Quarterly Financial Data (Unaudited)

12 Months Ended

Oct. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

Note 17 — Quarterly financial data (unaudited)

	First		Second		Third		Fourth
2014:
Sales	$	359,420	$	417,461	$	458,550	$	468,590
Gross margin		194,782		235,552		257,511		257,253
Net income		34,880		61,934		77,879		72,080
Earnings per share:
Basic		0.54		0.97		1.23		1.14
Diluted		0.54		0.96		1.21		1.13
2013:
Sales	$	347,043	$	382,100	$	402,960	$	410,818
Gross margin		197,229		216,938		225,083		226,894
Net income		42,011		54,605		65,424		59,777
Earnings per share:
Basic		0.65		0.85		1.02		0.93
Diluted		0.65		0.84		1.01		0.92

The sum of the per-share amounts for the four quarters may not always equal the annual per-share amounts due to differences in the average number of shares outstanding during the respective periods.

During the fourth quarter of 2014, we recorded pre-tax severance costs of $1,273. Additionally, we recorded a pre-tax gain of $1,005 related to a property insurance settlement.

During the second quarter of 2014, we recorded pre-tax severance costs of $1,278.

During the third quarter of 2013, we recorded a pre-tax gain of $2,116 on the sale of real estate in China.

During the first quarter of 2013, we recorded a favorable adjustment to unrecognized tax benefits of $900 primarily related to expiration of certain foreign statutes of limitations. On January 2, 2013, the American Taxpayer Relief Act of 2012 was enacted which retroactively reinstated and extended the Federal Research and Development Tax Credit (Federal R&D Tax Credit) from January 1, 2012 to December 31, 2013 and extended certain other tax provisions. As a result, our income tax provision for the first quarter of 2013 included a discrete tax benefit of $1,700 related to 2012.