Quarterly Financial Information (Unaudited)

Quarterly financial information for the years ended December 31, 2017 and 2016 is presented below:



	2017
	First Quarter			Second Quarter		Third Quarter		Fourth Quarter (1)
Net sales	$	118,702		$	144,860	$	131,492	$	141,323
Gross profit	$	21,252		$	27,736	$	26,365	$	27,899
Net (loss) income	$	(2,422	)	$	3,024	$	3,222	$	289
Basic (loss) earnings per common share	$	(0.23	)	$	0.29	$	0.31	$	0.03
Diluted (loss) earnings per common share	$	(0.23	)	$	0.29	$	0.31	$	0.03
Dividends paid per common share	$	—		$	—	$	—	$	—

Differences between the sum of quarterly results and the annual amounts in the Consolidated Statements of Operations are due to rounding.


(1)	- Fourth quarter 2017 includes provisional tax amounts related to the enactment of the U.S. Tax Cuts and Jobs Act, including additional tax expense of $3,298 related to the one-time transition tax and a $1,508 tax benefit related to the remeasurement of certain deferred tax assets and liabilities.



	2016
	First Quarter			Second Quarter (1)			Third Quarter (2)			Fourth Quarter (3)
Net sales	$	126,310		$	135,994		$	114,644		$	106,566
Gross profit	$	23,960		$	27,813		$	19,803		$	18,779
Net loss	$	(2,832	)	$	(91,996	)	$	(5,982	)	$	(40,851	)
Basic loss per common share	$	(0.28	)	$	(8.96	)	$	(0.58	)	$	(3.97	)
Diluted loss per common share	$	(0.28	)	$	(8.96	)	$	(0.58	)	$	(3.97	)
Dividends paid per common share	$	0.04		$	0.04		$	0.04		$	—


(1)	- Second quarter 2016 includes $128,938 impairment of assets related to the Chemtec, Protective Coatings, IOS, and Rail Technologies product groups.


(2)	- Third quarter 2016 includes $6,946 related to the finalization of the impairment analysis of the Chemtec and Rail Technologies product groups.


(3)	- Fourth quarter 2016 includes deferred U.S. income taxes and foreign withholding taxes of $7,932 on unremitted foreign earnings and a valuation allowance of $29,719 against deferred tax assets.