Dillard's 2010 Annual Report Download - page 74

Download and view the complete annual report

Please find page 74 of the 2010 Dillard's annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 79

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79

Notes to Consolidated Financial Statements (Continued)
16. Quarterly Results of Operations (unaudited)
Fiscal 2010, Three Months Ended
(in thousands of dollars, except per share data) May 1 July 31 October 30 January 29
Net sales ............................... $1,453,596 $1,388,910 $1,344,118 $1,934,337
Gross profit ............................. 539,335 458,474 486,644 660,445
Net income ............................. 48,834 6,828 14,381 109,577
Diluted earnings per share:
Net income ............................ $ 0.68 $ 0.10 $ 0.22 $ 1.75
Fiscal 2009, Three Months Ended
(in thousands of dollars, except per share data) May 2 August 1 October 31 January 30
Net sales ............................... $1,473,870 $1,427,771 $1,359,331 $1,833,976
Gross profit ............................. 494,291 426,760 466,323 604,682
Net income (loss) ......................... 7,663 (26,657) 8,011 79,514
Diluted earnings per share:
Net income (loss) ....................... $ 0.10 $ (0.36) $ 0.11 $ 1.08
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 2010 and fiscal 2009 includes the following items:
First Quarter
2010
• a $2.2 million pretax charge ($1.4 million after tax or $0.02 per share) for asset impairment and
store closing charges related to the write-down of one property currently held for sale.
2009
• a $1.5 million pretax gain ($0.9 million after tax or $0.01 per share) on the early extinguishment
of debt related to the repurchase of certain unsecured notes.
Second Quarter
2010
• a $4.0 million pretax gain ($2.6 million after tax or $0.04 per share) related to the sale of a retail
store location.
• a $2.0 million income tax benefit ($0.03 per share) related to a state administrative settlement.
Third Quarter
2010
• a $1.1 million loss ($0.7 million after tax or $0.02 per share) related to the sale of a closed store.
• a $1.2 million income tax benefit ($0.02 per share) for a decrease in a capital loss valuation
allowance.
F-30