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Quarterly Financial Information (Unaudited)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information (Unaudited) [Abstract]  
Quarterly Financial Information (Unaudited)

Note 21.



Quarterly Financial Information (Unaudited)



As more fully described in Note 3, “Acquisitions,” the Company acquired Tew, Tew Plus, and IOS during 2015. The results of the subsidiary’s operations are included from the acquisition dates. 



Quarterly financial information for the years ended December 31, 2016 and 2015 is presented below:





 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



 

2016



 

First

 

Second

 

Third

 

Fourth



 

Quarter

 

Quarter (1)

 

Quarter (2)

 

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 

$

 -



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



(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.







 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



 

2015



 

First

 

Second

 

Third

 

Fourth



 

Quarter

 

Quarter

 

Quarter (1)

 

Quarter (2)



 

 



 

 

 

 

 

 

 

 

Net sales

$

 137,907 

$

 171,419 

$

 176,059 

$

 139,138 

Gross profit

$

 30,653 

$

 37,089 

$

 36,038 

$

 29,872 

Net income (loss)

$

 4,285 

$

 5,362 

$

 (57,422)

$

 3,328 

Basic earnings (loss) per common share

$

 0.42 

$

 0.52 

$

 (5.60)

$

 0.33 

Diluted earnings (loss) per common share

$

 0.41 

$

 0.52 

$

 (5.60)

$

 0.32 

Dividends paid per common share

$

 0.04 

$

 0.04 

$

 0.04 

$

 0.04 



(1) - Third quarter 2015 includes $80,337 impairment of goodwill related to the IOS and Chemtec reporting units.

(2) - Fourth quarter 2015 includes $2,279 pre-tax gain on sale of Tucson, AZ concrete tie facility.