Interim financial information for fiscal years 2016 and 2015 is as follows (in thousands, except per share amounts):



Fiscal year 2016:
Quarter ended:	April 30 ⁽¹⁾		July 31 ⁽¹⁾⁽²⁾		October 31 ⁽¹⁾		January 31 ⁽¹⁾⁽²⁾
Net sales	$	5,887,229	$	6,580,393	$	6,428,540	$	7,483,621
Gross profit	291,889		325,279		314,844		354,649
Operating income	81,938		106,235		68,053		145,202
Net income	$	51,277	$	76,412	$	41,900	$	96,147

Net income per share:
Basic	$	1.39	$	2.09	$	1.19	$	2.74
Diluted	$	1.38	$	2.09	$	1.18	$	2.72



Fiscal year 2015:
Quarter ended:	April 30 ⁽³⁾		July 31 ⁽³⁾⁽⁴⁾		October 31⁽³⁾⁽⁵⁾		January 31 ⁽³⁾⁽⁶⁾
Net sales	$	6,728,151	$	6,841,809	$	6,761,181	$	7,339,491
Gross profit	335,328		351,372		334,985		372,269
Operating income	31,496		67,710		66,745		101,684
Net income	$	13,467	$	39,328	$	41,700	$	80,677

Net income per share:
Basic	$	0.35	$	1.03	$	1.09	$	2.12
Diluted	$	0.35	$	1.03	$	1.09	$	2.11


(1)	During the first, second, third and fourth quarters of fiscal 2016, the Company recorded a gain of $38.5 million, $21.5 million, $3.0 million and $35.4 million related to LCD Settlements, net, respectively (see further discussion in Note 1 - Business and Summary of Significant Accounting Policies).


(2)	The Company recorded a net benefit of $9.6 million in the second quarter and an expense of $0.8 million in the fourth quarter of fiscal 2016 related to various VAT matters in two European subsidiaries (see further discussion in Note 13 – Commitments & Contingencies).


(3)	During the first, second, third and fourth quarters of fiscal 2015, the Company recorded $12.2 million, $5.4 million, $2.1 million and $2.3 million of restatement and remediation related expenses, respectively (see further discussion in Note 1 - Business and Summary of Significant Accounting Policies).


(4)	During the second quarter of fiscal 2015, the Company decreased its accrual for value added tax matters in its Spanish subsidiary by $6.2 million (see further discussion in Note 13 - Commitments and Contingencies).


(5)	During the third quarter of fiscal 2015, the Company recorded a gain of $5.1 million associated with LCD Settlements, net (see further discussion in Note 1 - Business and Summary of Significant Accounting Policies).

(6)

During the fourth quarter of fiscal 2015, the Company recorded income tax benefits of $19.2 million primarily related to the reversal of deferred tax valuation allowances in certain jurisdictions in Europe, partially offset by income tax expenses of $5.6 million related to undistributed earnings on assets held for sale in certain Latin American jurisdictions (see further discussion in Note 8 - Income Taxes).