Quarterly Financial Data

25. Quarterly Financial Data (Unaudited)

The Company reports interim financial information for 13-week periods, except for the first quarter, which always begins on April 1, and the fourth quarter, which always ends on March 31. The four quarters in fiscal 2011 ended on July 4, 2010, October 3, 2010, January 2, 2011, and March 31, 2011, respectively. The four quarters in fiscal 2010 ended on June 28, 2009, September 27, 2009, December 27, 2009, and March 31, 2010, respectively.


	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		Fiscal Year
Fiscal year ended March 31, 2011
Net sales	$	434,969	$	472,843	$	508,596	$	548,054	$	1,964,462
Gross profit		96,614		110,721		117,900		124,609		449,844
Operating earnings⁽¹⁾		37,480		44,496		48,320		53,518		183,814
Net earnings⁽²⁾		23,027		26,549		33,759		30,091		113,426
Net earnings per common share—basic	$	0.47	$	0.54	$	0.68	$	0.60	$	2.30
Net earnings per common share—diluted	$	0.47	$	0.53	$	0.67	$	0.59	$	2.27
Fiscal year ended March 31, 2010
Net sales	$	340,265	$	367,325	$	421,258	$	450,537	$	1,579,385
Gross profit		77,461		88,617		98,329		96,497		360,904
Operating earnings⁽³⁾		19,534		25,149		38,577		31,037		114,297
Net earnings⁽³⁾		8,411		12,905		23,159		17,829		62,304
Net earnings per common share—basic	$	0.18	$	0.27	$	0.48	$	0.37	$	1.29
Net earnings per common share—diluted	$	0.17	$	0.26	$	0.47	$	0.36	$	1.28

(1)

Included in Operating earnings were restructuring charges of $723, $2,750, $1,754 and $1,586 for the first, second, third and fourth quarters of fiscal 2011, respectively.

(2)

Included in Net earnings were restructuring charges as explained in note above as well as charges related to refinancing of $8,155 in the fourth quarter of fiscal 2011.

(3)

Included in Operating earnings and Net earnings were restructuring charges of $3,519, $3,184, $1,063 and $6,163 for the first, second, third and fourth quarters of fiscal 2010, respectively. Also included in the third quarter of fiscal 2010 operating earnings was a bargain purchase gain of $2,919 resulting from the acquisition of Oerlikon.

- Definition

This element can be used to disclose the entire quarterly financial data disclosure in the annual financial statements as a single block of text. The disclosure includes a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. Alternatively, the details of this disclosure can be reported using the elements in this group, or by using other taxonomy elements and applying the appropriate quarterly date and period contexts when creating an instance document. For example, the element for "Interest and Dividend Income, Operating" may be used by financial institutions from the Statement of Income, applying the appropriate quarterly date and period context when creating an instance document.

+ References+ Details