Unaudited Quarterly Financial Data

12 Months Ended

Jan. 01, 2022

Quarterly Financial Information Disclosure [Abstract]

Unaudited Quarterly Financial Data

21. Unaudited Quarterly Financial Data

The following tables summarize the consolidated quarterly results of operations for the years ended January 1, 2022, and January 2, 2021 (in thousands, except per share amounts):

	Year Ended January 1, 2022
	First Quarter		Second Quarter		Third Quarter (1)			Fourth Quarter
Net sales	$	271,092	$	285,500	$	300,431		$	304,441
Gross profit		93,962		97,009		104,203			108,325
Net income (loss) attributable to common shareholders		12,384		6,582		(6,782	)		14,613
Net income (loss) per share – basic	$	0.21	$	0.11	$	(0.11	)	$	0.24
Net income (loss) per share – diluted	$	0.21	$	0.11	$	(0.11	)	$	0.24

	Year Ended January 2, 2021
	First Quarter		Second Quarter (2)		Third Quarter		Fourth Quarter
Net sales	$	220,204	$	202,783	$	238,033	$	221,601
Gross profit		81,127		74,463		86,936		78,798
Net income		15,600		2,199		17,322		9,987
Net income per share – basic	$	0.27	$	0.04	$	0.29	$	0.17
Net income per share – diluted	$	0.26	$	0.04	$	0.29	$	0.17

(1) In the third quarter of 2021, we refinanced our 2018 Senior Notes due 2026 into the 2021 Senior Notes due 2029. As a result, we recorded debt extinguishment costs totaling $25.5 million. See Note 10 for more information.

(2) Net income for the second quarter of the year ended January 2, 2021 was affected by charges for the impairment of a trade name and restructuring activities. See Notes 8 and 22, respectively, for further discussion.

Earnings per share are computed independently for each of the quarters presented; therefore, the sum of the quarterly earnings per share may not equal the annual earnings per share. Each of our fiscal quarters above consists of 13 weeks, except for the first quarter of the year ended January 2, 2021, which consisted of 14 weeks.