XML 55 R28.htm IDEA: XBRL DOCUMENT v3.7.0.1
Quarterly Results of Operations (Unaudited)
 12 Months Ended
May 31, 2017
Quarterly Results of Operations (Unaudited)

Note T – Quarterly Results of Operations (Unaudited)

The following table summarizes the unaudited quarterly consolidated results of operations for fiscal 2017 and fiscal 2016:

 

(in thousands, except per share)    Three Months Ended  
Fiscal 2017    August 31      November 30      February 28      May 31  

Net sales

    $ 737,549      $ 727,780      $ 703,436      $ 845,343  

Gross margin

      147,282        122,803        110,990        154,830  

Net earnings

      68,536        49,867        38,951        60,583  

Net earnings attributable to controlling interest

      65,567        46,565        35,889        56,494  

Earnings per share – basic

    $ 1.06      $ 0.75      $ 0.57      $ 0.90  

Earnings per share – diluted

    $ 1.02      $ 0.72      $ 0.55      $ 0.87  
Fiscal 2016    August 31      November 30      February 29      May 31  

Net sales

    $ 758,147      $ 699,816      $ 647,080      $ 714,671  

Gross margin

      113,016        109,179        95,923        134,475  

Impairment of long-lived assets (1)

      3,000        22,962        -        -  

Net earnings (2)

      34,995        25,752        34,143        62,738  

Net earnings attributable to controlling interest (2)

      31,968        23,376        29,847        58,523  

Earnings per share – basic (2)

    $ 0.50      $ 0.37      $ 0.48      $ 0.95  

Earnings per share – diluted (2)

    $ 0.48      $ 0.36      $ 0.47      $ 0.92  

 

(1)

For additional information regarding the Company’s impairment activity, refer to “Note C – Goodwill and Other Long-Lived Assets.”

 

(2)

Amounts are presented on a revised basis due to the adoption of amended accounting guidance related to the accounting for share-based payments in the fourth quarter of fiscal 2016. As a result of the adoption of this amended accounting guidance, net earnings and net earnings attributable to controlling interest for the three month periods ended August 31, 2015, November 30, 2015 and February 29, 2016 increased $558,000, $136,000 and $271,000, respectively, from the previously reported results.

 

The sum of the quarterly earnings per share data presented in the table may not equal the annual results due to rounding and the impact of dilutive securities on the annual versus the quarterly earnings per share calculations.