Quarterly Results (unaudited)

12 Months Ended

Nov. 30, 2015

Quarterly Financial Information Disclosure [Abstract]

The following tables present our consolidated quarterly results for the years ended November 30, 2015 and 2014 (in thousands, except per share amounts):



	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2015
Revenues	$	580,121	$	622,969	$	843,157	$	985,783
Gross profits	86,739		97,631		133,099		171,482
Pretax income	10,499		12,673		33,954		69,917
Net income	7,799		9,573		23,254		44,017
Earnings per share:
Basic	$	.08	$	.10	$	.25	$	.48
Diluted	$	.08	$	.10	$	.23	$	.43

2014
Revenues	$	450,687	$	565,007	$	589,214	$	796,041
Gross profits	80,561		107,595		108,931		114,765
Pretax income	10,763		26,924		28,661		28,601
Net income	10,563		26,624		28,361		852,801
Earnings per share:
Basic	$	.13	$	.30	$	.31	$	9.25
Diluted	$	.12	$	.27	$	.28	$	8.36

Gross profits in the fourth quarter of 2014 included inventory impairment charges of $34.2 million. Pretax income in the first quarter of 2014 included a $3.2 million gain on the sale of our interest in an unconsolidated joint venture. Net income in the fourth quarter of 2014 included the impact of an $825.2 million deferred tax asset valuation allowance reversal.

Quarterly and year-to-date computations of per share amounts are made independently. Therefore, the sum of per share amounts for the quarters may not agree with per share amounts for the year.