Dick's Sporting Goods 2010 Annual Report Download - page 87

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16. Quarterly Financial Information (Unaudited)
Summarized quarterly financial information for fiscal 2010 and 2009 is as follows (in thousands, except earnings per share data):
First
Quarter Second
Quarter Third
Quarter Fourth
Quarter
Fiscal 2010
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,047,531 $1,226,063 $1,078,984 $1,518,914
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 302,220 360,145 307,071 479,594
Income from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46,992 88,058 28,208 145,991
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26,209 51,516 16,863 87,489
Earnings per common share:
Basic (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.23 $ 0.44 $ 0.15 $ 0.74
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.22 $ 0.43 $ 0.14 $ 0.71
Weighted average common shares outstanding:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115,155 115,815 116,024 117,952
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120,387 121,039 121,408 124,063
First
Quarter Second
Quarter Third
Quarter Fourth
Quarter
Fiscal 2009
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $959,662 $1,126,767 $989,816 $1,336,590
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 250,423 309,901 266,831 389,781
Income from operations (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,917 63,827 31,756 113,069
Net income (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,221 38,925 18,854 67,360
Earnings per common share:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.09 $ 0.35 $ 0.17 $ 0.59
Diluted (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.09 $ 0.33 $ 0.16 $ 0.56
Weighted average common shares outstanding:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112,359 112,473 113,266 114,640
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116,220 117,230 118,704 119,666
(1) Quarterly results for fiscal 2010 and 2009 do not add to full year results due to rounding.
Dick’s Sporting Goods, Inc. ¬2010 Annual Report 67
DICK’S SPORTING GOODS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)