated Amortization / Impairment			Other intangible assets, net
Amortized intangible assets
Dealer networks	$	39,500	$	(6,885	)	$	32,615	$	39,500	$	(5,909	)	$	33,591
Software		245		(49	)		196		245		(37	)		208
		39,745		(6,934	)		32,811		39,745		(5,946	)		33,799

Unamortized intangible assets
Trade names		49,000		(3,000	)		46,000		49,000		(3,000	)		46,000
Total intangible assets	$	88,745	$	(9,934	)	$	78,811	$	88,745	$	(8,946	)	$	79,799

Amortization expense for the three months ended September 29, 2019 and September 30, 2018 was $1.0 million and $0.5 million, respectively. Estimated amortization expense for the fiscal year ended June 30, 2020 is $4.0 million.

During the fiscal fourth quarter of the year ended June 30, 2019, the Company recorded a $28.0 million impairment of goodwill and a $3.0 million impairment of trade name in our NauticStar segment. Because the carrying value of the NauticStar segment was equal to its fair value at June 30, 2019, as a result of the fiscal 2019 impairments, if actual performance of the NauticStar segment falls short of expected results, additional material impairment charges may be required. During the three months ended September 29, 2019, the Company assessed for triggering events that could indicate the need to perform an impairment test and concluded there were no triggering events during the period.

LONG-TERM DEBT

3 Months Ended

Sep. 29, 2019

Debt Disclosure [Abstract]

LONG-TERM DEBT

7.LONG-TERM DEBT

Long-term debt outstanding is as follows:

	September 29, 2019			June 30, 2019
Senior secured term loans	$	115,349		$	115,349
Debt issuance costs on term loans		(1,494	)		(1,608	)
Total debt		113,855			113,741
Less current portion of long-term debt		9,167			9,167
Less current portion of debt issuance costs on term loans		(433	)		(442	)
Long-term debt — less current portion	$	105,121		$	105,016

On October 1, 2018, the Company entered into the 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 $190.0 million senior secured credit facility, consisting of a $75.0 million term loan, and an $80.0 million term loan (together, the “Term Loans”), and a $35.0 million revolving credit facility (the “Revolving Credit Facility”).

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 September 29, 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 September 29, 2019 and June 30, 2019, the Company’s unamortized debt issuance costs related to the Term Loans were $1.5 million and $1.6 million, respectively. These costs are being amortized over the term of the Fourth Amended Credit Agreement.

As of September 29, 2019, the Company had no borrowings outstanding on its Revolving Credit Facility and the availability under the Revolving Credit Facility was $35.0 million. The Company’s unamortized debt issuance costs related to the Revolving Credit Facility were $0.4 million and $0.5 million as of September 29, 2019 and June 30, 2019, respectively. As of September 29, 2019, the Company was in compliance with its financial covenants under the Fourth Amended Credit Agreement.

LEASES

3 Months Ended

Sep. 29, 2019

Leases [Abstract]

LEASES

8. LEASES

The Company has lease agreements for the Crest Facility and certain personal property. Leases with an initial lease term of 12 months or less are not recorded on the balance sheet.

Certain leases include one or more options to renew, with renewal terms that can extend the lease term from one to five years or more. The exercise of lease renewal options is at the Company’s sole discretion. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

As of September 29, 2019, the Company’s most significant lease is for the Crest Facility which includes the Purchase Option for the Company to acquire the premises. Upon adoption of ASC 842 on July 1, 2019, this lease was classified as an operating lease. During the three months ended September 29, 2019, the decision was made to exercise the Purchase Option which resulted in $2.8 million of operating lease assets and liabilities being reclassified to finance lease assets and liabilities on the September 29, 2019 condensed consolidated balance sheet. In addition, the decision to exercise the Purchase Option resulted in the remeasurement of the related lease balances which added $1.3 million of additional finance lease assets and finance lease liabilities to the September 29, 2019 condensed consolidated balance sheet.

A summary of the Company's lease assets and lease liabilities as of September 29, 2019 is as follows:

	Classification	September 29, 2019
Lease Assets
Finance lease assets	Finance lease assets	$	4,115
Operating lease assets	Operating lease assets		942
Total lease assets		$	5,057

Lease Liabilities
Current finance lease liabilities	Accrued expenses and other current liabilities	$	4,128
Current operating lease liabilities	Accrued expenses and other current liabilities		329
Non-current operating lease liabilities	Operating lease liabilities		613
Total lease liabilities		$	5,070

In accordance with the Purchase Option, on October 24, 2019 the Company completed the purchase of the Crest Facility for $4.1 million. The purchase price was determined by appraisal and negotiation between the Company and Real Estate. The Company funded the purchase by utilizing cash from operations.

A summary of the Company's total lease cost for the three months ended September 29, 2019 is as follows:

	Classification	September 29, 2019
Operating lease cost	Cost of sales	$	198
	General and administrative		6
Total lease cost^(a)		$	204

(a)

Includes total variable lease cost and total short-term lease cost, both of which were immaterial.

The Company's maturity analysis of its operating lease liabilities as of September 29, 2019 is as follows:

Remainder of 2020	$	312
2021		380
2022		303
2023		72
2024		1
Total lease payments		1,068
Less: Interest		(76	)
Present value of lease payments	$	992

The total weighted-average discount rate and remaining lease term for the Company's operating leases were 4.73% and 2.8 years, respectively, as of September 29, 2019. Total operating cash flows related to operating leases were $0.2 million for the three months ended September 29, 2019.

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

2020	$	703
2021		690
2022		628
2023		402
2024		402
Thereafter		1,806
Total	$	4,631

INCOME TAXES

3 Months Ended

Sep. 29, 2019

Income Tax Disclosure [Abstract]

INCOME TAXES

9.	INCOME TAXES

The Company’s consolidated interim effective tax rate is based on a current estimate of the annual effective income tax rate adjusted to reflect the impact of discrete items. During the three months ended September 29, 2019 and September 30, 2018, the Company’s effective tax rate was 24.0% and 20.8%, respectively. The differences between the Company’s effective tax rates and the statutory federal tax rate of 21.0% primarily relate to the inclusion of the state tax rate in the overall effective rate and a permanent benefit associated with the foreign derived intangible income deduction. The Company’s effective tax rate for the three months ended September 29, 2019 is higher compared to the effective tax rate for the three months ended September 30, 2018, primarily due to favorable discrete adjustments which reduced the effective tax rate for the three months ended September 30, 2018.

EARNINGS PER SHARE

3 Months Ended

Sep. 29, 2019

Earnings Per Share [Abstract]

EARNINGS PER SHARE

10.	EARNINGS PER SHARE

The following table sets forth the computation of the Company’s earnings per share:

	Three Months Ended
	September 29, 2019		September 30, 2018
Net income	$	8,623	$	8,465
Weighted average common shares — basic		18,723,845		18,646,039
Dilutive effect of assumed exercises of stock options		27,474		52,353
Dilutive effect of assumed restricted share awards/units		19,437		70,372
Weighted average outstanding shares — diluted		18,770,756		18,768,764
Basic earnings per share	$	0.46	$	0.45
Diluted earnings per share	$	0.46	$	0.45

For the three months ended September 29, 2019, the weighted average shares that were anti-dilutive, and therefore excluded from the computation of diluted earnings per share, included 56,108 and 42,919 of restricted stock awards (“RSAs”) and performance stock units (“PSUs”), respectively. For the three months ended September 30, 2018, there were no anti-dilutive weighted average shares to be excluded from the computation of diluted earnings per share.

SHARE-BASED COMPENSATION

3 Months Ended

Sep. 29, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

SHARE-BASED COMPENSATION

11.	SHARE-BASED COMPENSATION

The following table presents the components of share-based compensation expense by award type.

	September 29, 2019		September 30, 2018
Stock options	$	9	$	54
Restricted stock awards		252		202
Performance stock units		251		128
Share-based compensation expense	$	512	$	384

Restricted Stock Awards

During the three months ended September 29, 2019, the Company granted 79,894 RSAs to the Company’s non-executive directors, officers and certain other key employees. The shares of restricted stock granted during the three months ended September 29, 2019, vest pro-rata over three years for officers and certain other key employees and over one year for non-executive directors. We determined the fair value of the shares awarded by using the close price of our common stock as of the date of grant. The weighted average grant date value of RSAs granted in the three months ended September 29, 2019, was $18.03 per share.

The following table summarizes the status of nonvested RSAs as of September 29, 2019, and changes during the three months then ended.


				Average
	Nonvested			Grant-Date
	Restricted			Fair Value
	Shares			(per share)
Nonvested at June 30, 2019		53,804		$	22.94
Granted		79,894		$	18.03
Vested		(23,173	)	$	20.39
Forfeited		-		$	-
Nonvested at September 29, 2019		110,525		$	19.93

As of September 29, 2019, there was $2.0 million of total unrecognized compensation expense related to nonvested RSAs. The Company expects this expense to be recognized over a weighted average period of 2.1 years.

Performance Stock Units

PSUs are a form of long-term incentive compensation awarded to executive officers and certain other key employees designed to directly align the interests of employees to the interests of the Company’s stockholders, and to create long-term stockholder value. The awards will be earned based on the Company’s achievement of certain performance criteria over a three-year performance period. The performance period for the awards 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 is 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 using a Monte Carlo Simulation model, which considers the likelihood of numerous possible outcomes of long-term market performance. Compensation expense related to nonvested PSUs is recognized ratably over the performance period.

The following table summarizes the status of nonvested PSUs as of September 29, 2019, and changes during the three months then ended.


			Average
	Nonvested		Grant-Date
	Performance		Fair Value
	Stock Units		(per share)
Nonvested at June 30, 2019		50,621	$	23.34
Granted		53,485		18.47
Vested		-		-
Forfeited		-		-
Nonvested at September 29, 2019		104,106		20.84

As of September 29, 2019, there was $1.6 million of total unrecognized compensation expense related to nonvested PSUs. The Company expects this expense to be recognized over a weighted average period of 2.3 years.

SEGMENT INFORMATION

3 Months Ended

Sep. 29, 2019

Segment Reporting [Abstract]

SEGMENT INFORMATION

12.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.

The following tables present financial information for the Company’s reportable segments for the three months ended September 29, 2019 and September 30, 2018 and the Company’s financial position at September 29, 2019 and June 30, 2019.

	Three Months Ended September 29, 2019
	MasterCraft		NauticStar		Crest		Consolidated
Net sales	$	72,913	$	17,995	$	18,881	$	109,789
Operating income		12,207		27		463		12,697
Depreciation and amortization		1,020		801		550		2,371
Purchases of property and equipment		2,733		819		776		4,328

	Three Months Ended September 30, 2018
	MasterCraft		NauticStar		Crest^(a)		Consolidated
Net sales	$	76,234	$	17,407	$	—	$	93,641
Operating income		11,530		81		—		11,611
Depreciation and amortization		805		630		—		1,435
Purchases of property and equipment		2,735		690		—		3,425

(a)

Crest was acquired on October 1, 2018.

	As of September 29, 2019			As of June 30, 2019
Assets:
MasterCraft	$	279,370		$	273,046
NauticStar		52,911			52,761
Crest		87,966			85,979
Eliminations		(163,013	)		(163,013	)
Total assets	$	257,234		$	248,773

ORGANIZATION, BASIS OF PRESENTATION, AND SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

Sep. 29, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization

Fiscal Period

The Company’s fiscal year begins July 1 and ends June 30, with the interim quarterly reporting periods consisting of 13 weeks. Therefore, the quarter end will not always coincide with the date of the end of a calendar month.

Principles of Consolidation

Basis of Accounting

Due to the seasonality of the Company’s business, the interim results are not necessarily indicative of the results that may be expected for the remainder of the fiscal year.

New Accounting Pronouncements Issued, Adopted and Not Yet Adopted

Recently Adopted Accounting Standards

Leases

	Balance as of		Adjustments		Balance as of
	June 30, 2019		Due to ASC 842		July 1, 2019
Assets
Operating lease assets	$	-	$	3,931	$	3,931

Current liabilities
Accrued expenses and other current liabilities		41,421		547		41,968

Long-term liabilities
Operating lease liabilities		-		3,384		3,384

Share-Based Compensation

Recently Issued Accounting Standards

Fair Value Measurements

ORGANIZATION, BASIS OF PRESENTATION, AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Sep. 29, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Summary of Cumulative Effect of Changes Made to Company's Consolidated Balance Sheets

The cumulative effect of the changes made to the Company's consolidated balance sheet as of July 1, 2019 for the adoption of ASC 842 was as follows:

	Balance as of		Adjustments		Balance as of
	June 30, 2019		Due to ASC 842		July 1, 2019
Assets
Operating lease assets	$	-	$	3,931	$	3,931

Current liabilities
Accrued expenses and other current liabilities		41,421		547		41,968

Long-term liabilities
Operating lease liabilities		-		3,384		3,384

REVENUE RECOGNITION (Tables)

3 Months Ended

Sep. 29, 2019

Revenue From Contract With Customer [Abstract]

Summary of Revenues from Contracts with Customers by Major Product Category and Reportable Segment

The following tables present the Company’s revenue from contracts with customers by major product category and reportable segment.

	Three Months Ended September 29, 2019
	MasterCraft		NauticStar		Crest		Total
Major Product Categories:
Boats and trailers	$	69,286	$	17,834	$	18,624	$	105,744
Parts		3,432		160		181		3,773
Other revenue		195		1		76		272
Total	$	72,913	$	17,995	$	18,881	$	109,789

	Three Months Ended September 30, 2018
	MasterCraft		NauticStar		Crest^(a)		Total
Major Product Categories:
Boats and trailers	$	72,376	$	17,123	$	-	$	89,499
Parts		3,581		280		-		3,861
Other revenue		277		4		-		281
Total	$	76,234	$	17,407	$	-	$	93,641

(a)

Crest was acquired on October 1, 2018.

INVENTORIES (Tables)

3 Months Ended

Sep. 29, 2019

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories consisted of the following:

	September 29, 2019			June 30, 2019
Raw materials and supplies	$	21,357		$	20,034
Work in process		4,931			4,571
Finished goods		9,936			7,207
Obsolescence reserve		(1,310	)		(1,152	)
Total inventories	$	34,914		$	30,660

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

3 Months Ended

Sep. 29, 2019

Accrued Liabilities And Other Liabilities [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:

	September 29, 2019		June 30, 2019
Warranty	$	17,690	$	17,205
Dealer incentives		7,622		12,623
Current lease liabilities		4,457		—
Compensation and related accruals		2,456		3,494
Floor plan interest		3,328		2,060
Inventory repurchase contingent obligation		1,259		1,936
Self-insurance		716		606
Debt interest		743		405
Other		3,310		3,092
Total accrued expenses and other current liabilities	$	41,581	$	41,421

Schedule of Activity Related to Warranty Liabilities Recorded in Accrued Expenses

The following activity related to warranty liabilities was recorded in accrued expenses during the three months ended September 29, 2019 and September 30, 2018:

	September 29, 2019			September 30, 2018
Balance at the beginning of the period	$	17,205		$	13,077
Provisions		1,999			1,769
Payments made		(2,302	)		(2,249	)
Aggregate changes for preexisting warranties		788			857
Balance at the end of the period	$	17,690		$	13,454

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

3 Months Ended

Sep. 29, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Carrying Amounts of Goodwill

The carrying amounts of goodwill as of September 29, 2019 and June 30, 2019, attributable to each of the Company’s reportable segments, were as follows:

	Gross Amount		Accumulated Impairment Losses			Total
MasterCraft	$	29,593	$	-		$	29,593
NauticStar		36,199		(28,000	)		8,199
Crest		36,238		-			36,238
Total	$	102,030	$	(28,000	)	$	74,030

Schedule of Carrying Amount of Other Intangible Assets, Net

The following table shows changes in the carrying amount of Other intangible assets, net.

	September 29, 2019							June 30, 2019
	Gross Amount		Accumulated Amortization / Impairment			Other intangible assets, net		Gross Amount		Accumulated Amortization / Impairment			Other intangible assets, net
Amortized intangible assets
Dealer networks	$	39,500	$	(6,885	)	$	32,615	$	39,500	$	(5,909	)	$	33,591
Software		245		(49	)		196		245		(37	)		208
		39,745		(6,934	)		32,811		39,745		(5,946	)		33,799

Unamortized intangible assets
Trade names		49,000		(3,000	)		46,000		49,000		(3,000	)		46,000
Total intangible assets	$	88,745	$	(9,934	)	$	78,811	$	88,745	$	(8,946	)	$	79,799

LONG-TERM DEBT (Tables)

3 Months Ended

Sep. 29, 2019

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Outstanding

Long-term debt outstanding is as follows:

	September 29, 2019			June 30, 2019
Senior secured term loans	$	115,349		$	115,349
Debt issuance costs on term loans		(1,494	)		(1,608	)
Total debt		113,855			113,741
Less current portion of long-term debt		9,167			9,167
Less current portion of debt issuance costs on term loans		(433	)		(442	)
Long-term debt — less current portion	$	105,121		$	105,016

- 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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-Name Accounting Standards Codification
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-Paragraph 1
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-Topic 835
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Subparagraph (SX 210.4-08.(e),(f))
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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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-Topic 835
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Topic 505
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

LEASES (Tables)

3 Months Ended

Sep. 29, 2019

Leases [Abstract]

Summary of Company's Lease Assets and Lease Liabilities

A summary of the Company's lease assets and lease liabilities as of September 29, 2019 is as follows:

	Classification	September 29, 2019
Lease Assets
Finance lease assets	Finance lease assets	$	4,115
Operating lease assets	Operating lease assets		942
Total lease assets		$	5,057

Lease Liabilities
Current finance lease liabilities	Accrued expenses and other current liabilities	$	4,128
Current operating lease liabilities	Accrued expenses and other current liabilities		329
Non-current operating lease liabilities	Operating lease liabilities		613
Total lease liabilities		$	5,070

Summary of Company's Total Lease Cost

A summary of the Company's total lease cost for the three months ended September 29, 2019 is as follows:

	Classification	September 29, 2019
Operating lease cost	Cost of sales	$	198
	General and administrative		6
Total lease cost^(a)		$	204

(a)

Includes total variable lease cost and total short-term lease cost, both of which were immaterial.

Summary of Company's Maturity Analysis of Operating Lease Liabilities

The Company's maturity analysis of its operating lease liabilities as of September 29, 2019 is as follows:

Remainder of 2020	$	312
2021		380
2022		303
2023		72
2024		1
Total lease payments		1,068
Less: Interest		(76	)
Present value of lease payments	$	992

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, were as follows:

2020	$	703
2021		690
2022		628
2023		402
2024		402
Thereafter		1,806
Total	$	4,631

EARNINGS PER SHARE (Tables)

3 Months Ended

Sep. 29, 2019

Earnings Per Share [Abstract]

Factors Used in Earnings Per Share Computation

The following table sets forth the computation of the Company’s earnings per share:

	Three Months Ended
	September 29, 2019		September 30, 2018
Net income	$	8,623	$	8,465
Weighted average common shares — basic		18,723,845		18,646,039
Dilutive effect of assumed exercises of stock options		27,474		52,353
Dilutive effect of assumed restricted share awards/units		19,437		70,372
Weighted average outstanding shares — diluted		18,770,756		18,768,764
Basic earnings per share	$	0.46	$	0.45
Diluted earnings per share	$	0.46	$	0.45

SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Sep. 29, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Components of Share-based Compensation Expense by Award Type

The following table presents the components of share-based compensation expense by award type.

	September 29, 2019		September 30, 2018
Stock options	$	9	$	54
Restricted stock awards		252		202
Performance stock units		251		128
Share-based compensation expense	$	512	$	384

Summary of Status of Nonvested Restricted Stock Awards and Changes

The following table summarizes the status of nonvested RSAs as of September 29, 2019, and changes during the three months then ended.


				Average
	Nonvested			Grant-Date
	Restricted			Fair Value
	Shares			(per share)
Nonvested at June 30, 2019		53,804		$	22.94
Granted		79,894		$	18.03
Vested		(23,173	)	$	20.39
Forfeited		-		$	-
Nonvested at September 29, 2019		110,525		$	19.93

Summary of Status of Nonvested Performance Stock Units and Changes

The following table summarizes the status of nonvested PSUs as of September 29, 2019, and changes during the three months then ended.


			Average
	Nonvested		Grant-Date
	Performance		Fair Value
	Stock Units		(per share)
Nonvested at June 30, 2019		50,621	$	23.34
Granted		53,485		18.47
Vested		-		-
Forfeited		-		-
Nonvested at September 29, 2019		104,106		20.84

SEGMENT INFORMATION (Tables)

3 Months Ended

Sep. 29, 2019

Segment Reporting [Abstract]

Schedule of Operating Information for Reportable Segments

	Three Months Ended September 29, 2019
	MasterCraft		NauticStar		Crest		Consolidated
Net sales	$	72,913	$	17,995	$	18,881	$	109,789
Operating income		12,207		27		463		12,697
Depreciation and amortization		1,020		801		550		2,371
Purchases of property and equipment		2,733		819		776		4,328

	Three Months Ended September 30, 2018
	MasterCraft		NauticStar		Crest^(a)		Consolidated
Net sales	$	76,234	$	17,407	$	—	$	93,641
Operating income		11,530		81		—		11,611
Depreciation and amortization		805		630		—		1,435
Purchases of property and equipment		2,735		690		—		3,425

(a)

Crest was acquired on October 1, 2018.

	As of September 29, 2019			As of June 30, 2019
Assets:
MasterCraft	$	279,370		$	273,046
NauticStar		52,911			52,761
Crest		87,966			85,979
Eliminations		(163,013	)		(163,013	)
Total assets	$	257,234		$	248,773

ORGANIZATION, BASIS OF PRESENTATION, AND SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details)	3 Months Ended
	Sep. 29, 2019 segment
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of reportable segments	3
Lessee operating lease existence of option to extend [true false]	true
Lessee, operating Lease, existence of option to terminate [true false]	true
Lessee, operating Lease, option to extend or terminate	The Company's lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option.

ORGANIZATION, BASIS OF PRESENTATION, AND SIGNIFICANT ACCOUNTING POLICIES - Summary of Cumulative Effect of Changes Made to Company's Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 29, 2019	Jul. 01, 2019	Jun. 30, 2019
ASSETS
Operating lease assets (Note 8)	$ 942	$ 3,931
CURRENT LIABILITIES:
Accrued expenses and other current liabilities (Note 5)	41,581	41,968	$ 41,421
Long-term liabilities
Operating lease liabilities (Note 8)	$ 613	3,384
ASC 842
CURRENT LIABILITIES:
Accrued expenses and other current liabilities (Note 5)			$ 41,421
ASC 842 \| Adjustments Due to ASC 842
ASSETS
Operating lease assets (Note 8)		3,931
CURRENT LIABILITIES:
Accrued expenses and other current liabilities (Note 5)		547
Long-term liabilities
Operating lease liabilities (Note 8)		$ 3,384

REVENUE RECOGNITION - Summary of Revenues From Contracts with Customers by Major Product Category and Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2019	Sep. 30, 2018
Revenue by Categories
Revenue	$ 109,789	$ 93,641
Boats and trailers
Revenue by Categories
Revenue	105,744	89,499
Parts
Revenue by Categories
Revenue	3,773	3,861
Other
Revenue by Categories
Revenue	272	281
MasterCraft
Revenue by Categories
Revenue	72,913	76,234
MasterCraft \| Boats and trailers
Revenue by Categories
Revenue	69,286	72,376
MasterCraft \| Parts
Revenue by Categories
Revenue	3,432	3,581
MasterCraft \| Other
Revenue by Categories
Revenue	195	277
NauticStar
Revenue by Categories
Revenue	17,995	17,407
NauticStar \| Boats and trailers
Revenue by Categories
Revenue	17,834	17,123
NauticStar \| Parts
Revenue by Categories
Revenue	160	280
NauticStar \| Other
Revenue by Categories
Revenue	1	$ 4
Crest
Revenue by Categories
Revenue	18,881
Crest \| Boats and trailers
Revenue by Categories
Revenue	18,624
Crest \| Parts
Revenue by Categories
Revenue	181
Crest \| Other
Revenue by Categories
Revenue	$ 76

REVENUE RECOGNITION - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 29, 2019	Jun. 30, 2019
Contract liabilities
Customer contract liabilities		$ 0.8
Contract liabilities with customer, revenue recognized during the period	$ 0.7
Accrued Expenses and Other Current Liabilities
Contract liabilities
Customer contract liabilities	$ 1.1

RELATED PARTY TRANSACTIONS - Additional Information (Details) - Crest $ in Millions		3 Months Ended
	Oct. 24, 2019 USD ($)	Sep. 29, 2019 USD ($) item	Jun. 30, 2019 USD ($)
Lease Agreement
Lease term		10 years
Lease expiration date		Sep. 30, 2028
Number of consecutive lease renewal available \| item		4
Term of renewal		5 years
Annual rent, first five years		$ 0.3
Annual rent, remaining five years		0.4
Lease expense		0.1
Parts Supplier
Lease Agreement
Product purchases		0.8
Outstanding balance due		$ 0.2	$ 0.1
Subsequent Event
Lease Agreement
Facility purchased under Purchase Option	$ 4.1

INVENTORIES - Schedule of Inventories (Details) - USD ($) $ in Thousands	Sep. 29, 2019	Jun. 30, 2019
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 21,357	$ 20,034
Work in process	4,931	4,571
Finished goods	9,936	7,207
Obsolescence reserve	(1,310)	(1,152)
Total inventories	$ 34,914	$ 30,660

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 29, 2019	Jul. 01, 2019	Jun. 30, 2019
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Warranty	$ 17,690		$ 17,205
Dealer incentives	7,622		12,623
Current lease liabilities	4,457
Compensation and related accruals	2,456		3,494
Floor plan interest	3,328		2,060
Inventory repurchase contingent obligation	1,259		1,936
Self-insurance	716		606
Debt interest	743		405
Other	3,310		3,092
Total accrued expenses and other current liabilities	$ 41,581	$ 41,968	$ 41,421

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Schedule of Activity Related to Warranty Liabilities Recorded in Accrued Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2019	Sep. 30, 2018
Roll forward of the accrued warranty liability
Beginning balance	$ 17,205	$ 13,077
Provisions	1,999	1,769
Payments made	(2,302)	(2,249)
Aggregate changes for preexisting warranties	788	857
Ending balance	$ 17,690	$ 13,454

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Carrying Amounts of Goodwill (Details) - USD ($) $ in Thousands	Sep. 29, 2019	Jun. 30, 2019
Goodwill [Line Items]
Gross Amount	$ 102,030
Accumulated Impairment Losses	(28,000)
Total	74,030	$ 74,030
MasterCraft
Goodwill [Line Items]
Gross Amount	29,593
Total	29,593
NauticStar
Goodwill [Line Items]
Gross Amount	36,199
Accumulated Impairment Losses	(28,000)
Total	8,199
Crest
Goodwill [Line Items]
Gross Amount	36,238
Total	$ 36,238

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Carrying Amount of Other Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2019	Jun. 30, 2019
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Amortized intangible assets, Gross Amount	$ 39,745	$ 39,745
Amortized intangible assets, Accumulated Amortization / Impairment	(6,934)	(5,946)
Amortized intangible assets, Other intangible assets, net	32,811	33,799
Gross Amount	88,745	88,745
Accumulated Amortization / Impairment	(9,934)	(8,946)
Other intangible assets, net	78,811	79,799
Dealer network
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Amortized intangible assets, Gross Amount	39,500	39,500
Amortized intangible assets, Accumulated Amortization / Impairment	(6,885)	(5,909)
Amortized intangible assets, Other intangible assets, net	32,615	33,591
Software
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Amortized intangible assets, Gross Amount	245	245
Amortized intangible assets, Accumulated Amortization / Impairment	(49)	(37)
Amortized intangible assets, Other intangible assets, net	196	208
Trade names
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Unamortized intangible assets, Gross Amount	49,000	49,000
Unamortized intangible assets, Accumulated Amortization / Impairment	(3,000)	(3,000)
Unamortized intangible assets, Other intangible assets, net	$ 46,000	$ 46,000

GOODWILL AND OTHER INTANGIBLE ASSETS - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2019	Jun. 30, 2019	Sep. 30, 2018
Goodwill [Line Items]
Amortization of intangible assets	$ 1,000		$ 500
Estimated amortization expense June 30,2020	4,000
Trade names
Goodwill [Line Items]
Impairment	$ 3,000	$ 3,000
NauticStar
Goodwill [Line Items]
Goodwill impairment charge		28,000
NauticStar \| Trade names
Goodwill [Line Items]
Impairment		$ 3,000

LONG-TERM DEBT - Schedule of Long-Term Debt Outstanding (Details) - USD ($) $ in Thousands	Sep. 29, 2019	Jun. 30, 2019
Long-term debt
Total debt	$ 113,855	$ 113,741
Less current portion of long-term debt	9,167	9,167
Long-term debt — less current portion	105,121	105,016
Senior Secured Term Loans
Long-term debt
Long-term debt	115,349	115,349
Debt issuance costs on term loans	(1,494)	(1,608)
Less current portion of debt issuance costs on term loans	$ (433)	$ (442)

LONG-TERM DEBT - Senior Secured Credit Facility - Additional Information (Details) - USD ($) $ in Thousands	Oct. 01, 2018	Sep. 29, 2019	Jun. 30, 2019
Long-term debt
Unamortized debt issuance costs		$ 424	$ 451
Revolving Credit Facility
Long-term debt
Outstanding borrowings		0
Net availability under facility		35,000
Unamortized debt issuance costs		400	500
Senior Secured Term Loans
Long-term debt
Unamortized debt issuance costs		$ 1,500	$ 1,600
Fourth Amended Credit Agreement
Long-term debt
Maximum borrowing capacity	$ 190,000
Expiration date	Oct. 01, 2023
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 \| Term Loan One
Long-term debt
Loan commitment	$ 75,000
Fourth Amended Credit Agreement \| Term Loan Two
Long-term debt
Loan commitment	80,000
Fourth Amended Credit Agreement \| Revolving Credit Facility
Long-term debt
Maximum borrowing capacity	$ 35,000

LEASES - Additional Information (Details) - USD ($) $ in Millions		3 Months Ended
	Oct. 24, 2019	Sep. 29, 2019
Lessee Lease Description [Line Items]
Lessee operating lease existence of option to extend [true false]		true
Lessee operating lease option to extend		Certain leases include one or more options to renew, with renewal terms that can extend the lease term from one to five years or more.
Reclassification from operating lease assets to finance lease assets due to exercise of purchase option		$ 2.8
Reclassification from operating lease liabilities to finance lease liabilities due to exercise of purchase option		2.8
Additional finance lease assets due to exercise of purchase option		1.3
Additional finance lease liabilities due to exercise of purchase option		$ 1.3
Weighted-average discount rate, operating lease		4.73%
Weighted-average remaining lease term, operating lease		2 years 9 months 18 days
Total operating cash flows from operating leases		$ 0.2
Crest Facility \| Subsequent Event
Lessee Lease Description [Line Items]
Purchase of facility	$ 4.1
Minimum
Lessee Lease Description [Line Items]
Term of renewal		1 year
Maximum
Lessee Lease Description [Line Items]
Term of renewal		5 years

LEASES - Summary of Company's Lease Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 29, 2019	Jul. 01, 2019
Lease Assets
Finance lease assets	$ 4,115
Operating lease assets	942	$ 3,931
Total lease assets	5,057
Lease Liabilities
Current finance lease liabilities	$ 4,128
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	mcft:AccruedExpensesAndOtherLiabilitiesCurrent
Current operating lease liabilities	$ 329
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	mcft:AccruedExpensesAndOtherLiabilitiesCurrent
Non-current operating lease liabilities	$ 613	$ 3,384
Total lease liabilities	$ 5,070

LEASES - Summary of Company's Total Lease Cost (Details) $ in Thousands	3 Months Ended
	Sep. 29, 2019 USD ($)
Lessee Lease Description [Line Items]
Total lease cost	$ 204
Cost Of Sales
Lessee Lease Description [Line Items]
Operating lease cost	198
General And Administrative
Lessee Lease Description [Line Items]
Operating lease cost	$ 6

LEASES - Summary of Company's Maturity Analysis of Operating Lease Liabilities (Details) $ in Thousands	Sep. 29, 2019 USD ($)
Leases [Abstract]
Remainder of 2020	$ 312
2021	380
2022	303
2023	72
2024	1
Total lease payments	1,068
Less: Interest	(76)
Present value of lease payments	$ 992

LEASES - 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
Thereafter	1,806
Total	$ 4,631

INCOME TAXES - Additional Information (Details)	3 Months Ended
INCOME TAXES - Additional Information (Details)	Sep. 29, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Effective tax rate	24.00%	20.80%
Statutory income tax rate	21.00%

EARNINGS PER SHARE - Factors Used in Earnings Per Share Computation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 29, 2019	Sep. 30, 2018
Earnings Per Share Basic [Line Items]
Net income	$ 8,623	$ 8,465
Weighted average common shares — basic	18,723,845	18,646,039
Weighted average outstanding shares — diluted	18,770,756	18,768,764
Basic earnings per share	$ 0.46	$ 0.45
Diluted earnings per share	$ 0.46	$ 0.45
Stock options
Earnings Per Share Basic [Line Items]
Dilutive effect of assumed exercises of stock options and restricted share awards\units	27,474	52,353
Restricted stock awards
Earnings Per Share Basic [Line Items]
Dilutive effect of assumed exercises of stock options and restricted share awards\units	19,437	70,372

- 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	3 Months Ended
	Sep. 29, 2019	Sep. 30, 2018
Restricted stock awards
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earning per share	56,108	0
Performance stock units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earning per share	42,919	0

SHARE-BASED COMPENSATION - Components of Share-based Compensation Expense by Award Type (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2019	Sep. 30, 2018
Stock-Based Compensation
Share-based compensation expense	$ 512	$ 384
Stock options
Stock-Based Compensation
Share-based compensation expense	9	54
Restricted stock awards
Stock-Based Compensation
Share-based compensation expense	252	202
Performance stock units
Stock-Based Compensation
Share-based compensation expense	$ 251	$ 128

SHARE-BASED COMPENSATION - Restricted Stock Awards - Additional Information (Details) - Restricted stock awards $ / shares in Units, $ in Millions	3 Months Ended
	Sep. 29, 2019 USD ($) $ / shares shares
Stock-Based Compensation
Stock awards granted	79,894
Weighted average grant date value \| $ / shares	$ 18.03
Unrecognized compensation expense \| $	$ 2.0
Weighted average period	2 years 1 month 6 days
Non-executive directors, officers and certain other key employees
Stock-Based Compensation
Stock awards granted	79,894
Officers and certain other key employees
Stock-Based Compensation
Vesting period (in years)	3 years
Non-executive directors
Stock-Based Compensation
Vesting period (in years)	1 year

SHARE-BASED COMPENSATION - Summary of Status of Nonvested Restricted Stock Awards and Changes (Details) - Restricted stock awards	3 Months Ended
	Sep. 29, 2019 $ / shares shares
Nonvested Restricted Shares
Nonvested at beginning of period \| shares	53,804
Granted \| shares	79,894
Vested \| shares	(23,173)
Nonvested at end of period \| shares	110,525
Average Grant-Date Fair Value (Per share)
Nonvested at beginning of period \| $ / shares	$ 22.94
Granted \| $ / shares	18.03
Vested \| $ / shares	20.39
Nonvested at end of period \| $ / shares	$ 19.93

SHARE-BASED COMPENSATION - Performance Stock Units - Additional Information (Details) - Performance stock units $ in Millions	3 Months Ended
	Sep. 29, 2019 USD ($)
Stock-Based Compensation
Unrecognized compensation expense	$ 1.6
Weighted average period	2 years 3 months 18 days
Executive officers and certain other key employees
Stock-Based Compensation
Vesting period (in years)	3 years

SHARE-BASED COMPENSATION - Summary of Status of Nonvested Performance Stock Units and Changes (Details) - Performance stock units	3 Months Ended
	Sep. 29, 2019 $ / shares shares
Nonvested Performance Stock Units
Nonvested at beginning of period \| shares	50,621
Granted \| shares	53,485
Nonvested at end of period \| shares	104,106
Average Grant-Date Fair Value (Per share)
Nonvested at beginning of period \| $ / shares	$ 23.34
Granted \| $ / shares	18.47
Nonvested at end of period \| $ / shares	$ 20.84

SEGMENT INFORMATION - Additional Information (Details)	3 Months Ended
SEGMENT INFORMATION - Additional Information (Details)	Sep. 29, 2019 segment
Segment Reporting [Abstract]
Number of operating segments	3
Number of reportable segments	3

SEGMENT INFORMATION - Schedule of Operating Information for Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Jun. 30, 2019
Segment Reporting Information [Line Items]
Net sales	$ 109,789	$ 93,641
Operating income	12,697	11,611
Depreciation and amortization	2,371	1,435
Purchases of property and equipment	4,328	3,425
Total assets	257,234		$ 248,773
Eliminations
Segment Reporting Information [Line Items]
Total assets	(163,013)		(163,013)
MasterCraft
Segment Reporting Information [Line Items]
Net sales	72,913	76,234
Operating income	12,207	11,530
Depreciation and amortization	1,020	805
Purchases of property and equipment	2,733	2,735
MasterCraft \| Operating Segments
Segment Reporting Information [Line Items]
Total assets	279,370		273,046
NauticStar
Segment Reporting Information [Line Items]
Net sales	17,995	17,407
Operating income	27	81
Depreciation and amortization	801	630
Purchases of property and equipment	819	$ 690
NauticStar \| Operating Segments
Segment Reporting Information [Line Items]
Total assets	52,911		52,761
Crest
Segment Reporting Information [Line Items]
Net sales	18,881
Operating income	463
Depreciation and amortization	550
Purchases of property and equipment	776
Crest \| Operating Segments
Segment Reporting Information [Line Items]
Total assets	$ 87,966		$ 85,979