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Supplemental Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2013
Supplemental Financial Information [Abstract] |
Consolidating Statements Of Operations | GIBRALTAR INDUSTRIES, INC. CONSOLIDATING STATEMENTS OF OPERATIONS YEAR ENDED DECEMBER 31, 2013 (in thousands)
|  | Gibraltar |  |  | Guarantor |  |  | Non-Guarantor |  |  |  |  |  |  |
|  | Industries, Inc. |  |  | Subsidiaries |  |  | Subsidiaries |  |  | Eliminations |  |  | Total |
Net sales | $ | – |  | $ | 758,790 |  | $ | 91,198 |  | $ | (22,421 | ) | $ | 827,567 |
Cost of sales |  | – |  |  | 610,049 |  |  | 81,073 |  |  | (21,652 | ) |  | 669,470 |
Gross profit |  | – |  |  | 148,741 |  |  | 10,125 |  |  | (769 | ) |  | 158,097 |
Selling, general, and administrative expense |  | 171 |  |  | 105,693 |  |  | 7,593 |  |  | – |  |  | 113,457 |
Intangible asset impairment |  | – |  |  | 1,000 |  |  | 22,160 |  |  | – |  |  | 23,160 |
(Loss) income from operations |  | (171 | ) |  | 42,048 |  |  | (19,628 | ) |  | (769 | ) |  | 21,480 |
Interest expense (income) |  | 21,214 |  |  | 1,399 |  |  | (124 | ) |  | – |  |  | 22,489 |
Other income |  | – |  |  | (177 | ) |  | – |  |  | – |  |  | (177 | )
(Loss) income before taxes |  | (21,385 | ) |  | 40,826 |  |  | (19,504 | ) |  | (769 | ) |  | (832 | )
(Benefit of) provision for income taxes |  | (7,480 | ) |  | 12,430 |  |  | (153 | ) |  | – |  |  | 4,797 |
(Loss) income from continuing operations |  | (13,905 | ) |  | 28,396 |  |  | (19,351 | ) |  | (769 | ) |  | (5,629 | )
Discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss before taxes |  | – |  |  | (7 | ) |  | – |  |  | – |  |  | (7 | )
Benefit of income taxes |  | – |  |  | (3 | ) |  | – |  |  | – |  |  | (3 | )
Loss from discontinued operations |  | – |  |  | (4 | ) |  | – |  |  | – |  |  | (4 | )
Equity in earnings from subsidiaries |  | 9,041 |  |  | (19,351 | ) |  | – |  |  | 10,310 |  |  | – |
Net (loss) income | $ | (4,864 | ) | $ | 9,041 |  | $ | (19,351 | ) | $ | 9,541 |  | $ | (5,633 | )
GIBRALTAR INDUSTRIES, INC. CONSOLIDATING STATEMENTS OF OPERATIONS YEAR ENDED DECEMBER 31, 2012 (in thousands)
|  | Gibraltar |  |  | Guarantor |  |  | Non-Guarantor |  |  |  |  |  |  |
|  | Industries, Inc. |  |  | Subsidiaries |  |  | Subsidiaries |  |  | Eliminations |  |  | Total |
Net sales | $ | – |  | $ | 712,279 |  | $ | 98,304 |  | $ | (20,525 | ) | $ | 790,058 |
Cost of sales |  | – |  |  | 574,647 |  |  | 85,407 |  |  | (19,556 | ) |  | 640,498 |
Gross profit |  | – |  |  | 137,632 |  |  | 12,897 |  |  | (969 | ) |  | 149,560 |
Selling, general, and administrative expense |  | 23 |  |  | 96,499 |  |  | 8,149 |  |  | – |  |  | 104,671 |
Intangible asset impairment |  | – |  |  | 4,628 |  |  | – |  |  | – |  |  | 4,628 |
(Loss) income from operations |  | (23 | ) |  | 36,505 |  |  | 4,748 |  |  | (969 | ) |  | 40,261 |
Interest expense (income) |  | 17,422 |  |  | 1,285 |  |  | (125 | ) |  | – |  |  | 18,582 |
Other income |  | – |  |  | (480 | ) |  | (8 | ) |  | – |  |  | (488 | )
(Loss) income before taxes |  | (17,445 | ) |  | 35,700 |  |  | 4,881 |  |  | (969 | ) |  | 22,167 |
(Benefit of) provision for income taxes |  | (6,524 | ) |  | 15,120 |  |  | 921 |  |  | – |  |  | 9,517 |
(Loss) income from continuing operations |  | (10,921 | ) |  | 20,580 |  |  | 3,960 |  |  | (969 | ) |  | 12,650 |
Discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss before taxes |  | – |  |  | (289 | ) |  | – |  |  | – |  |  | (289 | )
Benefit of income taxes |  | – |  |  | (284 | ) |  | – |  |  | – |  |  | (284 | )
Loss from discontinued operations |  | – |  |  | (5 | ) |  | – |  |  | – |  |  | (5 | )
Equity in earnings from subsidiaries |  | 24,535 |  |  | 3,960 |  |  | – |  |  | (28,495 | ) |  | – |
Net income | $ | 13,614 |  | $ | 24,535 |  | $ | 3,960 |  | $ | (29,464 | ) | $ | 12,645 |
GIBRALTAR INDUSTRIES, INC. CONSOLIDATING STATEMENTS OF OPERATIONS YEAR ENDED DECEMBER 31, 2011 (in thousands)
|  | Gibraltar |  |  | Guarantor |  |  | Non-Guarantor |  |  |  |  |  |  |
|  | Industries, Inc. |  |  | Subsidiaries |  |  | Subsidiaries |  |  | Eliminations |  |  | Total |
Net sales | $ | – |  | $ | 683,614 |  | $ | 104,077 |  | $ | (21,084 | ) | $ | 766,607 |
Cost of sales |  | – |  |  | 551,641 |  |  | 89,676 |  |  | (19,825 | ) |  | 621,492 |
Gross profit |  | – |  |  | 131,973 |  |  | 14,401 |  |  | (1,259 | ) |  | 145,115 |
Selling, general, and administrative expense |  | 75 |  |  | 99,090 |  |  | 9,792 |  |  | – |  |  | 108,957 |
(Loss) income from operations |  | (75 | ) |  | 32,883 |  |  | 4,609 |  |  | (1,259 | ) |  | 36,158 |
Interest expense (income) |  | 16,874 |  |  | 2,569 |  |  | (80 | ) |  | – |  |  | 19,363 |
Other income |  | – |  |  | (90 | ) |  | – |  |  | – |  |  | (90 | )
(Loss) income before taxes |  | (16,949 | ) |  | 30,404 |  |  | 4,689 |  |  | (1,259 | ) |  | 16,885 |
(Benefit of) provision for income taxes |  | (6,339 | ) |  | 13,180 |  |  | 828 |  |  | – |  |  | 7,669 |
(Loss) income from continuing operations |  | (10,610 | ) |  | 17,224 |  |  | 3,861 |  |  | (1,259 | ) |  | 9,216 |
Discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income before taxes |  | – |  |  | 13,621 |  |  | 219 |  |  | – |  |  | 13,840 |
Provision for income taxes |  | – |  |  | 6,432 |  |  | 101 |  |  | – |  |  | 6,533 |
Income from discontinued operations |  | – |  |  | 7,189 |  |  | 118 |  |  | – |  |  | 7,307 |
Equity in earnings from subsidiaries |  | 28,392 |  |  | 3,979 |  |  | – |  |  | (32,371 | ) |  | – |
Net income | $ | 17,782 |  | $ | 28,392 |  | $ | 3,979 |  | $ | (33,630 | ) | $ | 16,523 |
Consolidated Statements of Comprehensive Income | GIBRALTAR INDUSTRIES, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME YEAR ENDED DECEMBER 31, 2013 (in thousands)
|  | Gibraltar |  |  | Guarantor |  | Non-Guarantor |  |  |  |  |  |
|  | Industries, Inc. |  |  | Subsidiaries |  | Subsidiaries |  |  | Eliminations |  | Total |
Net (loss) income | $ | (4,864 | ) | $ | 9,041 | $ | (19,351 | ) | $ | 9,541 | $ | (5,633 | )
Other comprehensive (loss) income: |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment |  | – |  |  | – |  | (2,108 | ) |  | – |  | (2,108 | )
Adjustment to retirement benefit liability, |  |  |  |  |  |  |  |  |  |  |  |  |
net of tax |  | – |  |  | 53 |  | – |  |  | – |  | 53 |
Adjustment to post-retirement healthcare |  |  |  |  |  |  |  |  |  |  |  |  |
benefit liability, net of tax |  | – |  |  | 45 |  | – |  |  | – |  | 45 |
Other comprehensive income (loss) |  | – |  |  | 98 |  | (2,108 | ) |  | – |  | (2,010 | )
Total comprehensive (loss) income | $ | (4,864 | ) | $ | 9,139 | $ | (21,459 | ) | $ | 9,541 | $ | (7,643 | )
GIBRALTAR INDUSTRIES, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME YEAR ENDED DECEMBER 31, 2012 (in thousands)
|  | Gibraltar |  | Guarantor |  |  | Non-Guarantor |  |  |  |  |  |
|  | Industries, Inc. |  | Subsidiaries |  |  | Subsidiaries |  | Eliminations |  |  | Total |
Net income | $ | 13,614 | $ | 24,535 |  | $ | 3,960 | $ | (29,464 | ) | $ | 12,645 |
Other comprehensive (loss) income: |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment |  | – |  | – |  |  | 2,353 |  | – |  |  | 2,353 |
Adjustment to retirement benefit liability, |  |  |  |  |  |  |  |  |  |  |  |  |
net of tax |  | – |  | (79 | ) |  | – |  | – |  |  | (79 | )
Adjustment to post-retirement healthcare |  |  |  |  |  |  |  |  |  |  |  |  |
benefit liability, net of tax |  | – |  | (499 | ) |  | – |  | – |  |  | (499 | )
Other comprehensive (loss) income |  | – |  | (578 | ) |  | 2,353 |  | – |  |  | 1,775 |
Total comprehensive income | $ | 13,614 | $ | 23,957 |  | $ | 6,313 | $ | (29,464 | ) | $ | 14,420 |
GIBRALTAR INDUSTRIES, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME YEAR ENDED DECEMBER 31, 2011 (in thousands)
|  | Gibraltar |  | Guarantor |  |  | Non-Guarantor |  |  |  |  |  |  |
|  | Industries, Inc. |  | Subsidiaries |  |  | Subsidiaries |  |  | Eliminations |  |  | Total |
Net income | $ | 17,782 | $ | 28,392 |  | $ | 3,979 |  | $ | (33,630 | ) | $ | 16,523 |
Other comprehensive (loss) income: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment |  | – |  | – |  |  | (1,232 | ) |  | – |  |  | (1,232 | )
Adjustment to retirement benefit liability, |  |  |  |  |  |  |  |  |  |  |  |  |  |
net of tax |  | – |  | (187 | ) |  | – |  |  | – |  |  | (187 | )
Adjustment to post-retirement healthcare |  |  |  |  |  |  |  |  |  |  |  |  |  |
benefit liability, net of tax |  | – |  | 129 |  |  | – |  |  | – |  |  | 129 |
Other comprehensive loss |  | – |  | (58 | ) |  | (1,232 | ) |  | – |  |  | (1,290 | )
Total comprehensive income | $ | 17,782 | $ | 28,334 |  | $ | 2,747 |  | $ | (33,630 | ) | $ | 15,233 |
Consalidating Balance Sheets | GIBRALTAR INDUSTRIES, INC. CONSOLIDATING BALANCE SHEETS DECEMBER 31, 2013 (in thousands)
|  | Gibraltar |  | Guarantor |  |  | Non-Guarantor |  |  |  |  |  |
|  | Industries, Inc. |  | Subsidiaries |  |  | Subsidiaries |  |  | Eliminations |  |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | – | $ | 75,856 |  | $ | 21,183 |  | $ | – |  | $ | 97,039
Accounts receivable, net |  | – |  | 79,356 |  |  | 10,726 |  |  | – |  |  | 90,082
Intercompany balances |  | 23,618 |  | (1,655 | ) |  | (21,963 | ) |  | – |  |  | –
Inventories |  | – |  | 111,676 |  |  | 9,476 |  |  | – |  |  | 121,152
Other current assets |  | 7,578 |  | 5,722 |  |  | 827 |  |  | – |  |  | 14,127
Total current assets |  | 31,196 |  | 270,955 |  |  | 20,249 |  |  | – |  |  | 322,400
Property, plant, and equipment, net |  | – |  | 119,587 |  |  | 12,165 |  |  | – |  |  | 131,752
Goodwill |  | – |  | 334,123 |  |  | 7,051 |  |  | – |  |  | 341,174
Acquired intangibles |  | – |  | 86,014 |  |  | 5,763 |  |  | – |  |  | 91,777
Other assets |  | 3,415 |  | 3,643 |  |  | 1 |  |  | – |  |  | 7,059
Investment in subsidiaries |  | 652,689 |  | 33,259 |  |  | – |  |  | (685,948 | ) |  | –
| $ | 687,300 | $ | 847,581 |  | $ | 45,229 |  | $ | (685,948 | ) | $ | 894,162
Liabilities and Shareholders' Equity |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable | $ | – | $ | 62,464 |  | $ | 7,161 |  | $ | – |  | $ | 69,625
Accrued expenses |  | 5,551 |  | 42,418 |  |  | 1,910 |  |  | – |  |  | 49,879
Current maturities of long-term debt |  | – |  | 409 |  |  | – |  |  | – |  |  | 409
Total current liabilities |  | 5,551 |  | 105,291 |  |  | 9,071 |  |  | – |  |  | 119,913
Long-term debt |  | 210,000 |  | 3,598 |  |  | – |  |  | – |  |  | 213,598
Deferred income taxes |  | – |  | 52,746 |  |  | 2,378 |  |  | – |  |  | 55,124
Other non-current liabilities |  | – |  | 33,257 |  |  | 521 |  |  | – |  |  | 33,778
Shareholders' equity |  | 471,749 |  | 652,689 |  |  | 33,259 |  |  | (685,948 | ) |  | 471,749
| $ | 687,300 | $ | 847,581 |  | $ | 45,229 |  | $ | (685,948 | ) | $ | 894,162
GIBRALTAR INDUSTRIES, INC. CONSOLIDATING BALANCE SHEETS DECEMBER 31, 2012 (in thousands)
|  | Gibraltar |  |  | Guarantor |  | Non-Guarantor |  |  |  |  |  |
|  | Industries, Inc. |  |  | Subsidiaries |  | Subsidiaries |  |  | Eliminations |  |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | – |  | $ | 26,163 | $ | 21,865 |  | $ | – |  | $ | 48,028
Accounts receivable, net |  | – |  |  | 78,565 |  | 10,908 |  |  | – |  |  | 89,473
Intercompany balances |  | (16,349 | ) |  | 37,397 |  | (21,048 | ) |  | – |  |  | –
Inventories |  | – |  |  | 107,137 |  | 9,220 |  |  | – |  |  | 116,357
Other current assets |  | 6,524 |  |  | 5,815 |  | 1,041 |  |  | – |  |  | 13,380
Total current assets |  | (9,825 | ) |  | 255,077 |  | 21,986 |  |  | – |  |  | 267,238
Property, plant, and equipment, net |  | – |  |  | 140,394 |  | 11,219 |  |  | – |  |  | 151,613
Goodwill |  | – |  |  | 331,404 |  | 28,459 |  |  | – |  |  | 359,863
Acquired intangibles |  | – |  |  | 90,311 |  | 8,448 |  |  | – |  |  | 98,759
Other assets |  | 2,259 |  |  | 3,941 |  | 1 |  |  | – |  |  | 6,201
Investment in subsidiaries |  | 688,450 |  |  | 56,716 |  | – |  |  | (745,166 | ) |  | –
| $ | 680,884 |  | $ | 877,843 | $ | 70,113 |  | $ | (745,166 | ) | $ | 883,674
Liabilities and Shareholders' Equity |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable | $ | – |  | $ | 61,841 | $ | 7,219 |  | $ | – |  | $ | 69,060
Accrued expenses |  | 1,360 |  |  | 43,843 |  | 2,229 |  |  | – |  |  | 47,432
Current maturities of long-term debt |  | – |  |  | 1,093 |  | – |  |  | – |  |  | 1,093
Total current liabilities |  | 1,360 |  |  | 106,777 |  | 9,448 |  |  | – |  |  | 117,585
Long-term debt |  | 202,702 |  |  | 4,008 |  | – |  |  | – |  |  | 206,710
Deferred income taxes |  | – |  |  | 53,639 |  | 3,429 |  |  | – |  |  | 57,068
Other non-current liabilities |  | – |  |  | 24,969 |  | 520 |  |  | – |  |  | 25,489
Shareholders' equity |  | 476,822 |  |  | 688,450 |  | 56,716 |  |  | (745,166 | ) |  | 476,822
| $ | 680,884 |  | $ | 877,843 | $ | 70,113 |  | $ | (745,166 | ) | $ | 883,674
Condensed Consolidating Statements Of Cash Flows | GIBRALTAR INDUSTRIES, INC. CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS DECEMBER 31, 2013 (in thousands)
|  | Gibraltar |  |  |  |  |  |  |  |  |  |  |  |
|  | Industries, |  |  | Guarantor |  |  | Non-Guarantor |  |  |  |  |  |
|  | Inc. |  |  | Subsidiaries |  |  | Subsidiaries |  |  | Eliminations |  | Total |
Net cash (used in) provided by operating activities of continuing |  |  |  |  |  |  |  |  |  |  |  |  |  |
operations | $ | (9,023 | ) | $ | 64,994 |  | $ | 4,333 |  | $ | – | $ | 60,304 |
Net cash used in operating activities of discontinued operations |  | – |  |  | (9 | ) |  | – |  |  | – |  | (9 | )
Net cash (used in) provided by operating activities |  | (9,023 | ) |  | 64,985 |  |  | 4,333 |  |  | – |  | 60,295 |
Cash Flows from Investing Activities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash paid for acquisitions, net of cash acquired |  | – |  |  | (5,536 | ) |  | – |  |  | – |  | (5,536 | )
Purchases of property, plant, and equipment |  | – |  |  | (11,719 | ) |  | (3,221 | ) |  | – |  | (14,940 | )
Net proceeds from sale of property and equipment |  | – |  |  | 12,592 |  |  | 18 |  |  | – |  | 12,610 |
Net cash used in investing activities |  | – |  |  | (4,663 | ) |  | (3,203 | ) |  | – |  | (7,866 | )
Cash Flows from Financing Activities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt payments |  | (204,000 | ) |  | (1,094 | ) |  | – |  |  | – |  | (205,094 | )
Proceeds from long-term debt |  | 210,000 |  |  | – |  |  | – |  |  | – |  | 210,000 |
Payment of deferred financing fees |  | (3,858 | ) |  | (41 | ) |  | – |  |  | – |  | (3,899 | )
Payment of note redemption fees |  | (3,702 | ) |  | – |  |  | – |  |  | – |  | (3,702 | )
Purchase of treasury stock at market prices |  | (714 | ) |  | – |  |  | – |  |  | – |  | (714 | )
Intercompany financing |  | 10,577 |  |  | (9,494 | ) |  | (1,083 | ) |  | – |  | – |
Tax benefit from equity compensation |  | 72 |  |  | – |  |  | – |  |  | – |  | 72 |
Net proceeds from issuance of common stock |  | 648 |  |  | – |  |  | – |  |  | – |  | 648 |
Net cash provided by (used in) financing activities |  | 9,023 |  |  | (10,629 | ) |  | (1,083 | ) |  | – |  | (2,689 | )
Effect of exchange rate changes on cash |  | – |  |  | – |  |  | (729 | ) |  | – |  | (729 | )
Net increase (decrease) in cash and cash equivalents |  | – |  |  | 49,693 |  |  | (682 | ) |  | – |  | 49,011 |
Cash and cash equivalents at beginning of year |  | – |  |  | 26,163 |  |  | 21,865 |  |  | – |  | 48,028 |
Cash and cash equivalents at end of period | $ | – |  | $ | 75,856 |  | $ | 21,183 |  | $ | – | $ | 97,039 |
GIBRALTAR INDUSTRIES, INC. CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS DECEMBER 31, 2012 (in thousands)
|  | Gibraltar |  |  | Guarantor |  |  | Non-Guarantor |  |  |  |  |  |
|  | Industries, Inc. |  |  | Subsidiaries |  |  | Subsidiaries |  |  | Eliminations |  | Total |
Net cash (used in) provided by operating activities of continuing operations | $ | (16,435 | ) | $ | 58,628 |  | $ | 8,039 |  | $ | – | $ | 50,232 |
Net cash (used in) operating activities of discontinued operations |  | – |  |  | (151 | ) |  | – |  |  | – |  | (151 | )
Net cash (used in) provided by operating activities |  | (16,435 | ) |  | 58,477 |  |  | 8,039 |  |  | – |  | 50,081 |
Cash Flows from Investing Activities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash paid for acquisitions, net of cash acquired |  | – |  |  | (42,366 | ) |  | (2,705 | ) |  | – |  | (45,071 | )
Purchases of property, plant, and equipment |  | – |  |  | (9,868 | ) |  | (1,483 | ) |  | – |  | (11,351 | )
Net proceeds from sale of property and equipment |  | – |  |  | 311 |  |  | 348 |  |  | – |  | 659 |
Net cash used in investing activities |  | – |  |  | (51,923 | ) |  | (3,840 | ) |  | – |  | (55,763 | )
Cash Flows from Financing Activities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt payments |  | – |  |  | (473 | ) |  | – |  |  | – |  | (473 | )
Payment of deferred financing fees |  | – |  |  | (18 | ) |  | – |  |  | – |  | (18 | )
Purchase of treasury stock at market prices |  | (970 | ) |  | – |  |  | – |  |  | – |  | (970 | )
Intercompany financing |  | 17,116 |  |  | (14,590 | ) |  | (2,526 | ) |  | – |  | – |
Tax benefit from equity compensation |  | 11 |  |  | (1 | ) |  | – |  |  | – |  | 10 |
Net proceeds from issuance of common stock |  | 278 |  |  | – |  |  | – |  |  | – |  | 278 |
Net cash provided by (used in) financing activities |  | 16,435 |  |  | (15,082 | ) |  | (2,526 | ) |  | – |  | (1,173 | )
Effect of exchange rate changes on cash |  | – |  |  | – |  |  | 766 |  |  | – |  | 766 |
Net (decrease) increase in cash and cash equivalents |  | – |  |  | (8,528 | ) |  | 2,439 |  |  | – |  | (6,089 | )
Cash and cash equivalents at beginning of year |  | – |  |  | 34,691 |  |  | 19,426 |  |  | – |  | 54,117 |
Cash and cash equivalents at end of period | $ | – |  | $ | 26,163 |  | $ | 21,865 |  | $ | – | $ | 48,028 |
GIBRALTAR INDUSTRIES, INC. CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS DECEMBER 31, 2011 (in thousands)
|  | Gibraltar |  |  | Guarantor |  |  | Non-Guarantor |  |  |  |  |
|  | Industries, Inc. |  |  | Subsidiaries |  |  | Subsidiaries |  | Eliminations |  | Total |
Net cash (used in) provided by operating activities of continuing operations | $ | (15,876 | ) | $ | 56,841 |  | $ | 8,863 | $ | – | $ | 49,828 |
Net cash (used in) provided by operating activities of discontinued operations |  | – |  |  | (3,181 | ) |  | 48 |  | – |  | (3,133 | )
Net cash (used in) provided by operating activities |  | (15,876 | ) |  | 53,660 |  |  | 8,911 |  | – |  | 46,695 |
Cash Flows from Investing Activities |  |  |  |  |  |  |  |  |  |  |  |  |
Cash paid for acquisitions, net of cash acquired |  | – |  |  | (109,248 | ) |  | – |  | – |  | (109,248 | )
Purchases of property, plant, and equipment |  | – |  |  | (11,033 | ) |  | (519 | ) | – |  | (11,552 | )
Purchase of other investment |  | – |  |  | (250 | ) |  | – |  | – |  | (250 | )
Net proceeds from sale of property and equipment |  | – |  |  | 1,085 |  |  | 141 |  | – |  | 1,226 |
Net proceeds from sale of business |  | – |  |  | 67,529 |  |  | – |  | – |  | 67,529 |
Net cash used in investing activities of continuing operations |  | – |  |  | (51,917 | ) |  | (378 | ) | – |  | (52,295 | )
Net cash provided by investing activities of discontinued operations |  | – |  |  | 2,089 |  |  | – |  | – |  | 2,089 |
Net cash used in investing activities |  | – |  |  | (49,828 | ) |  | (378 | ) |  |  | (50,206 | )
Cash Flows from Financing Activities |  |  |  |  |  |  |  |  |  | – |  |  |
Long-term debt payments |  | – |  |  | (74,262 | ) |  | – |  | – |  | (74,262 | )
Proceeds from long-term debt |  | – |  |  | 73,849 |  |  | – |  | – |  | 73,849 |
Payment of deferred financing fees |  | – |  |  | (1,570 | ) |  | – |  | – |  | (1,570 | )
Purchase of treasury stock at market prices |  | (826 | ) |  | – |  |  | – |  | – |  | (826 | )
Intercompany financing |  | 16,668 |  |  | (13,507 | ) |  | (3,161 | ) | – |  | – |
Net proceeds from issuance of common stock |  | 34 |  |  | – |  |  | – |  | – |  | 34 |
Net cash provided by (used in) financing activities |  | 15,876 |  |  | (15,490 | ) |  | (3,161 | ) | – |  | (2,775 | )
Effect of exchange rate changes on cash |  | – |  |  | – |  |  | (463 | ) | – |  | (463 | )
Net (decrease) increase in cash and cash equivalents |  | – |  |  | (11,658 | ) |  | 4,909 |  | – |  | (6,749 | )
Cash and cash equivalents at beginning of year |  | – |  |  | 46,349 |  |  | 14,517 |  | – |  | 60,866 |
Cash and cash equivalents at end of period | $ | – |  | $ | 34,691 |  | $ | 19,426 | $ | – | $ | 54,117 |
Quarterly Financial Data | (in thousands, except per share data)
| 2013 Quarters Ended
|  | March 31 |  |  | June 30 |  | Sept. 30 |  |  | Dec. 31 |  | Total |
Net sales | $ | 196,801 |  | $ | 224,519 | $ | 217,412 |  | $ | 188,835 | $ | 827,567 |
Gross profit | $ | 36,177 |  | $ | 44,706 | $ | 41,762 |  | $ | 35,452 | $ | 158,097 |
Income (loss) from operations | $ | 5,196 |  | $ | 16,283 | $ | (6,152 | ) | $ | 6,153 | $ | 21,480 |
Interest expense | $ | 11,160 |  | $ | 3,690 | $ | 3,828 |  | $ | 3,811 | $ | 22,489 |
(Loss) income from continuing |  |  |  |  |  |  |  |  |  |  |  |  |
operations | $ | (3,643 | ) | $ | 7,732 | $ | (13,727 | ) | $ | 4,009 | $ | (5,629 | )
Loss from discontinued |  |  |  |  |  |  |  |  |  |  |  |  |
operations | $ | (4 | ) | $ | – | $ | – |  | $ | – | $ | (4 | )
Net (loss) income | $ | (3,647 | ) | $ | 7,732 | $ | (13,727 | ) | $ | 4,009 | $ | (5,633 | )
(Loss) income per share from |  |  |  |  |  |  |  |  |  |  |  |  |
continuing operations: |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | (0.12 | ) | $ | 0.25 | $ | (0.44 | ) | $ | 0.13 | $ | (0.18 | )
Diluted | $ | (0.12 | ) | $ | 0.25 | $ | (0.44 | ) | $ | 0.13 | $ | (0.18 | )
Income per share from |  |  |  |  |  |  |  |  |  |  |  |  |
discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 0.00 |  | $ | 0.00 | $ | 0.00 |  | $ | 0.00 | $ | 0.00 |
Diluted | $ | 0.00 |  | $ | 0.00 | $ | 0.00 |  | $ | 0.00 | $ | 0.00 |
| 2012 Quarters Ended
|  | March 31 |  |  | June 30 |  |  | Sept. 30 |  | Dec. 31 |  |  | Total |
Net sales | $ | 192,171 |  | $ | 219,734 |  | $ | 205,514 | $ | 172,639 |  | $ | 790,058 |
Gross profit | $ | 35,481 |  | $ | 41,726 |  | $ | 40,228 | $ | 32,125 |  | $ | 149,560 |
Income from operations | $ | 7,023 |  | $ | 16,293 |  | $ | 15,749 | $ | 1,196 |  | $ | 40,261 |
Interest expense | $ | 4,674 |  | $ | 4,627 |  | $ | 4,688 | $ | 4,593 |  | $ | 18,582 |
Income (loss) from continuing |  |  |  |  |  |  |  |  |  |  |  |  |  |
operations | $ | 1,449 |  | $ | 7,915 |  | $ | 7,022 | $ | (3,736 | ) | $ | 12,650 |
(Loss) income from discontinued |  |  |  |  |  |  |  |  |  |  |  |  |  |
operations | $ | (87 | ) | $ | (9 | ) | $ | 279 | $ | (188 | ) | $ | (5 | )
Net income (loss) | $ | 1,362 |  | $ | 7,906 |  | $ | 7,301 | $ | (3,924 | ) | $ | 12,645 |
Income (loss) per share from |  |  |  |  |  |  |  |  |  |  |  |  |  |
continuing operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 0.05 |  | $ | 0.26 |  | $ | 0.23 | $ | (0.12 | ) | $ | 0.41 |
Diluted | $ | 0.05 |  | $ | 0.26 |  | $ | 0.23 | $ | (0.12 | ) | $ | 0.41 |
(Loss) income per share from |  |  |  |  |  |  |  |  |  |  |  |  |  |
discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | (0.01 | ) | $ | 0.00 |  | $ | 0.01 | $ | (0.01 | ) | $ | 0.00 |
Diluted | $ | (0.01 | ) | $ | 0.00 |  | $ | 0.01 | $ | (0.01 | ) | $ | 0.00 |

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