Callaway 2009 Annual Report Download - page 117

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Note 20. Summarized Quarterly Data (Unaudited)
Fiscal Year 2009 Quarters
1st 2nd 3rd 4th Total
(In thousands, except per share data)
Net sales ...................................... $271,864 $302,219 $190,864 $185,852 $950,799
Gross profit .................................... $116,181 $109,848 $ 59,577 $ 58,157 $343,763
Net income (loss) ............................... $ 6,812 $ 6,912 $ (13,429) $ (15,555) $ (15,260)
Dividends on convertible preferred stock (Note 3) ..... $ — $ 438 $ 2,625 $ 2,625 $ 5,688
Net income (loss) allocable to common shareholders . . . $ 6,812 $ 6,474 $ (16,054) $ (18,180) $ (20,948)
Earnings (loss) per common share(1)
Basic ..................................... $ 0.11 $ 0.10 $ (0.25) $ (0.29) $ (0.33)
Diluted ................................... $ 0.11 $ 0.10 $ (0.25) $ (0.29) $ (0.33)
Fiscal Year 2008 Quarters
1st 2nd 3rd 4th(2) Total
Net sales .................................... $366,452 $366,029 $213,451 $171,272 $1,117,204
Gross profit .................................. $175,534 $171,080 $ 80,131 $ 60,088 $ 486,833
Net income (loss) ............................. $ 39,666 $ 37,107 $ (7,443) $ (3,154) $ 66,176
Earnings (loss) per common share(1)
Basic ................................... $ 0.62 $ 0.59 $ (0.12) $ (0.05) $ 1.05
Diluted .................................. $ 0.61 $ 0.58 $ (0.12) $ (0.05) $ 1.04
(1) Earnings per share is computed individually for each of the quarters presented; therefore, the sum of the
quarterly earnings per share may not necessarily equal the total for the year.
(2) In the fourth quarter of 2008, net income and earnings per share were favorably affected by the reversal of a
$19,922,000 energy derivative valuation account, which resulted in an after-tax benefit of $14,058,000
($0.22 per share) (see Note 10).
F-41