XML 49 R30.htm IDEA: XBRL DOCUMENT v3.6.0.2
QUARTERLY RESULTS (Unaudited)
 12 Months Ended
Oct. 30, 2016
Quarterly Financial Information Disclosure [Abstract]  
QUARTERLY RESULTS (Unaudited)
QUARTERLY RESULTS (Unaudited)
Shown below are selected unaudited quarterly data (in thousands, except per share data):
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
FISCAL YEAR 2016
 
 
 
 
 
 
 
 
Sales
$
370,014

 
$
372,247

 
$
462,353

 
$
480,314

 
Gross profit
$
89,716

 
$
89,375

 
$
127,951

 
$
120,849

 
Net income
$
5,892

 
$
2,420

 
$
23,715

 
$
19,001

 
Net income allocated to participating securities
$
(57
)
 
$
(23
)
 
$
(165
)
 
$
(105
)
 
Net income applicable to common shares
$
5,835

 
$
2,397

 
$
23,550

 
$
18,896

(3) 
Income per common share:(1)(2)
 
 
 
 
 
 
 
 
Basic
$
0.08

 
$
0.03

 
$
0.32

 
$
0.27

 
Diluted
$
0.08

 
$
0.03

 
$
0.32

 
$
0.27

 
 
 
 
 
 
 
 
 
 
FISCAL YEAR 2015
 
 
 
 
 
 
 
 
Sales
$
322,926

 
$
360,147

 
$
420,789

 
$
459,831

 
Gross profit
$
72,139

 
$
75,889

 
$
100,687

 
$
123,601

 
Net income (loss)
$
(320
)
 
$
(7,488
)
 
$
7,220

 
$
18,407

 
Net income allocated to participating securities
$
—

 
$
—

 
$
(60
)
 
$
(113
)
 
Net income (loss) applicable to common shares
$
(320
)
 
$
(7,488
)
 
$
7,160

 
$
18,294

 
Income (loss) per common share:(1)(2)
 
 
 
 
 
 
 
 
Basic
$
—

 
$
(0.10
)
 
$
0.10

 
$
0.25

 
Diluted
$
—

 
$
(0.10
)
 
$
0.10

 
$
0.25

 
(1)
The sum of the quarterly income per share amounts may not equal the annual amount reported, as per share amounts are computed independently for each quarter and for the full year based on the respective weighted average common shares outstanding.
(2)
Excludes net income allocated to participating securities during each of the quarters of fiscal 2016 and the third and fourth quarters of fiscal 2015. These participating securities are treated as a separate class in computing earnings per share (see Note 8 — Earnings per Common Share).
(3)
The fourth quarter of fiscal 2016 includes the correction of a prior period accounting error of $0.5 million ($0.8 million, before tax). See Note 6 — Goodwill and Other Intangible Assets.
The quarterly income (loss) before income taxes were impacted by the following special income (expense) items:
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
FISCAL YEAR 2016
 
 
 
 
 
 
 
Restructuring and impairment charges
$
(1,510
)
 
$
(1,149
)
 
$
(778
)
 
$
(815
)
Strategic development and acquisition related costs
(681
)
 
(579
)
 
(819
)
 
(590
)
Gain (loss) on sale of assets and asset recovery
725

 
927

 
52

 
(62
)
Gain from bargain purchase
1,864

 
—

 
—

 
—

Total special charges in income before income taxes
$
398

 
$
(801
)
 
$
(1,545
)
 
$
(1,467
)
 
 
 
 
 
 
 
 
FISCAL YEAR 2015
  

 
  

 
  

 
  

Restructuring and impairment charges
$
(1,480
)
 
$
(1,465
)
 
$
(750
)
 
$
(7,611
)
Strategic development and acquisition related costs
(1,729
)
 
(629
)
 
(700
)
 
(1,143
)
Gain on legal settlements
—

 
—

 
—

 
3,765

Fair value adjustment of acquired inventory
(972
)
 
(386
)
 
(1,000
)
 
—

Amortization of short-lived acquired intangibles
—

 
(2,720
)
 
(3,334
)
 
(2,346
)
Total special charges in income before income taxes
$
(4,181
)
 
$
(5,200
)
 
$
(5,784
)
 
$
(7,335
)