Dick's Sporting Goods 2013 Annual Report Download - page 92

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66
DICK'S SPORTING GOODS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
Fiscal 2012
First
Quarter Second
Quarter Third
Quarter Fourth
Quarter (4)
Net sales $ 1,281,704 $ 1,437,041 $ 1,312,072 $ 1,805,302
Gross profit 394,607 447,780 406,124 588,652
Income from operations 95,735 134,640 82,193 211,106
Net income (1) 57,157 53,663 (5) 50,139 129,749
Earnings per common share:
Basic $ 0.47 $ 0.45 $ 0.41 $ 1.06
Diluted $ 0.45 $ 0.43 $ 0.40 $ 1.03
Weighted average common shares outstanding:
Basic 121,514 119,928 122,103 122,875
Diluted 127,003 124,533 125,938 126,409
(1) Quarterly results for fiscal 2013 and 2012 do not add to full year results due to rounding.
(2) Includes the partial recovery of a previously impaired asset of $4.3 million.
(3) Includes asset impairment charge of $4.7 million.
(4) Fourth quarter of fiscal 2012 represents a 14 week period, as fiscal 2012 includes 53 weeks.
(5) Includes impairment of available-for-sale investments of $27.6 million.
19. Subsequent Events
On February 14, 2014, our Board of Directors declared a quarterly cash dividend in the amount of $0.125 per share of common
stock and Class B common stock payable on March 28, 2014 to stockholders of record as of the close of business on March 7,
2014.
On March 5, 2014, the Company sold a corporate aircraft for cash proceeds of $73.5 million, recognizing a pre-tax gain of
$14.4 million.