Pier 1 2010 Annual Report Download - page 76

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
nature. The Company maintains liability insurance against most of these claims. It is the opinion of management,
after consultation with counsel, that the ultimate resolution of such litigation will not have a material adverse
effect, either individually or in aggregate, on the Company’s financial position, results of operations or liquidity.
NOTE 12 – SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
Summarized quarterly financial data for the years ended February 27, 2010 and February 28, 2009 are set
forth below (in thousands except per share amounts):
Three Months Ended
Fiscal 2010 5/30/2009 8/29/2009 11/28/2009 2/27/2010
Net sales $ 281,130 $ 286,674 $ 327,075 $ 395,973
Gross profit 84,814 81,589 119,860 154,151
Operating income (loss) (26,704) (15,304) 2,771 35,984
Net income (loss) 29,314 (15,780) 38,813 34,500
Average shares outstanding - basic 91,113 91,450 104,384 115,913
Average shares outstanding - diluted 91,113 91,450 104,384 116,232
Basic and diluted earnings (loss) per share .32 (.17) .37 .30
Three Months Ended
Fiscal 2009 5/31/2008 8/30/2008 11/29/2008 2/28/2009
Net sales $ 310,020 $ 320,494 $ 300,906 $ 389,257
Gross profit 87,606 86,135 87,891 101,832
Operating loss (30,435) (28,425) (34,769) (26,934)
Net loss (32,824) (30,156) (36,855) (29,418)
Average shares outstanding - basic and diluted 88,620 88,778 88,885 89,364
Basic and diluted loss per share (.37) (.34) (.41) (.33)
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