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Condensed Consolidated Statements of Income (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Net sales $ 264,815 $ 221,389 $ 519,491 $ 356,139
Cost of sales 164,747 122,589 290,091 200,599
Gross profit 100,068 98,800 229,400 155,540
Operating expenses (income):        
Selling, general and administrative 28,838 20,557 52,771 38,283
Research and development 28,831 16,600 53,413 29,556
Amortization 1,489 1,238 2,624 2,476
Restructuring 11,125   11,125 (179)
Asset impairment 6,211   6,211  
Other, net (95) 525 (82) 350
Total operating expenses 76,399 38,920 126,062 70,486
Operating income 23,669 59,880 103,338 85,054
Interest expense, net 86 1,762 1,385 3,544
Loss on extinguishment of debt 3,045   3,349  
Income from continuing operations before income taxes 20,538 58,118 98,604 81,510
Income tax provision 1,326 8,188 26,309 8,755
Income from continuing operations 19,212 49,930 72,295 72,755
Discontinued operations:        
(Loss) income from discontinued operations before income taxes (397) 3,895 (895) 7,857
Income tax (benefit) provision (391) 1,432 (448) 2,175
(Loss) income from discontinued operations (6) 2,463 (447) 5,682
Net income $ 19,206 $ 52,393 $ 71,848 $ 78,437
Basic:        
Continuing operations (in dollars per share) $ 0.47 $ 1.26 $ 1.79 $ 1.85
Discontinued operations (in dollars per share)   $ 0.06 $ (0.01) $ 0.15
Income (in dollars per share) $ 0.47 $ 1.32 $ 1.78 $ 2.00
Diluted :        
Continuing operations (in dollars per share) $ 0.45 $ 1.15 $ 1.69 $ 1.75
Discontinued operations (in dollars per share)   $ 0.05 $ (0.01) $ 0.13
Income (in dollars per share) $ 0.45 $ 1.20 $ 1.68 $ 1.88
Weighted average shares outstanding:        
Basic (in shares) 40,998 39,761 40,433 39,283
Diluted (in shares) 43,002 43,506 42,780 41,683