QUARTERLY FINANCIAL DATA (UNAUDITED)

A summary of the Company’s consolidated quarterly results of operations is as follows. The sum of the net income per share from continuing operations for each of the four quarters may not equal the net income per share for the full year, as presented, due to rounding. The Quarterly Financial Data reflects revisions to prior year balances due to the immaterial error corrections discussed in Note 1, Description of Business and Basis of Presentation, and Note 2, Correction of Immaterial Errors to Prior Period Financial Statements, in the Consolidated Financial Statements. See below for a reconciliation of the Company’s fiscal 2016 and 2015 quarterly consolidated statements of income from the previously reported amounts to the revised amounts.



	Three Months Ended
	June 30, 2016			March 31, 2016		December 31, 2015		September 30, 2015
Net sales	$	737,547		$	736,663	$	743,437	$	667,727
Gross profit	$	150,081		$	159,908	$	166,261	$	137,881
Operating income (loss)	$	(65,138	)	$	71,148	$	90,078	$	54,272
Income before income taxes and equity in earnings of equity-method investees	$	(77,572	)	$	72,863	$	80,713	$	42,404
Net income (loss)	$	(88,597	)	$	48,788	$	58,080	$	29,158

Net income (loss) per common share:
Basic	$	(0.86	)	$	0.47	$	0.56	$	0.28
Diluted	$	(0.86	)	$	0.47	$	0.56	$	0.28

The quarter ended June 30, 2016 was impacted by goodwill impairment charges recorded of $84,548 in the United Kingdom, impairment charges of $39,724 ($30,772 net of tax) related to indefinite-lived intangible assets (tradenames), as well as a $3,476 ($2,855 net of tax) impairment charge related to long-lived assets associated with the divestiture of certain portions of our own-label juice business in connection with our acquisition of Orchard House in the United Kingdom.

The quarter ended March 31, 2016 was impacted by a $9,013 ($6,231 net of tax) gain on fire insurance recovery as a result of fixed assets purchased with insurance proceeds that exceeded the net book value of fixed assets destroyed in the fire that occurred at our Tilda rice milling facility in the second quarter of fiscal 2015.



	Three Months Ended
	June 30, 2015		March 31, 2015		December 31, 2014		September 30, 2014
Net sales	$	680,565	$	652,351	$	679,759	$	596,938
Gross profit	$	155,725	$	149,609	$	150,359	$	107,162
Operating income	$	77,339	$	68,154	$	67,997	$	20,372
Income before income taxes and equity in earnings of equity-method investees	$	76,265	$	59,514	$	59,183	$	17,907
Net income	$	72,152	$	38,001	$	39,653	$	15,155

Net income per common share:
Basic	$	0.70	$	0.37	$	0.39	$	0.15
Diluted	$	0.69	$	0.37	$	0.38	$	0.15

The quarter ended June 30, 2015 was impacted by a $20,670 (after-tax) gain related to a tax restructuring, offset by $5,725 ($3,550 net of tax) for charges related to a legal settlement and $1,798 ($1,115 net of tax) for charges pertaining to the voluntary nut butter recall.

The quarters ended March 31, 2015, December 31, 2014, and September 30, 2014 were impacted by $742 ($460 net of tax), $7,267 ($4,506 after-tax) and $24,844 ($15,403 after-tax), respectively, for charges pertaining to the voluntary nut butter recall.

The quarter ended September 30, 2014 was impacted by a $6,747 gain ($4,183 after-tax) related to a pre-existing ownership interests in HPPC.

REVISED QUARTERLY CONSOLIDATED STATEMENTS OF INCOME

The following tables reconcile the Company’s fiscal 2016 and 2015 quarterly consolidated statements of income from the previously reported amounts to the revised amounts:



	Three Months Ended
	March 31, 2016									December 31, 2015							September 30, 2015
	As Reported			Adjustment			As Revised			As Reported		Adjustment			As Revised		As Reported			Adjustment			As Revised
Net sales	$	749,862		$	(13,199	)	$	736,663		$	752,589	$	(9,152	)	$	743,437	$	687,188		$	(19,461	)	$	667,727
Cost of sales	576,653			102			576,755			575,026		2,150			577,176		535,141			(5,295		)	529,846
Gross profit	173,209			(13,301		)	159,908			177,563		(11,302		)	166,261		152,047			(14,166		)	137,881
Selling, general and administrative expenses	93,915			(15,025		)	78,890			82,607		(13,626		)	68,981		86,254			(10,704		)	75,550
Amortization of acquired intangibles	4,586			(33		)	4,553			4,736		(32		)	4,704		4,672			(33		)	4,639
Acquisition related expenses, restructuring and integration charges	5,701			(384		)	5,317			2,498		—			2,498		3,653			(233		)	3,420
Operating income	69,007			2,141			71,148			87,722		2,356			90,078		57,468			(3,196		)	54,272
Interest and other financing expense, net	6,920			—			6,920			6,131		—			6,131		6,467			—			6,467
Other (income)/ expense, net	378			—			378			3,234		—			3,234		5,401			—			5,401
Gain on fire insurance recovery	(9,013		)	—			(9,013		)	—		—			—		—			—			—
Income before income taxes and equity in earnings of equity- method investees	70,722			2,141			72,863			78,357		2,356			80,713		45,600			(3,196		)	42,404
Provision for income taxes	21,576			2,338			23,914			21,379		1,223			22,602		14,382			(1,052		)	13,330
Equity in net income of equity-method investees	161			—			161			31		—			31		(84		)	—			(84		)
Net income	$	48,985		$	(197	)	$	48,788		$	56,947	$	1,133		$	58,080	$	31,302		$	(2,144	)	$	29,158

Net income per common share:
Basic	$	0.47		$	—		$	0.47		$	0.55	$	0.01		$	0.56	$	0.30		$	(0.02	)	$	0.28
Diluted	$	0.47		$	—		$	0.47		$	0.55	$	0.01		$	0.56	$	0.30		$	(0.02	)	$	0.28

Weighted average common shares outstanding:
Basic	103,265			103,265			103,265			103,017		103,017			103,017		102,807			102,807			102,807
Diluted	104,087			104,087			104,087			104,161		104,161			104,161		104,258			104,258			104,258

* Net income/(loss) per common share may not add in certain periods due to rounding



	Three Months Ended
	June 30, 2015									March 31, 2015
	As Reported			Adjustment			As Revised			As Reported			Adjustment			As Revised
Net sales	$	698,136		$	(17,571	)	$	680,565		$	662,739		$	(10,388	)	$	652,351
Cost of sales	530,439			(5,599		)	524,840			504,990			(2,248		)	502,742
Gross profit	167,697			(11,972		)	155,725			157,749			(8,140		)	149,609
Selling, general and administrative expenses	85,904			(14,567		)	71,337			83,068			(10,558		)	72,510
Amortization of acquired intangibles	4,494			(32		)	4,462			4,679			(32		)	4,647
Tradename impairment	—			—			—			5,510			(5,510		)	—
Acquisition related expenses, restructuring and integration charges	2,587			—			2,587			4,298			—			4,298
Operating income	74,712			2,627			77,339			60,194			7,960			68,154
Interest and other financing expense, net	6,420			—			6,420			6,298			—			6,298
Other (income)/expense, net	(3,968		)	—			(3,968		)	3,886			—			3,886
Gain on sale of business	(1,378		)	—			(1,378		)	(1,544		)	—			(1,544		)
Income before income taxes and equity in earnings of equity-method investees	73,638			2,627			76,265			51,554			7,960			59,514
Provision for income taxes	2,740			1,547			4,287			18,147			3,353			21,500
Equity in net income (loss) of equity-method investees	(174		)	—			(174		)	13			—			13
Net income	$	71,072		$	1,080		$	72,152		$	33,394		$	4,607		$	38,001

Net income per common share:
Basic	$	0.69		$	0.01		$	0.70		$	0.33		$	0.05		$	0.37
Diluted	$	0.68		$	0.01		$	0.69		$	0.32		$	0.04		$	0.37

Weighted average common shares outstanding:
Basic	102,610			102,610			102,610			102,252			102,252			102,252
Diluted	104,005			104,005			104,005			103,796			103,796			103,796

* Net income/(loss) per common share may not add in certain periods due to rounding



	Three Months Ended
	December 31, 2014									September 31, 2014
	As Reported			Adjustment			As Revised			As Reported			Adjustment			As Revised
Net sales	$	696,383		$	(16,624	)	$	679,759		$	631,257		$	(34,319	)	$	596,938
Cost of sales	529,056			344			529,400			505,413			(15,637		)	489,776
Gross profit	167,327			(16,968		)	150,359			125,844			(18,682		)	107,162
Selling, general and administrative expenses	88,621			(10,377		)	78,244			90,924			(10,189		)	80,735
Amortization of acquired intangibles	4,303			(36		)	4,267			4,509			(38		)	4,471
Tradename impairment	—			—			—			—			—			—
Acquisition related expenses, restructuring and integration charges	391			(540		)	(149		)	1,584			—			1,584
Operating income	74,012			(6,015		)	67,997			28,827			(8,455		)	20,372
Interest and other financing expense, net	6,542			—			6,542			6,762			(49		)	6,713
Other expense, net	2,272			—			2,272			2,499			—			2,499
Gain on sale of business	—			—			—			(5,334		)	(1,413		)	(6,747		)
Income before income taxes and equity in earnings of equity-method investees	65,198			(6,015		)	59,183			24,900			(6,993		)	17,907
Provision for income taxes	20,931			(1,093		)	19,838			6,065			(3,154		)	2,911
Equity in net loss of equity-method investees	(308		)	—			(308		)	(20		)	(139		)	(159		)
Net income	$	44,575		$	(4,922	)	$	39,653		$	18,855		$	(3,700	)	$	15,155

Net income per common share:
Basic	$	0.44		$	(0.05	)	$	0.39		$	0.19		$	(0.04	)	$	0.15
Diluted	$	0.43		$	(0.05	)	$	0.38		$	0.18		$	(0.04	)	$	0.15

Weighted average common shares outstanding:
Basic	101,267			101,267			101,267			100,682			100,682			100,682
Diluted	103,226			103,226			103,226			102,656			102,656			102,656

* Net income/(loss) per common share may not add in certain periods due to rounding