Quarterly Financial Information (Unaudited)

12 Months Ended

Mar. 31, 2012

Quarterly Financial Information (Unaudited)

25. Quarterly Financial Information (Unaudited)


(In thousands, except per share data)	1^st Quarter			2^nd Quarter			3^rd Quarter			4^th Quarter
Year ended March 31, 2012
Net sales	$	77,046		$	81,884		$	49,807		$	45,492
Gross profit¹		33,760			35,941			21,161			16,829
Net operating expenses^{2, 3, 4}		28,280			25,626			25,285			27,305
Provision for (benefit from) income taxes		2,159			1,372			(2,196	)		(2,752	)
Net income (loss)⁵		5,913			8,537			(1,881	)		(7,665	)
Basic net income (loss) per share		0.21			0.30			(0.07	)		(0.26	)
Diluted net income (loss) per share		0.20			0.29			(0.07	)		(0.26	)
Dividends per outstanding common share
Declared	$	—		$	—		$	0.08		$	—
Paid	$	—		$	—		$	—		$	0.08

Year ended April 2, 2011
Net sales	$	58,471		$	59,554		$	67,209		$	71,577
Gross profit		21,473			26,001			30,027			31,448
Net operating expenses⁶		23,056			25,263			27,520			25,682
(Benefit from) provision for income taxes		(1,726	)		1,536			117			463
Net income (loss)⁷		201			(611	)		2,351			5,993
Basic net income (loss) per share		0.01			(0.02	)		0.08			0.21
Diluted net income (loss) per share		0.01			(0.02	)		0.08			0.21

The sum of the quarterly data presented in the table above for fiscal 2012 and 2011 may not equal annual results due to rounding.

1.	In the fourth quarter of 2012, gross profit included $2.0 million of charges for an inventory write-off.

2.	In the fourth quarter of 2012, net operating expenses included $2.9 million in restructuring costs and $1.0 million in loss of disposal of assets.

3.	In the third quarter of 2012, net operating expenses included $0.9 million in restructuring costs.

4.	In the first quarter of 2012, net operating expenses included $0.6 million in legal settlement costs.

5.	In the first quarter of 2012, net income included a gain of $2.7 million related to a sale of previously impaired auction rate securities.

6.	In the third quarter of 2011, net operating expenses included $1.4 million in legal settlement costs and $0.8 million in restructuring costs.

7.	In the fourth quarter of 2011, net income included a gain of $0.7 million related to a sale of previously impaired auction rate securities.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details