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Quarterly Financial Data (unaudited)
 9 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (Unaudited). As discussed in Note 2, the Company has restated its quarters in the 2015 transition period and fiscal 2015. The quarterly unaudited financial results presented in the table below reflect the impact of the restatement and the restatement adjustments are presented in Note 2:
 
 
Nine Months Ended December 31, 2015
 
 
Quarter Ended
 
 
July 5
 
October 4
 
December 31
 
 
As Restated
 
As Restated
 
As Restated
Sales
 
$
1,103,578

 
$
1,143,246

 
$
1,144,560

Gross profit
 
$
222,861

 
$
208,817

 
$
242,470

Income from continuing operations
 
$
57,836

 
$
74,047

 
$
53,296

Income from discontinued operations
 
$
—

 
$
—

 
$
1,008

Net income attributable to Orbital ATK, Inc.
 
$
57,836

 
$
74,047

 
$
54,304

 
 
 
 
 
 
 
Basic earnings per common share from: (1)
 
 
 
 
 
 
Continuing operations
 
$
0.98

 
$
1.26

 
$
0.90

Discontinued operations
 
—

 
—

 
0.02

Net income attributable to Orbital ATK, Inc.
 
$
0.98

 
$
1.26

 
$
0.92

Diluted earnings per common share from: (1)
 
 
 
 
 
 
Continuing operations
 
$
0.97

 
$
1.25

 
$
0.89

Discontinued operations
 
—

 
—

 
0.02

Net income attributable to Orbital ATK, Inc.
 
$
0.97

 
$
1.25

 
$
0.91

Cash dividends per common share:
 
 
 
 
 
 
Declared
 
$
—

 
$
0.26

 
$
0.26

Paid
 
$
0.26

 
$
0.26

 
$
0.26


 
Year Ended March 31, 2015
 
Quarter Ended
 
June 29
 
September 28
 
December 28
 
March 31
 
As Restated
 
As Restated
 
As Restated
 
As Restated
Sales
$
694,956

 
$
722,012

 
$
724,541

 
$
971,150

Gross profit
$
158,239

 
$
158,195

 
$
161,196

 
$
223,273

Income (loss) from continuing operations
$
28,937

 
$
37,894

 
$
42,373

 
$
(39,353
)
Income from discontinued operations
$
53,825

 
$
53,895

 
$
492

 
$
16,837

Net income (loss) attributable to Orbital ATK, Inc.
$
82,762

 
$
91,789

 
$
42,865

 
$
(22,516
)
Basic earnings (loss) per common share from:(1)
 
 
 
 
 
 
 
Continuing operations
$
0.91

 
$
1.20

 
$
1.33

 
$
(0.84
)
Discontinued operations
1.70

 
1.70

 
0.02

 
0.36

Net income (loss) attributable to Orbital ATK, Inc.
$
2.61

 
$
2.90

 
$
1.35

 
$
(0.48
)
Diluted earnings (loss) per common share from:(1)
 
 
 
 
 
 
 
Continuing operations
$
0.87

 
$
1.18

 
$
1.32

 
$
(0.84
)
Discontinued operations
1.63

 
1.68

 
0.02

 
0.36

Net income (loss) attributable to Orbital ATK, Inc.
$
2.50

 
$
2.86

 
$
1.34

 
$
(0.48
)
Cash dividends per common share:
 
 
 
 
 
 
 
Declared
$
0.32

 
$
0.32

 
$
0.32

 
$
0.58

Paid
$
0.32

 
$
0.32

 
$
0.32

 
$
0.32

_________________________________________
(1)
Quarterly earnings (loss) per common share amounts may not total to annual earnings per common share amounts because quarterly and annual earnings per share are calculated separately based on earnings and basic and diluted weighted-average common shares outstanding during the respective periods.
In the fourth quarter of fiscal 2015, the Company completed the Distribution and Merger. Accordingly, the results of continuing operations include the results of Orbital from the date of the Merger. In addition, the Company recorded $34,900 of transaction fees for advisory, legal and accounting services in connection with the Distribution and Merger.
In the fourth quarter of fiscal 2015, the Company also recorded a $25,000 litigation charge pertaining to a Raytheon lawsuit settlement, a $34,300 goodwill impairment charge and a $26,626 loss on extinguishment of debt.
In the quarter ended October 4, 2015, the Company recorded a $50,000 gain on settlement of a dispute with a supplier pertaining to the Antares rocket used in the CRS I contract.