Quarterly financial data

12 Months Ended

Dec. 31, 2012

Note 12 – Quarterly financial data (unaudited):


	1^st Quarter		2^nd Quarter		3^rd Quarter		4^th Quarter
	(In thousands, except per share data)

Year ended December 31, 2011:
Net sales	$	134,163	$	155,955	$	140,973	$	132,894
Gross profit		13,429		16,220		11,273		3,048

Net income	$	7,963	$	9,719	$	6,916	$	5,613


Basic and diluted net income per share	$	0.66	$	0.80	$	0.57	$	0.46


Year ended December 31, 2012:
Net sales	$	153,293	$	152,747	$	133,072	$	108,545
Gross profit		16,073		16,570		10,092		2,143

Net income	$	7,265	$	7,321	$	4,981	$	657


Basic and diluted net income per share	$	0.60	$	0.60	$	0.41	$	0.05

At the end of each year, we measure pension and other postretirement plan assets and obligations which could result in a significant fourth quarter adjustment to pension and OPEB expense or credits. During the fourth quarter of 2011 we recorded a $5.4 million higher pension credit ($3.3 million, net of tax, a $0.27 increase in earnings per share) as compared to the quarterly credits recorded throughout the year.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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