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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Income Statement [Abstract]        
Net sales $ 131,240 $ 134,227 $ 393,107 [1] $ 408,246 [2]
Cost of sales 99,549 105,663 299,827 318,830
Gross profit 31,691 28,564 93,280 89,416
Selling, product development and administrative expenses 16,850 22,785 51,332 63,438
Operating income 14,841 5,779 41,948 [1] 25,978 [2]
Gain on sale of business     (18,647) 0
Interest expense 187 327 595 819
Other income, net (150) (508) (619) (154)
Income before income taxes 14,804 5,960 60,619 25,313
Income tax expense 3,618 1,802 19,679 9,199
Net income $ 11,186 $ 4,158 $ 40,940 $ 16,114
Earnings per share:        
Basic (usd per share) $ 0.67 $ 0.25 $ 2.45 $ 0.97
Diluted (usd per share) $ 0.66 $ 0.24 $ 2.40 $ 0.95
Weighted average number of common shares outstanding:        
Basic (in shares) 16,715 16,684 16,744 16,615
Diluted (in shares) 17,028 17,043 17,085 16,967
[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 September 30, 2014.