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Quarterly Financial Data (Unaudited)
 12 Months Ended
May 31, 2016
Quarterly Financial Data [Abstract]  
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited)
The following is a summary of the results of operation for each of the quarters within the fiscal years ended May 31, 2016 and 2015:
May 31, 2016 (in thousands)
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
 
 
 
 
 
 
 
Revenue
$
1,198,890

 
$
1,219,080

 
$
1,216,083

 
$
1,271,405

Gross margin
$
524,144

 
$
527,400

 
$
524,608

 
$
553,718

Net income, continuing operations
$
106,198

 
$
115,453

 
$
117,279

 
$
118,011

Basic earnings per share, continuing operations
$
0.94

 
$
1.05

 
$
1.07

 
$
1.09

Diluted earnings per share, continuing operations
$
0.93

 
$
1.03

 
$
1.05

 
$
1.08

Weighted average number of shares outstanding
110,597

 
108,301

 
107,843

 
106,136


May 31, 2015 (in thousands) (1) (2)
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
 
 
 
 
 
 
 
Revenue
$
1,102,077

 
$
1,123,379

 
$
1,108,847

 
$
1,142,583

Gross margin
$
477,946

 
$
481,424

 
$
475,307

 
$
486,660

Net income, continuing operations
$
105,905

 
$
103,701

 
$
100,331

 
$
100,584

Basic earnings per share, continuing operations
$
0.90

 
$
0.88

 
$
0.86

 
$
0.87

Diluted earnings per share, continuing operations
$
0.89

 
$
0.86

 
$
0.85

 
$
0.86

Weighted average number of shares outstanding
116,659

 
117,115

 
116,178

 
113,666


(1) The figures for fiscal 2015 reflect the change in classification of Shred-it to discontinued operations within the Consolidated Statements of Income. See Note 16 entitled Discontinued Operations for additional information.

(2) During the fiscal 2015 first quarter, Cintas recognized a gain on the sale of stock in an equity method investment in the net amount of $13.6 million.