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Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2011
Selected Quarterly Financial Data (Unaudited) |
Schedule of quarterly financial information |
(in thousands, except per share amounts)
|  | 2011 |  | 2010 |
|  | Fourth |  | Third |  | Second |  | First |  | Fourth |  | Third |  | Second |  | First |
|  | Quarter |  | Quarter |  | Quarter |  | Quarter |  | Quarter |  | Quarter |  | Quarter |  | Quarter |
Net sales |  | $ | 130,732 |  | $ | 162,366 |  | $ | 177,812 |  | $ | 132,536 |  | $ | 119,606 |  | $ | 146,447 |  | $ | 165,614 |  | $ | 123,820 |
Cost of sales |  | 75,822 |  | 86,919 |  | 94,313 |  | 75,588 |  | 71,979 |  | 80,750 |  | 88,828 |  | 69,793 |
Gross profit |  | 54,910 |  | 75,447 |  | 83,499 |  | 56,948 |  | 47,627 |  | 65,697 |  | 76,786 |  | 54,027 |
Research and development and other engineering |  | 6,143 |  | 6,804 |  | 6,945 |  | 5,994 |  | 4,954 |  | 5,715 |  | 5,700 |  | 4,742 |
Selling |  | 18,041 |  | 18,633 |  | 19,819 |  | 17,075 |  | 15,865 |  | 15,946 |  | 16,610 |  | 14,872 |
General and administrative |  | 23,570 |  | 25,174 |  | 25,454 |  | 21,621 |  | 22,331 |  | 20,001 |  | 20,524 |  | 16,933 |
Impairment of goodwill |  | 1,282 |  | — |  | — |  | — |  | 6,292 |  | — |  | — |  | — |
Loss (gain) on sale of assets |  | 190 |  | (46 | ) | 73 |  | (25 | ) | 43 |  | (5,217 | ) | 15 |  | 388 |
Income (loss) from operations |  | 5,684 |  | 24,882 |  | 31,208 |  | 12,283 |  | (1,858 | ) | 29,252 |  | 33,937 |  | 17,092 |
Income (loss) in equity method investment |  | — |  | 4,471 |  | (69 | ) | (14 | ) | (106 | ) | (153 | ) | (131 | ) | (144 | )
Interest income, net |  | 82 |  | 79 |  | 108 |  | 72 |  | — |  | 110 |  | 26 |  | 12 |
Income (loss) from continuing operations before income taxes |  | 5,766 |  | 29,432 |  | 31,247 |  | 12,341 |  | (1,964 | ) | 29,209 |  | 33,832 |  | 16,960 |
Provision for income taxes from continuing operations |  | 818 |  | 10,052 |  | 11,754 |  | 5,263 |  | 2,535 |  | 10,801 |  | 12,773 |  | 7,130 |
Income (loss) from continuing operations, net of tax |  | 4,948 |  | 19,380 |  | 19,493 |  | 7,078 |  | (4,499 | ) | 18,408 |  | 21,059 |  | 9,830 |
Loss from discontinued operations, net of tax |  | — |  | — |  | — |  | — |  | — |  | (1,226 | ) | (14,356 | ) | (631 | )
Net income (loss) |  | $ | 4,948 |  | $ | 19,380 |  | $ | 19,493 |  | $ | 7,078 |  | $ | (4,499 | ) | $ | 17,182 |  | $ | 6,703 |  | $ | 9,199 |
Earnings (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  | $ | 0.10 |  | $ | 0.40 |  | $ | 0.39 |  | $ | 0.14 |  | $ | (0.09 | ) | $ | 0.37 |  | $ | 0.43 |  | $ | 0.20 |
Discontinued operations |  | — |  | — |  | — |  | — |  | — |  | (0.02 | ) | (0.29 | ) | (0.01 | )
Net income |  | 0.10 |  | 0.40 |  | 0.39 |  | 0.14 |  | (0.09 | ) | 0.35 |  | 0.14 |  | 0.19 |
Diluted |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  | $ | 0.10 |  | $ | 0.40 |  | $ | 0.39 |  | $ | 0.14 |  | $ | (0.09 | ) | $ | 0.37 |  | $ | 0.42 |  | $ | 0.20 |
Discontinued operations |  | — |  | — |  | — |  | — |  | — |  | (0.02 | ) | (0.29 | ) | (0.01 | )
Net income |  | 0.10 |  | 0.40 |  | 0.39 |  | 0.14 |  | (0.09 | ) | 0.35 |  | 0.14 |  | 0.19 |
Cash dividends declared per common share |  | $ | 0.125 |  | $ | 0.125 |  | $ | 0.125 |  | $ | 0.125 |  | $ | 0.10 |  | $ | 0.10 |  | $ | 0.10 |  | $ | 0.10 |

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- Definition Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 270 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph (a)-(j) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6952194&loc=d3e1280-108306 + Details
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