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Selected Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Schedule of selected quarterly financial data
The following table sets forth selected quarterly financial data for each of the quarters in 2016 and 2015, respectively:
 
(in thousands, except per share amounts) 
 
2016
 
2015
 
Fourth
Quarter
 
Third
Quarter
 
Second
Quarter
 
First
Quarter
 
Fourth
Quarter
 
Third
Quarter
 
Second
Quarter
 
First
Quarter
 
 
 
 
 
 
 
 
Net sales
$
200,192

 
$
230,974

 
$
229,973

 
$
199,523

 
$
184,764

 
$
216,139

 
$
216,665

 
$
176,491

Cost of sales
105,226

 
117,499

 
118,486

 
107,000

 
102,002

 
115,798

 
118,347

 
98,993

Gross profit
94,966

 
113,475

 
111,487

 
92,523

 
82,762

 
100,341

 
98,318

 
77,498

Research and development and other engineering
12,441

 
10,932

 
11,452

 
11,423

 
11,548

 
13,935

 
10,517

 
10,197

Selling
24,030

 
24,304

 
24,822

 
25,187

 
22,508

 
22,535

 
23,013

 
22,607

General and administrative
32,376

 
32,543

 
34,945

 
29,298

 
26,553

 
28,648

 
29,794

 
28,433

Impairment of goodwill
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Gain on sale of assets
(17
)
 
(81
)
 
(656
)
 
(26
)
 
(332
)
 
(26
)
 
(15
)
 
(16
)
Income from operations
26,136

 
45,777

 
40,924

 
26,641

 
22,485

 
35,249

 
35,009

 
16,277

Interest expense, net
(177
)
 
(82
)
 
(83
)
 
(235
)
 
(77
)
 
(175
)
 
(54
)
 
(35
)
Income before income taxes
25,959

 
45,695

 
40,841

 
26,406

 
22,408

 
35,074

 
34,955

 
16,242

Provision for
  income taxes
8,565

 
15,898

 
14,640

 
10,063

 
7,675

 
13,479

 
13,446

 
6,191

Net income
$
17,394

 
$
29,797

 
$
26,201

 
$
16,343

 
$
14,733

 
$
21,595

 
$
21,509

 
$
10,051

Earnings per common share:


 


 


 
0

 
 

 
 

 
 

 
 

Basic
$
0.37

 
$
0.62

 
$
0.54

 
$
0.34

 
$
0.30

 
$
0.44

 
$
0.44

 
$
0.20

Diluted
0.36

 
0.62

 
0.54

 
0.34

 
0.30

 
0.44

 
0.43

 
0.20

Cash dividends declared per
   common share
$
0.18

 
$
0.18

 
$
0.18

 
$
0.16

 
$
0.16

 
$
0.16

 
$
0.16

 
$
0.14