| Quarterly Financial Information (Unaudited) |
Quarterly Financial Information (Unaudited)
Summarized quarterly financial information for fiscal 2013 and 2012 is as follows (in thousands, except earnings per share data): | | | | | | | | | | | | | | | | | | Fiscal 2013 | | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter | Net sales | $ | 1,333,701 |
| | $ | 1,531,431 |
| | $ | 1,400,623 |
| | $ | 1,947,418 |
| Gross profit | 411,654 |
| | 479,330 |
| | 424,899 |
| | 628,067 |
| Income from operations (1) | 97,617 |
| | 137,095 |
| | 79,053 |
| | 223,048 |
| Net income (1) | 64,821 |
| (2) | 84,163 |
| (3) | 49,977 |
| | 138,638 |
| Earnings per common share: | | | | | | | | Basic | $ | 0.53 |
| | $ | 0.68 |
| | $ | 0.41 |
| | $ | 1.13 |
| Diluted | $ | 0.52 |
| | $ | 0.67 |
| | $ | 0.40 |
| | $ | 1.11 |
| Weighted average common shares outstanding: | | | | | | | | Basic | 122,702 |
| | 122,901 |
| | 123,221 |
| | 122,687 |
| Diluted | 125,862 |
| | 125,593 |
| | 125,842 |
| | 125,214 |
| | | | | | | | |
| | | | | | | | | | | | | | | | | | Fiscal 2012 | | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter (4) | Net sales | $ | 1,281,704 |
| | $ | 1,437,041 |
| | $ | 1,312,072 |
| | $ | 1,805,302 |
| Gross profit | 394,607 |
| | 447,780 |
| | 406,124 |
| | 588,652 |
| Income from operations | 95,735 |
| | 134,640 |
| | 82,193 |
| | 211,106 |
| Net income (1) | 57,157 |
| | 53,663 |
| (5) | 50,139 |
| | 129,749 |
| Earnings per common share: | | | | | | | | Basic | $ | 0.47 |
| | $ | 0.45 |
| | $ | 0.41 |
| | $ | 1.06 |
| Diluted | $ | 0.45 |
| | $ | 0.43 |
| | $ | 0.40 |
| | $ | 1.03 |
| Weighted average common shares outstanding: | | | | | | | | Basic | 121,514 |
| | 119,928 |
| | 122,103 |
| | 122,875 |
| Diluted | 127,003 |
| | 124,533 |
| | 125,938 |
| | 126,409 |
| | | | | | | | |
| | (1) | Quarterly results for fiscal 2013 and 2012 do not add to full year results due to rounding. |
| | (2) | Includes the partial recovery of a previously impaired asset of $4.3 million. |
| | (3) | Includes asset impairment charge of $4.7 million. |
| | (4) | Fourth quarter of fiscal 2012 represents a 14 week period, as fiscal 2012 includes 53 weeks. |
| | (5) | Includes impairment of available-for-sale investments of $27.6 million. |
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