Quarterly Financial Data (Unaudited)

The following is summarized quarterly financial data for fiscal 2018 and 2017 (in thousands, except per share amounts):



2018	First Quarter			Second Quarter		Third Quarter		Fourth Quarter		Total
Net sales	$	677,294		$	698,651	$	726,385	$	771,178	$	2,873,508
Gross profit ⁽¹⁾	63,523			52,952		67,821		73,304		257,600
Net (loss) income ^{(1, 2)}	(98,493		)	12,290		26,501		72,742		13,040
Earnings per share ⁽³⁾:
Basic	$	(2.93	)	$	0.37	$	0.81	$	2.27	$	0.40
Diluted ⁽⁴⁾	$	(2.93	)	$	0.36	$	0.79	$	2.20	$	0.38

2017	First Quarter			Second Quarter		Third Quarter		Fourth Quarter		Total
Net sales	$	635,019		$	604,349	$	618,832	$	669,852	$	2,528,052
Gross profit	64,356			63,800		61,185		66,514		255,855
Net income	28,179			29,295		25,579		29,009		112,062
Earnings per share ⁽³⁾:
Basic	$	0.84		$	0.87	$	0.76	$	0.86	$	3.33
Diluted	$	0.82		$	0.84	$	0.74	$	0.84	$	3.24

(1) The second quarter of fiscal 2018 results included the $13.5 million one-time employee bonus.

(2) The first quarter of fiscal 2018 results included $124.5 million of tax expense as a result of the enactment of Tax Reform. The fourth quarter of fiscal 2018 results included $38.6 million of non-recurring tax benefits as well as a $3.6 million benefit due to the reversal of a valuation allowance on U.S. deferred tax assets. These benefits were partially offset by $1.1 million of tax expense for other non-recurring tax items. Refer to Note 6, "Income Taxes," for further details on Tax Reform.

(3) The annual total amounts may not equal the sum of the quarterly amounts due to rounding. Earnings per share is computed independently for each quarter.

(4) The first quarter of fiscal 2018 includes $3.59 per share of tax expense as a result of the enactment of U.S. Tax Reform and $0.09 per share that resulted from 1.1 million of weighted average potentially-dilutive shares that were excluded from the diluted shares calculation due to the net loss position. The second quarter of fiscal 2018 includes $0.38 per share of expense related to the one-time employee bonus. The fourth quarter of fiscal 2018 includes $1.24 per share of non-recurring tax benefits.