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Quarterly Financial Information (Unaudited)
12 Months Ended
Dec. 31, 2012
Quarterly Financial Information (Unaudited)

NOTE 14: QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

 

(In Thousands, Except Per Share)

   First Quarter      Second Quarter      Third Quarter      Fourth Quarter  

Year Ended December 31, 2012

           

Revenues

   $ 585,996       $ 538,619       $ 529,510       $ 568,463   

Gross Profit *

     282,657         265,573         258,637         263,278   

Earnings Before Taxes From Continuing Operations

     115,029         58,590         46,044         57,192   

Net Earnings

     71,226         36,244         28,941         36,632   

Earnings Per Share

     .94         .48         .38         .48   

Earnings Per Share Assuming Dilution

     .92         .47         .38         .48   

Year Ended December 31, 2011

           

Revenues

   $ 532,480       $ 482,415       $ 484,731       $ 522,705   

Gross Profit *

     259,542         236,958         231,942         242,163   

Earnings Before Taxes From Continuing Operations

     71,919         17,627         45,092         48,739   

Net Earnings

     44,389         10,799         28,045         30,534   

Earnings Per Share

     .55         .14         .36         .40   

Earnings Per Share Assuming Dilution

     .55         .13         .36         .40   

 

* Gross profit is the sum of lease revenues and fees, retail sales, and non-retail sales less retail cost of sales, non-retail cost of sales, depreciation of lease merchandise and write-offs of lease merchandise.

The first quarter of 2012 included a pre-tax $35.5 million reversal of a lawsuit accrual, and the third quarter of 2012 included a pre-tax $10.4 million retirement charge associated with the retirement of the Company’s founder and former Chairman of the Board. The second quarter of 2011 included a pre-tax $36.5 million accrual of a lawsuit, and the fourth quarter of 2011 included a pre-tax $3.5 million separation charge related to the Company’s former Chief Executive Officer.

Revenue amounts for all quarterly periods prior to the third quarter of 2012 have been revised to exclude interest income, which is now presented as a component of non-operating income and expenses in the consolidated statements of earnings.