## Table

|  | Fiscal | Fiscal | Fiscal | Fiscal | Fiscal |
|---|---|---|---|---|---|
| Consolidated financial data | 2019(1) | 2018(2) | 2017(3) | 2016(4) | 2015(5) |
|  |  |  | (in thousands, except per share data) |  |  |
| Net sales | $1,430,640 | $1,902,573 | $1,723,311 | $857,385 | $802,460 |
| Gross profit | $486,465 | $830,691 | $750,269 | $381,392 | $335,399 |
| Net income from continuing operations | $53,825 | $247,360 | $208,644 | $87,502 | $76,409 |
| Net income per share from continuing operations |  |  |  |  |  |
| Basic | $2.23 | $10.07 | $8.52 | $3.62 | $3.09 |
| Diluted | $2.22 | $9.95 | $8.42 | $3.58 | $3.06 |
| Shares used in computation: |  |  |  |  |  |
| Basic | 24,118 | 24,572 | 24,487 | 24,142 | 24,754 |
| Diluted | 24,279 | 24,851 | 24,777 | 24,415 | 24,992 |
| Total assets* | $2,083,169 | $2,259,969 | $2,337,800 | $1,161,148 | $968,947 |
| Long-term obligations | $392,238 | $420,711 | $589,001 | $— | $— |
| Other long-term liabilities* | $165,881 | $151,956 | $166,390 | $48,826 | $49,939 |
| Stockholders’ equity | $1,284,736 | $1,314,464 | $1,163,264 | $910,828 | $796,418 |



## Text

ITEM 6. SELECTED FINANCIAL DATA


The information set forth below is not necessarily indicative of results of future operations and should be read in conjunction with Item 7. ‘‘Management’s Discussion and Analysis of Financial Condition and Results of Operations’’ and the Consolidated Financial Statements and Notes to Consolidated Financial Statements included elsewhere in this annual report.


We derived the consolidated statement of operations data for fiscal 2019, 2018 and 2017 and the consolidated balance sheet data as of fiscal 2019 and 2018 year-end from our audited consolidated financial statements, and accompanying notes, contained in this annual report. The consolidated statements of operations data for fiscal 2016 and 2015 and the consolidated balance sheet data as of fiscal 2017, 2016 and 2015 year-end are derived from our audited consolidated financial statements which are not included in this annual report.


* In November 2015, the FASB issued amended guidance that clarifies that in a classified statement of financial position, an entity shall classify deferred tax liabilities and assets as noncurrent amounts. This guidance superseded ASC 740-10-45-5 which required the valuation allowance for a particular tax jurisdiction be allocated between current and noncurrent deferred tax assets for that tax jurisdiction on a pro rata basis. We elected to early adopt the standard retrospectively in fiscal 2016, which resulted in the reclassification of current deferred income tax assets to non-current deferred income tax assets and non-current deferred income tax liabilities on our consolidated balance sheets for fiscal 2017, 2016 and 2015.


(1) Includes $16.0 million of after-tax restructuring charges, $0.4 million of after-tax amortization of purchase accounting step-up, $1.1 million of benefit from amounts received on a resolved asset recovery matter, $1.7 million non-recurring income tax net expense and $2.5 million of excess tax benefits for employee stock-based compensation.


(2) Includes $2.9 million of after-tax restructuring charges, $0.8 million impairment and other charges, $0.7 million of after-tax acquisition costs, $0.6 million of after-tax amortization of purchase accounting step-up, $26.7 million of tax charges due to the U.S. Tax Cuts and Jobs Act transition tax and deferred tax remeasurement, $3.3 million tax charge due to an increase in valuation allowances against deferred tax assets and $12.8 million of tax benefit from the adoption of new rules for accounting for excess tax benefits and tax deficiencies for employee stock-based compensation.


(3) Includes $19.0 million of after-tax amortization of purchase accounting step-up, $17.4 million of after tax costs related to the acquisition of Rofin, $8.4 million of after-tax restructuring charges, an after-tax charge of $1.9 million for the impairment of net assets of several entities held for sale, $1.8 million after-tax interest expense on the commitment of our term loan to finance the acquisition of Rofin, a $7.1 million after-tax gain on our hedge of our foreign exchange risk related to the commitment of our term loan and the issuance of debt to finance the acquisition of Rofin, a $3.4 million after-tax gain on our sale of previously owned Rofin shares and a benefit of $1.4 million from the closure of R&D tax audits.


(4) Includes $6.4 million of after tax costs related to the acquisition of Rofin, a $1.4 million after-tax loss on our hedge of our foreign exchange risk related to the commitment of our term loan to finance the acquisition of Rofin, $0.8 million after-tax interest expense on the commitment of our term loan to finance the acquisition of Rofin and a benefit of $1.2 million from the renewal of the R&D tax credit for fiscal 2015.


(5) Includes a charge of $1.3 million after tax for the impairment of our investment in SiOnyx, a $1.3 million after-tax charge for an accrual related to an ongoing customs audit, a benefit of $1.1 million from the renewal of the R&D tax credit for fiscal 2014 and a $1.3 million gain on our purchase of Tinsley in the fourth quarter of fiscal 2015.