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Quarterly Financial Data (Notes)
 12 Months Ended
Jul. 30, 2016
Quarterly Financial Data [Abstract]  
Quarterly Financial Information
Quarterly Financial Data (Unaudited)

In the opinion of management, the following unaudited quarterly data from fiscal 2016 and 2015 reflect all adjustments (consisting of normal recurring accruals), which are necessary to present a fair presentation of amounts shown for such periods (the sum of the quarterly results may not equal the reported annual amounts due to rounding). The earnings per common share calculation for each quarter is based on the weighted average shares of common stock outstanding plus the dilutive effect of stock options and restricted share units, if any.
Fiscal 2016(2):
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter(1)
 
(Dollars in thousands, except per share amounts)
Revenues
$
659,268

 
$
559,470

 
$
664,645

 
$
789,159

Costs of earned revenues, excluding depreciation and amortization
$
506,978

 
$
450,284

 
$
520,408

 
$
605,909

Gross profit
$
152,290

 
$
109,186

 
$
144,237

 
$
183,250

Net income
$
30,824

 
$
15,473

 
$
33,083

 
$
49,360

Earnings per common share - Basic
$
0.94

 
$
0.47

 
$
1.02

 
$
1.57

Earnings per common share - Diluted
$
0.91

 
$
0.46

 
$
1.00

 
$
1.54


(1) The Company uses a fiscal year ending on the last Saturday in July. As a result, each fiscal year consists of either 52 weeks or 53 weeks of operations (with the additional week of operations occurring in the fourth quarter). Fiscal 2016 consisted of 53 weeks with 14 weeks of operations during the fourth quarter, compared to fiscal 2015 which consisted of 52 weeks with 13 weeks of operations during the fourth quarter.

(2) During the first quarter of fiscal 2016, the Company incurred a pre-tax charge of approximately $16.3 million for early extinguishment of debt in connection with the redemption of the Company’s 7.125% senior subordinated notes. In addition, the Company incurred $14.7 million of interest expense during fiscal 2016 for the non-cash amortization of the debt discount associated with the Company’s 0.75% convertible senior notes due September 2021, issued in September 2015. See Note 10, Debt, for additional information regarding the Company’s debt transactions.

Fiscal 2015:
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
(Dollars in thousands, except per share amounts)
Revenues
$
510,389

 
$
441,081

 
$
492,363

 
$
578,479

Costs of earned revenues, excluding depreciation and amortization
$
403,468

 
$
355,429

 
$
388,239

 
$
446,114

Gross profit
$
106,921

 
$
85,652

 
$
104,124

 
$
132,365

Net income
$
20,807

 
$
9,432

 
$
20,258

 
$
33,827

Earnings per common share - Basic
$
0.61

 
$
0.28

 
$
0.59

 
$
1.00

Earnings per common share - Diluted
$
0.59

 
$
0.27

 
$
0.58

 
$
0.97