Selected Quarterly Financial Information |
(23) Selected Quarterly Financial Information
(unaudited)
The following table sets forth selected unaudited consolidated
quarterly financial information for 2015 and 2014 (in thousands,
except per share data):
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Quarters Ended |
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Dec. 31,
2015 |
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Sept. 30,
2015 |
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June 30,
2015 |
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Mar. 31,
2015 |
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Dec. 31,
2014 |
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Sept. 30,
2014 |
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June 30,
2014 |
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Mar. 31,
2014 |
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Net sales
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$ |
1,387,185 |
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$ |
1,342,195 |
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$ |
1,424,031 |
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$ |
1,219,679 |
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$ |
1,446,134 |
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$ |
1,237,668 |
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$ |
1,417,897 |
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$ |
1,214,530 |
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Costs of goods sold
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1,206,332 |
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1,159,944 |
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1,232,616 |
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1,057,866 |
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1,263,895 |
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1,065,848 |
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1,223,298 |
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1,050,785 |
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Gross profit
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180,853 |
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182,251 |
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191,415 |
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161,813 |
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182,239 |
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171,820 |
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194,599 |
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163,745 |
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Operating expenses:
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Selling and administrative expenses
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147,310 |
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148,796 |
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148,004 |
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140,796 |
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143,594 |
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143,134 |
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147,810 |
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142,429 |
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Severance and restructuring expenses
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2,995 |
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817 |
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372 |
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723 |
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3,478 |
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308 |
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310 |
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337 |
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Earnings from operations
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30,548 |
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32,638 |
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43,039 |
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20,294 |
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35,167 |
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28,378 |
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46,479 |
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20,979 |
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Non-operating (income) expense:
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Interest income
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(172 |
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(265 |
) |
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(192 |
) |
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(154 |
) |
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(251 |
) |
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(229 |
) |
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(333 |
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(249 |
) |
Interest expense
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1,706 |
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2,062 |
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1,718 |
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1,738 |
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1,466 |
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1,594 |
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1,501 |
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1,458 |
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Net foreign currency exchange loss (gain)
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535 |
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(1,561 |
) |
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20 |
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613 |
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(868 |
) |
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238 |
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461 |
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496 |
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Other expense, net
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326 |
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357 |
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281 |
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331 |
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286 |
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369 |
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443 |
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249 |
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Earnings before income taxes
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28,153 |
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32,045 |
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41,212 |
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17,766 |
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34,534 |
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26,406 |
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44,407 |
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19,025 |
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Income tax expense
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9,577 |
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11,220 |
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15,713 |
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6,815 |
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15,051 |
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9,004 |
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17,158 |
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7,475 |
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Net earnings
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$ |
18,576 |
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$ |
20,825 |
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$ |
25,499 |
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$ |
10,951 |
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$ |
19,483 |
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$ |
17,402 |
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$ |
27,249 |
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$ |
11,550 |
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Net earnings per share:
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Basic
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$ |
0.50 |
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$ |
0.56 |
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$ |
0.67 |
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$ |
0.28 |
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$ |
0.48 |
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$ |
0.42 |
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$ |
0.67 |
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$ |
0.28 |
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Diluted
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$ |
0.50 |
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$ |
0.56 |
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$ |
0.67 |
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$ |
0.27 |
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$ |
0.48 |
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$ |
0.42 |
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$ |
0.66 |
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$ |
0.28 |
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Shares used in per share calculations:
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Basic
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37,099 |
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37,095 |
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38,067 |
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39,673 |
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40,692 |
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40,972 |
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40,951 |
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41,632 |
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Diluted
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37,429 |
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37,351 |
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38,326 |
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39,994 |
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41,015 |
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41,270 |
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41,228 |
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41,918 |
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