XML 37 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Income Statement [Abstract]    
Net sales $ 127,306us-gaap_SalesRevenueNet [1] $ 125,226us-gaap_SalesRevenueNet [2]
Cost of sales 99,606us-gaap_CostOfGoodsSold 99,027us-gaap_CostOfGoodsSold
Gross profit 27,700us-gaap_GrossProfit 26,199us-gaap_GrossProfit
Selling, product development and administrative expenses 17,622us-gaap_SellingGeneralAndAdministrativeExpense 18,573us-gaap_SellingGeneralAndAdministrativeExpense
Operating income 10,078us-gaap_OperatingIncomeLoss [1] 7,626us-gaap_OperatingIncomeLoss [2]
Gain on sale of business (18,647)us-gaap_GainLossOnSaleOfBusiness 0us-gaap_GainLossOnSaleOfBusiness
Interest expense 222us-gaap_InterestExpense 212us-gaap_InterestExpense
Other (income) expense, net (1,022)us-gaap_OtherNonoperatingIncomeExpense 55us-gaap_OtherNonoperatingIncomeExpense
Income before income taxes 29,525us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 7,359us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax expense 10,588us-gaap_IncomeTaxExpenseBenefit 3,643us-gaap_IncomeTaxExpenseBenefit
Net income $ 18,937us-gaap_NetIncomeLoss $ 3,716us-gaap_NetIncomeLoss
Earnings per share:    
Basic (usd per share) $ 1.12us-gaap_EarningsPerShareBasic $ 0.22us-gaap_EarningsPerShareBasic
Diluted (usd per share) $ 1.11us-gaap_EarningsPerShareDiluted $ 0.22us-gaap_EarningsPerShareDiluted
Weighted average number of common shares outstanding:    
Basic (in shares) 16,837us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 16,542us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted (in shares) 17,109us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 16,852us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
[1] Other Products and Services reports results for the period preceding the date of disposition of January 30, 2015.
[2] Industrial Filtration segment reports results for the period following the date of acquisition of February 20, 2014 through March 31, 2014.