Garmin 2010 Annual Report Download - page 101

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89
14. Selected Quarterly Information (Unaudited)
Fiscal Year Ended December 25, 2010
Quarter Ending
March 27 June 26
September 25 (1) December 25
Net sales $431,067 $728,765 $692,364 837,715$
Gross profit 230,909 391,652 344,020 379,793
Net income 37,329 134,816 279,552 132,906
Basic net income per share $0.19 $0.68 $1.43 $0.67
Fiscal Year Ended December 26, 2009
Quarter Ending
March 28 June 27 September 26 December 26
Net sales $436,699 $669,104 $781,254 1,059,383$
Gross profit 195,995 351,614 409,742 486,760
Net income 48,538 161,871 215,133 278,408
Basic net income per share $0.24 $0.81 $1.07 $1.39
(1) Net income and Basic net income per share for quarter ending September 25, 2010 include a one-time
tax adjustment of ($98.7) million which includes release of uncertain tax position reserves from 2006
to 2008 related to our settlement with the IRS in the US, partially offset by the amount of the
settlement for the 2007 tax year in the US and Taiwan surtax expense due to the release of reserves.
The above quarterly financial data is unaudited, but in the opinion of management, all adjustments
necessary for a fair presentation of the selected data for these interim periods presented have been included.
These results are not necessarily indicative of future quarterly results.