Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

Quarterly Results of Operations (Unaudited)

The unaudited quarterly results of operations for the years ended December 31, 2016 and 2015 are as follows:

	2016 Quarters								2015 Quarters
	First		Second		Third		Fourth		First		Second		Third		Fourth
	(In thousands, except per share amounts)
Net sales	$	502,572	$	549,696	$	530,356	$	530,419	$	502,198	$	514,881	$	503,791	$	499,798
Gross profit	223,335		244,058		230,889		232,485		226,041		231,615		223,260		223,399
Operating income	102,557		112,976		108,857		81,411		101,757		109,909		121,813		98,259
Net income	68,130		75,759		69,873		57,347		65,954		69,585		79,505		67,763
Basic EPS	$	0.90	$	1.00	$	0.92	$	0.75	$	0.84	$	0.89	$	1.03	$	0.89
Diluted EPS	$	0.89	$	0.99	$	0.91	$	0.75	$	0.84	$	0.89	$	1.02	$	0.88
Basic weighted average shares outstanding	75,749		75,690		75,819		75,955		77,996		77,466		76,831		76,211
Diluted weighted average shares outstanding	76,699		76,674		76,880		76,806		78,856		78,297		77,646		77,091
(1) Quarterly data includes acquisition of Novotema (June 2015), Alfa Valvole (June 2015), CiDRA Precision Services (July 2015), Akron Brass (March 2016), AWG Fittings (July 2016) and SFC Koenig (September 2016) from the date of acquisition. Quarterly data also includes the results of Ismatec (July 2015), Hydra-Stop (July 2016), CVI Japan (September 2016), IETG (October 2016) and CVI Korea (December 2016) through the date of disposition.