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Quarterly Data (Unaudited)
12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Data (Unaudited)
Quarterly Data (Unaudited)
The following tables summarize selected quarterly financial data for the years ended December 31, 2017 and 2016:
  
 
2017
(Thousands except per share amounts)
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
Total
Net sales
 
$
240,669

 
$
295,842

 
$
294,268

 
$
308,668

 
$
1,139,447

Gross margin
 
42,996

 
54,557

 
55,203

 
58,738

 
211,494

Percent of net sales
 
17.9
%
 
18.4
%
 
18.8
%
 
19.0
%
 
18.6
%
Net income (loss)
 
$
3,050

 
$
7,313

 
$
9,320

 
$
(8,232
)
 
$
11,451

Net income (loss) per share of common stock:
 
 
 
 
 
 
 
 
 
 
Basic(1)
 
$
0.15

 
$
0.37

 
$
0.47

 
$
(0.41
)
 
$
0.57

  Diluted(1)(2)
 
0.15

 
0.36

 
0.46

 
(0.41
)
 
0.56

Cash dividends per share of common stock
 
0.095

 
0.100

 
0.100

 
0.100

 
0.395

Stock price range:
 
 
 
 
 
 
 
 
 
 
High
 
$
41.10

 
$
38.85

 
$
43.43

 
$
52.10

 
 
Low
 
31.05

 
33.00

 
36.60

 
42.10

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2016
 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
Total
Net sales
 
$
235,511

 
$
249,776

 
$
249,619

 
$
234,330

 
$
969,236

Gross margin
 
43,357

 
45,306

 
50,755

 
44,045

 
183,463

Percent of net sales
 
18.4
%
 
18.1
%
 
20.3
%
 
18.8
%
 
18.9
%
Net income
 
$
5,368

 
$
5,549

 
$
8,045

 
$
6,778

 
$
25,740

Net income per share of common stock:
 
 
 
 
 
 
 
 
 
 
Basic
 
$
0.27

 
$
0.28

 
$
0.40

 
$
0.34

 
$
1.29

Diluted
 
0.27

 
0.27

 
0.40

 
0.33

 
1.27

Cash dividends per share of common stock
 
0.090

 
0.095

 
0.095

 
0.095

 
0.375

Stock price range:
 
 
 
 
 
 
 
 
 
 
High
 
$
28.26

 
$
31.83

 
$
32.28

 
$
41.23

 
 
Low
 
20.62

 
22.36

 
24.18

 
28.50

 
 

(1) Net income (loss) per basic and diluted share for the fourth quarter 2017 includes the impact of $17.1 million in income tax expense as a result of the TCJA signed into law on December 22, 2017. For additional information refer to Refer to Note G of the Consolidated Financial Statements.
(2) Since the Company reported a net loss for the fourth quarter of 2017, the effects of potential common shares were excluded from diluted earnings per share, as their inclusion would have been anti-dilutive.
The Company follows a 13-week quarterly accounting cycle pursuant to which the first three fiscal quarters end on a Friday and the fiscal year always ends on December 31.