Summarized Quarterly Data (unaudited)

Each of our fiscal quarters consists of thirteen week periods, beginning on the first day after the end of the prior fiscal quarter, except that the fourth quarter in a year with 53 weeks (such as Fiscal 2017) includes 14 weeks. Following is a summary of our Fiscal 2017 and Fiscal 2016, quarterly results (in thousands, except per share amounts):



	First Quarter		Second Quarter		Third Quarter			Fourth Quarter			Total
Fiscal 2017
Net sales	$	272,363	$	284,709	$	235,960		$	293,179		$	1,086,211
Gross profit	$	159,410	$	165,969	$	125,176		$	162,077		$	612,632
Operating income	$	29,959	$	36,402	$	1,124		$	18,515		$	86,000
Net earnings from continuing operations	$	17,197	$	22,689	$	1,072		$	23,743		$	64,701
Income from discontinued operations, net of taxes	$	—	$	—	$	—		$	389		$	389
Net earnings	$	17,197	$	22,689	$	1,072		$	24,132		$	65,090
Net earnings from continuing operations per share:
Basic	$	1.04	$	1.37	$	0.06		$	1.43		$	3.90
Diluted	$	1.03	$	1.36	$	0.06		$	1.41		$	3.87
Income from discontinued operations, net of taxes, per share:
Basic	$	—	$	—	$	—		$	0.02		$	0.02
Diluted	$	—	$	—	$	—		$	0.02		$	0.02
Net earnings per share:
Basic	$	1.04	$	1.37	$	0.06		$	1.45		$	3.92
Diluted	$	1.03	$	1.36	$	0.06		$	1.44		$	3.89
Weighted average shares outstanding:
Basic	16,549		16,605		16,618			16,624			16,600
Diluted	16,695		16,700		16,735			16,802			16,734
Fiscal 2016
Net sales	$	256,235	$	282,996	$	222,308		$	261,049		$	1,022,588
Gross profit	$	151,464	$	164,795	$	118,054		$	145,991		$	580,304
Operating income (loss)	$	32,006	$	38,689	$	(327	)	$	19,516		$	89,884
Net earnings (loss) from continuing operations	$	20,177	$	23,875	$	(1,597	)	$	12,044		$	54,499
Loss from discontinued operations, net of taxes	$	—	$	—	$	—		$	(2,038	)	$	(2,038	)
Net earnings (loss)	$	20,177	$	23,875	$	(1,597	)	$	10,006		$	52,461
Net earnings (loss) from continuing operations per share:
Basic	$	1.22	$	1.45	$	(0.10	)	$	0.73		$	3.30
Diluted	$	1.21	$	1.44	$	(0.10	)	$	0.72		$	3.27



Loss from discontinued operations, net of taxes, per share:
Basic	$	—	$	—	$	—		$	(0.12	)	$	(0.12	)
Diluted	$	—	$	—	$	—		$	(0.12	)	$	(0.12	)
Net earnings (loss) per share:
Basic	$	1.22	$	1.45	$	(0.10	)	$	0.61		$	3.18
Diluted	$	1.21	$	1.44	$	(0.10	)	$	0.60		$	3.15
Weighted average shares outstanding:
Basic	16,503		16,515		16,531			16,537			16,522
Diluted	16,617		16,623		16,531			16,689			16,649

The sum of the quarterly net earnings (loss) per share amounts may not equal the amounts for the full year due to rounding. The Fourth Quarters of Fiscal 2017 and Fiscal 2016 included a LIFO accounting charge of $4.1 million and charge of $3.6 million, respectively. The full years of Fiscal 2017 and Fiscal 2016 included a LIFO accounting charge of $7.8 million and a LIFO accounting credit of $5.9 million, respectively. Additionally, the Fourth Quarter of Fiscal 2017 and Fiscal 2017 included a reduction of tax expense of $11.5 million related to the U.S. Tax Reform as disclosed in Note 8.