Business Combinations

3 Months Ended

Jul. 03, 2011

Business Combinations [Abstract]

Business Combinations

Note 11 – Business Combinations

On January 14, 2011, we completed the acquisition of the assets of Vertex for $27.2 million, $25.5 million paid at closing and the remaining $1.7 million paid during the first quarter of fiscal 2012. We acquired substantially all of the assets used in Vertex’s business, which is primarily the manufacture and distribution of sodium hypochlorite and the distribution of caustic soda, hydrochloric acid and related products.

Vertex operating results are included in our Condensed Consolidated Statements of Income in our Industrial segment from the date of acquisition.

The following unaudited pro forma condensed consolidated financial results of operations are presented as if the Vertex acquisition had been completed at the beginning of the each period presented:

	Quarter Ended
	July 3,		June 30,
(In thousands, except share and per-share data)	2011		2010
Pro forma net sales	$	88,594	$	83,178
Pro forma net earnings		6,727		7,712
Pro forma earnings per share:
Basic	$	0.65	$	0.75
Diluted		0.65		0.75
Weighted average common shares outstanding:
Basic		10,307,177		10,253,458
Diluted		10,362,172		10,308,270

The results for the quarter ended July 3, 2011 shown in this table reflect actual condensed consolidated financial results for the period, while the results for the quarter ended June 30, 2010 reflect pro forma condensed consolidated financial results. These unaudited financial results have been prepared for illustrative purposes only and do not purport to be indicative of the results of operations that actually would have resulted had the acquisition occurred on the first day of each fiscal period presented, or of future results of the consolidated entities. The unaudited pro forma condensed consolidated financial information does not reflect any operating efficiencies and cost savings that may be realized from the integration of the acquisition.