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Quarterly Operating Results (Tables)
12 Months Ended
Sep. 30, 2018
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Operating Results
The following table presents unaudited selected quarterly financial data for the years ended September 30, 2018 and September 30, 2017. The operating results for any quarter are not necessarily indicative of the results of any future period.
 
Three Months Ended
(in thousands, except per share data)
December 29, 2017
(3)
 
March 30, 2018
(4)
 
June 29, 2018
 
September 30, 2018
(5)
 
December 30, 2016 As Adjusted ** (1)
 
March 31, 2017 As Adjusted **
(2)
 
June 30, 2017 As Adjusted **
 
September 30, 2017 As Adjusted **
Net sales
$
414,558

 
$
445,000

 
$
498,014

 
$
477,567

 
$
337,591

 
$
372,791

 
$
397,745

 
$
395,807

Gross profit
96,867

 
109,157

 
120,329

 
111,731

 
91,665

 
87,609

 
92,485

 
89,513

Net income
27,189

 
42,558

 
34,199

 
32,699

 
17,382

 
18,935

 
27,465

 
20,857

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income per share
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic (6)
$
0.43

 
$
0.83

 
$
0.73

 
$
0.69

 
$
0.28

 
$
0.30

 
$
0.43

 
$
0.33

Diluted (6)
0.41

 
0.79

 
0.70

 
0.66

 
0.26

 
0.28

 
0.41

 
0.31

 
**As adjusted due to the adoption of ASU 2017-07. See Note 1, ''Basis of Presentation and Summary of Significant Accounting Policies'' for additional information.
(1) Includes a $9,805 loss on the extinguishment of the Initial First Lien Term Loan Facility and the Second Lien Term Loan Facility. See Note 14, "Debt."
(2) Includes $5,774 pre-tax gain on sale of Abahsain-Cope Saudi Arabia Ltd joint venture and $7,501 pre-tax expense related to the Antidumping Duty Order for Malleable Iron Pipe Fittings. See Note 16, "Commitments and contingencies" for additional information
(3) Includes a $4,758 benefit due to the re-measurement of deferred tax liabilities as a result of the TCJA. See Note 8, "Income taxes" for additional information.
(4) Includes $26,737 pre-tax gain on the sale of Flexhead. The Company recorded an additional working capital adjustment to the assets sold, which increased the gain by $838, in the quarter ending June 29, 2018. See Note 3, "Divestitures" for additional information.
(5) Includes $7,171 pre- tax reversal of expense related to the Antidumping Duty Order for Malleable Iron Pipe Fittings. See Note 16, Commitments and contingencies" for additional information.
(6) The sum of the quarters may not equal the total of the respective year's earnings per share due to changes in the weighted average shares outstanding throughout the year.