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Selected Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2013
Selected Quarterly Financial Data (Unaudited) |
Selected Quarterly Financial Data (Unaudited) | 16. Selected Quarterly Financial Data (Unaudited) The following table sets forth selected quarterly financial data for each of the quarters in 2013 and 2012: (in thousands, except per share amounts)
|  | 2013 |  | 2012 |
|  | Fourth |  | Third |  | Second |  | First |  | Fourth |  | Third |  | Second |  | First |
|  | Quarter |  | Quarter |  | Quarter |  | Quarter |  | Quarter |  | Quarter |  | Quarter |  | Quarter |
Net sales |  | $ | 160,322 |  | $ | 195,877 |  | $ | 195,596 |  | $ | 154,535 |  | $ | 144,686 |  | $ | 172,113 |  | $ | 181,703 |  | $ | 158,734 |
Cost of sales |  | 90,331 |  | 105,724 |  | 106,176 |  | 89,561 |  | 89,482 |  | 96,390 |  | 98,557 |  | 89,329 |
Gross profit |  | 69,991 |  | 90,153 |  | 89,420 |  | 64,974 |  | 55,204 |  | 75,723 |  | 83,146 |  | 69,405 |
Research and development and other engineering |  | 9,825 |  | 9,226 |  | 9,484 |  | 8,308 |  | 8,763 |  | 8,916 |  | 9,043 |  | 9,198 |
Selling |  | 21,448 |  | 20,630 |  | 21,652 |  | 21,371 |  | 21,109 |  | 20,941 |  | 19,881 |  | 20,432 |
General and administrative |  | 25,411 |  | 28,781 |  | 28,595 |  | 26,290 |  | 23,799 |  | 23,843 |  | 27,087 |  | 26,244 |
Impairment of goodwill |  | — |  | — |  | — |  | — |  | 2,346 |  | — |  | — |  | — |
Loss (gain) on sale of assets |  | 1,404 |  | 631 |  | 11 |  | (8 | ) | 124 |  | 33 |  | (13 | ) | 23 |
Income (loss) from operations |  | 11,903 |  | 30,885 |  | 29,678 |  | 9,013 |  | (937 | ) | 21,990 |  | 27,148 |  | 13,508 |
Interest income, net |  | 54 |  | (9 | ) | 1 |  | 38 |  | 35 |  | 55 |  | 58 |  | 65 |
Income (loss) before income taxes |  | 11,957 |  | 30,876 |  | 29,679 |  | 9,051 |  | (902 | ) | 22,045 |  | 27,206 |  | 13,573 |
Provision for (benefit from) income taxes |  | 4,289 |  | 10,870 |  | 11,177 |  | 4,256 |  | (6,785 | ) | 9,069 |  | 11,347 |  | 6,372 |
Net income |  | $ | 7,668 |  | $ | 20,006 |  | $ | 18,502 |  | $ | 4,795 |  | $ | 5,883 |  | $ | 12,976 |  | $ | 15,859 |  | $ | 7,201 |
Earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.16 |  | $ | 0.41 |  | $ | 0.38 |  | $ | 0.10 |  | $ | 0.12 |  | $ | 0.27 |  | $ | 0.33 |  | $ | 0.15 |
Diluted |  | 0.16 |  | 0.41 |  | 0.38 |  | 0.10 |  | 0.12 |  | 0.27 |  | 0.33 |  | 0.15 |
Cash dividends declared per common share |  | $ | 0.125 |  | $ | 0.125 |  | $ | 0.125 |  | $ | — |  | $ | 0.25 |  | $ | 0.125 |  | $ | 0.125 |  | $ | 0.125 |
Basic and diluted income per common share for each of the quarters presented above is based on the respective weighted average numbers of common and dilutive potential common shares outstanding for each quarter, and the sum of the quarters may not necessarily be equal to the full year basic and diluted net income per common share amounts.

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=25249566&loc=d3e1280-108306 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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