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Summary of Quarterly Results of Operations (Unaudited)
 12 Months Ended
May 02, 2020
Quarterly Financial Information Disclosure [Abstract]  
Summary of Quarterly Results of Operations (Unaudited)

Note 16.  Summary of Quarterly Results of Operations (Unaudited)

The following is a summary of unaudited quarterly results of operations for fiscal 2020 and fiscal 2019:

 

 

 

Fiscal 2020

 

 

 

Quarter Ended

 

 

 

July 27, 2019

 

 

October 26, 2019

 

 

February 1, 2020

 

 

May 2, 2020

 

(Dollars in Millions, except per share data)

 

(13 Weeks)

 

 

(13 Weeks)

 

 

(14 Weeks)

 

 

(13 Weeks)

 

Net Sales

 

$

270.2

 

 

$

257.2

 

 

$

285.9

 

 

$

210.6

 

Gross Profit

 

$

75.8

 

 

$

68.6

 

 

$

79.3

 

 

$

59.2

 

Net Income

 

$

28.3

 

 

$

23.8

 

 

$

41.2

 

 

$

30.1

 

Net Income per Basic Common Share

 

$

0.75

 

 

$

0.63

 

 

$

1.10

 

 

$

0.80

 

Net Income per Diluted Common Share

 

$

0.75

 

 

$

0.63

 

 

$

1.09

 

 

$

0.79

 

 

 

 

Fiscal 2019

 

 

 

Quarter Ended

 

 

 

July 28, 2018

 

 

October 27, 2018

 

 

January 26, 2019

 

 

April 27, 2019

 

(Dollars in Millions, except per share data)

 

(13 Weeks)

 

 

(13 Weeks)

 

 

(13 Weeks)

 

 

(13 Weeks)

 

Net Sales

 

$

223.4

 

 

$

264.0

 

 

$

246.9

 

 

$

266.0

 

Gross Profit

 

$

60.1

 

 

$

70.8

 

 

$

64.3

 

 

$

70.6

 

Net Income

 

$

23.7

 

 

$

14.6

 

 

$

30.7

 

 

$

22.6

 

Net Income per Basic Common Share

 

$

0.63

 

 

$

0.39

 

 

$

0.82

 

 

$

0.61

 

Net Income per Diluted Common Share

 

$

0.63

 

 

$

0.39

 

 

$

0.82

 

 

$

0.60

 

 

Significant Items for Fiscal 2020

The table below contains items included in fiscal 2020:

 

 

Fiscal 2020

 

 

 

Quarter Ended

 

 

 

July 27, 2019

 

 

October 26, 2019

 

 

February 1, 2020

 

 

May 2, 2020

 

(Dollars in Millions)

 

(13 Weeks)

 

 

(13 Weeks)

 

 

(14 Weeks)

 

 

(13 Weeks)

 

Legal Fees Related to the Hetronic lawsuit

 

$

0.8

 

 

$

1.4

 

 

$

1.1

 

 

$

2.1

 

Grant Income from Foreign Government for Maintaining Certain Employment Levels

 

$

—

 

 

$

—

 

 

$

(5.5

)

 

$

(4.4

)

RSA Compensation Expense Adjustment

 

$

—

 

 

$

—

 

 

$

—

 

 

$

(6.5

)

Expense for Initiatives to Reduce Overall Costs and Improve Operational Profitability

 

$

—

 

 

$

0.5

 

 

$

1.1

 

 

$

0.2

 

 

Significant Items for Fiscal 2019

 

 

Fiscal 2019

 

 

 

Quarter Ended

 

 

 

July 28, 2018

 

 

October 27, 2018

 

 

January 26, 2019

 

 

April 27, 2019

 

(Dollars in Millions, except per share data)

 

(13 Weeks)

 

 

(13 Weeks)

 

 

(13 Weeks)

 

 

(13 Weeks)

 

Legal Fees Related to the Hetronic lawsuit

 

$

0.9

 

 

$

1.0

 

 

$

0.8

 

 

$

0.8

 

Acquisition-related Expenses

 

$

0.6

 

 

$

10.9

 

 

$

3.8

 

 

$

0.1

 

Grant Income from Foreign Government for Maintaining Certain Employment Levels

 

$

(1.1

)

 

$

(1.4

)

 

$

(1.9

)

 

$

(1.4

)

RSA Compensation Expense Adjustment

 

$

—

 

 

$

7.4

 

 

$

—

 

 

$

—

 

Expense for Initiatives to Reduce Overall Costs and Improve Operational Profitability

 

$

0.8

 

 

$

2.5

 

 

$

2.6

 

 

$

1.0