Acquisition and Divestiture (Tables)

9 Months Ended

Sep. 30, 2016

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 and cash equivalents	$	1,610
Accounts receivable	13,355
Inventories	17,525
Prepaid expenses and other current assets	2,469
Non-current environmental indemnification receivable (Note 12)	925
Property, plant and equipment, net	31,603
Investment in joint venture	616
Goodwill (Note 4)	28,281
Other intangible assets, net (Note 4)	22,887
Total assets acquired	$	119,271

Current liabilities	$	(8,520	)
Long-term environmental remediation liability (Note 12)	(925		)
Deferred tax liabilities	(7,117		)
Total liabilities assumed	(16,562		)
Net assets acquired	$	102,709

Unaudited Pro Forma Operating Results

The following table reflects the unaudited pro forma operating results of the Company for the three and nine months ended September 30, 2016 and the three and nine months ended September 30, 2015, which give effect to the acquisition of Texel as if it had occurred on January 1, 2015. The pro forma information includes the historical financial results of the Company and Texel. The pro forma results are not necessarily indicative of the operating results that would have occurred had the acquisition been effective January 1, 2015, nor are they intended to be indicative of results that may occur in the future. The pro forma information does not include the effects of any synergies related to the acquisition.



	(Unaudited Pro Forma)				(Unaudited Pro Forma)
	Quarter Ended September 30,				Nine Months Ended September 30,
In thousands	2016		2015		2016		2015
Net sales	$	157,528	$	153,180	$	462,068	$	447,102
Net income	$	14,679	$	12,630	$	36,497	$	41,319

Earnings per share:
Basic	$	0.87	$	0.76	$	2.16	$	2.47
Diluted	$	0.86	$	0.74	$	2.14	$	2.42