| Quarterly Financial Data (Unaudited) |
Quarterly Financial Data (Unaudited)
Quarterly financial data for fiscal 2015 and fiscal 2014 is as follows:
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Year Ended August 31, 2015 |
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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 |
Net sales |
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$ |
327,765 |
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$ |
301,005 |
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$ |
320,100 |
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$ |
300,384 |
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$ |
1,249,254 |
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Gross profit |
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126,976 |
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109,763 |
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118,560 |
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106,542 |
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461,841 |
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Net earnings (loss) |
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24,674 |
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(64,838 |
) |
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37,958 |
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22,078 |
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19,872 |
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Net earnings (loss) per share: |
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Basic |
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$ |
0.38 |
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$ |
(1.05 |
) |
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$ |
0.64 |
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$ |
0.37 |
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$ |
0.32 |
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Diluted |
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0.38 |
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(1.05 |
) |
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0.63 |
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0.37 |
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0.32 |
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Year Ended August 31, 2014 |
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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 |
Net sales |
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$ |
339,556 |
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$ |
327,770 |
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$ |
378,187 |
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$ |
354,349 |
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$ |
1,399,862 |
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Gross profit |
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131,780 |
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124,447 |
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148,550 |
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142,095 |
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546,872 |
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Earnings from continuing operations |
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33,005 |
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22,304 |
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50,557 |
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35,587 |
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141,453 |
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Earnings from discontinued operations |
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3,032 |
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19,088 |
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— |
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— |
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22,120 |
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Net earnings |
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36,037 |
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41,392 |
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50,557 |
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35,587 |
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163,573 |
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Earnings from continuing operations per share: |
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Basic |
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$ |
0.45 |
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$ |
0.31 |
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$ |
0.72 |
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$ |
0.52 |
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$ |
1.99 |
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Diluted |
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0.44 |
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0.30 |
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0.70 |
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0.51 |
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1.95 |
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Earnings from discontinued operations per share: |
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Basic |
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$ |
0.04 |
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$ |
0.26 |
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$ |
— |
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$ |
— |
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$ |
0.32 |
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Diluted |
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0.04 |
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0.26 |
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— |
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— |
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0.32 |
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Net earnings per share: |
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Basic |
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$ |
0.49 |
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$ |
0.57 |
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$ |
0.72 |
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$ |
0.52 |
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$ |
2.31 |
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Diluted |
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0.48 |
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0.56 |
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0.70 |
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0.51 |
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2.26 |
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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.
During the second quarter of fiscal 2015 the Company recognized a $84.4 million non-cash impairment charge related to the goodwill and intangible assets of the Energy segment (see Note 4, "Goodwill and Other Intangible Assets").
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