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Acquisitions (Tables)
6 Months Ended
Jun. 30, 2015
Acquisitions [Abstract]  
Business Acquisition, Pro Forma Information [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Six months ended

 

 

June 30,

 

June 30,

 

 

2015

 

2014

 

2015

 

2014

Net sales

$

171,419 

$

214,728 

$

325,399 

$

374,845 

Gross profit

 

37,089 

 

45,623 

 

72,214 

 

85,149 

Net income

 

5,362 

 

10,600 

 

9,693 

 

18,134 

Diluted earnings per share

 

 

 

 

 

 

 

 

As Reported

$

0.52 

$

0.67 

$

0.93 

$

1.02 

Pro forma

$

0.52 

$

1.03 

$

0.93 

$

1.76 

 

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

Allocation of Purchase Price

 

March 13,
2015 - IOS

 

January 13,
2015 - Tew

 

December 30,
2014 - Chemtec

 

October 29,
2014 - FWO

 

July 7,
2014 - Carr

Current assets

$

19,877 

$

12,125 

$

15,528 

$

131 

$

3,180 

Other assets

 

708 

 

 -

 

 -

 

 -

 

45 

Property, plant, and equipment

 

51,453 

 

2,398 

 

4,705 

 

 -

 

7,648 

Goodwill

 

70,676 

 

8,772 

 

22,302 

 

971 

 

1,936 

Other intangibles

 

50,354 

 

14,048 

 

33,130 

 

419 

 

1,348 

Liabilities assumed

 

(24,364)

 

(6,465)

 

(6,756)

 

(418)

 

(1,677)

Total

$

168,704 

$

30,878 

$

68,909 

$

1,103 

$

12,480 

 

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intangible Asset

 

March 13,
2015 - IOS

 

January 13,
2015 - Tew

 

December 30,
2014 - Chemtec

 

October 29,
2014 - FWO

 

July 7,
2014 - Carr

 

 

 

 

 

 

 

 

 

 

 

Trade name

$

2,641 

$

870 

$

3,149 

$

 -

$

613 

Customer relationships

 

41,171 

 

10,035 

 

23,934 

 

34 

 

524 

Technology

 

4,364 

 

2,480 

 

4,930 

 

341 

 

87 

Non-competition agreements

 

2,178 

 

663 

 

1,117 

 

44 

 

124 

Total identified intangible assets

$

50,354 

$

14,048 

$

33,130 

$

419 

$

1,348