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Quarterly Results (Unaudited)
12 Months Ended
Dec. 28, 2019
Quarterly Results (Unaudited)
U.
Quarterly Results (Unaudited)
 
 
 
The Company’s fiscal quarters are consistently determined year to year and generally consist of 13 weeks, except in those fiscal years in which there are fifty-three weeks where the last fiscal quarters then consist of 14 weeks. In management’s opinion, the following unaudited information includes all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the information for the quarters presented. The operating results for any quarter are not necessarily indicative of results for any future quarters
.
                                                                 
 
For Quarters Ended
 
 
December 28,
2019 (2)
 
 
September 28,
2019 (2)
 
 
June 29,
2019 (2)
 
 
March 30,
2019
 
 
December 29,
2018
 
 
September 29,
2018 (1)
 
 
June 30,
2018
 
 
March 31,
2018
 
 
(13 weeks)
 
 
(13 weeks)
 
 
(13 weeks)
 
 
(13 weeks)
 
 
(13 weeks)
 
 
(13 weeks)
 
 
(13 weeks)
 
 
(13 weeks)
 
 
(In thousands, except per share data)
 
Net revenue
  $
  301,300
    $
  378,466
    $
 
  318,407
    $
 
  251,651
    $
  225,222
    $
  306,870
    $
 
  273,100
    $
 
  190,457
 
                                                                 
Gross profit
   
142,789
     
187,835
     
159,002
     
124,540
     
116,949
     
157,227
     
141,970
     
96,097
 
                                                                 
Operating income
   
17,702
     
59,836
     
37,932
     
29,443
     
28,851
     
46,728
     
31,064
     
9,238
 
                                                                 
Net income
  $
13,762
    $
44,729
    $
27,856
    $
23,694
    $
21,811
    $
38,007
    $
23,535
    $
9,310
 
                                                                 
Net income per share – basic
  $
1.13
    $
3.70
    $
2.39
    $
2.04
    $
1.88
    $
3.25
    $
1.99
    $
0.79
 
                                                                 
Net income per share – diluted
  $
1.12
    $
3.65
    $
2.36
    $
2.02
    $
1.86
    $
3.21
    $
1.98
    $
0.78
 
                                                                 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) During the third quarter of 2018, the Company recorded a $4.5 million tax benefit related to tax accounting method changes.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(2) During the second, third and
fourth
quarter of 2019, the Company recorded $1.9 million, $5.9 million and $2.1 million in
non-reoccurring
transaction fees related to the Dogfish Head Transaction, respectively.