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Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information (Unaudited)
NOTE 16:
QUARTERLY FINANCIAL DATA (UNAUDITED)

 
Year Ended December 31, 2014(a) (b) (c)
 
Fourth
Quarter
 
Third
Quarter
 
Second
Quarter
 
First
Quarter
Sales
$
83,901

 
$
83,966

 
$
85,903

 
$
84,582

Less: excise tax
7,576

 
6,451

 
5,336

 
5,586

Net sales
76,325

 
77,515

 
80,567

 
78,996

Cost of sales
70,314

 
70,204

 
72,259

 
72,195

    Gross profit
6,011

 
7,311

 
8,308

 
6,801

 
 
 
 
 
 
 
 
Selling, general and administrative
4,897

 
4,966

 
5,166

 
5,072

Insurance recoveries (Note 17)
(7,067
)
 
(1,293
)
 
70

 
—

Other operating costs and loss on sale of assets, net
—

 
1

 
—

 
—

    Operating income
8,181

 
3,637

 
3,072

 
1,729

 
 
 
 
 
 
 
 
Interest expense
(201
)
 
(199
)
 
(218
)
 
(198
)
Equity in earnings (Note 3)
2,850

 
1,621

 
2,331

 
3,335

Income from continuing operations before income taxes
10,830

 
5,059

 
5,185

 
4,866

 
 
 
 
 
 
 
 
Provision (benefit) for income taxes (Note 5)
3,267

 
(1,169
)
 
86

 
81

Net income from continuing operations
7,563

 
6,228

 
5,099

 
4,785

 
 
 
 
 
 
 
 
Discontinued Operations, net of tax (Note 11)
—

 
—

 
—

 
—

    Net income
$
7,563

 
$
6,228

 
$
5,099

 
$
4,785

 
 
 
 
 
 
 
 
Basic and diluted earnings per share data
 
 
 

 
 

 
 

 Income from continuing operations
$
0.42

 
$
0.34

 
$
0.28

 
$
0.26

 Income from discontinued operations
—

 
—

 
—

 
—

Net income
$
0.42

 
$
0.34

 
$
0.28

 
$
0.26

 
 
 
 
 
 
 
 
Dividends per Common Share
$
—

 
$
—

 
$
—

 
$
0.05


(a) 
Net income was positively/(negatively) impacted during the second, third and fourth quarters of the year ended December 31, 2014 by $(120), $1,940, and $6,778, respectively as result of insurance recoveries. Certain immaterial amounts related to the accounting for insurance recoveries recorded during the second quarter were reclassified during the third quarter. The results above for the second quarter reflect these immaterial reclassifications. See discussion on this matter at Note 17: Property and Business Interruption Insurance Claims and Recoveries.
(b) 
Net income was positively impacted during the third and fourth quarters of the year ended December 31, 2014 by $1,215, and $104, respectively, as result of a release of the valuation allowance related to deferred tax assets. See discussion on this matter at Note 5: Income Taxes.
(c) 
Total basic and diluted earnings per share for the quarters, when aggregated, do not equal the annual amounts of $1.32 and $1.32, respectively, due to rounding.





Year Ended December 31, 2013(a) (b) (c) (d)
 
Fourth
Quarter
 
Third
Quarter
 
Second
Quarter
 
First
Quarter
Sales
$
80,936

 
$
80,709

 
$
83,707

 
$
88,718

Less: excise taxes
3,642

 
538

 
4,312

 
2,314

Net sales
77,294

 
80,171

 
79,395

 
86,404

Cost of sales
69,380

 
79,356

 
74,114

 
79,175

Gross profit
7,914

 
815

 
5,281

 
7,229




 


 


 


Selling, general and administrative expenses
8,797

 
6,760

 
4,770

 
5,875

Other operating costs and (gains) losses on sale of assets
177

 
1

 
—

 
58

Operating income (loss)
(1,060
)
 
(5,946
)
 
511

 
1,296




 


 


 


Interest income (expense), net
(289
)
 
(269
)
 
(277
)
 
(283
)
Equity in earnings (loss) (Note 3)
758

 
(91
)
 
71

 
(942
)
Income (loss) from continuing operations before income taxes
(591
)

(6,306
)

305


71




 


 


 


Provision (benefit) for income taxes (Note 5)
(758
)
 
19

 
25

 
—

Net income (loss) from continuing operations
167

 
(6,325
)
 
280

 
71




 


 


 


Discontinued operations, net of tax (Note 11)
(528
)
 
—

 
—

 
1,406

        Net income (loss)
$
(361
)
 
$
(6,325
)
 
$
280

 
$
1,477




 





 


Basic and diluted earnings (loss) per share(e)








 


Income (loss) from continuing operations
$
0.01

 
$
(0.37
)
 
$
0.02

 
$
—

Income from discontinued operations
(0.03
)
 
—

 
—

 
0.08

Net income (loss)
$
(0.02
)

$
(0.37
)

$
0.02

 
$
0.08










 


Dividends per common share
$
—

 
$
—

 
$
—

 
$
0.05


(a) 
Net loss for the fourth quarter includes $528 of income tax expense related to the gain on sale of discontinued operations.
(b) 
Net income for the first quarter includes a $1,406 gain, net of tax, on sale of discontinued operations. See discussion on this matter at Note 11: Operating Segments.
(c) 
Net income (loss) for the second, third and fourth quarters include $259, $1,802, and $3,404, respectively of expense related to the governance, proxy dispute and related matters. See discussion on this matter at Note 14: Related Party Transactions.
(d) 
Net income (loss) for the fourth quarter includes $1,525 of expense related to the severance costs. See discussion on this matter at Note 9: Restructuring and Severance Costs.
(e) 
For the third and fourth quarters, under the two class method, the losses were fully allocated common stock.