Quarterly Results of Operations (Unaudited) (Tables)

12 Months Ended

Jan. 25, 2020

Quarterly Results of Operations (Unaudited)

Schedule of quarterly financial information

Unaudited quarterly results of operations for the fiscal years ended January 25, 2020 and January 26, 2019 were as follows (in thousands, except per share data):


	Fiscal Year 2020
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter

Net sales	$	306,264	$	342,321	$	318,734	$	397,716
Gross profit⁽¹⁾		88,051		100,398		85,413		114,091
Operating income (loss)⁽¹⁾⁽²⁾		25,889		21,813		1,986		(209,149)
Net income (loss)		13,883		10,382		(14,647)		(224,053)
Basic net income (loss) per common share		0.22		0.16		(0.23)		(3.50)
Diluted net income (loss) per common share⁽¹⁾	$	0.21	$	0.16	$	(0.23)	$	(3.50)

	Fiscal Year 2019
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter

Net sales	$	256,161	$	288,493	$	267,180	$	354,065
Gross profit⁽¹⁾		85,244		97,378		85,991		117,239
Operating income (loss)⁽¹⁾⁽³⁾		24,200		(11,828)		19,096		44,568
Net income (loss)		18,361		(10,068)		11,090		29,613
Basic net income (loss) per common share		0.30		(0.16)		0.17		0.47
Diluted net income (loss) per common share	$	0.28	$	(0.16)	$	0.17	$	0.45

(1)

The sum of the quarters does not equal the total fiscal year due to rounding.

(2)

Includes $250.0 million of non-cash impairment charges related to our goodwill in the fourth fiscal quarter 2020.

(3)

Includes $41.5 million of stock-based compensation expense associated with a grant of stock options to our Chairman and Chief Executive Officer that vested and was fully recognized in the second fiscal quarter 2019.