XML 37 R20.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Interim Financial Data (Unaudited) | 12 Months Ended
--- | ---
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract] |
Interim Financial Data (Unaudited) |
14. | INTERIM FINANCIAL DATA (Unaudited)
|  | Three Months Ended |
|  | December 31, 2016 |  |  | September 30, 2016 |  |  | June 30, 2016 |  |  | March 31, 2016 |  |  | December 31, 2015 |  |  | September 30, 2015 |  |  | June 30, 2015 |  |  | March 31, 2015 |
|  | (In thousands, except share and per share data) |
Net sales |  |  | 95,322 |  |  |  | 106,168 |  |  |  | 146,450 |  |  |  | 131,676 |  |  |  | 89,202 |  |  |  | 94,023 |  |  |  | 136,779 |  |  |  | 120,800 |
Gross profit |  |  | 38,113 |  |  |  | 29,945 |  |  |  | 61,410 |  |  |  | 57,627 |  |  |  | 31,955 |  |  |  | 22,143 |  |  |  | 52,524 |  |  |  | 48,247 |
Net income |  |  | 12,629 |  |  |  | 7,787 |  |  |  | 23,725 |  |  |  | 23,706 |  |  |  | 8,086 |  |  |  | 3,744 |  |  |  | 18,715 |  |  |  | 17,553 |
Basic net income per share |  | $ | 0.43 |  |  | $ | 0.27 |  |  | $ | 0.81 |  |  | $ | 0.80 |  |  | $ | 0.26 |  |  | $ | 0.12 |  |  | $ | 0.59 |  |  | $ | 0.55 |
Basic weighted average common shares outstanding |  |  | 29,318,915 |  |  |  | 29,295,284 |  |  |  | 29,264,362 |  |  |  | 29,697,722 |  |  |  | 30,766,943 |  |  |  | 31,227,643 |  |  |  | 31,735,333 |  |  |  | 31,683,672 |
Diluted net income per share |  | $ | 0.43 |  |  | $ | 0.26 |  |  | $ | 0.80 |  |  | $ | 0.79 |  |  | $ | 0.26 |  |  | $ | 0.12 |  |  | $ | 0.58 |  |  | $ | 0.55 |
Diluted weighted average common shares outstanding |  |  | 29,543,842 |  |  |  | 29,516,718 |  |  |  | 29,477,870 |  |  |  | 29,910,292 |  |  |  | 30,966,682 |  |  |  | 31,537,010 |  |  |  | 32,142,939 |  |  |  | 32,094,828 |
The Company’s net sales, gross profit and income from operations have historically varied from quarter to quarter. Such variations are often attributable to seasonal trends in the demand for Trex products. The Company has historically experienced lower net sales during the fourth quarter because holidays and adverse weather conditions in certain regions reduce the level of home improvement and construction activity. The Company elected to early adopt ASU No. 2016-09, “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (ASU No. 2016-09) in the quarterly period ended December 31, 2016, with adoption as of January 1, 2016. The effect on previously reported data for the quarterly periods ended September 30, June 30, and March 31, 2016 is presented in the below table. Also, see the related discussion in Note 2, “Summary of Significant Accounting Policies: Recently Adopted Accounting Standards,” to these Consolidated Financial Statements.
|  | Three Months Ended |
|  | September 30, 2016 |  |  |  |  |  | June 30, 2016 |  |  |  |  |  | March 31, 2016 |
|  | As Reported |  |  | Adjusted |  |  |  |  |  | As Reported |  |  | Adjusted |  |  |  |  |  | As Reported |  |  | Adjusted |
|  | (In thousands, except share and per share data) |
Net income |  | $ | 6,898 |  |  | $ | 7,787 |  |  |  |  |  |  | $ | 23,279 |  |  | $ | 23,725 |  |  |  |  |  |  | $ | 23,402 |  |  | $ | 23,706 |
Basic net income per share |  | $ | 0.24 |  |  | $ | 0.27 |  |  |  |  |  |  | $ | 0.80 |  |  | $ | 0.81 |  |  |  |  |  |  | $ | 0.79 |  |  | $ | 0.80 |
Diluted net income per share |  | $ | 0.23 |  |  | $ | 0.26 |  |  |  |  |  |  | $ | 0.79 |  |  | $ | 0.80 |  |  |  |  |  |  | $ | 0.78 |  |  | $ | 0.79 |
Diluted weighted average common shares outstanding |  |  | 29,457,653 |  |  |  | 29,516,718 |  |  |  |  |  |  |  | 29,423,845 |  |  |  | 29,477,870 |  |  |  |  |  |  |  | 29,860,730 |  |  |  | 29,910,292 |

X
- References No definition available. + Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=68076893&loc=d3e1570-108306 Reference 2: 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=68064558&loc=d3e765-108305 Reference 3: 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=68064558&loc=d3e725-108305 + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration