Selected Quarterly Data (Unaudited)

12 Months Ended

Dec. 31, 2019

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 2019, the Company’s interim quarterly periods ended March 30, June 29, September 28 and December 31. In 2018, the Company’s interim quarterly periods ended March 31, June 30, September 29 and December 31.

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



	2019
(in millions, except per share data)	March 31^(a)		June 30^(b)		September 30^(c)		December 31^(d)
Net sales	$	273.8	$	324.3	$	308.8	$	314.4
Gross profit	70.3		89.0		82.0		81.5

Income from continuing operations	17.5		32.8		28.4		29.7
Gain from discontinued operations and disposal, net	—		—		—		0.1
Net income	$	17.5	$	32.8	$	28.4	$	29.8
Diluted earnings per share:
Earnings from continuing operations	$	0.29	$	0.54	$	0.46	$	0.48
Earnings from discontinued operations	—		—		—		0.00
Net earnings per share	$	0.29	$	0.54	$	0.46	$	0.48


(a)	Income from continuing operations includes pre-tax purchase accounting expenses and acquisition and integration-related expenses of $0.1 million and $0.6 million, respectively.


(b)	Income from continuing operations includes pre-tax purchase accounting expenses and acquisition and integration-related expenses of $0.2 million and $0.9 million, respectively.


(c)	Income from continuing operations includes pre-tax purchase accounting expenses and acquisition and integration-related expenses of $0.2 million and $0.4 million, respectively.


(d)	Income from continuing operations includes pre-tax purchase accounting expenses and acquisition and integration-related expenses of $0.3 million and $0.6 million, respectively, as well as a $0.8 million benefit from changes in state deferred tax valuation allowances.



	2018
(in millions, except per share data)	March 31^(a)		June 30^(b)		September 30^(c)		December 31^(d)
Net sales	$	249.7	$	291.0	$	269.4	$	279.4
Gross profit	61.9		79.2		69.0		72.0

Income from continuing operations	12.9		26.9		21.7		32.2
Gain from discontinued operations and disposal, net	—		—		—		0.3
Net income	$	12.9	$	26.9	$	21.7	$	32.5
Diluted earnings per share:
Earnings from continuing operations	$	0.21	$	0.44	$	0.36	$	0.53
Earnings from discontinued operations	—		—		—		0.00
Net earnings per share	$	0.21	$	0.44	$	0.36	$	0.53


(a)	Income from continuing operations includes pre-tax purchase accounting expenses, acquisition and integration-related expenses and hearing loss settlement charges of $0.6 million, $0.5 million and $0.4 million, respectively.


(b)	Income from continuing operations includes pre-tax purchase accounting expenses and acquisition and integration-related expenses of $0.4 million and $0.4 million, respectively.


(c)	Income from continuing operations includes pre-tax purchase accounting expenses and acquisition and integration-related expenses of $0.1 million and $0.4 million, respectively.

(d)

Income from continuing operations includes pre-tax purchase accounting expenses and acquisition and integration-related expenses of $0.1 million and $0.2 million, respectively, as well as an $8.6 million net benefit from tax planning strategies.