Big Lots 2007 Annual Report Download - page 164

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76
BIG LOTS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 13 — Selected Quarterly Financial Data (Unaudited)
The fourth quarter of fiscal year 2006 was 14 weeks. All other quarters were 13 weeks. Summarized quarterly
financial data for 2007 and 2006 was as follows:
Fiscal Year 2007 First Second Third Fourth Year
(In thousands, except per share amounts) (a)
Net sales . . . . . . . . . . . . . . . . . . . . . . . $1,128,399 $1,084,891 $ 1,030,638 $ 1,412,374 $ 4,656,302
Gross margin . . . . . . . . . . . . . . . . . . . 446,913 421,074 411,806 560,550 1,840,343
Income from continuing
operations .................... 29,024 22,135 14,373 85,648 151,180
Income from discontinued
operations .................... (260) 1,249 (75) 6,367 7,281
Net income . . . . . . . . . . . . . . . . . . . . . 28,764 23,384 14,298 92,015 158,461
Earnings per share — basic:
Continuing operations ........... 0.26 0.21 0.14 0.97 1.49
Discontinued operations ......... — 0.01 — 0.07 0.07
0.26 0.22 0.14 1.05 1.56
Earnings per share — diluted:
Continuing operations ........... 0.26 0.21 0.14 0.97 1.47
Discontinued operations ......... — 0.01 — 0.07 0.07
$ 0.26 $ 0.22 $ 0.14 $ 1.04 $ 1.55
Fiscal Year 2006 First Second Third Fourth Year
(In thousands, except per share amounts) (a)
Net sales . . . . . . . . . . . . . . . . . . . . . . . $1,091,622 $1,056,535 $1,049,537 $1,545,354 $4,743,048
Gross margin . . . . . . . . . . . . . . . . . . . 438,322 412,293 415,345 625,472 1,891,432
Income from continuing
operations .................... 14,504 4,704 1,819 91,591 112,618
Income (loss) from discontinued
operations .................... (791) (405) (85) 12,708 11,427
Net income . . . . . . . . . . . . . . . . . . . . . 13,713 4,299 1,734 104,299 124,045
Earnings per share — basic:
Continuing operations ........... 0.13 0.04 0.02 0.84 1.02
Discontinued operations ......... (0.01) — — 0.12 0.10
0.12 0.04 0.02 0.96 1.12
Earnings per share — diluted:
Continuing operations ........... 0.13 0.04 0.02 0.83 1.01
Discontinued operations ......... (0.01) — — 0.11 0.10
$ 0.12 $ 0.04 $ 0.02 $ 0.94 $ 1.11
(a) Earnings per share calculations for each quarter were based on the applicable weighted-average shares
outstanding for each period and the sum of the earnings per share for the four quarters may not necessarily
be equal to the full year earnings per share amount.
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
Not applicable.