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Summary of Unaudited Quarterly Results of Operations
 12 Months Ended
Dec. 31, 2011
Summary of Unaudited Quarterly Results of Operations [Abstract]  
Summary of Unaudited Quarterly Results of Operations

Note 20 — Summary of Unaudited Quarterly Results of Operations

Unaudited quarterly results of operations for the years ended December 31, 2011 and 2010 are summarized as follows:

 

      September 30,       September 30,       September 30,       September 30,  
    (Dollars in thousands, except per share data)
2011 Quarter Ended		  
    Dec. 31     Sep. 30     June 30     Mar. 31  
         

Net sales

   $ 72,860     $ 75,366     $ 84,154     $ 82,579  

Gross profit

     38,993       42,546       48,299       49,939  
         

Income (loss) from continuing operations (1)

   $ (5,373 )    $ (2,154 )    $ 1,088     $ 2,050  

Loss from discontinued operations

     (174 )      (9 )      (22 )      (30 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss)

   $ (5,547 )    $ (2,163 )    $ 1,066     $ 2,020  
   

 

 

    

 

 

    

 

 

    

 

 

  
         

Basic income (loss) per share of common stock:

                                

Continuing operations (2)

   $ (0.63 )    $ (0.25 )    $ 0.13     $ 0.24  

Discontinued operations (2)

     (0.02 )      —         (0.01 )      —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss) (2)

   $ (0.65 )    $ (0.25 )    $ 0.12     $ 0.24  
   

 

 

    

 

 

    

 

 

    

 

 

  
         

Diluted income (loss) per share of common stock:

                                

Continuing operations (2)

   $ (0.63 )    $ (0.25 )    $ 0.13     $ 0.24  

Discontinued operations (2)

     (0.02 )      —         (0.01 )      (0.01 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss) (2)

   $ (0.65 )    $ (0.25 )    $ 0.12     $ 0.23  
   

 

 

    

 

 

    

 

 

    

 

 

  

 

      September 30,       September 30,       September 30,       September 30,  
    2010 Quarter Ended  
    Dec. 31     Sep. 30     June 30     Mar. 31  
         

Net sales

   $ 80,012     $ 81,553     $ 80,305     $ 74,910  

Gross profit

     49,764       49,948       48,789       46,325  
         

Income from continuing operations (3)

   $ 112     $ 5,766     $ 1,480     $ 2,232  

Income (loss) from discontinued operations

     (623 )      (2,337 )      207       100  
   

 

 

    

 

 

    

 

 

    

 

 

  

Net Income (loss)

   $ (511 )    $ 3,429     $ 1,687     $ 2,332  
   

 

 

    

 

 

    

 

 

    

 

 

  
         

Basic and diluted income (loss) per share of common stock:

                                

Continuing operations (2)

   $ 0.01     $ 0.68     $ 0.17     $ 0.26  

Discontinued operations (2)

     (0.07 )      (0.28 )      0.03       0.01  
   

 

 

    

 

 

    

 

 

    

 

 

  

Net Income (loss)

   $ (0.06 )    $ 0.40     $ 0.20     $ 0.27  
   

 

 

    

 

 

    

 

 

    

 

 

  

 

(1)

Loss from continuing operations for the three months ended December 31, 2011 includes an $0.8 million net expense for the estimated cost of settling an employment tax matter and a net $0.8 million asset impairment charge.

 

(2)

The sum of the quarterly earnings per share amounts may not equal the total annual earnings per share due to rounding and the uneven timing of earnings throughout the year compared to the weighted average shares outstanding.

 

(3)

Income from continuing operations for the three months ended September 31, 2010 and March 31, 2010, respectively, includes a net benefit of $2.1 million and $0.3 million related to the Share litigation. Income from continuing operations for the three months ended March 31, 2010 includes a net gain of $1.0 million from the sale of the Dallas, Texas distribution center.