Quarterly results of operations (unaudited)

12 Months Ended

Jul. 31, 2012

Quarterly results of operations (unaudited)

17. Quarterly results of operations (unaudited):

The following is a summary of unaudited quarterly results of operations for fiscal years 2012 and 2011:

	Fiscal Year 2012
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Net revenue	$	117,857	$	126,433	$	121,270	$	151,011
Gross profit		43,026		46,845		44,752		58,561
Net income		4,026		19,615		7,330		12,100
Basic net income per share	$	0.32	$	1.61	$	0.60	$	0.99
Diluted net income per share	$	0.32	$	1.59	$	0.59	$	0.96
	Fiscal Year 2011
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Net revenue	$	103,822	$	117,253	$	117,171	$	135,349
Gross profit		39,019		40,809		44,160		48,975
Income from continuing operations		1,381		5,296		4,318		5,625
Income from discontinued operations		289		—		—		—
Gain on disposal of discontinued operations		924		—		—		—
Net income	$	2,594	$	5,296	$	4,318	$	5,625
Basic net income per share:
Income from continuing operations	$	0.11	$	0.42	$	0.35	$	0.45
Income from discontinued operations, net of tax		0.02		—		—		—
Gain on disposal of discontinued operations, net of tax		0.08		—		—		—
Basic net income per share	$	0.21	$	0.42	$	0.35	$	0.45
Diluted net income per share:
Income from continuing operations	$	0.11	$	0.42	$	0.35	$	0.45
Income from discontinued operations, net of tax		0.02		—		—		—
Gain on disposal of discontinued operations, net of tax		0.07		—		—		—
Diluted net income per share	$	0.20	$	0.42	$	0.35	$	0.45

As discussed in the Note 17, the Company received a tax refund of $12,007 in the second quarter of fiscal year 2012 and recorded a tax benefit for this refund, including the related interest, of $10,025. Related to this refund, the Company recorded contingent consulting fees of $2,714 in general and administrative expenses.

As discussed in Note 21, the Company recorded a gain of $2,500 in the second quarter of fiscal year 2012 related to the sale of its 25% interest in a China-based affiliate for $2,500.

As discussed in Note 5, during the first and fourth quarters of fiscal year 2011, the Company recorded a restructuring charge of $3,562 and $3,587.

As discussed in Note 4, the Company recorded a bargain purchase gain of $1,042 in general and administrative expenses in the second quarter of fiscal year 2011 related to the acquisition of certain assets of an OEM transducer and probe business.