Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

Note 13 – Quarterly results of operations (unaudited):

	Quarter ended
	March 31		June 30		Sept. 30		Dec. 31
	(In millions, except per share amounts)
2017:
Net sales	$	29.9	$	30.0	$	27.0	$	25.1
Gross profit		9.7		9.5		8.2		7.4
Operating income		4.5		4.6		3.4		2.7
Net income		3.2		3.3		2.5		4.3

Basic and diluted earnings per share	$	.25	$	.27	$	.20	$	.34
2018:
Net sales	$	28.4	$	32.4	$	30.0	$	27.4
Gross profit		9.5		11.2		9.6		7.9
Operating income		4.4		6.0		4.5		2.9
Net income		3.7		5.0		3.9		2.7

Basic and diluted earnings per share	$	.30	$	.40	$	.32	$	.22

During the fourth quarter of 2017, we recognized a non-cash deferred income tax benefit of $1.9 million related to the revaluation of our net deferred income tax liability resulting from the reduction in the U.S. federal corporate income tax rate enacted into law on December 22, 2017 (see Note 7). The sum of the quarterly per share amounts may not equal the annual per share amounts due to relative changes in the weighted-average number of shares used in the per share computations.