Dillard's 2005 Annual Report Download - page 65

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16. Quarterly Results of Operations (unaudited)
Fiscal 2005, Three Months Ended
(in thousands of dollars, except per share data) April 30 July 30 October 29 January 28
Net sales ....................................... $1,802,999 $1,691,878 $1,727,106 $2,338,208
Gross profit ..................................... 632,727 547,853 579,997 785,593
Net income (loss) ................................ 38,040 (12,339) (2,679) 98,463
Diluted earnings per share:
Net income (loss) ................................ 0.46 (0.15) (0.03) 1.24
Fiscal 2004, Three Months Ended
(in thousands of dollars, except per share data) May 1 July 31 October 30 January 29
Net sales ....................................... $1,854,395 $1,671,380 $1,698,897 $2,303,900
Gross profit ..................................... 666,895 525,534 557,999 760,379
Net income (loss) ................................ 53,762 (26,029) (18,688) 108,621
Diluted earnings per share:
Net income (loss) ................................ 0.64 (0.31) (0.23) 1.30
Total of quarterly earnings per common share may not equal the annual amount because net income per
common share is calculated independently for each quarter.
Quarterly information for fiscal 2005 and fiscal 2004 includes the following items:
First Quarter
2005
• a $0.4 million pretax charge ($0.3 million after tax or $0.00 per diluted share) for asset impairment and
store closing charges related to certain stores.
2004
• a $4.7 million pretax charge ($3.0 million after tax or $0.04 per diluted share) for asset impairment and
store closing charges related to certain stores.
Second Quarter
2005
• a $6.0 million pretax charge ($3.8 million after tax or $0.05 per diluted share) for asset impairment and
store closing charges related to certain stores.
Fourth Quarter
2005
• a $55.3 million pretax charge ($35.6 million after tax or $0.45 per diluted share) for asset impairment
and store closing charges related to certain stores.
• a pretax gain of $28.2 million ($18.0 million after tax or $0.23 per diluted share) related to insurance
proceeds received from Hurricanes Katrina and Rita (see Note 13 of the Notes to Consolidated Financial
Statements).
• a $45.4 million net tax benefit ($0.57 per diluted share) from the sale of one of the Company’s
subsidiaries (see Note 14 of the Notes to Consolidated Financial Statements).
F-25