Annual report pursuant to Section 13 and 15(d)

Quarterly Results of Operations (Unaudited) (Table)

v3.20.1
Quarterly Results of Operations (Unaudited) (Table)
12 Months Ended
Mar. 31, 2020
Quarterly Financial Information Disclosure [Abstract]  
Schedule of quarterly information
The following table sets forth certain quarterly information for fiscal years 2020 and 2019. This information, in the opinion of the Company’s management, reflects all adjustments (consisting only of normal recurring adjustments) necessary to present fairly this information when read in conjunction with the Consolidated Financial Statements and notes thereto included elsewhere herein (amounts in thousands except per share data):
 
 
Fiscal Year 2020 Quarters Ended
 
 
Jun-30
 
Sep-30
 
Dec-31
 
Mar-31
Net sales
 
$
345,242

 
$
327,397

 
$
294,741

 
$
293,174

Gross margin
 
121,628

 
113,670

 
93,181

 
92,009

Operating income (1)
 
58,400

 
49,090

 
28,648

 
11,728

Net income (loss) (2)
 
$
40,340

 
$
(15,260
)
 
$
16,602

 
$
(301
)
 
 
 
 
 
 
 
 
 
Net income (loss) per basic share
 
$
0.69

 
$
(0.26
)
 
$
0.28

 
$
(0.01
)
 
 
 
 
 
 
 
 
 
Net income (loss) per diluted share
 
$
0.68

 
$
(0.26
)
 
$
0.28

 
$
(0.01
)
 
 
Fiscal Year 2019 Quarters Ended
 
 
Jun-30
 
Sep-30
 
Dec-31
 
Mar-31
Net sales
 
$
327,616

 
$
349,233

 
$
350,175

 
$
355,794

Gross margin
 
94,821

 
113,565

 
123,750

 
126,406

Operating income (1)
 
35,176

 
50,000

 
61,616

 
54,057

Net income (3)
 
$
35,220

 
$
37,141

 
$
40,806

 
$
93,420

 
 
 
 
 
 
 
 
 
Net income per basic share
 
$
0.61

 
$
0.64

 
$
0.70

 
$
1.60

 
 
 
 
 
 
 
 
 
Net income per diluted share
 
$
0.60

 
$
0.63

 
$
0.69

 
$
1.58

______________________________________________________________________________
(1) Operating income (loss) as a percentage of net sales fluctuates from quarter to quarter due to a number of factors, including net sales fluctuations, foreign currency exchange, tax law changes, changes in valuation allowances on deferred tax assets, restructuring charges, product mix, the timing and expense of moving product lines to lower-cost locations, the write-down and impairment of long lived assets, the net gain/loss on sales and disposals of assets, and the relative mix of sales among distributors, original equipment manufacturers, and electronic manufacturing service provid