Acquisitions Acquisition Purchase Price Allocation (Tables)

12 Months Ended

Dec. 31, 2012

Business Combinations [Abstract]

Schedule of Purchase Price Allocation [Table Text Block]

The allocation of the purchase price and the estimated goodwill, which is not deductible for income tax purposes, and other intangibles are as follows:

(dollars in thousands)	Novel		Jamco (Preliminary)
Assets acquired:
Cash	$	630	$	88
Accounts receivable	5,467		1,690
Inventory	5,993		3,282
Property, plant & equipment	13,636		2,559
Intangibles	5,790		5,680
Deferred tax assets	435		28
Prepaid assets	1,451		48
Other	719		2
Assets acquired	33,491		13,289
Liabilities assumed:
Accounts payable and accruals	$	3,134	$	1,436
Other taxes	3,608		676
Other long-term obligations	2,293		454
Debt	26,028		—
Deferred income taxes	3,804		3,044
Liabilities assumed	38,867		5,610
Goodwill	8,805		7,435
Total consideration, less cash acquired	$	3,429	$	15,114

Pro forma information

The following unaudited pro forma information presents a summary of consolidated results of operations for the Company including Novel and Jamco as if the acquisitions had occurred on January 1, 2011.

(Amounts in thousands, except per share data)	2012		2011
Net sales	$	820,649	$	807,244
Cost of sales	596,178		593,870
Gross profit	224,471		213,374
Selling, general & administrative expenses	168,794		169,433
Operating income	55,677		43,941
Interest expense, net	7,333		7,931
Income before taxes	48,344		36,010
Income taxes	17,784		9,508
Net income	$	30,560	$	26,502
Income per basic share	$	0.91	$	0.77
Income per diluted share	$	0.90	$	0.76