Sally Beauty Supply 2013 Annual Report Download - page 150

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Sally Beauty Holdings, Inc. and Subsidiaries
Notes to Consolidated Financial Statements (Continued)
Fiscal Years ended September 30, 2013, 2012 and 2011
20. Subsequent Event
On October 24, 2013, Sally Holdings and Sally Capital Inc. (collectively, the ‘‘Issuers’’), both indirect
wholly-owned subsidiaries of the Company, the Company and certain domestic subsidiaries of the
Company entered into an underwriting agreement pursuant to which the Issuers sold $200.0 million
aggregate principal amount of the Issuers’ 5.5% Senior Notes due 2023 (the ‘‘senior notes due 2023’’). The
senior notes due 2023 bear interest at an annual rate of 5.5%, were issued at par, and are guaranteed by
the Company and certain domestic subsidiaries of the Company. Interest on the senior notes due 2023 is
payable semi-annually. The Company used the net proceeds from this debt issuance, approximately
$196.3 million, to repay borrowings outstanding under the ABL facility of $88.5 million and intends to use
the remaining amount for general corporate purposes.
21. Quarterly Financial Data (Unaudited)
Certain unaudited quarterly consolidated statement of earnings information for the fiscal years ended
September 30, 2013 and 2012 is summarized below (in thousands, except per share data):
1st 2nd 3rd 4th
Fiscal Year Quarter Quarter Quarter Quarter
2013:
Net sales ..................... $905,441 $898,239 $912,101 $906,435
Gross profit ................... $444,368 $444,454 $457,083 $449,358
Net earnings ................... $ 58,983 $ 64,889 $ 72,466 $ 64,812
Earnings per common share(a)
Basic ...................... $ 0.33 $ 0.37 $ 0.43 $ 0.39
Diluted ..................... $ 0.32 $ 0.36 $ 0.42 $ 0.38
2012:
Net sales ..................... $864,815 $889,281 $886,991 $882,557
Gross profit ................... $421,857 $436,786 $444,379 $440,236
Net earnings ................... $ 30,134 $ 67,813 $ 69,487 $ 65,630
Earnings per common share(a)
Basic ...................... $ 0.16 $ 0.36 $ 0.38 $ 0.36
Diluted ..................... $ 0.16 $ 0.35 $ 0.37 $ 0.35
(a) The sum of the quarterly earnings per share may not equal the full year amount, as the
computations of the weighted average number of common shares outstanding for each
quarter and for the full year are performed independently.
F-48