The following table presents our quarterly results of operations for the years ended December 31, 2011 and 2010:


	First		Second		Third		Fourth
	(Dollars in thousands, except per share data)
2011 ⁽¹⁾
Net sales	$	703,087	$	822,224	$	1,148,008	$	835,908
Gross profit		101,962		116,893		182,954		116,781
Net income		26,112		51,206		78,756		37,099

Basic net income per share ⁽³⁾	$	0.37	$	0.73	$	1.13	$	0.53
Diluted net income per share ⁽³⁾		0.37		0.73		1.12		0.53

Dividends per share	$	0.11	$	0.11	$	0.11	$	0.11

2010 ⁽²⁾
Net sales	$	664,037	$	693,849	$	1,002,056	$	711,603
Gross profit		103,304		108,596		162,405		98,124
Net income		26,782		36,254		65,231		16,379

Basic net income per share ⁽³⁾	$	0.35	$	0.47	$	0.85	$	0.22
Diluted net income per share ⁽³⁾		0.35		0.47		0.84		0.22

Dividends per share	$	0.105	$	0.105	$	0.105	$	0.105

⁽¹⁾

The first, second, third and fourth quarters of 2011 include rationalization charges of $1.7 million, $2.4 million, $0.6 million and $2.9 million, respectively. The first quarter of 2011 includes costs attributable to announced acquisitions of $1.8 million. The second quarter of 2011 includes income of $27.0 million for proceeds received as a result of the termination of the merger agreement with Graham Packaging, net of costs associated with certain corporate development activities, and a charge for the resolution of a past product liability dispute of $3.3 million. The third quarter of 2011 includes a loss on early extinguishment of debt of $1.0 million.

⁽²⁾

The first, second, third and fourth quarters of 2010 include rationalization charges of $2.0 million, $0.7 million, $1.0 million and $18.5 million, respectively. The third and fourth quarters of 2010 include losses on early extinguishment of debt of $4.5 million and $3.0 million, respectively. The first quarter of 2010 includes a charge of $3.2 million for the remeasurement of net assets in the Venezuela operations. The third and fourth quarters of 2010 include costs attributable to announced acquisitions of $0.5 million and $2.2 million, respectively.

⁽³⁾	Net income per share data is computed independently for each of the periods presented. Accordingly, the sum of the quarterly earnings per share amounts may not equal the total for the year.