CarMax 2014 Annual Report Download - page 79

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75
17. SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Fiscal Year
(In thousands, except per share data) 2014 2014 2014 2014 (1) 2014 (1)
N
et sales and operating revenues $ 3,311,057 $ 3,245,552 $ 2,941,407 $ 3,076,283 $
12,574,299
Gross profit $ 448,096 $ 434,743 $ 381,721 $ 384,141 $ 1,648,701
CarMax Auto Finance income $ 87,019 $ 84,422 $ 83,905 $ 80,821 $ 336,167
Selling, general and administrative
expenses $ 290,189 $ 283,206 $ 284,366 $ 297,454 $ 1,155,215
N
et earnings $ 146,651 $ 140,274 $ 106,452 $ 99,209 $ 492,586
N
et earnings per share:
Basic $ 0.65 $ 0.63 $ 0.48 $ 0.45 $ 2.20
Diluted $ 0.64 $ 0.62 $ 0.47 $ 0.44 $ 2.16
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Fiscal Year
(In thousands, except per share data) 2013 2013 2013 2013 2013
N
et sales and operating revenues $ 2,774,420 $ 2,758,004 $ 2,602,446 $ 2,827,948 $
10,962,818
Gross profit $ 381,915 $ 367,993 $ 345,219 $ 369,235 $ 1,464,362
CarMax Auto Finance income $ 75,179 $ 75,676 $ 72,454 $ 75,958 $ 299,267
Selling, general and administrative
expenses $ 253,603 $ 254,674 $ 257,282 $ 265,475 $ 1,031,034
N
et earnings $ 120,746 $ 111,636 $ 94,681 $ 107,221 $ 434,284
N
et earnings per share:
Basic $ 0.53 $ 0.49 $ 0.41 $ 0.47 $ 1.90
Diluted $ 0.52 $ 0.48 $ 0.41 $ 0.46 $ 1.87
(1) As disclosed in Note 8, during the fourth quarter of fiscal 2014, we corrected our accounting related to cancellation
reserves for our ESP and GAP products. The correction of the out of period error consisted of $0.02 per share pertaining to
earlier quarters in fiscal 2014 and $0.05 per share pertaining to fiscal 2013 and fiscal 2012.