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Quarterly Results (unaudited)
 12 Months Ended
Apr. 29, 2017
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results (unaudited)
Quarterly Results (unaudited)
Quarterly results are determined in accordance with the accounting policies used for annual data and include certain items based upon estimates for the entire year. All fiscal quarters include results for 13 weeks except for the quarter ended August 1, 2015, which included 14 weeks.

 
Quarter Ended
 
April 29,
2017
 
January 28,
2017 (1)
 
October 29,
2016
 
July 30,
2016
Net sales
$
1,445,032

 
$
1,397,418

 
$
1,418,241

 
$
1,332,436

Gross profit
335,498

 
329,761

 
318,960

 
317,178

Operating income from continuing operations
96,155

 
46,554

 
79,803

 
65,416

Net income from continuing operations
61,357

 
27,769

 
45,756

 
38,906

Net income (loss) from discontinued operations
334

 
(3,229
)
 
—

 
—

Net income
61,691

 
24,540

 
45,756

 
38,906

Basic earnings (loss) per share:
 
 
 
 
 
 
 
Continuing operations
$
0.65

 
$
0.29

 
$
0.48

 
$
0.41

Discontinued operations
0.01

 
(0.03
)
 
—

 
—

Net basic earnings per share
$
0.66

 
$
0.26

 
$
0.48

 
$
0.41

Diluted earnings (loss) per share:
 
 
 
 
 
 
 
Continuing operations
$
0.65

 
$
0.29

 
$
0.48

 
$
0.40

Discontinued operations
—

 
(0.03
)
 
—

 
—

Net diluted earnings per share
$
0.65

 
$
0.26

 
$
0.48

 
$
0.40

 
Quarter Ended
 
April 30,
2016
 
January 30,
2016
 
October 31,
2015
 
August 1,
2015(2)
Net sales
$
1,453,770

 
$
1,400,853

 
$
1,389,210

 
$
1,142,870

Gross profit
363,741

 
339,864

 
330,899

 
288,244

Operating income from continuing operations
106,344

 
95,729

 
83,463

 
62,177

Net income from continuing operations
65,620

 
57,190

 
42,563

 
20,311

Net income (loss) from discontinued operations
—

 
(750
)
 
(7,142
)
 
9,392

Net income
65,620

 
56,440

 
35,421

 
29,703

Basic earnings (loss) per share:
 
 
 
 
 
 
 
Continuing operations
$
0.69

 
$
0.60

 
$
0.43

 
$
0.20

Discontinued operations
—

 
(0.01
)
 
(0.07
)
 
0.10

Net basic earnings per share
$
0.69

 
$
0.59

 
$
0.36

 
$
0.30

Diluted earnings (loss) per share:
 
 
 
 
 
 
 
Continuing operations
$
0.68

 
$
0.60

 
$
0.43

 
$
0.20

Discontinued operations
—

 
(0.01
)
 
(0.07
)
 
0.10

Net diluted earnings per share
$
0.68

 
$
0.59

 
$
0.36

 
$
0.30

(1)
In the third quarter of fiscal 2017, we recorded a pre-tax non-cash impairment charge of $36,312 within operating income from continuing operations. See Note 3 to the Consolidated Financial Statements for additional information.
(2)
During the first quarter of fiscal 2016, we acquired Animal Health International, Inc. Included in this quarter are approximately six weeks of results of operations from this acquisition. We incurred $9,302, or $0.09 per diluted share from continuing operations on an after-tax basis, of transaction costs related to the acquisition of Animal Health International, Inc. during this quarter. Also during this quarter, we approved a one-time repatriation of approximately $200,000 of foreign earnings. This one-time repatriation reduced the overall costs of funding the acquisition of Animal Health International, Inc. In addition, certain foreign cash at Patterson Medical was required to be repatriated as part of the sale transaction. The tax impact of the repatriation recorded during this quarter was $11,800, or $0.12 per diluted per share from continuing operations on an after-tax basis.