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Summary of Quarterly Results of Operations (Unaudited) (Tables) | 12 Months Ended
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May 02, 2020
Quarterly Financial Information Disclosure [Abstract] |
Summary of unaudited quarterly results of operations | The following is a summary of unaudited quarterly results of operations for fiscal 2020 and fiscal 2019:
|  | Fiscal 2020 |
|  | Quarter Ended |
|  | July 27, 2019 |  |  | October 26, 2019 |  |  | February 1, 2020 |  |  | May 2, 2020 |
(Dollars in Millions, except per share data) |  | (13 Weeks) |  |  | (13 Weeks) |  |  | (14 Weeks) |  |  | (13 Weeks) |
Net Sales |  | $ | 270.2 |  |  | $ | 257.2 |  |  | $ | 285.9 |  |  | $ | 210.6 |
Gross Profit |  | $ | 75.8 |  |  | $ | 68.6 |  |  | $ | 79.3 |  |  | $ | 59.2 |
Net Income |  | $ | 28.3 |  |  | $ | 23.8 |  |  | $ | 41.2 |  |  | $ | 30.1 |
Net Income per Basic Common Share |  | $ | 0.75 |  |  | $ | 0.63 |  |  | $ | 1.10 |  |  | $ | 0.80 |
Net Income per Diluted Common Share |  | $ | 0.75 |  |  | $ | 0.63 |  |  | $ | 1.09 |  |  | $ | 0.79 |
|  | Fiscal 2019 |
|  | Quarter Ended |
|  | July 28, 2018 |  |  | October 27, 2018 |  |  | January 26, 2019 |  |  | April 27, 2019 |
(Dollars in Millions, except per share data) |  | (13 Weeks) |  |  | (13 Weeks) |  |  | (13 Weeks) |  |  | (13 Weeks) |
Net Sales |  | $ | 223.4 |  |  | $ | 264.0 |  |  | $ | 246.9 |  |  | $ | 266.0 |
Gross Profit |  | $ | 60.1 |  |  | $ | 70.8 |  |  | $ | 64.3 |  |  | $ | 70.6 |
Net Income |  | $ | 23.7 |  |  | $ | 14.6 |  |  | $ | 30.7 |  |  | $ | 22.6 |
Net Income per Basic Common Share |  | $ | 0.63 |  |  | $ | 0.39 |  |  | $ | 0.82 |  |  | $ | 0.61 |
Net Income per Diluted Common Share |  | $ | 0.63 |  |  | $ | 0.39 |  |  | $ | 0.82 |  |  | $ | 0.60 |
Significant Items for Fiscal 2020 The table below contains items included in fiscal 2020:
|  | Fiscal 2020 |
|  | Quarter Ended |
|  | July 27, 2019 |  |  | October 26, 2019 |  |  | February 1, 2020 |  |  | May 2, 2020 |
(Dollars in Millions) |  | (13 Weeks) |  |  | (13 Weeks) |  |  | (14 Weeks) |  |  | (13 Weeks) |
Legal Fees Related to the Hetronic lawsuit |  | $ | 0.8 |  |  | $ | 1.4 |  |  | $ | 1.1 |  |  | $ | 2.1 |
Grant Income from Foreign Government for Maintaining Certain Employment Levels |  | $ | — |  |  | $ | — |  |  | $ | (5.5 | ) |  | $ | (4.4 | )
RSA Compensation Expense Adjustment |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (6.5 | )
Expense for Initiatives to Reduce Overall Costs and Improve Operational Profitability |  | $ | — |  |  | $ | 0.5 |  |  | $ | 1.1 |  |  | $ | 0.2 |
Significant Items for Fiscal 2019
|  | Fiscal 2019 |
|  | Quarter Ended |
|  | July 28, 2018 |  |  | October 27, 2018 |  |  | January 26, 2019 |  |  | April 27, 2019 |
(Dollars in Millions, except per share data) |  | (13 Weeks) |  |  | (13 Weeks) |  |  | (13 Weeks) |  |  | (13 Weeks) |
Legal Fees Related to the Hetronic lawsuit |  | $ | 0.9 |  |  | $ | 1.0 |  |  | $ | 0.8 |  |  | $ | 0.8 |
Acquisition-related Expenses |  | $ | 0.6 |  |  | $ | 10.9 |  |  | $ | 3.8 |  |  | $ | 0.1 |
Grant Income from Foreign Government for Maintaining Certain Employment Levels |  | $ | (1.1 | ) |  | $ | (1.4 | ) |  | $ | (1.9 | ) |  | $ | (1.4 | )
RSA Compensation Expense Adjustment |  | $ | — |  |  | $ | 7.4 |  |  | $ | — |  |  | $ | — |
Expense for Initiatives to Reduce Overall Costs and Improve Operational Profitability |  | $ | 0.8 |  |  | $ | 2.5 |  |  | $ | 2.6 |  |  | $ | 1.0 |

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118952077&loc=d3e1280-108306 + Details
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