Quarterly Financial Information (Unaudited) |
Quarterly Financial Information (Unaudited) Selected quarterly financial information is as follows for the fiscal years ended: | | | | | | | | | | | | | | | | | | | | | | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter(1)(2) | | Year | | (In thousands, except per share data) | December 29, 2013 | | | | | | | | | | Revenue | $ | 505,378 |
| | $ | 543,297 |
| | $ | 524,277 |
| | $ | 593,280 |
| | $ | 2,166,232 |
| Gross profit | 224,885 |
| | 242,299 |
| | 233,512 |
| | 276,278 |
| | 976,974 |
| Restructuring and contract termination charges, net | 3,310 |
| | 19,277 |
| | 1,126 |
| | 10,215 |
| | 33,928 |
| Operating income from continuing operations | 35,901 |
| | 39,664 |
| | 57,196 |
| | 84,681 |
| | 217,442 |
| Income from continuing operations before income taxes | 23,861 |
| | 26,799 |
| | 44,856 |
| | 57,816 |
| | 153,332 |
| Income from continuing operations | 32,289 |
| | 26,936 |
| | 40,299 |
| | 68,400 |
| | 167,924 |
| Net income | 32,216 |
| | 27,925 |
| | 40,198 |
| | 66,873 |
| | 167,212 |
| Basic earnings per share: | | | | | | | | | | Income from continuing operations | $ | 0.28 |
| | $ | 0.24 |
| | $ | 0.36 |
| | $ | 0.61 |
| | $ | 1.50 |
| Net income | 0.28 |
| | 0.25 |
| | 0.36 |
| | 0.60 |
| | 1.49 |
| Diluted earnings per share: | | | | | | | | | | Income from continuing operations | $ | 0.28 |
| | $ | 0.24 |
| | $ | 0.36 |
| | $ | 0.60 |
| | $ | 1.48 |
| Net income | 0.28 |
| | 0.25 |
| | 0.36 |
| | 0.59 |
| | 1.47 |
| Cash dividends declared per common share | 0.07 |
| | 0.07 |
| | 0.07 |
| | 0.07 |
| | 0.28 |
| | | | | | | | | | | December 30, 2012 | | | | | | | | | | Revenue | $ | 510,890 |
| | $ | 521,790 |
| | $ | 509,604 |
| | $ | 572,921 |
| | $ | 2,115,205 |
| Gross profit | 232,014 |
| | 238,794 |
| | 230,740 |
| | 261,658 |
| | 963,206 |
| Restructuring and contract termination charges, net | 6,159 |
| | 5,203 |
| | 9,672 |
| | 4,103 |
| | 25,137 |
| Operating income from continuing operations | 36,382 |
| | 49,787 |
| | 43,218 |
| | (30,844 | ) | | 98,543 |
| Income (loss) from continuing operations before income taxes | 23,552 |
| | 38,429 |
| | 31,346 |
| | (42,740 | ) | | 50,587 |
| Income (loss) from continuing operations | 22,076 |
| | 33,568 |
| | 28,989 |
| | (16,192 | ) | | 68,441 |
| Net income (loss) | 22,569 |
| | 33,633 |
| | 29,594 |
| | (15,856 | ) | | 69,940 |
| Basic earnings per share: | | | | | | | | | | Income (loss) from continuing operations | $ | 0.20 |
| | $ | 0.30 |
| | $ | 0.25 |
| | $ | (0.14 | ) | | $ | 0.60 |
| Net income (loss) | 0.20 |
| | 0.30 |
| | 0.26 |
| | (0.14 | ) | | 0.61 |
| Diluted earnings per share: | | | | | | | | | | Income (loss) continuing operations | $ | 0.19 |
| | $ | 0.29 |
| | $ | 0.25 |
| | $ | (0.14 | ) | | $ | 0.60 |
| Net income (loss) | 0.20 |
| | 0.29 |
| | 0.26 |
| | (0.14 | ) | | 0.61 |
| Cash dividends declared per common share | 0.07 |
| | 0.07 |
| | 0.07 |
| | 0.07 |
| | 0.28 |
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____________________________ | | (1) | The fourth quarter of fiscal year 2013 includes pre-tax income of $17.6 million as a result of the mark-to-market adjustment on postretirement benefit plans. See Note 1 for a discussion of this accounting policy. The fourth quarter of fiscal year 2013 also includes pre-tax impairment charges of $6.7 million as the carrying amounts of certain long-lived assets were not recoverable and exceeded their fair value. The fourth quarter of fiscal year 2013 also includes a tax benefit of $9.2 million related to discrete items primarily for lapses in statues of limitations and audit settlements. |
| | (2) | The fourth quarter of fiscal year 2012 includes a pre-tax loss of $31.8 million as a result of the mark-to-market adjustment on postretirement benefit plans. See Note 1 for a discussion of this accounting policy. The fourth quarter of fiscal year 2012 also includes pre-tax impairment charges of $74.2 million as a result of a review of certain trade names within the Company's portfolio as part of a realignment of its marketing strategy. |
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