Unaudited Quarterly Financial Data

12 Months Ended

Dec. 31, 2017

Unaudited Quarterly Financial Data [Abstract]

14. Unaudited Quarterly Financial Data

The following is a summary of quarterly results of operations:


							Quarter ended
2017		December 31		September 30		June 30		March 31
Net sales	$	207,440	$	203,582	$	209,111	$	204,311
Gross profit		61,026		62,549		63,414		61,151
Operating income		13,234		13,296		15,676		15,164
Income tax (benefit) expense (B)		(6,036)		3,809		5,189		4,571
Net income		18,908		8,049		8,919		9,173
Net loss attributable to noncontrolling interests		-		-		(100)		(30)
Net income attributable to Stoneridge, Inc.		18,908		8,049		9,019		9,203
Earnings per share attributable to Stoneridge, Inc.:
Basic (A)	$	0.67	$	0.29	$	0.32	$	0.33
Diluted (A)	$	0.65	$	0.28	$	0.32	$	0.32

							Quarter ended
2016		December 31		September 30		June 30		March 31
Net sales	$	172,612	$	173,846	$	186,903	$	162,616
Gross profit		47,779		49,748		52,751		45,161
Operating income		10,170		11,780		13,626		8,506
Income tax (benefit) expense (C)		(39,503)		919		1,350		845
Net income		48,489		9,981		10,995		6,109
Net income (loss) attributable to noncontrolling interests		122		(303)		(576)		(1,130)
Net income attributable to Stoneridge, Inc.		48,367		10,284		11,571		7,239
Earnings per share attributable to Stoneridge, Inc.:
Basic (A)	$	1.74	$	0.37	$	0.42	$	0.26
Diluted (A)	$	1.70	$	0.36	$	0.41	$	0.26

(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)

The impact of the Tax Legislation was an increase in tax expense of $6.2 million due to the one-time deemed repatriation tax, offset by the favorable impacts of the reduced tax rate on the Company’s net deferred tax liabilities and other deferred tax adjustments of $(15.3) million related to certain earnings included in the one-time transition tax.

(C)

The Company recorded the release of a valuation allowance associated with its U.S. federal, certain state and foreign deferred tax assets for the year ended December 31, 2016.