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Unaudited Quarterly Financial Data
 12 Months Ended
Dec. 31, 2014
Unaudited Quarterly Financial Data [Abstract]  
Unaudited Quarterly Financial Data

13. Unaudited Quarterly Financial Data

 

The following is a summary of quarterly results of operations: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter ended

2014

 

December 31

 

September 30

 

June 30

 

March 31

Net sales

$
166,811 

$
170,338 

$
162,099 

$
161,331 

Gross profit

 
44,901 

 
49,550 

 
48,285 

 
48,138 

Operating income (loss) (B)

 
(22,795)

 
13,759 

 
(23,221)

 
6,434 

Provision (benefit) for income taxes

 
(1,066)

 
(1,174)

 
90 

 
294 

Income (loss) from continuing operations (C)

 
(31,306)

 
9,138 

 
(28,569)

 
(467)

Income (loss) from discontinued operations (D)

 
(1,692)

 
(8,108)

 
(544)

 
957 

Net income (loss) (B) (C)

 
(32,998)

 
1,030 

 
(29,113)

 
490 

Net income (loss) attributable to noncontrolling interests (B)

 
(6,444)

 
1,160 

 
(7,221)

 
(978)

Net income (loss) attributable to Stoneridge, Inc. (B) (C)

$
(26,554)

$
(130)

$
(21,892)

$
1,468 

Earnings (loss) per share from continuing operations

 

 

 

 

 

 

 

 

attributable to Stoneridge, Inc.:

 

 

 

 

 

 

 

 

Basic (A)

$
(0.92)

$
0.30 

$
(0.79)

$
0.02 

Diluted (A)

$
(0.92)

$
0.29 

$
(0.79)

$
0.02 

Earnings (loss) per share attributable to discontinued

 

 

 

 

 

 

 

operations:

 

 

 

 

 

 

 

 

Basic (A)

$
(0.07)

$
(0.30)

$
(0.02)

$
0.03 

Diluted (A)

$
(0.07)

$
(0.29)

$
(0.02)

$
0.03 

Earnings (loss) per share attributable to Stoneridge, Inc.:

 

 

 

 

 

 

 

 

Basic (A)

$
(0.99)

$
0.00 

$
(0.81)

$
0.05 

Diluted (A)

$
(0.99)

$
0.00 

$
(0.81)

$
0.05 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter ended

2013

 

December 31

 

September 30

 

June 30

 

March 31

Net sales

$
169,235 

$
161,556 

$
169,833 

$
158,862 

Gross profit

 
50,643 

 
49,729 

 
54,303 

 
51,280 

Operating income

 
9,558 

 
12,602 

 
11,752 

 
8,491 

Provision for income taxes

 
537 

 
794 

 
775 

 
691 

Income from continuing operations

 
3,489 

 
7,459 

 
6,413 

 
3,168 

Income (loss) from discontinued operations

 
(3,168)

 
(1,946)

 
(22)

 
1,115 

Net income

 
321 

 
5,513 

 
6,391 

 
4,283 

Net income attributable to noncontrolling interests

 
117 

 
466 

 
634 

 
160 

Net income attributable to Stoneridge, Inc.

$
204 

$
5,047 

$
5,757 

$
4,123 

Earnings per share from continuing operations

 

 

 

 

 

 

 

 

attributable to Stoneridge, Inc.:

 

 

 

 

 

 

 

 

Basic (A)

$
0.13 

$
0.26 

$
0.22 

$
0.11 

Diluted (A)

$
0.12 

$
0.26 

$
0.21 

$
0.11 

Earnings (loss) per share attributable to discontinued

 

 

 

 

 

 

 

operations:

 

 

 

 

 

 

 

 

Basic (A)

$
(0.12)

$
(0.07)

$
0.00 

$
0.04 

Diluted (A)

$
(0.11)

$
(0.07)

$
0.00 

$
0.04 

Earnings per share attributable to Stoneridge, Inc.:

 

 

 

 

 

 

 

 

Basic (A)

$
0.01 

$
0.19 

$
0.22 

$
0.15 

Diluted (A)

$
0.01 

$
0.19 

$
0.21 

$
0.15 

 

 

(A)

Earnings per share for the year may not equal the sum of the four historical quarters earnings per share due to changes in weighted-average basic and diluted shares outstanding.

(B)

Goodwill impairment of $29,300,  $(5,802), and $27,960 related to the PST segment was recorded for the quarters ended June 30, 2014, September 30, 2014 and December 31, 2014, respectively, of which $6,436,  $(1,274) and $6,142 was attributable to noncontrolling interest.

(C)

In addition to the PST goodwill impairment amounts in item (B) herein, a loss on early extinguishment of debt of  $920 and $9,687 was recorded for the quarters ended September 30, 2014 and December 31, 2014, respectively.

(D)

A loss on disposal of the Wiring business was recorded for $1,138,  $6,548 and $890 for the quarters ended June 30, 2014, September 30, 2014 and December 31, 2014, respectively.