Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

NOTE 15: QUARTERLY FINANCIAL DATA (UNAUDITED)

	Year Ended December 31, 2018
	Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Net sales	$	104,850		$	95,031		$	88,252		$	87,956
Cost of sales	79,242			75,432			68,811			69,005
Gross profit	25,608			19,599			19,441			18,951
SG&A expenses	8,996			7,584			8,309			8,562
Operating income	16,612			12,015			11,132			10,389
Interest expense, net	(338		)	(334		)	(289		)	(207		)
Income before income taxes	16,274			11,681			10,843			10,182
Income tax expense (Note 6)	4,452			2,673			3,316			1,255
Net income	$	11,822		$	9,008		$	7,527		$	8,927
Basic and diluted EPS data	$	0.69		$	0.52		$	0.44		$	0.52
Dividends and dividend equivalents per common share and per unit	$	0.08		$	0.08		$	0.08		$	0.08

	Year Ended December 31, 2017
	Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Net sales	$	88,193		$	86,333		$	85,753		$	87,169
Cost of sales	68,668			67,708			66,928			68,128
Gross profit	19,525			18,625			18,825			19,041
SG&A expenses	8,993			8,154			8,311			7,649
Operating income	10,532			10,471			10,514			11,392
Gain on sale of equity method investment (Note 4)(a)	—			11,381			—			—
Equity method investment earnings (loss) (Note 4)	—			—			(819		)	471
Interest expense, net	(250		)	(224		)	(379		)	(331		)
Income before income taxes	10,282			21,628			9,316			11,532
Income tax expense (benefit) (Note 6)(b)	(2,357		)	7,491			2,947			2,854
Net income	$	12,639		$	14,137		$	6,369		$	8,678
Basic and diluted EPS data(c)	$	0.74		$	0.82		$	0.37		$	0.50
Dividends and dividend equivalents per common share and per unit	$	0.04		$	0.89		$	0.04		$	0.04

^(a)  Net income was positively impacted during the third quarter of 2017 by a gain on sale of equity method investment of $11,381 related to the sale of the Company's equity ownership interest in ICP to Pacific Ethanol on July 3, 2017 (Note 4).

^(b)  Net income was positively impacted during the fourth quarter of 2017 by a provisional income tax benefit of $3,343 related to the Tax Act enacted on December 22, 2017 (Note 6).

^(c)  Quarterly EPS amounts may not add to amounts for the year because quarterly and annual EPS calculations are performed separately.