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Selected Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract] |
Selected Quarterly Financial Data (Unaudited) | Selected Quarterly Financial Data (Unaudited) The following table sets forth selected quarterly financial data for each of the quarters in 2017 and 2016, respectively: (in thousands, except per share amounts)
| 2017 |  | 2016
| Fourth Quarter |  | Third Quarter |  | Second Quarter |  | First Quarter |  | Fourth Quarter |  | Third Quarter |  | Second Quarter |  | First Quarter
Net sales | $ | 231,681 |  |  | $ | 262,476 |  |  | $ | 263,002 |  |  | $ | 219,866 |  |  | $ | 200,192 |  |  | $ | 230,974 |  |  | $ | 229,973 |  |  | $ | 199,523 |
Cost of sales | 128,983 |  |  | 142,591 |  |  | 139,477 |  |  | 119,710 |  |  | 105,226 |  |  | 117,499 |  |  | 118,486 |  |  | 107,000 |
Gross profit | 102,698 |  |  | 119,885 |  |  | 123,525 |  |  | 100,156 |  |  | 94,966 |  |  | 113,475 |  |  | 111,487 |  |  | 92,523 |
Research and development and other engineering | 12,565 |  |  | 8,679 |  |  | 13,264 |  |  | 13,108 |  |  | 12,441 |  |  | 10,932 |  |  | 11,452 |  |  | 11,423 |
Selling | 28,753 |  |  | 28,156 |  |  | 28,511 |  |  | 29,483 |  |  | 24,030 |  |  | 24,304 |  |  | 24,822 |  |  | 25,187 |
General and administrative | 36,688 |  |  | 36,501 |  |  | 36,563 |  |  | 34,986 |  |  | 32,376 |  |  | 32,543 |  |  | 34,945 |  |  | 29,298 |
Gain (loss) on sale of assets | (13 | ) |  | (147 | ) |  | 50 |  |  | (50 | ) |  | (17 | ) |  | (81 | ) |  | (656 | ) |  | (26 | )
Income from operations | 24,705 |  |  | 46,696 |  |  | 45,137 |  |  | 22,629 |  |  | 26,136 |  |  | 45,777 |  |  | 40,924 |  |  | 26,641 |
Loss in equity method investment, before tax | (33 | ) |  | (13 | ) |  | (12 | ) |  | (28 | ) |  | — |  |  | — |  |  | — |  |  | — |
Interest (expense) income, net | (104 | ) |  | (296 | ) |  | (199 | ) |  | (189 | ) |  | (177 | ) |  | (82 | ) |  | (83 | ) |  | (235 | )
Gain (adjustment) on bargain purchase of a business | — |  |  | (2,052 | ) |  | — |  |  | 8,388 |  |  | — |  |  | — |  |  | — |  |  | — |
Gain (loss) on disposal of a business | (654 | ) |  | 443 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Provision for income taxes | 10,829 |  |  | 16,581 |  |  | 16,712 |  |  | 7,679 |  |  | 8,565 |  |  | 15,898 |  |  | 14,640 |  |  | 10,063 |
Net income | $ | 13,085 |  |  | $ | 28,197 |  |  | $ | 28,214 |  |  | $ | 23,121 |  |  | $ | 17,394 |  |  | $ | 29,797 |  |  | $ | 26,201 |  |  | $ | 16,343 |
Earnings per share of common stock: |  |  |  |  |  |  |  |  |  | 0 |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 0.28 |  |  | $ | 0.60 |  |  | $ | 0.59 |  |  | $ | 0.49 |  |  | $ | 0.37 |  |  | $ | 0.62 |  |  | $ | 0.54 |  |  | $ | 0.34 |
Diluted | 0.27 |  |  | 0.59 |  |  | 0.59 |  |  | 0.48 |  |  | 0.36 |  |  | 0.62 |  |  | 0.54 |  |  | 0.34 |
Cash dividends declared per share of common stock | $ | — |  |  | $ | 0.42 |  |  | $ | 0.21 |  |  | $ | 0.18 |  |  | $ | 0.18 |  |  | $ | 0.18 |  |  | $ | 0.18 |  |  | $ | 0.16 |
Basic earnings per share of common stock (“EPS”) for each of the quarters presented above is computed based on the weighted average number of shares of common stock outstanding during the quarter. Diluted EPS is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential shares of common stock outstanding during the quarter using the treasury stock method. Dilutive potential shares of common stock include outstanding stock options and stock awards. The sum of the quarterly basic and diluted EPS amounts may not necessarily be equal to the full-year basic and diluted EPS amounts.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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