Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information (Unaudited) [Abstract]

Quarterly Financial Information (Unaudited)

Note 21.

Quarterly Financial Information (Unaudited)

As more fully described in Note 3 of the Notes to the Consolidated Financial Statements, “Acquisitions” the Company acquired Ball Winch, LLC on November 7, 2013 and the results of this subsidiary’s operations are included from the acquisition date through December 31, 2013. 

As more fully described in Note 4 of the Notes to the Consolidated Financial Statements, “Discontinued Operations,” the Company sold its SSD and Precise businesses in June 2012 and August 2012, respectively.  The operations of these divisions qualified as a “component of an entity” under FASB ASC 205-20 and thus, the operations are classified as discontinued.

Quarterly financial information for the years ended December 31, 2013 and 2012 is presented below:

		2013
		First		Second		Third		Fourth
		Quarter		Quarter		Quarter		Quarter		Total
Net sales	$	129,321	$	149,936	$	162,248	$	156,458	$	597,963
Gross profit	$	24,848	$	29,175	$	31,305	$	30,611	$	115,939
Income from continuing operations	$	4,951	$	7,257	$	9,793	$	7,275	$	29,276
(Loss) income from discontinued operations	$	(24)	$	38	$	-	$	-	$	14
Net income	$	4,927	$	7,295	$	9,793	$	7,275	$	29,290
Basic earnings per common share:
From continuing operations	$	0.49	$	0.71	$	0.96	$	0.71	$	2.88
From discontinued operations	$	(0.00)	$	0.00	$	-	$	-	$	(0.00)
Basic earnings per common share	$	0.49	$	0.72	$	0.96	$	0.71	$	2.88
Diluted earnings per common share:
From continuing operations	$	0.48	$	0.71	$	0.95	$	0.71	$	2.85
From discontinued operations	$	(0.00)	$	0.00	$	-	$	-	$	0.00
Diluted earnings per common share	$	0.48	$	0.71	$	0.95	$	0.71	$	2.85
Dividends paid per common share	$	0.03	$	0.03	$	0.03	$	0.03	$	0.12

		2012
		First		Second		Third		Fourth
		Quarter		Quarter (1)		Quarter (2)		Quarter		Total
Net sales	$	114,291	$	163,180	$	170,346	$	140,724	$	588,541
Gross profit	$	21,652	$	12,334	$	30,713	$	27,570	$	92,269
Income from continuing operations	$	2,979	$	(3,321)	$	8,463	$	6,643	$	14,764
Income from discontinued operations	$	390	$	1,250	$	(238)	$	22	$	1,424
Net income	$	3,369	$	(2,071)	$	8,225	$	6,665	$	16,188
Basic earnings per common share:
From continuing operations	$	0.30	$	(0.33)	$	0.83	$	0.65	$	1.46
From discontinued operations	$	0.04	$	0.12	$	(0.02)	$	0.00	$	0.14
Basic earnings per common share	$	0.33	$	(0.20)	$	0.81	$	0.66	$	1.60
Diluted earnings per common share:
From continuing operations	$	0.29	$	(0.33)	$	0.83	$	0.65	$	1.44
From discontinued operations	$	0.04	$	0.12	$	(0.02)	$	-	$	0.14
Diluted earnings per common share	$	0.32	$	(0.20)	$	0.81	$	0.65	$	1.58
Dividends paid per common share	$	0.025	$	0.025	$	0.025	$	0.025	$	0.10

(1) Includes a pre-tax gain of approximately $3,508 from the Company’s sale of SSD.

(2) Includes a pre-tax loss of approximately $315 from the Company’s sale of Precise.