| Quarterly Information (Unaudited) |
Note 10 – Quarterly Information (Unaudited)
The following quarterly information (in thousands, except per share data) includes all adjustments which management considers necessary for a fair presentation of such information. For interim quarterly financial statements, the provision for income taxes is estimated using the best available information for projected results for the entire year.
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Thirteen Weeks Ended
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Twenty-six Weeks Ended
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March 31, 2018
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June 30, 2018
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June 30, 2018
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As Reported
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As Revised
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As Reported
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As Revised
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As Reported
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As Revised
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Consolidated Statement of Income Data:
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Net sales
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$
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78,385
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$
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78,385
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$
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76,973
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$
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76,973
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$
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155,358
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$
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155,358
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Gross profit
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23,459
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23,219
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21,485
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20,522
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44,944
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43,741
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Income (loss) from operations
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1,609
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1,369
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487
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(476)
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2,096
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893
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Income (loss) before income taxes
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1,177
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937
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59
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(904)
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1,236
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33
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Net income (loss)
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$
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735
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$
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568
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$
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(485)
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$
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(797)
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$
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250
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$
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(229)
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Basic income (loss) from continuing operations per share as reported and adjusted
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$
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0.02
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$
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0.01
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$
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(0.02)
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$
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(0.02)
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$
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0.00
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$
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(0.01)
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Diluted income (loss) from continuing operations per share as reported and adjusted
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$
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0.02
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$
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0.01
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$
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(0.02)
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$
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(0.02)
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$
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0.00
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$
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(0.01)
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Shares used in computation of basic income (loss) from continuing operations per share as reported and adjusted
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34,821
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34,821
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34,972
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34,972
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34,896
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34,896
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Shares used in computation of diluted income (loss) from continuing operations per share as reported and adjusted
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38,066
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38,066
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34,972
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34,972
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35,258
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34,896
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Thirteen Weeks Ended
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Thirty-Nine Weeks Ended
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Thirteen Weeks Ended
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September 29, 2018
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September 29, 2018
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December 29, 2018
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As Reported
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As Revised
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As Reported
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As Revised
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As Reported
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Consolidated Statement of Income Data:
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Net sales
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$
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69,463
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$
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69,463
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$
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224,821
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$
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224,821
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$
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64,646
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Gross profit
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19,045
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18,414
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63,989
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62,155
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16,566
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Income (loss) from operations
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(579)
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(1,210)
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1,517
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(317)
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(4,689)
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Income (loss) before income taxes
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459
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(172)
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1,695
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(139)
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(5,078)
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Net income (loss)
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$
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438
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$
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(180)
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$
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688
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$
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(409)
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$
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(4,480)
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Basic income (loss) from continuing operations per share as reported and adjusted
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$
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0.01
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$
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(0.01)
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$
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0.02
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$
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(0.02)
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$
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(0.13)
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Diluted income (loss) from continuing operations per share as reported and adjusted
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$
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0.01
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$
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(0.01)
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$
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0.02
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$
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(0.02)
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$
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(0.13)
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Shares used in computation of basic income (loss) from continuing operations per share as reported and adjusted
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34,983
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34,983
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34,925
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34,925
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34,989
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Shares used in computation of diluted income (loss) from continuing operations per share as reported and adjusted
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35,201
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34,983
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35,279
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34,925
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34,989
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The company has recorded an error correction to recognize abnormal costs related to our customs issues. For the quarters ended March 31, 2018, June 30, 2018 and September 29, 2018, the Company revised net income by $0.2 million, $0.3 million and $0.6 million, respectively, to recognize the abnormal costs.
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Quarter Ended
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April 1,
2017
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July 1,
2017
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Sept. 30,
2017
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Dec. 30,
2017
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Consolidated Statement of Income Data:
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Net sales
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$
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80,833
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$
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80,208
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$
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73,807
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$
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68,518
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Gross profit
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23,787
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23,244
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21,877
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20,752
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Income (loss) from operations
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1,205
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1,509
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1,332
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|
589
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Income (loss) from continuing operations before income taxes
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843
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1,059
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|
947
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|
185
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Income (loss) from continuing operations
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816
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26,918
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919
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(4,079)
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Loss on discontinued operations
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(559)
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—
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—
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—
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Net income (loss)
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$
|
257
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$
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26,918
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$
|
919
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$
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(4,079)
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Basic income (loss) from continuing operations per share as reported and adjusted
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$
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0.02
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$
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0.76
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$
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0.02
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$
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(0.12)
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Diluted income (loss) from continuing operations per share as reported and adjusted
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$
|
0.02
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$
|
0.67
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$
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0.02
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$
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(0.12)
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Shares used in computation of basic income (loss) from continuing operations per share as reported and adjusted
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34,510
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35,332
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35,856
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35,070
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Shares used in computation of diluted income (loss) from continuing operations per share as reported and adjusted
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39,959
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|
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39,933
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|
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39,485
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|
|
35,070
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