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Selected Quarterly Data (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2012
Quarterly Financial Data [Abstract]  
Select Quarterly Data (Unaudited)
The results of Tube Supply, acquired during December 2011, were included in the 2012 selected quarterly data in the table below.
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
2012
 
 
 
 
 
 
 
Net sales
$
362,916

 
$
329,392

 
$
304,039

 
$
274,021

Gross profit (a)
53,810

 
43,763

 
42,867

 
28,518

Net (loss) income (c)
(4,300
)
 
(2,978
)
 
3,173

 
(5,643
)
Basic (loss) earnings per share
$
(0.19
)
 
$
(0.13
)
 
$
0.14

 
$
(0.24
)
Diluted (loss) earnings per share
$
(0.19
)
 
$
(0.13
)
 
$
0.13

 
$
(0.24
)
Common stock dividends declared
$
—

 
$
—

 
$
—

 
$
—

2011
 
 
 
 
 
 
 
Net sales
$
272,788

 
$
282,568

 
$
294,860

 
$
282,150

Gross profit (a)
33,219

 
35,165

 
33,233

 
29,770

Net income (loss) (b)
2,703

 
3,697

 
3,803

 
(11,963
)
Basic earnings (loss) per share
$
0.12

 
$
0.16

 
$
0.17

 
$
(0.52
)
Diluted earnings (loss) per share
$
0.12

 
$
0.16

 
$
0.16

 
$
(0.52
)
Common stock dividends declared
$
—

 
$
—

 
$
—

 
$
—

(a)
Gross profit equals net sales minus cost of materials, warehouse, processing, and delivery costs and less depreciation and amortization expense.
(b)
Fourth quarter results include fees incurred as a result of the acquisition of Tube Supply and the related debt refinancing in December 2011. The results of Tube Supply are included in the fourth quarter results for the two-week period ended December 31, 2011 and for the entire fiscal year ended December 31, 2012. In addition, a mark-to-market adjustment related to the conversion option associated with the convertible debt in the amount of $3,991 was included in interest expense during the fourth quarter.
(c)
First and second quarter results include a mark-to-market adjustment related to the conversion option associated with the convertible debt in the amount of $11,340 and $4,257, respectively. Amounts were included in interest expense during the respective quarters.