Quarterly Results of Operations (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Results of Operations (Unaudited) [Abstract]

Schedule of Quarterly Financial Information [Table Text Block]

QUARTERLY RESULTS OF OPERATIONS (Unaudited)

(in millions, except per share data)


	2020
	1st Qtr.		2nd Qtr.		3rd Qtr.		4th Qtr.		Year
Revenue	$	45.0	$	75.7	$	33.6	$	92.9	$	247.2
Cost of sales	25.4		31.9		34.4		57.9		149.6
Gross profit (loss)	19.6		43.8		(0.8)		35.0		97.6
Advanced technology costs	0.9		0.7		0.2		1.0		2.8
Selling, general and administrative	8.5		10.4		6.7		10.4		36.0
Amortization of intangible assets	1.4		1.7		1.2		2.5		6.8
Special charges (credits) for workforce reductions	(0.1)		—		0.6		0.1		0.6
Other (income) expense, net	—		—		—		0.4		0.4
Operating income (loss)	8.9		31.0		(9.5)		20.6		51.0
Nonoperating components of net periodic benefit expense (income)	(2.2)		(2.2)		(2.2)		5.0		(1.6)
Interest expense	0.1		—		—		—		0.1
Investment income	(0.4)		—		(0.1)		—		(0.5)
Income tax (benefit) expense	0.1		(0.5)		(0.2)		(0.8)		(1.4)
Net income (loss)	$	11.3	$	33.7	$	(7.0)	$	16.4	$	54.4
Preferred stock dividends - undeclared and cumulative	2.0		2.0		1.9		0.8		6.7
Distributed earnings allocable to retired preferred shares	—		—		—		41.9		41.9
Net income (loss) allocable to common stockholders	$	9.3	$	31.7	$	(8.9)	$	(26.3)	$	5.8

Net income (loss) per share:
Basic	$	0.97	$	3.28	$	(0.83)	$	(2.55)	$	0.59
Diluted	$	0.95	$	3.19	$	(0.83)	$	(2.55)	$	0.57


	2019
	1st Qtr.		2nd Qtr.		3rd Qtr.		4th Qtr.		Year
Revenue	$	38.7	$	10.6	$	104.7	$	55.7	$	209.7
Cost of sales	44.2		14.9		69.2		48.9		177.2
Gross profit (loss)	(5.5)		(4.3)		35.5		6.8		32.5
Advanced technology costs	6.6		5.1		1.3		1.6		14.6
Selling, general and administrative	8.1		7.7		8.7		9.2		33.7
Amortization of intangible assets	1.1		1.2		1.8		2.4		6.5
Special charges for workforce reductions	(0.1)		(2.9)		0.8		0.3		(1.9)
Other (income) expense, net	(0.4)		(0.1)		(0.2)		—		(0.7)
Operating income (loss)	(20.8)		(15.3)		23.1		(6.7)		(19.7)
Nonoperating components of net periodic benefit expense (income)	(0.1)		—		(0.1)		(4.1)		(4.3)
Interest expense	1.0		1.0		0.9		0.1		3.0
Investment income	(0.7)		(0.7)		(0.5)		(0.3)		(2.2)
Income tax (benefit) expense	(0.1)		—		—		0.4		0.3
Net income (loss)	$	(20.9)	$	(15.6)	$	22.8	$	(2.8)	$	(16.5)
Preferred stock dividends - undeclared and cumulative	2.0		2.0		1.9		1.9		7.8
Net income (loss) allocable to common stockholders	$	(22.9)	$	(17.6)	$	20.9	$	(4.7)	$	(24.3)

Net income (loss) per share:
Basic	$	(2.40)	$	(1.84)	$	2.18	$	(0.49)	$	(2.54)
Diluted	$	(2.40)	$	(1.84)	$	2.17	$	(0.49)	$	(2.54)

The calculation of net income (loss) per share on a dilutive basis is provided in Note 15, Net Income (Loss) Per Share. No dilutive effect is recognized in periods in which a net loss has occurred or in which the assumed conversion effect of options or convertible securities is anti-dilutive.