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Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 29, 2013
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited)

The following financial information reflects all normal and recurring adjustments that are, in the opinion of management, necessary for a fair statement of the results of the interim periods. Summarized quarterly data for the years ended December 30, 2012 and December 29, 2013, is as follows (in millions, except per share data):

Quarterly Results in 2012

 
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
Fiscal year 2012
 
 
 
 
 
 
 
 
 
Revenues
 
$
209.5

 
$
219.8

 
$
276.3

 
$
263.6

 
Gross profit
 
$
57.4

 
$
57.7

 
$
74.1

 
$
68.0

 
Operating income from continuing operations
 
$
9.1

 
$
7.4

 
$
14.1

 
$
(80.3
)
 
Provision (benefit) for income taxes
 
$
(4.1
)
 
$
6.6

 
$
1.3

 
$
(5.4
)
 
Net loss
 
$
(3.0
)
 
$
(17.2
)
 
$
(4.2
)
 
$
(90.0
)
 
Net loss per common share:
 
 
 
 
 
 
 
 
 
Basic and diluted
 
$
(0.09
)
 
$
(0.41
)
 
$
(0.07
)
 
$
(1.59
)
 


The quarterly increases in revenues and expenses in the third and fourth quarter are a result of the Company's acquisition of CEI. See Note 3.

In the fourth quarter the Company incurred an impairment of goodwill and intangible assets of $96.6 million. See Note 2.

During the first, second, and third quarters, the Company incurred $0.9 million, $1.5 million, and $0.3 million, respectively, of expenses related to the Company's acquisitions during those quarters and during the fourth quarter the Company had a benefit of $2.7 million related to acquisition items. Also included in each of the first, second, third and fourth quarter is amortization of purchased intangibles of $10.5 million, $8.9 million, $13.0 million and $11.5 million, respectively.

    


Quarterly Results in 2013

 
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
Fiscal year 2013
 
 
 
 
 
 
 
 
 
Revenues
 
$
253.3

 
$
235.2

 
$
226.4

 
$
235.7

 
Gross profit
 
$
65.8

 
$
60.4

 
$
52.3

 
$
61.5

 
Operating income (loss) from continuing operations
 
$
11.4

 
$
8.9

 
$
6.1

 
$
5.4

 
Provision (benefit) for income taxes
 
$
2.8

 
$
(0.1
)
 
$
0.2

 
$
(2.9
)
 
Net loss
 
$
(10.3
)
 
$
(9.6
)
 
$
(9.9
)
 
$
(7.4
)
 
Net loss per common share:
 
 
 
 
 
 
 
 
 
Basic and diluted
 
$
(0.18
)
 
$
(0.17
)
 
$
(0.17
)
 
$
(0.12
)
 


In the third quarter the Company had a benefit of $4.7 million primarily related to an adjustment to the liability for unused office space which was primarily due to a change in the estimated excess facility accrual of office space at our Colombia, Maryland administrative facilities partially offset by $2.0 million of expenses related to workforce reductions as a result of cost reduction initiatives we have implemented across the Company. Also included in each of the first, second, third and fourth quarter is amortization of purchased intangibles of $9.3 million, $9.0 million, $9.0 million and $8.9 million, respectively.