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Quarterly Data and Share Information (Unaudited)
 12 Months Ended
Jan. 03, 2021
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Data and Share Information (Unaudited) QUARTERLY DATA AND SHARE INFORMATION (UNAUDITED)
 
The following tables set forth, for the fiscal periods indicated, selected consolidated financial data and information regarding the market price per share of the Company’s Common Stock. The prices represent the reported high and low sale prices during the period presented.
 
 FISCAL YEAR 2020
 
FIRST
QUARTER(1)
SECOND
QUARTER(2)
THIRD
QUARTER(3)
FOURTH
QUARTER(4)
 (in thousands, except per share data)
Net sales$288,169 $259,504 $278,642 $276,947 
Gross profit114,311 97,294 102,162 96,807 
Net income (loss)(102,167)4,709 5,913 19,616 
 
Basic income (loss) per share$(1.75)$0.08 $0.10 $0.33 
Diluted income (loss) per share$(1.75)$0.08 $0.10 $0.33 
 
Share prices    
High$17.57 $11.04 $8.94 $10.53 
Low$5.06 $6.77 $5.88 $5.92 

(1)Results for the first quarter of 2020 include purchase accounting amortization of $1.3 million, goodwill and intangible asset impairment charge of $121.3 million, impact of change in equity award forfeiture accounting of $1.4 million, and restructuring charges of $(1.1) million.
(2)Results for the second quarter of 2020 include purchase accounting amortization of $1.3 million, severance, lease exit and asset impairment charges of $8.8 million, and a warehouse fire loss of $4.2 million.
(3)Results for the third quarter of 2020 include purchase accounting amortization of $1.4 million, severance charges and restructuring adjustments of $5.8 million, and an SEC fine of $5.0 million.
(4)Results for the fourth quarter of 2020 include purchase accounting amortization of $1.4 million, severance, lease exit, restructuring adjustments and asset impairment charges of $3.2 million, loss on extinguishment of debt of $3.6 million, loss on discontinuance of interest rate swaps of $3.9 million, and recognition of income tax benefits related to uncertain tax positions taken in prior years of $12.7 million.
 FISCAL YEAR 2019
 
FIRST
QUARTER(1)
SECOND
QUARTER(2)
THIRD
QUARTER(3)
FOURTH
QUARTER(4)
 (in thousands, except per share data)
Net sales$297,688 $357,507 $348,352 $339,482 
Gross profit(5)
116,522 140,730 137,744 137,971 
Net income7,059 29,499 26,210 16,432 
 
Basic income per share$0.12 $0.50 $0.45 $0.28 
Diluted income per share$0.12 $0.50 $0.45 $0.28 
 
Share prices    
High$19.40 $17.22 $15.84 $17.68 
Low$13.87 $14.30 $10.37 $13.32 
 
(1)Results for the first quarter of 2019 include purchase accounting amortization of $1.9 million.
(2)Results for the second quarter of 2019 include purchase accounting amortization of $1.3 million.
(3)Results for the third quarter of 2019 include purchase accounting amortization of $1.3 million and restructuring and other charges of $0.7 million.
(4)Results for the fourth quarter of 2019 include purchase accounting amortization of $1.3 million and restructuring and other charges of $12.3 million.
(5)Gross profit reflects certain classification and presentation changes related to customer service and other costs. Reclassifications of previously reported cost of sales to conform to the current presentation were $1.1 million for the first quarter, $2.1 million for the second quarter, $2.0 million for the third quarter and $2.3 million for the fourth quarter. See Note 1 entitled “Summary of Significant Accounting Policies” for additional information.