XML 51 R28.htm IDEA: XBRL DOCUMENT v2.4.0.8
Summarized Quarterly Data (Unaudited)
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
Summarized Quarterly Data (Unaudited)
 
Fiscal Year 2013 Quarters
 
1st
 
2nd
 
3rd
 
4th
 
Total
 
(In thousands, except per share data)
Net sales
$
287,756

 
$
249,646

 
$
178,229

 
$
127,170

 
$
842,801

Gross profit(1)
$
130,436

 
$
95,652

 
$
59,409

 
$
29,261

 
$
314,758

Net income (loss)(1)(2)
$
41,660

 
$
10,071

 
$
(21,153
)
 
$
(49,499
)
 
$
(18,921
)
Dividends on convertible preferred stock
$
783

 
$
783

 
$
1,766

 
$
—

 
$
3,332

Net income (loss) allocable to common shareholders(1)(2)
$
40,877

 
$
9,288

 
$
(22,919
)
 
$
(49,499
)
 
$
(22,253
)
Earnings (loss) per common share(6)
 
 
 
 
 
 
 
 
 
Basic(1)(2)
$
0.58

 
$
0.13

 
$
(0.32
)
 
$
(0.65
)
 
$
(0.31
)
Diluted(1)(2)
$
0.47

 
$
0.12

 
$
(0.32
)
 
$
(0.65
)
 
$
(0.31
)
 
Fiscal Year 2012 Quarters
 
1st
 
2nd
 
3rd
 
4th
 
Total
 
(In thousands, except per share data)
Net sales
$
285,098

 
$
281,123

 
$
147,906

 
$
119,938

 
$
834,065

Gross profit(3)
$
124,371

 
$
110,653

 
$
3,800

 
$
9,344

 
$
248,168

Net income (loss)(3)(4)(5)
$
31,802

 
$
2,799

 
$
(86,798
)
 
$
(70,749
)
 
$
(122,946
)
Dividends on convertible preferred stock
$
2,625

 
$
2,625

 
$
2,414

 
$
783

 
$
8,447

Net income (loss) allocable to common shareholders(3)(4)(5)
$
29,177

 
$
174

 
$
(89,212
)
 
$
(71,532
)
 
$
(131,393
)
Earnings (loss) per common share(6)
 
 
 
 
 
 
 
 
 
Basic(3)(4)(5)
$
0.45

 
$
—

 
$
(1.31
)
 
$
(1.01
)
 
$
(1.96
)
Diluted(3)(4)(5)
$
0.37

 
$
—

 
$
(1.31
)
 
$
(1.01
)
 
$
(1.96
)
 
(1)
During the first, second, third and fourth quarters of 2013, the Company recognized charges of $2,282,000, $4,087,000, $1,005,000 and $3,775,000, respectively, in cost of goods sold in connection with the Company’s Cost Reduction Initiatives (see Note 3).
(2)
During the first, second, third and fourth quarters of 2013, the Company recognized charges of $2,158,000 ($0.03 per share), $3,074,000 ($0.04 per share), $1,142,000 ($0.02 per share) and $3,808,000 ($0.05 per share), respectively, in after-tax charges in connection with the Company's Cost Reduction Initiatives (see Note 3).
(3)
During the second, third and fourth quarters of 2012, the Company recognized charges of $961,000, $27,302,000, and $7,965,000, respectively, in cost of goods sold in connection with the Company’s Cost Reduction Initiatives (see Note 3).
(4)
During the first quarter of 2012, the Company recognized an after-tax gain of $4,069,000 ($0.06 per share) in connection with the sale of the Top-Flite and Ben Hogan brands (see Note 8).
(5)
During the second, third and fourth quarters of 2012, the Company recognized after-tax charges of $2,855,000 ($0.04 per share), $21,576,000 ($0.32 per share), and $8,798,000 ($0.13 per share), respectively, in connection with the Company’s Cost Reduction Initiatives (see Note 3).
(6)
Earnings per share is computed individually for each of the quarters presented; therefore, the sum of the quarterly earnings per share may not necessarily equal the total for the year.