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Consolidated Condensed Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 27, 2015
Jun. 28, 2014
Jun. 27, 2015
Jun. 28, 2014
NET SALES $ 109,957 $ 107,926 $ 205,812 $ 193,008
Cost of sales 80,651 81,255 153,167 148,236
GROSS PROFIT 29,306 26,671 52,645 44,772
Selling and administrative expenses 26,191 24,260 50,948 44,377
Other operating expense, net 63 219 553 371
Facility consolidation expenses 875 949 1,650 1,022
Impairment of assets 0 655 0 [1] 655
OPERATING INCOME (LOSS) 2,177 588 (506) (1,653)
Interest expense 1,222 1,158 2,400 2,169
Other (income) expense, net 31 (47) 41 (36)
Gain on purchase of business 0 0 0 (10,937)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES 924 (523) (2,947) 7,151
Income tax provision (benefit) 408 (14) (1,083) 2,840
INCOME (LOSS) FROM CONTINUING OPERATIONS 516 (509) (1,864) 4,311
Loss from discontinued operations, net of tax (12) (135) (100) (328)
NET INCOME (LOSS) $ 504 $ (644) $ (1,964) $ 3,983
BASIC EARNINGS (LOSS) PER SHARE:        
Continuing operations $ 0.03 $ (0.04) $ (0.12) $ 0.31
Discontinued operations 0.00 (0.01) (0.01) (0.02)
Net income (loss) $ 0.03 $ (0.05) $ (0.13) $ 0.29
BASIC SHARES OUTSTANDING [2] 15,546 13,937 15,490 13,363
DILUTED EARNINGS (LOSS) PER SHARE:        
Continuing operations $ 0.03 $ (0.04) $ (0.12) $ 0.30
Discontinued operations 0.00 (0.01) (0.01) (0.02)
Net income (loss) $ 0.03 $ (0.05) $ (0.13) $ 0.28
DILUTED SHARES OUTSTANDING [2],[3] 15,656 13,937 15,490 13,561
DIVIDENDS PER SHARE:        
Common Stock $ 0.00 $ 0.00 $ 0.00 $ 0.00
Class B Common Stock $ 0.00 $ 0.00 $ 0.00 $ 0.00
[1] Asset impairments under these plans, when applicable, are classified as "loss on impairments" in the Company's Consolidated Condensed Statements of Operations.
[2] Includes Common and Class B Common shares, in thousands.
[3] Because their effects are anti-dilutive, shares issuable under stock option plans where the exercise price is greater than the average market price of the Company's Common Stock during the relevant period and directors' stock performance units have been excluded. Aggregate shares excluded for the three and six months ended June 27, 2015 were 236 and 352, respectively, and for the three and six months ending June 28, 2014 were 620 and 372, respectively.