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Quarterly Financial Information (Tables)
 12 Months Ended
Apr. 30, 2017
Quarterly Financial Information Disclosure [Abstract]  
Summary of Quarterly Financial Results

The following table summarizes quarterly financial results in fiscal 2017 and 2016. In our opinion, all adjustments necessary to present fairly the information for such quarters have been reflected (in thousands, except per share data):

 

 

 

For the Year Ended April 30, 2017

 

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

 

Full

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Year

 

Net sales

$

 

206,951

 

 

$

 

233,528

 

 

$

 

233,523

 

 

$

 

229,186

 

 

$

 

903,188

 

Gross profit

 

 

87,569

 

 

 

 

97,605

 

 

 

 

99,311

 

 

 

 

90,787

 

 

 

 

375,272

 

Net income

$

 

35,222

 

(b)

$

 

32,483

 

 

$

 

32,453

 

 

$

 

27,696

 

 

$

 

127,854

 

Per common share (a)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

      Basic - total

$

 

0.63

 

(b)

$

 

0.58

 

 

$

 

0.58

 

 

$

 

0.50

 

 

$

 

2.29

 

      Diluted - total

$

 

0.62

 

(b)

$

 

0.57

 

 

$

 

0.57

 

 

$

 

0.50

 

 

$

 

2.25

 

 

 

For the Year Ended April 30, 2016

 

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

 

Full

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Year

 

Net sales

$

 

147,763

 

 

$

 

143,242

 

 

$

 

210,786

 

 

$

 

221,117

 

 

$

 

722,908

 

Gross profit

 

 

58,870

 

 

 

 

56,215

 

 

 

 

86,658

 

 

 

 

92,069

 

 

 

 

293,812

 

Net income

$

 

14,412

 

 

$

 

12,466

 

 

$

 

31,434

 

 

$

 

35,646

 

 

$

 

93,958

 

Per common share (a)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

      Basic - continuing operations

$

 

0.27

 

 

$

 

0.23

 

 

$

 

0.57

 

 

$

 

0.64

 

 

$

 

1.72

 

      Diluted - continuing operations

$

 

0.26

 

 

$

 

0.22

 

 

$

 

0.56

 

 

$

 

0.63

 

 

$

 

1.68

 

      Basic - total

$

 

0.27

 

 

$

 

0.23

 

 

$

 

0.57

 

 

$

 

0.64

 

 

$

 

1.72

 

      Diluted - total

$

 

0.26

 

 

$

 

0.22

 

 

$

 

0.56

 

 

$

 

0.63

 

 

$

 

1.68

 

 

(a)

Basic and diluted earnings per share may not equal the sum of the quarterly basic and diluted earnings per share due to rounding.

(b)

Our first quarter results for fiscal 2017 were restated as a result of adopting ASU 2016-09, Compensation – Stock Compensation, during the second quarter of fiscal 2017. As a result of this adoption, net income increased $2.6 million and net income per basic and diluted share increased $0.05 for the three months ended July 31, 2016.