XML 35 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Income Statement [Abstract]        
Net sales $ 134,227 $ 97,995 $ 408,246 $ 298,075
Cost of sales 105,663 77,501 318,830 233,179
Gross profit 28,564 20,494 89,416 64,896
Selling, product development and administrative expenses 22,785 13,108 63,438 41,472
Operating income 5,779 [1] 7,386 [1] 25,978 [1] 23,424 [1]
Interest expense 327 77 819 231
Other (income) expense, net (508) (16) (154) 44
Income before income taxes 5,960 7,325 25,313 23,149
Income tax expense 1,802 2,750 9,199 8,127
Net income $ 4,158 $ 4,575 $ 16,114 $ 15,022
Earnings per share:        
Basic (usd per share) $ 0.25 $ 0.28 $ 0.97 $ 0.90
Diluted (usd per share) $ 0.24 $ 0.27 $ 0.95 $ 0.89
Weighted average number of common shares outstanding:        
Basic (in shares) 16,684 16,437 16,615 16,599
Diluted (in shares) 17,043 16,735 16,967 16,888
[1] Industrial Filtration segment reports results for the period following the date of acquisition of February 20, 2014 through September 30, 2014.