During the first quarter of fiscal 2013, the Company invested $56.5 million in repurchasing 559,000 shares of the Company's common stock at an average price of $101.10 per share. As of March 30, 2013, the Company had remaining authority to purchase $1.01 billion of its common stock.
Sales and Earnings Guidance
For the second quarter of fiscal 2013, the Company expects:
- Net sales to increase approximately 8% to 9% (inclusive of a negative 2 percentage point sales impact from the $15 million shift in shipments referred to above)
- Operating margin in a range of 11.5% to 12.0%
- Diluted earnings per share in a range of $0.89 to $0.94
- Net sales to increase between 10% and 11%
- Operating margin in a range of 16.5% to 17.0%
- Diluted earnings per share in a range of $6.00 to $6.26
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