| Quarterly Financial Data (Unaudited) |
Note
19. Quarterly Financial Data
(Unaudited)
Quarterly
financial data for fiscal 2012 and fiscal 2011 is as
follows:
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Year Ended
August 31, 2012 |
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First |
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Second |
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Third |
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Fourth |
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Total |
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Net sales
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$ |
392,799 |
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$ |
378,024 |
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$ |
429,215 |
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$ |
405,304 |
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$ |
1,605,342 |
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Gross profit
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152,608 |
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141,292 |
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166,120 |
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157,351 |
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617,371 |
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Net earnings
(loss)
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37,174 |
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32,175 |
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34,401 |
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(16,460 |
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87,290 |
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Net earnings (loss) per
share:
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Basic
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$ |
0.54 |
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$ |
0.47 |
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$ |
0.48 |
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$ |
(0.23 |
) |
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$ |
1.25 |
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Diluted
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0.50 |
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0.43 |
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0.45 |
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(0.23 |
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1.17 |
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Year Ended
August 31, 2011 |
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First |
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Second |
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Third |
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Fourth |
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Total |
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Net sales
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$ |
318,412 |
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$ |
330,698 |
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$ |
392,777 |
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$ |
403,436 |
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$ |
1,445,323 |
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Gross profit
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121,853 |
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125,027 |
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154,038 |
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154,981 |
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555,899 |
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Earnings from continuing
operations
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26,661 |
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22,142 |
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38,360 |
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37,333 |
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124,496 |
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Earnings (loss) from
discontinued operations
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(771 |
) |
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(14,213 |
) |
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(2,002 |
) |
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4,049 |
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(12,937 |
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Net earnings
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25,890 |
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7,929 |
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36,358 |
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41,382 |
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111,559 |
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Earnings from continuing
operations per share:
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Basic
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$ |
0.39 |
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$ |
0.32 |
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$ |
0.56 |
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$ |
0.55 |
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$ |
1.82 |
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Diluted
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0.36 |
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0.30 |
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0.51 |
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0.50 |
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1.68 |
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Earnings (loss) from
discontinued operations per share:
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Basic
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$ |
(0.01 |
) |
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$ |
(0.20 |
) |
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$ |
(0.03 |
) |
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$ |
0.06 |
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$ |
(0.19 |
) |
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Diluted
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(0.01 |
) |
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(0.19 |
) |
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(0.02 |
) |
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0.05 |
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(0.18 |
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Net Earnings per
share:
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Basic
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$ |
0.38 |
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$ |
0.12 |
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$ |
0.53 |
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$ |
0.61 |
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$ |
1.63 |
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Diluted
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0.35 |
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0.11 |
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0.49 |
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0.55 |
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1.50 |
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The sum of the
quarters may not equal the total of the respective year’s
earnings per share on either a basic or diluted basis due to
changes in the weighted average shares outstanding during the
year.
Fourth quarter
fiscal 2012 net loss includes a $62.5 million non-cash impairment
charge related to the goodwill and indefinite lived intangibles of
the Mastervolt business (see Note 6, “Impairment
Charges”).
Approximately
$1.1 million of expense and $4.1 million of income related to
discontinued operations were recorded in the third and fourth
quarters of fiscal 2011, respectively, to correct immaterial errors
that should have been recorded in the second quarter of fiscal
2011.
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