XML 53 R43.htm IDEA: XBRL DOCUMENT v2.4.0.8
Unaudited Quarterly Financial Information (Tables)
 12 Months Ended
Jul. 31, 2014
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information
 
 
Quarters
 
 
First
 
Second
 
Third
 
Fourth
 
Total
2014
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
307,530

 
$
291,194

 
$
309,577

 
$
316,733

 
$
1,225,034

Gross margin
 
157,847

 
142,536

 
155,120

 
154,061

 
609,564

Operating income (loss) *
 
29,689

 
18,346

 
26,767

 
(116,013
)
 
(41,211
)
Earnings (loss) from continuing operations
 
18,135

 
10,517

 
20,183

 
(96,981
)
 
(48,146
)
Earnings (loss) from discontinued operations, net of income taxes **
 
5,795

 
5,907

 
3,904

 
(13,428
)
 
2,178

Net earnings (loss) from continuing operations per
 
 
 
 
 
 
 
 
 
 
Class A Common Share:
 
 
 
 
 
 
 
 
 
 
Basic***
 
$
0.35

 
$
0.20

 
$
0.39

 
$
(1.89
)
 
$
(0.93
)
Diluted***
 
$
0.35

 
$
0.20

 
$
0.39

 
$
(1.89
)
 
$
(0.93
)
Net earnings (loss) from discontinued operations per
 
 
 
 
 
 
 
 
 
 
Class A Common Share:
 
 
 
 
 
 
 
 
 
 
Basic***
 
$
0.11

 
$
0.11

 
$
0.08

 
$
(0.26
)
 
$
0.04

Diluted***
 
$
0.11

 
$
0.11

 
$
0.08

 
$
(0.26
)
 
$
0.04

2013
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
272,015

 
$
272,702

 
$
302,483

 
$
310,592

 
$
1,157,792

Gross margin
 
150,185

 
141,891

 
159,401

 
157,871

 
609,348

Operating income *
 
43,236

 
21,797

 
30,935

 
(178,524
)
 
(82,556
)
Earnings from continuing operations
 
26,291

 
(10,671
)
 
21,680

 
(175,557
)
 
(138,257
)
Earnings (loss) from discontinued operations, net of income taxes **
 
896

 
1,987

 
(17,447
)
 
(1,714
)
 
(16,278
)
Net earnings from continuing operations per
 
 
 
 
 
 
 
 
 
 
Class A Common Share:
 
 
 
 
 
 
 
 
 
 
Basic***
 
$
0.51

 
$
(0.21
)
 
$
0.42

 
$
(3.40
)
 
$
(2.70
)
Diluted***
 
$
0.51

 
$
(0.21
)
 
$
0.42

 
$
(3.40
)
 
$
(2.70
)
Net earnings (loss) from discontinued operations per
 
 
 
 
 
 
 
 
 
 
Class A Common Share:
 
 
 
 
 
 
 
 
 
 
Basic***
 
$
0.02

 
$
0.04

 
$
(0.34
)
 
$
(0.03
)
 
$
(0.32
)
Diluted***
 
$
0.02

 
$
0.04

 
$
(0.34
)
 
$
(0.03
)
 
$
(0.32
)

The quarterly financial data has been impacted by the reclassification of the Die-Cut business into discontinued operations. Refer to Note 15 within Item 8 for further information on discontinued operations.

* In fiscal 2014, the Company recorded before tax impairment charges of $148,551 in the fourth quarter ended July 31, 2014 and before tax restructuring charges of $6,840, $4,324, $3,039 and $809 in the first, second, third, and fourth quarters of fiscal 2014, respectively, for a total of $15,012. In fiscal 2013, the Company recorded before tax impairment charges of $204,448 in the fourth quarter ended July 31, 2013 and before tax restructuring charges of $1,933, $8,540 and $15,573 in the second, third and fourth quarters of fiscal 2013, respectively, for a total of $26,046.

**
In fiscal 2014, the Company recorded restructuring charges of $6,989 and a loss on the sale of the Die Cut business of $1,602 in discontinued operations in the fourth quarter ended July 31, 2014. In fiscal 2013, the Company recorded a $15,658 loss to write-down the Die-Cut business to its estimated fair value less costs to sell in the three months ended April 30, 2013.

*** The sum of the quarters does not equal the year-to-date total for fiscal 2014 and fiscal 2013 due to the quarterly changes in
weighted-average shares outstanding.