O'Reilly Auto Parts 2012 Annual Report Download - page 81

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71
NOTE 17 – QUARTERLY RESULTS (Unaudited)
The following table sets forth certain quarterly unaudited operating data for the fiscal years ended December 31, 2012 and 2011. The
unaudited quarterly information includes all adjustments, which the Company considers necessary for a fair presentation of the
information shown:
Fiscal 2012
First Second Third Fourth
Quarter Quarter Quarter Quarter
(In thousands, except per share data)
Sales $ 1,529,392 $ 1,562,849 $ 1,601,558 $ 1,488,385
Gross profit 761,680 779,861 805,493 750,384
Operating income 247,501 243,603 263,318 222,971
Net income 147,492 146,120 159,332 132,802
Earnings per share – basic $ 1.16 $ 1.17 $ 1.34 $ 1.16
Earnings per share – assuming dilution $ 1.14 $ 1.15 $ 1.32 $ 1.14
Fiscal 2011
First Second Third Fourth
Quarter Quarter Quarter Quarter
(In thousands, except per share data)
Sales $ 1,382,738 $ 1,479,318 $ 1,535,453 $ 1,391,307
Gross profit 669,781 718,661 754,210 694,697
Former CSK officer clawback - - - (2,798)
Operating income 196,437 222,368 241,050 206,911
Write-off of debt issuance costs (21,626) - - -
Termination of interest rate swap agreements (4,237) - - -
N
et income 102,474 133,772 148,439 122,988
Earnings per share – basic $ 0.73 $ 0.97 $ 1.12 $ 0.96
Earnings per share – assuming dilution $ 0.72 $ 0.96 $ 1.10 $ 0.94
The unaudited operating data presented above should be read in conjunction with the Company’s consolidated financial statements
and related notes, and the other financial information included therein.
Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure
None.
Item 9A. Controls and Procedures
EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES
As of the end of the period covered by this report, our management, under the supervision and with the participation of our Chief
Executive Officer and Chief Financial Officer, evaluated the effectiveness of the design and operation of our disclosure controls and
procedures pursuant to Rule 13a-15(b) and as defined in Rule 13a-15(e) of the Securities Exchange Act of 1934, as amended (“the
Exchange Act”). Based on that evaluation, the Chief Executive Officer and the Chief Financial Officer concluded that our disclosure
controls and procedures as of the end of the period covered by this report are functioning effectively to provide reasonable assurance
that the information required to be disclosed by us (including our consolidated subsidiaries) in reports filed under the Exchange Act is
recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules
and forms and is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer,
as appropriate to allow timely decisions regarding required disclosure.
CHANGES IN INTERNAL CONTROLS
There were no changes in the Company’s internal control over financial reporting during the fiscal quarter ended December 31, 2012,
that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.