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Quarterly Financial Information (Unaudited) | 12 Months Ended
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Jan. 02, 2021
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Information (Unaudited) |
2 4. | Quarterly Financial Information (Unaudited)
The following is a summary of the unaudited quarterly consolidated results of operations for the fiscal years ended January 2, 2021 and December 28, 2019.
|  | For the Fiscal Quarters Ended |
|  | March 28, |  |  | June 27, |  |  | September 26, |  | January 2, |
|  | 2020 |  |  | 2020 |  |  | 2020 |  | 2021 |
Fiscal year ended January 2, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues, net |  | $ | 400,361 |  |  | $ | 333,637 |  |  | $ | 320,699 |  |  | $ | 323,427 |
Gross profit |  | $ | 210,991 |  |  | $ | 194,671 |  |  | $ | 190,096 |  |  | $ | 182,083 |
Operating income |  | $ | 24,867 |  |  | $ | 50,985 |  |  | $ | 92,642 |  |  | $ | 47,668 |
Net (loss) income attributable to the Company |  | $ | (6,063 | ) |  | $ | 14,006 |  |  | $ | 54,525 |  |  | $ | 12,611 |
Basic (loss) earnings per share |  | $ | (0.09 | ) |  | $ | 0.21 |  |  | $ | 0.80 |  |  | $ | 0.18 |
Diluted (loss) earnings per share |  | $ | (0.09 | ) |  | $ | 0.20 |  |  | $ | 0.78 |  |  | $ | 0.18 |
|  | For the Fiscal Quarters Ended |
|  | March 30, |  |  | June 29, |  |  | September 28, |  |  | December 28, |
|  | 2019 |  |  | 2019 |  |  | 2019 |  |  | 2019 |
Fiscal year ended December 28, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues, net |  | $ | 363,164 |  |  | $ | 369,023 |  |  | $ | 348,567 |  |  | $ | 332,583 |
Gross profit |  | $ | 200,948 |  |  | $ | 215,814 |  |  | $ | 194,769 |  |  | $ | 175,151 |
Operating income |  | $ | 21,897 |  |  | $ | 105,473 |  |  | $ | 94,729 |  |  | $ | 65,886 |
Net (loss) income attributable to the Company |  | $ | (10,687 | ) |  | $ | 53,834 |  |  | $ | 47,086 |  |  | $ | 29,383 |
Basic (loss) earnings per share |  | $ | (0.16 | ) |  | $ | 0.80 |  |  | $ | 0.70 |  |  | $ | 0.44 |
Diluted (loss) earnings per share |  | $ | (0.16 | ) |  | $ | 0.78 |  |  | $ | 0.68 |  |  | $ | 0.42 |
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 23, the Company recorded restructuring charges of $11,209 ($8,325 after tax), $2,251 ($1,680 after tax) and $19,632 ($14,687 after tax) during the second, third and fourth quarters of fiscal 2020, respectively, in connection with employee termination benefit costs and lease termination and other related costs associated with its previously disclosed plan to restructure its organization, reducing gross profit, operating income, net income attributable to the Company and EPS for the second, third and fourth quarters of fiscal 2020. As discussed in Note 22, in the second quarter of fiscal 2020, the Company recorded $32,686, or $0.35 per fully diluted share, of stock compensation expense for the Winfrey Amendment Option. As discussed in Note 7, in the first quarter of fiscal 2020, the Company recorded a $3,665, or $0.04 per fully diluted share, impairment charge for goodwill related to its Brazil reporting unit. As discussed in Note 13, in the fourth quarter of fiscal 2020, the Company identified and recorded a $2,278 tax expense for out-of-period income tax adjustments.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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