Selected Quarterly Financial Data

12 Months Ended

Dec. 31, 2011

Selected Quarterly Financial Data [Abstract]

18. Selected Quarterly Financial Data (Unaudited)

The following is a summary of the Company's unaudited quarterly financial information for fiscal years 2011 and 2010 (in thousands, except per share data):


Fiscal Year 2011	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr
Net sales	$	536,975		$	556,661		$	642,910		$	830,756
Gross profit		301,812			311,976			359,529			465,869
Operating expenses		209,256			225,714			240,720			291,505
Operating income		92,556			86,262			118,809			174,364
Income before income taxes		89,258			81,688			111,811			168,803
Provision for income taxes		31,192			27,657			39,307			46,001
Net income		58,066			54,031			72,504			122,802
Net income attributable to noncontrolling interest		2,244			2,670			2,895			4,891
Net income attributable to Fossil, Inc.		55,822			51,361			69,609			117,911
Comprehensive income		72,109			62,777			58,068			117,210
Comprehensive income attributable to noncontrolling interest		2,244			2,670			2,895			4,891
Comprehensive income attributable to Fossil, Inc.		69,865			60,107			55,173			112,319
Earnings per share:
Basic		0.87			0.81			1.10			1.88
Diluted		0.86			0.80			1.09			1.87
Gross profit as a percentage of net sales		56.2	%		56.0	%		55.9	%		56.1	%
Operating expenses as a percentage of net sales		39.0	%		40.5	%		37.4	%		35.1	%
Operating income as a percentage of net sales		17.2	%		15.5	%		18.5	%		21.0	%


Fiscal Year 2010	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr
Net sales	$	393,229		$	412,560		$	523,825		$	701,076
Gross profit		219,419			236,885			298,743			400,118
Operating expenses		168,156			172,539			187,473			250,582
Operating income		51,263			64,346			111,270			149,536
Income before income taxes		53,739			64,524			111,257			154,690
Provision for income taxes		16,043			7,965			40,353			54,959
Net income		37,696			56,559			70,904			99,731
Net income attributable to noncontrolling interest		1,789			2,074			2,748			3,074
Net income attributable to Fossil, Inc.		35,907			54,485			68,156			96,657
Comprehensive income		25,496			43,323			88,705			92,324
Comprehensive income attributable to noncontrolling interest		1,780			2,062			2,764			3,084
Comprehensive income attributable to Fossil, Inc.		23,716			41,261			85,941			89,240
Earnings per share:
Basic		0.54			0.81			1.02			1.48
Diluted		0.53			0.80			1.00			1.46
Gross profit as a percentage of net sales		55.8	%		57.4	%		57.0	%		57.1	%
Operating expenses as a percentage of net sales		42.8	%		41.8	%		35.8	%		35.7	%
Operating income as a percentage of net sales		13.0	%		15.6	%		21.2	%		21.3	%

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details