Summarized Quarterly Data (unaudited)

12 Months Ended

Feb. 02, 2013

Summarized Quarterly Data (unaudited)

Summarized Quarterly Data (unaudited)

Note 12. 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 includes 14 weeks. Following is a summary of our fiscal 2012 and fiscal 2011 quarterly results (in thousands, except per share amounts):

	First Quarter		Second Quarter			Third Quarter		Fourth Quarter		Total
Fiscal 2012
Net sales	$	230,953	$	206,929		$	181,414	$	236,246	$	855,542
Gross profit	$	129,214	$	118,280		$	96,822	$	125,241	$	469,557
Operating income	$	32,788	$	20,318		$	5,920	$	9,945	$	68,971
Earnings from continuing operations	$	18,002	$	5,028		$	3,010	$	5,277	$	31,317
Net earnings	$	18,002	$	5,028		$	3,010	$	5,277	$	31,317
Earnings from continuing operations per share:
Basic and diluted	$	1.09	$	0.30		$	0.18	$	0.32	$	1.89
Net earnings per share:
Basic and diluted	$	1.09	$	0.30		$	0.18	$	0.32	$	1.89
Weighted average shares outstanding:
Basic		16,531		16,554			16,580		16,585		16,563
Diluted		16,552		16,570			16,591		16,608		16,586
Fiscal 2011
Net sales	$	208,308	$	180,646		$	170,280	$	199,679	$	758,913
Gross profit	$	117,660	$	102,937		$	88,740	$	103,632	$	412,969
Operating income	$	30,713	$	17,711		$	6,816	$	13,567	$	68,807
Earnings from continuing operations	$	17,060	$	3,520		$	1,611	$	7,052	$	29,243
Net earnings (loss) from discontinued operations, net of taxes	$	1,040	$	(916	)	$	13	$	—	$	137
Net earnings	$	18,100	$	2,604		$	1,624	$	7,052	$	29,380
Earnings from continuing operations per share:
Basic and diluted	$	1.03	$	0.21		$	0.10	$	0.43	$	1.77
Earnings (loss) from discontinued operations, net of taxes per share:
Basic and diluted	$	0.06	$	(0.06	)	$	0.00	$	0.00	$	0.01
Net earnings per share:
Basic and diluted	$	1.10	$	0.16		$	0.10	$	0.43	$	1.78
Weighted average shares outstanding:
Basic		16,515		16,514			16,502		16,509		16,510
Diluted		16,525		16,531			16,517		16,528		16,529

        The sum of the quarterly earnings from continuing operations per common share, earnings from discontinued operations per common share and net earnings per common share amounts may not equal the amounts for the full year due to rounding. Additionally, the sum of earnings from continuing operations per common share and earnings from discontinued operations per common share may not equal net earnings per common share for each quarter due to rounding. Fiscal 2012 includes 53 weeks, with the fourth quarter including a 14 week period. Fiscal 2011 includes 52 weeks with the fourth quarter including a 13 week period.

        The second quarter of fiscal 2012 included a $9.1 million loss on the redemption of our senior secured notes, while the fourth quarter of fiscal 2012 included the following significant items which impacted earnings from continuing operations for the quarter: (1) a LIFO accounting charge of $4.5 million; and (2) a $4.5 million charge due to the change in fair value of contingent consideration, compared to a $0.6 million charge in each of the first three quarters in fiscal 2012 and each quarter in fiscal 2011.

        The first quarter of fiscal 2011 included $1.0 million of charges resulting from the write-up of acquired inventory from cost to fair value pursuant to the purchase method of accounting and the second quarter and third quarter of fiscal 2011 included an $8.2 million loss and $0.8 million loss, respectively, on the repurchase of senior secured notes. Additionally, the fourth quarter of fiscal 2011 included the following significant items which impacted earnings from continuing operations for the quarter: (1) a LIFO accounting charge of $5.8 million; and (2) a life insurance death benefit proceeds of $1.2 million.