XML 31 R25.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Selected Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data (Unaudited) Selected Quarterly Financial Data (Unaudited)

Selected quarterly financial data for 2019 and 2018 are as follows:
 
Three Months Ended
 
March(1)
 
June(2)
 
September(3)
 
December(4)
2019
 
 
 
 
 
 
 
Net sales
$
218,378

 
$
238,263

 
$
233,590

 
$
264,865

Gross profit
121,438

 
131,190

 
130,111

 
141,975

Net income
1,021

 
5,695

 
6,970

 
14,933

EPS:
 

 
 

 
 

 
 

Basic
$
.04

 
$
.20

 
$
.25

 
$
.53

Diluted
.04

 
.19

 
.23

 
.49


 
Three Months Ended
 
March
 
June
 
September(5)
 
December(6)
2018
 
 
 
 
 
 
 
Net sales
$
202,064

 
$
212,820

 
$
202,307

 
$
242,444

Gross profit
109,557

 
116,271

 
110,627

 
132,655

Net income
10,657

 
8,719

 
5,825

 
15,653

EPS:
 

 
 

 
 

 
 

Basic
$
.38

 
$
.31

 
$
.21

 
$
.56

Diluted
.37

 
.30

 
.20

 
.54



Items Included In Selected Quarterly Financial Data:

(1)
The first quarter of 2019 includes pre-tax business acquisition costs of $7.9 million and debt refinancing costs of $3.9 million.

(2)
The second quarter of 2019 includes pre-tax business acquisition costs of $3.0 million.

(3)
The third quarter of 2019 includes pre-tax business acquisition costs of $1.7 million and manufacturing consolidation costs of $1.4 million. In the third quarter of 2019, our average share price exceeded the conversion price of our 2.625% convertible notes due in 2024 (the "Notes") and we included 0.2 million shares assumed to be issued if the Notes were converted in our diluted share count for the computation of diluted earnings per share.

(4)
The fourth quarter of 2019 includes pre-tax business acquisition costs of $1.9 million and manufacturing consolidation costs of $1.4 million. In the fourth quarter of 2019, our average share price exceeded the conversion price of our 2.625% convertible notes due in 2024 (the "Notes") and we included 0.6 million shares assumed to be issued if the Notes were converted in our diluted share count for the computation of diluted earnings per share.

(5)
The third quarter of 2018 includes pre-tax business acquisition costs of $1.1 million and in-process research and development impairment charges of $4.2 million.

(6)
The fourth quarter of 2018 includes pre-tax business acquisition costs of $1.3 million.