23.

Quarterly Financial Information (Unaudited)

The following is a summary of the unaudited quarterly consolidated results of operations for the fiscal years ended December 31, 2016 and January 2, 2016.


	For the Fiscal Quarters Ended
	April 2, 2016			July 2, 2016		October 1, 2016		December 31, 2016
Fiscal year ended December 31, 2016
Revenues, net	$	306,910		$	309,761	$	280,819	$	267,412
Gross profit	$	149,673		$	161,048	$	144,303	$	130,477
Operating income	$	13,557		$	73,731	$	66,792	$	46,730
Net (loss) income attributable to the Company	$	(10,753	)	$	30,494	$	34,658	$	13,300
Basic (loss) earnings per share	$	(0.17	)	$	0.48	$	0.54	$	0.21
Diluted (loss) earnings per share	$	(0.17	)	$	0.46	$	0.53	$	0.20


	For the Fiscal Quarters Ended
	April 4, 2015			July 4, 2015		October 3, 2015		January 2, 2016
Fiscal year ended January 2, 2016
Revenues, net	$	322,103		$	309,754	$	273,324	$	259,238
Gross profit	$	157,303		$	159,364	$	136,622	$	120,798
Operating income	$	18,044		$	70,580	$	63,108	$	16,326
Net (loss) income attributable to the Company	$	(5,433	)	$	27,877	$	21,790	$	(11,309	)
Basic (loss) earnings per share	$	(0.10	)	$	0.49	$	0.38	$	(0.18	)
Diluted (loss) earnings per share	$	(0.10	)	$	0.49	$	0.38	$	(0.18	)

Basic and diluted EPS are computed independently for each of the periods presented. Accordingly, the sum of the quarterly EPS amounts may not agree to the total for the year.

As discussed in Note 1, in fiscal 2016, the Company identified and recorded out-of-period adjustments related to (i) income tax errors primarily related to reversing a foreign tax receivable originally recorded in fiscal 2008 that should have been reversed in fiscal 2009; (ii) errors in the prior period tax provision identified upon filing of the tax return and (iii) technology expenses that should have been capitalized in fiscal 2015. The impact of correcting these errors, to the extent applicable to the period, increased the provision for income taxes and decreased net income attributable to the Company by $2,684 ($0.04 per fully diluted share) in the third quarter of fiscal 2016 and increased operating income, decreased the provision for income taxes and increased net income attributable to the Company by $1,466, $110, and $1,576 ($0.02 per fully diluted share) in the fourth quarter of fiscal 2016.

As discussed in further detail in Note 12, the Company recorded a net tax benefit arising from a research and development tax credit and a Section 199 deduction for the tax years 2012 through 2015 in the third quarter of fiscal 2016 of $11,438 ($0.17 per fully diluted share).

As discussed in further detail in Note 20, the Company recorded restructuring charges of $5,761 ($3,514 after tax), $232 ($142 after tax), $1,081 ($660 after tax) and $1,338 ($815 after tax) during the first, second, third and fourth quarters of fiscal 2015, respectively, in connection with employee termination benefit costs associated with its previously disclosed cost-savings initiative plan to restructure its organization, reducing gross profit, operating income, net income attributable to the Company and to EPS all four quarters of fiscal 2015.

As discussed in further detail in Note 4, operating income, net income and EPS during the fourth quarter of fiscal 2015 were impacted by the Company recording expenses of $13,593 ($8,292 after tax and $0.13 per fully diluted share) in connection with the Winfrey Transaction in the fourth quarter of fiscal 2015.

As discussed in further detail in Note 8, net income and EPS were impacted by a gain on the early extinguishment of debt of $4,749 ($2,897 after tax) and $6,727 ($4,103 after tax), or $0.05 and $0.07 per fully diluted share, during the first and second quarters of fiscal 2015, respectively.

As discussed in Note 1, the Company identified and recorded out-of-period adjustments related to immaterial errors in prior period financial statements that increased net income attributable to the Company by $420 for the second quarter of fiscal 2015 and decreased net income attributable to the Company by $740 in the fourth quarter of fiscal 2015.