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Acquisition (Tables)
3 Months Ended
Mar. 31, 2014
Business Combinations [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table summarizes the fair values of identifiable assets acquired and liabilities assumed at the date of the acquisition:
 
In thousands
 
 
 
 
Cash
 
$
7,493
 
Accounts Receivable
 
 
26,779
 
Inventory
 
 
25,046
 
Other current assets
 
 
2,894
 
Property, plant and equipment
 
 
38,780
 
Deferred Taxes
 
 
2,501
 
Intangible assets (Note 4)
 
 
5,596
 
Goodwill (Note 4)
 
 
3,693
 
Total assets acquired
 
 
112,782
 
 
 
 
 
 
Other liabilities
 
 
(18,002)
 
Deferred taxes
 
 
(8,130)
 
Total liabilities assumed
 
 
(26,132)
 
Net assets acquired
 
$
86,650
 
Business Acquisition, Pro Forma Information
The pro forma information does not include the effects of any synergies related to the acquisition.
 
 
 
(Unaudited Pro Forma)
 
 
 
Quarter Ended March 31,
 
In thousands
 
2014
 
2013
 
Net Sales
 
$
142,742
 
$
129,716
 
Net Income
 
$
7,476
 
$
2,601
 
 
 
 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
 
 
Basic
 
$
0.45
 
$
0.16
 
Diluted
 
$
0.44
 
$
0.15