Callaway 2014 Annual Report Download - page 110

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F-42
Note 21. Summarized Quarterly Data (Unaudited)
Fiscal Year 2014 Quarters
1st 2nd 3rd 4th Total
(In thousands, except per share data)
Net sales........................................................................... $ 351,874 $ 231,893 $ 168,572 $ 134,606 $ 886,945
Gross profit ...................................................................... $ 164,897 $ 90,806 $ 65,307 $ 36,916 $ 357,926
Net income (loss) ............................................................. $ 55,312 $ 3,369 $ (1,134)$
(41,539) $ 16,008
Net income (loss) allocable to common shareholders ..... $ 55,312 $ 3,369 $ (1,134)$
(41,539) $ 16,008
Earnings (loss) per common share(1)
Basic......................................................................... $ 0.71 $ 0.04 $ (0.01)$ (0.54) $ 0.21
Diluted...................................................................... $ 0.61 $ 0.04 $ (0.01)$ (0.54) $ 0.20
Fiscal Year 2013 Quarters
1st 2nd 3rd 4th Total
(In thousands, except per share data)
Net sales........................................................................... $ 287,756 $ 249,646 $ 178,229 $ 127,170 $ 842,801
Gross profit(2) .................................................................... $ 130,436 $ 95,652 $ 59,409 $ 29,261 $ 314,758
Net income (loss)(2)(3) ........................................................ $ 41,660 $ 10,071 $ (21,153)$
(49,499)$
(18,921)
Dividends on convertible preferred stock........................ $ 783 $ 783 $ 1,766 $ — $ 3,332
Net income (loss) allocable to common shareholders(2)(3).$ 40,877 $ 9,288 $ (22,919)$
(49,499)$
(22,253)
Earnings (loss) per common share(1)
Basic(2)(3)
.................................................................... $ 0.58 $ 0.13 $ (0.32)$ (0.65)$ (0.31)
Diluted(2)(3)
................................................................. $ 0.47 $ 0.12 $ (0.32)$ (0.65)$ (0.31)
(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) During the first, second, third and fourth quarters of 2013, the Company recognized charges of $2,282,000, $4,087,000,
$1,005,000 and $3,775,000, respectively, in cost of goods sold in connection with the Company’s Cost Reduction Initiatives
(see Note 3).
(3) During the first, second, third and fourth quarters of 2013, the Company recognized charges of $2,158,000 ($0.03 per
share), $3,074,000 ($0.04 per share), $1,142,000 ($0.02 per share) and $3,808,000 ($0.05 per share), respectively, in
after-tax charges in connection with the Company's Cost Reduction Initiatives (see Note 3).