Quarterly Financial Data (Unaudited)

12 Months Ended

Aug. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

Note 20 — Quarterly Financial Data (Unaudited)

The following tables set forth selected unaudited consolidated quarterly financial information for the Company’s two most recent fiscal years.

Fiscal 2013	First Quarter		Second Quarter		Third Quarter		Fourth Quarter			Total
	(Dollars in thousands, except per share data)
Sales	$	118,022	$	110,082	$	121,719	$	117,427		$	467,250
Cost of sales		104,764		99,081		108,528		109,830			422,203
Gross margin		13,258		11,001		13,191		7,597			45,047
Net income (loss)		1,707		1,191		2,058		(949	)		4,007
Earnings (loss) per common share:
Basic	$	0.14	$	0.10	$	0.17	$	(0.08	)	$	0.32
Diluted	$	0.14	$	0.10	$	0.16	$	(0.08	)	$	0.32
Dividends declared		$      -		$      -		$      -		$      -			$      -

Fiscal 2012	First Quarter		Second Quarter			Third Quarter			Fourth Quarter			Total
	(Dollars in thousands, except per share data)
Sales	$	108,168	$	103,477		$	111,283		$	110,223		$	433,151
Cost of sales		96,360		94,076			99,829			98,976			389,241
Gross margin		11,808		9,401			11,454			11,247			43,910
Net income (loss)		592		(340	)		(5,452	)		(4,366	)		(9,566	)
Earnings (loss) per common share:
Basic	$	0.05	$	(0.03	)	$	(0.44	)	$	(0.35	)	$	(0.78	)
Diluted	$	0.05	$	(0.03	)	$	(0.44	)	$	(0.35	)	$	(0.78	)
Dividends declared		$      -		$      -			$      -			$      -			$      -

In the fourth quarter of fiscal 2012, the Company redeemed $28.9 million of its outstanding Series A Preferred Stock at the original issue price of $23.5 million plus accrued dividends of $5.4 million. As a result of the early redemption, the Company recorded accelerated discount accretion of $3.2 million and amortization of issuance costs of $0.6 million as a loss on redemption in other non-operating income (expense). See Note 6.