
	FIRST QUARTER			SECOND QUARTER			THIRD QUARTER			FOURTH QUARTER			FULL YEAR
	(In Thousands, Except Per Share Data)
FISCAL YEAR 2012 ⁽¹⁾
Sales	$	95,539		$	100,504		$	88,739		$	114,858		$	399,640
Gross profit		45,603			46,637			39,007			54,512			185,759
Operating income (loss)		4,154			5,267			(2,526	)		7,029			13,924
Income (loss) before taxes		3,989			5,145			(2,677	)		6,846			13,303
Income tax provision (benefit)		1,539			2,151			(1,073	)		2,627			5,244
Income (loss) from continuing operations		2,450			2,994			(1,604	)		4,219			8,059
Loss from discontinued operations		(181	)		(1,756	)		4			—			(1,933	)
Net income (loss)	$	2,269		$	1,238		$	(1,600	)	$	4,219		$	6,126
Earnings per share—basic	$	0.05		$	0.03		$	(0.03	)	$	0.09		$	0.13
Earnings per share—diluted	$	0.05		$	0.03		$	(0.03	)	$	0.09		$	0.13

FISCAL YEAR 2011 ⁽¹⁾
Sales	$	95,357		$	100,445		$	88,991		$	111,074		$	395,867
Gross profit		44,793			48,658			40,020			49,705			183,176
Provision for trademark impairment ⁽²⁾		—			—			—			(23,110	)		(23,110	)
Operating income (loss) ⁽²⁾		5,183			7,999			(786	)		(16,862	)		(4,466	)
Income (loss) before taxes		5,062			7,872			(1,174	)		(17,034	)		(5,274	)
Income tax provision (benefit) ⁽³⁾		471			738			(175	)		(51,112	)		(50,078	)
Income (loss) from continuing operations		4,591			7,134			(999	)		34,078			44,804
Loss from discontinued operations		(383	)		(576	)		(597	)		(585	)		(2,141	)
Net income (loss)	$	4,208		$	6,558		$	(1,596	)	$	33,493		$	42,663
Earnings per share—basic	$	0.09		$	0.14		$	(0.03	)	$	0.70		$	0.90
Earnings per share—diluted	$	0.09		$	0.14		$	(0.03	)	$	0.70		$	0.89

(1)

Fiscal 2012 was a 53-week year as compared to fiscal 2011 which was a 52-week year. As discussed in Note J, during the second quarter of fiscal 2012, the Company exited is European Direct business. Accordingly, the operating results for the first quarter of fiscal 2012 and all periods of fiscal 2011 have been restated for discontinued operations.

(2)	During the fourth quarter of fiscal 2011, the Company recorded an impairment charge of $23.1 million against the carrying value of its “Casual Male” trademark, see Note A.

(3)	During the fourth quarter of fiscal 2011, the Company reversed substantially of all of its valuation allowance against its deferred tax assets in the amount of $42.5 million which was reflected an income tax benefit for fiscal 2011, see Note D.