Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 26, 2015

Quarterly Financial Information (Unaudited) [Abstract]

Quarterly Financial Information (Unaudited)

Note 17 – Quarterly Financial Information (Unaudited) ⁽⁷⁾

	First		Second				Third				Fourth
(In thousands, except per share data)	Quarter		Quarter				Quarter				Quarter

2015
Net sales	$	537,242	$	555,593			$	535,184			$	471,983
Gross profit ⁽¹⁾		76,408		85,228				68,017				60,647
Consolidated net income ⁽²⁾		22,340		33,862	⁽³	⁾		18,095	⁽⁴	⁾		14,110
Net income attributable to Mueller Industries, Inc.		21,978		33,651				17,800				14,435
Basic earnings per share		0.39		0.60				0.32				0.26
Diluted earnings per share		0.39		0.59				0.31				0.25
Dividends per share		0.075		0.075				0.075				0.075

2014
Net sales	$	574,374	$	649,691			$	602,820			$	537,342
Gross profit⁽¹⁾		78,597		91,916				81,542				68,453
Consolidated net income ⁽⁵⁾		24,954		35,209				24,322				18,049	⁽⁶	⁾
Net income attributable to Mueller Industries, Inc.		24,706		35,045				23,823				17,987
Basic earnings per share		0.44		0.63				0.42				0.32
Diluted earnings per share		0.44		0.62				0.42				0.32
Dividends per share		0.075		0.075				0.075				0.075

(1) Gross profit is net sales less cost of goods sold, which excludes depreciation and amortization.

(2) Includes income earned by Turbotec, acquired during Q2 2015, Sherwood, acquired during Q2 2015, and Great Lakes, acquired during Q3 2015.

(3) Includes $15.4 million pre-tax gain on sale of assets and $3.4 million of pre-tax charges related to severance.

(4) During Q3 2015, the Company recorded a permanent adjustment to a deferred tax liability of $4.2 million.

(5) Includes losses incurred by Yorkshire, acquired during Q1 2014.

(6) Includes $4.8 million pre-tax gain on sale of assets and $4.2 million of pre-tax charges related to severance.

(7) The sum of quarterly amounts may not equal the annual amounts reported due to rounding. In addition, the earnings per share amounts are computed independently for each quarter, while the full year is based on the weighted average shares outstanding.