The following table summarizes quarterly financial results in fiscal 2014 and 2013. In our opinion, all adjustments necessary to present fairly the information for such quarters have been reflected (dollars in thousands, except per share data):


	For the Year Ended April 30, 2014
	First Quarter			Second Quarter			Third Quarter		Fourth Quarter		Full Year
Net sales	$	171,020		$	139,294		$	145,881	$	170,425	$	626,620
Gross profit		72,773			57,937			58,651		69,744		259,105
Income from continuing operations, net of tax		26,526			17,145			20,057		24,899		88,627
Income/(loss) from discontinued operations, net of tax		(49	)		(158	)		728		157		678
Net income	$	26,477		$	16,987		$	20,785	$	25,056	$	89,305
Per common share
Basic — continuing operations	$	0.41		$	0.29		$	0.36	$	0.45	$	1.51
Diluted — continuing operations	$	0.40		$	0.28		$	0.35	$	0.44	$	1.47
Basic — net income	$	0.41		$	0.28		$	0.37	$	0.45	$	1.52
Diluted — net income	$	0.40		$	0.28		$	0.36	$	0.44	$	1.49
Market price (low-high)	$	8.53-11.96		$	10.25-13.38		$	10.76-15.56	$	11.31-15.70	$	8.53-15.70



	For the Year Ended April 30, 2013
	First Quarter			Second Quarter		Third Quarter			Fourth Quarter			Full Year
Net sales	$	135,995		$	136,560	$	136,242		$	178,717		$	587,514
Gross profit		51,227			48,468		49,932			68,445	(a)		218,072
Income from continuing operations, net of tax		18,869			16,401		17,506			28,630			81,406
Income/(loss) from discontinued operations, net of tax		(1,083	)		4,784		(2,930	)		(3,464	)		(2,693	)
Net income	$	17,787		$	21,184	$	14,576		$	25,166		$	78,713
Per common share
Basic — continuing operations	$	0.29		$	0.25	$	0.27		$	0.45		$	1.25
Diluted — continuing operations	$	0.28		$	0.24	$	0.26		$	0.44		$	1.22
Basic — net income	$	0.27		$	0.32	$	0.22		$	0.39		$	1.21
Diluted — net income	$	0.27		$	0.31	$	0.22		$	0.38		$	1.18
Market price (low-high)	$	6.07-10.25		$	7.40-11.24	$	7.67-11.25		$	8.25-10.63		$	6.07-11.25

(a)	Gross profit for the fourth fiscal quarter included a $3.0 million adjustment for the recall of our Thompson/Center Arms bolt action rifles.