Guarantor and Non-guarantor Financial Statements (Tables)

3 Months Ended

Mar. 31, 2013

Guarantor and Non-guarantor Financial Statements [Abstract]

CONDENSED CONSOLIDATED BALANCE SHEETS

CONDENSED CONSOLIDATED BALANCE SHEET

	March 31, 2013
(in thousands)	Parent		Guarantor Subsidiaries			Non-guarantor Subsidiaries		Eliminations			Total
ASSETS
Cash and cash equivalents	$	29,412	$	(202	)	$	2,308		—		$	31,518
Accounts and other receivables, net		43,975		38,935			4,304	$	4,464			91,678
Inventories		18,574		35,582			3,624		(327	)		57,453
Other current assets		2,500		7,256			5,451		—			15,207
Total current assets		94,461		81,571			15,687		4,137			195,856
Property, plant, and equipment, net		77,205		134,474			36,892		—			248,571
Goodwill		96,283		4.414			—		—			100,697
Intangible assets, net		129,115		2,792			—		—			131,907
Investments in and advances to subsidiaries and affiliates		96,439		—			—		(96,439	)		-
Deferred income taxes		5,052		35,153			4,015		(39,168	)		5,052
Other non-current assets		7,128		448			—		—			7,576
TOTAL	$	505,683	$	258,852		$	56,594	$	(131,470	)	$	689,659
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	$	14,140	$	45,437		$	11,868		—		$	71,445
Accrued payroll and compensation		1,338		7,803			1,860		—			11,001
Accrued interest payable		5,204		—			—		—			5,204
Accrued and other liabilities		50		15,191			2,972	$	4,137			22,350
Total current liabilities		20,732		68,431			16,700		4,137			110,000
Long term debt		349,395		—			—		—			349,395
Deferred and non-current income taxes		67,086		—			—		(39,168	)		27,918
Other non-current liabilities		18,622		105,633			28,243		—			152,498
Stockholders' equity		49,848		84,788			11,651		(96,439	)		49,848
TOTAL	$	505,683	$	258,852		$	56,594	$	(131,470	)	$	689,659

	December 31, 2012
(in thousands)	Parent			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Total
ASSETS
Cash and cash equivalents	$	24,113		$	(109	)	$	2,747			—		$	26,751
Accounts and other receivables, net		62,719			29,285			3,219		$	(30,627	)		64,596
Inventories		19,563			39,443			2,766			(580	)		61,192
Other current assets		(1,348	)		10,737			786			—			10,175
Total current assets		105,047			79,356			9,518			(31,207	)		162,714
Property, plant, and equipment, net		93,990			135,215			38,172			—			267,377
Goodwill		96,283			4,414			—			—			100,697
Intangible assets, net		131,347			2,833			—			—			134,180
Investments in and advances to subsidiaries and affiliates		95,958			—			—			(95,958	)		—
Deferred income taxes		48,071			(12,042	)		(1,894	)		(6,903	)		27,232
Other non-current assets		(2,694	)		20,261			2,184			—			12,848
TOTAL	$	519,931		$	242,079		$	49,874		$	(134,068	)	$	677,816
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	$	14,838		$	36,702		$	7,641			—		$	59,181
Accrued payroll and compensation		1,241			7,488			1,997			—			10,726
Accrued interest payable		12,543			—			—			—			12,543
Accrued and other liabilities		35,756			16,479			3,283		$	(32,207	)		24,311
Total current liabilities		64,378			60,669			12,921			(31,207	)		106,761
Long term debt		324,133			—			—			—			324,133
Deferred and non-current income taxes		48,071			(12,042	)		(1,894	)		(6,093	)		27,232
Other non-current liabilities		18,476			106,671			29,670			—			154,817
Stockholders' equity		64,873			86,781			9,177			(95,958	)		64,873
TOTAL	$	519,931		$	242,079		$	49,874		$	(134,068	)	$	677,816

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

	Three Months Ended March 31, 2013
(in thousands)	Parent			Guarantor Subsidiaries			Non-guarantor Subsidiaries		Eliminations			Total
Net sales	$	105,159		$	103,672		$	35,851	$	(52,222	)	$	192,460
Cost of goods sold		101,125			105,143			33,328		(52,222	)		187,374
Gross profit		4,034			(1,471	)		2,523		—			5,086
Operating expenses		10,524			470			81		—			11,075
Income (loss) from operations		(6,490	)		(1,941	)		2,442		—			(5,989	)
Other income (expense):
Interest expense, net		(8,848	)		(64	)		218		—			(8,694	)
Equity in earnings of subsidiaries		150			—			—		(150	)
Other income (expense), net		(73	)		12			206		—			145
Income (loss) before income taxes from continuing operations		(15,261	)		(1,993	)		2,866		(150	)		(14,538	)
Income tax  provision		686						723		—			1,409
Net Income (loss)	$	(15,947	)	$	(1,993	)	$	2,143	$	(150	)	$	(15,947	)
Comprehensive income (loss)	$	(15,616	)	$	(1,993	)	$	2,474	$	(481	)	$	(15,616	)

	Three Months Ended March 31, 2012
(in thousands)	Parent			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Total
Net sales	$	122,576		$	155,792		$	37,454		$	(46,304	)	$	269,518
Cost of goods sold		102,934			155,041			35,747			(46,304	)		247,418
Gross profit		19,642			751			1,707			—			22,100
Operating expenses		13,672			1,120			72			—			14,864
Income (loss) from operations		5,970			(369	)		1,635			—			7,236
Other income (expense):
Interest expense, net		(8,579	)		(75	)		(91	)		—			(8,745	)
Equity in earnings of subsidiaries		241			—			—			(241	)		—
Other income (expense), net		780			—			(623	)		—			157
Income (loss) before income taxes from continuing operations		(1,588	)		(444	)		921			(241	)		(1,352	)
Income tax  provision (benefit)		1,361			—			236			—			1,597
Income (loss) from continuing operations		(2,949	)		(444	)		685			(241	)		(2,949	)
Discontinued operations, net of tax		—			—			—			—
Net income (loss)	$	(2,949	)	$	(444	)	$	685		$	(241	)	$	(2,949	)
Comprehensive income (loss)	$	(3,167	)	$	(444	)	$	467		$	(23	)	$	(3,167	)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	Three Months Ended March 31, 2013
in thousands)	Parent Company			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Total
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	(15,947	)	$	(1,993	)	$	2,143		$	(150	)	$	(15,947	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation		2,761			4,996			1,401			—			9,158
Amortization – deferred financing costs		690			—			—			—			690
Amortization – other intangible assets		2,232			41			—			—			2,273
(Gain) loss on disposal of assets		862			8			(13	)		—			857
Deferred income taxes		686			—			—			—			686
Non-cash stock-based compensation		694			—			—			—			694
Equity in earnings of subsidiaries and affiliates		(150	)		—			—			150			—
Change in other operating items		(21,468	)		6,779			(3,544	)		—			(18,233	)
Net cash provided by (used in) operating activities		(29,640	)		9,831			(13	)		—			(19,822	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant, and equipment		(5,005	)		(9,924	)		(426	)		—			(15,355	)
Other		14,944			—			—			—			14,944
Net cash provided by (used in) investing activities		9,939			(9,924	)		(426	)		—			(411	)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from debt issuance		25,000			—			—			—			25,000
Increase (decrease) in cash and cash equivalents		5,299			(93	)		(439	)		—			4,767
Cash and cash equivalents, beginning of period		24,113			(109	)		2,747			—			26,751
Cash and cash equivalents, end of period	$	29,412		$	(202	)	$	2,308		$	—		$	31,518

	Three Months Ended March 31, 2012
in thousands)	Parent Company			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Total
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	(2,949	)	$	(444	)	$	685		$	(241	)	$	(2,949	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation		2,304			5,779			1,751			—			9,834
Amortization – deferred financing costs		689			—			—			—			689
Amortization – other intangible assets		2,105			591			—			—			2,696
(Gain) loss on disposal of assets		(2,118	)		2,161			33			—			76
Deferred income taxes		1,322			—			—			—			1,322
Non-cash stock-based compensation		748			—			—			—			748
Equity in earnings of subsidiaries and affiliates		(241	)		—			—			241			—
Change in other operating items		(15,695	)		(5,903	)		(1,661	)		—			(23,259	)
Net cash provided by (used in) operating activities		(13,835	)		2,184			808	)		—			(10,843	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant, and equipment		(5,399	)		(4,387	)		(648	)		—			(10,434	)
Other		—			—			1,000			—			1,000
Net cash provided by (used in) investing activities		(5,399	)		(4,387	)		352			—			(9,434	)
Increase (decrease) in cash and cash equivalents		(19,234	)		(2,203	)		1,160			—			(20,277	)
Cash and cash equivalents, beginning of period		51,578			(2,770	)		8,107			—			56,915
Cash and cash equivalents, end of period	$	32,344		$	(4,973	)	$	9,267		$	—		$	36,638