Stockholders' Equity

9 Months Ended

Sep. 30, 2012

Stockholders' Equity [Abstract]

Stockholders' Equity

(10) Stockholders’ Equity

Shareholder Rights Plan

In August 2012, the Company’s Board of Directors adopted a Shareholder Rights Plan (the “Rights Plan”) and declared a dividend of one right for each outstanding share of the Company’s common stock outstanding at the close of business on September 11, 2012. Pursuant to the Rights Plan, the Company is issuing one preferred stock purchase right (a “Right”) for each share of common stock outstanding on September 11, 2012. Each Right, once exercisable, represents the right to purchase one one-hundredth of a share (a “Unit”) of Series B Junior Preferred Stock of the Company, without par value, for $54.00, subject to adjustment. The Rights become exercisable in the event any individual person or entity, without Board approval, acquires 10% or more of the Company’s common stock, subject to certain exceptions. In these circumstances, each holder of a Right (other than rights held by the acquirer) will be entitled to purchase, at the then-current exercise price of the Right, additional shares of the Company’s common stock having a value of twice the exercise price of the Right. Additionally, if the Company is involved in a merger or other business combination transaction with another person after which its common stock does not remain outstanding, each Right will entitle its holder to purchase, at the then-current exercise price of the Right, shares of common stock of the ultimate parent of such other person having a market value of twice the exercise price of the Right. The Rights may be redeemed by the Company for $0.001 per Right at any time until the tenth business day following the first public announcement of an acquisition of beneficial ownership of 10% of the Company’s common stock. The Rights Plan will expire on August 30, 2013.

Comprehensive (Loss) Income

Comprehensive (loss) income includes net (loss) income and all other non-owner changes to equity that are not reported in net (loss) income. The Company’s comprehensive (loss) income for the three months ended September 30, 2012 and 2011 is as follows:

	September 30,
	2012			2011
Net income	$	3,173		$	3,803
Foreign currency translation (loss) gain		3,060			(4,269	)
Pension cost amortization, net of tax		(110	)		81
Total comprehensive income (loss)	$	6,123		$	(385	)

The Company’s comprehensive income (loss) for the nine months ended September 30, 2012 and 2011 is as follows:

	September 30,
	2012			2011
Net (loss) income	$	(4,105	)	$	10,203
Foreign currency translation gain (loss)		3,019			(2,237	)
Pension cost amortization, net of tax		(329	)		246
Total comprehensive (loss) income	$	(1,415	)	$	8,212

The components of accumulated other comprehensive loss is as follows:

	September 30, 2012			December 31, 2011
Foreign currency translation losses	$	(1,672	)	$	(4,691	)
Unrecognized pension and postretirement benefit costs, net of tax		(15,462	)		(15,133	)
Total accumulated other comprehensive loss	$	(17,134	)	$	(19,824	)