DSW 2011 Annual Report Download - page 84

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Table of Contents DSW INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
In the Company’
s opinion, the unaudited quarterly financial information reflects all normal and recurring accruals and adjustments necessary for a
fair presentation of the Company’s net income (loss) for interim periods. Quarterly results are not necessarily indicative of a full year’
s operations
because of various factors. The Company’s unaudited quarterly financial information is as follows:
F-40
16.
QUARTERLY FINANCIAL DATA (UNAUDITED)
Thirteen weeks ended
April 30,
2011
July 30,
2011
October 29, 2011
January 28, 2012
(in thousands, except per share data)
Net sales
$
503,588
$
476,310
$
530,747
$
513,684
Cost of sales
(331,438
)
(320,758
)
(350,465
)
(367,721
)
Operating expenses
(112,619
)
(106,628
)
(120,310
)
(109,026
)
Change in fair value of derivative instruments
(54,876
)
(22,943
)
20,924
2,981
Operating profit
4,655
25,981
80,896
39,918
Interest expense
(3,792
)
(5,636
)
(1,743
)
(633
)
Interest income
647
718
592
666
Interest expense, net
(3,145
)
(4,918
)
(1,151
)
33
Income from continuing operations before income taxes
1,510
21,063
79,745
39,951
Income tax benefit (provision)
(24,939
)
124,640
(26,076
)
(15,556
)
(Loss) income from continuing operations
(23,429
)
145,703
53,669
24,395
Income from discontinued operations, net of tax - Value City
168
5
10
Loss from discontinued operations, net of tax - Filene’s Basement
(5,038
)
Total (loss) income from discontinued operations, net of tax
168
5
(5,028
)
Net (loss) income
(23,429
)
145,871
53,674
19,367
Less: net income attributable to the noncontrolling interests
(14,694
)
(6,001
)
Net (loss) income, net of noncontrolling interests
$
(38,123
)
$
139,870
$
53,674
$
19,367
Basic and diluted earnings (loss) per share:
Basic (loss) earnings per share from continuing operations, net of
noncontrolling interests
$
(1.74
)
$
4.05
$
1.30
$
0.56
Diluted (loss) earnings per share from continuing operations, net of
noncontrolling interests
$
(1.74
)
$
3.95
$
0.75
$
0.48
Basic earnings (loss) per share from discontinued operations
$
0.00
$
0.01
$
0.00
$
(0.12
)
Diluted earnings (loss) per share from discontinued operations
$
0.00
$
0.01
$
0.00
$
(0.12
)
Basic (loss) earnings per share, net of noncontrolling interests
$
(1.74
)
$
4.05
$
1.30
$
0.45
Diluted (loss) earnings per share, net of noncontrolling interests
$
(1.74
)
$
3.96
$
0.75
$
0.37