Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Oct. 03, 2020

The following is summarized quarterly financial data for fiscal 2020 and 2019 (in thousands, except per share amounts):


2020	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total
Net sales	$	852,409	$	767,364	$	857,394	$	913,227	$	3,390,394
Gross profit	79,190		61,445		82,881		89,190		312,706
Net income (2,3)	31,006		12,926		35,842		37,705		117,479
Earnings per share (1):
Basic	1.06		0.44		1.23		1.29		4.02
Diluted (7)	1.03		0.43		1.20		1.26		$	3.93

2019	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total
Net sales	$	765,544	$	789,051	$	799,644	$	810,195	$	3,164,434
Gross profit	72,383		70,636		71,030		77,789		291,838
Net income (4,5,6)	22,226		24,758		24,801		36,831		108,616
Earnings per share (1):
Basic	0.71		0.81		0.83		1.26		3.59
Diluted (8)	0.69		0.79		0.81		1.23		3.50

(1) The annual total amounts may not equal the sum of the quarterly amounts due to rounding. Earnings per share is computed independently for each quarter and annually.

(2) The first quarter of fiscal 2020 results included $1.9 million in tax benefits related to U.S. foreign tax credit regulations issued during the quarter, partially offset by $1.1 million of tax expense as a result of special tax items.

(3) The second quarter of fiscal 2020 results included restructuring and impairment charges of $6.0 million, or $5.4 million net of taxes, in the AMER operating segment due to the closure of the Boulder Design Center.

(4) The first quarter of fiscal 2019 results included $7.0 million of tax expense as a result of new regulations issued under U.S. Tax Reform. These regulations impacted the treatment of foreign taxes paid.

(5) The fourth quarter of fiscal 2019 results included restructuring charges of $1.7 million, or $1.5 million net of taxes, in the AMER operating segment.

(6) The fourth quarter of fiscal 2019 results included a benefit of $10.5 million due to the permanent reinvestment assertion of certain historical undistributed earnings of two foreign subsidiaries.

(7) The first quarter of fiscal 2020 included $0.03 per share tax benefit resulting from special tax items. The second quarter of fiscal 2020 included $0.18 per share of expense related to restructuring costs.

(8) The first quarter of fiscal 2019 included $0.23 per share of tax expense as a result of U.S. Tax Reform. The fourth quarter of fiscal 2019 included $0.05 per share of expense related to restructuring costs and $0.35 per share tax benefit resulting from the permanent reinvestment assertion of certain historical undistributed earnings of two foreign subsidiaries.