Selected Quarterly Data

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

SELECTED QUARTERLY DATA (UNAUDITED)

The Company reports its interim quarterly periods on a 13-week basis ending on a Saturday with the fiscal year ending on December 31. The effects of this practice exist only within a reporting year. For ease of presentation, the Company uses “March 31,” “June 30,” “September 30” and “December 31” to refer to its results of operations for the quarterly periods then ended. In 2015, the Company’s interim quarterly periods ended March 28, June 27, September 26 and December 31. In 2014, the Company’s interim quarterly periods ended March 29, June 28, September 27 and December 31.

The following table summarizes the quarterly results of operations, including earnings per share:



	2015
(in millions, except per share data)	March 31		June 30^(a)		September 30		December 31^(b)
Net sales	$	196.5	$	205.4	$	179.7	$	186.4
Gross profit	54.9		60.7		54.7		55.3
Income from continuing operations	14.4		18.2		15.8		17.4
Gain (loss) from discontinued operations and disposal, net	0.5		0.1		3.0		(5.9		)
Net income	14.9		18.3		18.8		11.5
Diluted earnings per share:
Earnings from continuing operations	$	0.22	$	0.29	$	0.25	$	0.27
Earnings (loss) from discontinued operations	0.01		0.00		0.05		(0.09		)
Net earnings per share	$	0.23	$	0.29	$	0.30	$	0.18


(a)	Income from continuing operations includes restructuring charges of $0.4 million.

(b)

Income from continuing operations includes a $1.4 million net benefit from special tax items, comprised of a $4.2 million net tax benefit associated with tax planning strategies, offset by a $2.4 million adjustment of deferred tax assets and $0.4 million of expense associated with a change in the enacted tax rate in the U.K. Gain (loss) from discontinued operations and disposal, net includes tax expense of $6.3 million associated with recognizing a net deferred tax liability for the outside basis differences of entities being sold as part of the sale of Bronto.



	2014
(in millions, except per share data)	March 31			June 30		September 30		December 31^(a)
Net sales	$	175.7		$	200.5	$	193.8	$	209.1
Gross profit	42.6			54.4		54.1		57.6
Income from continuing operations	7.9			16.9		15.0		19.9
(Loss) gain from discontinued operations and disposal, net	(0.5		)	0.2		0.4		3.9
Net income	7.4			17.1		15.4		23.8
Diluted earnings per share:
Earnings from continuing operations	$	0.13		$	0.27	$	0.23	$	0.31
(Loss) earnings from discontinued operations	(0.01		)	0.00		0.01		0.06
Net earnings per share	$	0.12		$	0.27	$	0.24	$	0.37


(a)	Income from continuing operations includes a tax benefit of $3.5 million relating to the release of valuation allowance previously recorded against the Company’s foreign deferred tax assets.