Columbia Sportswear 2012 Annual Report Download - page 73

69
SUPPLEMENTARY DATA—QUARTERLY FINANCIAL DATA (Unaudited)
The following table summarizes the Company’s quarterly financial data for the past two years ended December 31,
2012 (in thousands, except per share amounts):
2012 First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 333,141 $ 290,357 $ 545,005 $ 501,060
Gross profit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 147,936 117,868 243,685 206,905
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,898 (7,901) 64,375 39,487
Earnings (loss) per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.12 $ (0.23) $ 1.90 $ 1.16
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.11 (0.23) 1.88 1.15
2011 First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 333,086 $ 268,030 $ 566,791 $ 526,078
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 149,536 112,413 249,585 223,774
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,770 (13,558) 67,539 36,728
Earnings (loss) per share
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.38 $ (0.40) $ 2.00 $ 1.09
Diluted. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.37 (0.40) 1.98 1.08
Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
DISCLOSURE
None.
Item 9A. CONTROLS AND PROCEDURES
Evaluation of Disclosure Controls and Procedures
Our management has evaluated, under the supervision and with the participation of our chief executive officer and
chief financial officer, the effectiveness of our disclosure controls and procedures as of the end of the period covered by
this report pursuant to Rule 13a-15(b) under the Securities Exchange Act of 1934 (the “Exchange Act”). Based on that
evaluation, our chief executive officer and chief financial officer have concluded that, as of the end of the period covered
by this report, our disclosure controls and procedures were effective in ensuring that information required to be disclosed
in our Exchange Act reports is (1) recorded, processed, summarized and reported in a timely manner, and (2) accumulated
and communicated to our management, including our chief executive officer and chief financial officer, as appropriate to
allow timely decisions regarding required disclosure.
Design and Evaluation of Internal Control Over Financial Reporting
Report of Management
Our management is responsible for establishing and maintaining adequate internal control over financial reporting.
All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems
determined to be effective can provide only reasonable assurance with respect to financial statement preparation and
presentation.
Under the supervision and with the participation of our management, we assessed the effectiveness of our internal
control over financial reporting as of December 31, 2012. In making this assessment, we used the criteria set forth by the
Committee of Sponsoring Organizations of the Treadway Commission in Internal Control – Integrated Framework. Based
on our assessment we believe that, as of December 31, 2012, the Company’s internal control over financial reporting is
effective based on those criteria.