Quarterly Financial Information (Unaudited)

12 Months Ended

Sep. 30, 2015

Quarterly Financial Information (Unaudited)

18.

Quarterly Financial Information (Unaudited)

	First		Second		Third		Fourth		Fiscal
(Dollars in thousands, except per share amounts)	Quarter		Quarter		Quarter		Quarter		Year

2015

Net sales	$	120,547		128,941		134,191		153,612		537,291
Net earnings from continuing operations		10,023		7,982		10,748		12,983		41,736
Net (loss) earnings from discontinued operations		—		(372)		1,148		—		776
Net earnings		10,023		7,610		11,896		12,983		42,512

Basic earnings (loss) per share:
Net earnings from continuing operations		0.38		0.31		0.41		0.50		1.60
Net (loss) earnings from discontinued operations		—		(0.01)		0.04		—		0.03
Net earnings		0.38		0.30		0.45		0.50		1.63

Diluted earnings (loss) per share:
Net earnings from continuing operations		0.38		0.30		0.41		0.50		1.59
Net (loss) earnings from discontinued operations		—		(0.01)		0.04		—		0.03
Net earnings		0.38		0.29		0.45		0.50		1.62

Dividends declared per common share	$	0.08		0.08		0.08		0.08		0.32

2014

Net sales	$	124,450		124,762		130,495		151,413		531,120
Net earnings from continuing operations		8,832		9,264		11,590		12,927		42,613
Net (loss) earnings from discontinued operations		2,357		(42,941)		—		(1,619)		(42,203)
Net (loss) earnings		11,189		(33,677)		11,590		11,308		410

Basic earnings (loss) per share:
Net earnings from continuing operations		0.33		0.35		0.44		0.49		1.61
Net (loss) earnings from discontinued operations		0.09		(1.62)		—		(0.06)		(1.59)
Net (loss) earnings		0.42		(1.27)		0.44		0.43		0.02

Diluted earnings (loss) per share:
Net earnings from continuing operations		0.33		0.35		0.43		0.49		1.60
Net (loss) earnings from discontinued operations		0.09		(1.61)		—		(0.06)		(1.58)
Net (loss) earnings		0.42		(1.26)		0.43		0.43		0.02

Dividends declared per common share	$	0.08		0.08		0.08		0.08		0.32

During the fourth quarter of 2015, the Company disclosed certain non-cash charges related to the Test segment. Of these pretax charges, $4.3 million related to inventory and cost of goods sold resulting from the incorrect capitalization of certain costs in periods prior to the fourth quarter of 2015 that resulted in inventory being overstated and cost of goods sold being understated. Management determined $1.2 million (pretax) related to the first quarter of 2015 and $1.0 million (pretax) related to the second quarter of 2015; therefore, the 2015 quarterly results above have been adjusted to reflect these amounts in the proper periods. The fourth quarter of 2015 includes the remaining $2.1 million (pretax) of charges relating to prior years. These charges were not considered material to the previously-issued financial statements for the prior years and prior quarters within 2015. See the table below for the impact of the adjustments on the previously reported first and second quarters of 2015:

	Q1 as Reported		Q1 as Adjusted		Q2 as Reported		Q2 as Adjusted
Cost of sales	$	70,420		71,621		80,140		81,142
Earnings before income taxes		14,776		13,575		13,791		12,789
Income tax expense		3,948		3,552		5,144		4,807
Net earnings from continuing operations		10,828		10,023		8,647		7,982
Diluted net earnings per share	$	0.41		0.38		0.32		0.29