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Unaudited Quarterly Financial Data

12 Months Ended

Dec. 31, 2020

Unaudited Quarterly Financial Data [Abstract]

Unaudited Quarterly Financial Data

15. Unaudited Quarterly Financial Data

The following is a summary of quarterly results of operations:

Quarter ended

2020

December 31

September 30

June 30

March 31

Net sales

$

189,731

$

175,764

$

99,545

$

182,966

Gross profit

49,550

45,995

13,254

45,397

Operating income (loss)

5,673

9,827

(26,823)

3,659

Income tax expense (benefit)

920

1,814

(6,721)

1,213

Net income (loss)

3,580

6,714

(21,734)

3,490

Earnings (loss) per share:

Basic ^(A)

$

0.13

$

0.25

$

(0.81)

$

0.13

Diluted ^(A)

$

0.13

$

0.25

$

(0.81)

$

0.13


											Quarter ended
2019		December 31			September 30			June 30 ^(B)			March 31
Net sales		$	190,365		$	203,386		$	222,241		$	218,297
Gross profit			44,198			51,855			56,827			60,853
Operating income			1,073			9,323			49,186			11,699
Income tax (benefit) expense			(4,249)			1,450			9,066			1,835
Net income			4,209			6,661			39,764			9,657
Earnings per share:
Basic ^(A)		$	0.15		$	0.24		$	1.43		$	0.34
Diluted ^(A)		$	0.15		$	0.24		$	1.41		$	0.33

(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 Company recognized a gain on disposal of Non-core Products in our Control Devices segment, net of $33,599 in the quarter ended June 30, 2019. See Note 2 to the Company’s consolidated financial statements for further information.