Table of Contents Note 17 – Selected Quarterly Financial Data (Unaudited) Quarter ended May 31, 2019 August 31, 2019 November 30, 2019 February 29, 2020  (2) (in thousands, except per share data) Net sales $ 289,123 $ 236,190 $ 291,139 $ 245,365 Gross profit 66,107 52,686 67,331 51,104 Net income (loss) 21,284 15,558 22,035 (10,643 ) Basic net income (loss) per share  (1) 0.81 0.59 0.84 (0.41) Diluted net income (loss) per share  (1) 0.81 0.59 0.84 (0.41 ) Quarter ended May 31, 2018 August 31, 2018 November 30, 2018 February 28, 2019 (in thousands, except per share data) Net sales $ 262,236 $ 222,787 $ 239,516 $ 202,548 Gross profit 58,705 46,904 49,755 43,257 Net income 15,718 11,244 15,395 8,851 Basic net income per share  (1) 0.60 0.43 0.59 0.34 Diluted net income per share  (1) 0.60 0.43 0.59 0.34 2020 2019 2018 Allowance for Doubtful Accounts Balance at beginning of year $ 2,267 $ 569 $ 347 Additions charged to income 2,734 2,153 3,290 Write-offs, net (129) (451) (3,084) Other 106 — 16 Effect of exchange rate changes (27) (4) — Balance at end of year $ 4,951 $ 2,267 $ 569 62 (1) Basic and diluted net income (loss) per share are computed independently for each of the quarters presented. Therefore, the sum of quarterly basic and diluted per share information may not equal annual basic and diluted net income per share. (2) During the fourth quarter of fiscal 2020, the Company recorded a loss on disposal of $18.6 million related to the sale of its nuclear logistics business and recorded an impairment charge of $9.2 million related to the Company's exit from the nuclear certified portion of its industrial welding solutions business. Schedule II AZZ Inc. Valuation and Qualifying Accounts and Reserves (In thousands) AZZ INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS