8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): October 28, 2019

Dorman Products, Inc.

(Exact name of Registrant as Specified in Charter)

Pennsylvania	000-18914	23-2078856
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

3400 East Walnut Street, Colmar, Pennsylvania 18915

(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code: (215) 997-1800

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 Par Value	DORM	The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 2.02. Results of Operation and Financial Condition.

On October 28, 2019, Dorman Products, Inc. (the “Company”) issued a press release announcing its operating results for the third quarter ended September 28, 2019. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.

The information in this Item 2.02 and in Exhibit 99.1 attached hereto are furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

The following exhibit is being furnished with this Form 8-K:

Exhibit Number		Description
	99.1	Press Release dated October 28, 2019

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	DORMAN PRODUCTS, INC.
Date: October 28, 2019	By:	/s/ David M. Hession
	Name:	David M. Hession
	Title:	Chief Financial Officer

EX-99.1

Exhibit 99.1

Dorman Products, Inc. Reports Third Quarter 2019 Results

Highlights:

• Net sales of $253.8 million, up 2.4% compared to $248.0 million in Q3 2018.

• Diluted earnings per share (EPS) on a GAAP basis of $0.65 compared to $1.03 in Q3 2018.

• Adjusted diluted EPS of $0.67 compared to $1.06 in Q3 2018.

• New distribution facility in Portland, TN, became fully operational in early Q4 2019.

COLMAR, PA (October 28, 2019) – Dorman Products, Inc. (the “Company” or “Dorman”) (NASDAQ:DORM), a leading supplier in the automotive aftermarket, today announced its financial results for the third quarter ended September 28, 2019.

3rd Quarter Financial Results

The Company reported third quarter 2019 net sales of $253.8 million, up 2.4% compared to net sales of $248.0 million in the third quarter of 2018. Sales growth in the quarter attributable to acquisitions was approximately 1%.

Gross profit was $86.9 million in the third quarter compared to $95.0 million for the same quarter last year. Gross margin for the third quarter was 34.2% compared to 38.3% in the same quarter last year. The adjusted gross margin was 34.3% in the quarter compared to 38.3% in the same quarter last year. The gross margin decline was primarily due to a shift in customer mix to retail customers from warehouse distributors, redundant overhead costs resulting from operating out of two distribution locations in Portland, TN, and the pass-through of tariff costs to our customers.

Selling, general and administrative (“SG&A”) expenses were $60.0 million, or 23.6% of net sales, in the third quarter of 2019 compared to $51.3 million, or 20.7% of net sales, in the same quarter last year. Adjusted SG&A expenses were $59.2 million, or 23.3% of net sales, in the quarter compared to $49.9 million, or 20.1% of net sales, in the same quarter last year. A 2% increase in SG&A as a percentage of sales was primarily due to the temporary duplication of facility and operating costs related to our distribution center consolidation.

Income tax expense was $5.7 million in the third quarter of 2019, or 21.1% of income before income taxes, down from $9.8 million, or 22.3% of income before income taxes, recorded in the same quarter last year. The decrease in tax rate was primarily a result of lower foreign-sourced income.

Net income for the third quarter of 2019 was $21.3 million, or $0.65 per diluted share, compared to $34.0 million, or $1.03 per diluted share, in the prior year quarter. Adjusted net income in the third quarter was $22.0 million, or $0.67 per diluted share, compared to $35.0 million, or $1.06 per diluted share, in the prior year quarter.

Please refer to the Non-GAAP Financial Measures reported in the supplemental schedules at the end of this release for a detailed reconciliation of the reported (GAAP) financial information to the adjusted financial information (Non-GAAP).

Kevin Olsen, Dorman Products’ President and Chief Executive Officer, stated, “Our third quarter results came in below our expectations as we faced ongoing soft market conditions, particularly in our warehouse distributor channel. Despite these external headwinds, we focused on executing and importantly, made strong progress on consolidating our Portland distribution locations. We are now fully operating out of our new distribution center

and are confident this facility will allow us to more efficiently and effectively serve our customers moving forward. We continued to focus on operational improvements as we reduced inventories by $10 million from the second quarter despite higher acquisition costs related to tariffs. Additionally, we continued to drive innovation in the automotive aftermarket and released 1,055 new SKU’s in the quarter, underscored by the strong growth in our Heavy Duty and Complex Electronic product lines.”

Mr. Olsen continued, “We expect these soft demand conditions to continue impacting our results for the remainder of the year and have lowered our expectations for the fourth quarter accordingly. While these past few quarters have been challenging, we remain confident in our long-term strategy. We will continue to focus on bringing new products to market, operational execution to improve margins and free cash flow, and pursuing strategic acquisitions. Looking ahead, we firmly believe these actions will drive attractive returns for our shareholders.”

Distribution Facility Consolidation Activities

Late in the first quarter of 2019, we began the process of transferring operations of our existing distribution facility in Portland, TN to a new, nearby larger facility. Early in the fourth quarter, we executed our plan and the new facility is now fully operational. While the move had some operational challenges, we expect to improve our customer service abilities and productivity as a result of this transition. We anticipate that we will continue to incur higher costs in the fourth quarter of 2019 and expect our distribution costs to be back to more typical levels as we move through 2020. Year to date, we have incurred approximately $17.1 million of costs ($13.4 million after tax or $0.41 per diluted share) due to start up inefficiencies and duplication of facility overhead and operating costs related to our consolidation activities, with $3.6 million ($2.9 million after tax or $0.09 per diluted share) included in gross profit and $13.5 million ($10.5 million after tax or $0.32 per diluted share) in SG&A expenses.

Q4 Outlook

For the fourth quarter of 2019, we expect financial results substantially in-line with the third quarter of 2019, assuming the continuation of current market conditions.

Share Repurchases

Under its share repurchase program, Dorman did not repurchase shares of its common stock during the quarter ended September 28, 2019. The Company has $160.6 million left under its current share repurchase authorization.

About Dorman Products

Dorman Products, Inc. is a leading supplier of Dealer “Exclusive” replacement parts to the Automotive, Medium and Heavy Duty Aftermarkets. Dorman’s products are marketed under the Dorman^®, OE Solutions^™, HELP!^®, AutoGrade^™, First Stop^™, Conduct-Tite^®, TECHoice^™, Dorman^® Hybrid Drive Batteries and Dorman HD Solutions^™ brand names.

Non-GAAP Measures

In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), this earnings release also contains Non-GAAP financial measures. The reasons why we believe these measures provide useful information to investors and a reconciliation of these measures to the most directly comparable GAAP measures and other information relating to these Non-GAAP measures are included in the supplemental schedules attached.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to gross and operating margin, the Company’s site consolidation activities, operational costs, the Company’s outlook, continued launch of new products, future growth, long-term value, duplication of facility costs, full year goals, net sales, diluted EPS, adjusted diluted EPS, SG&A expenses, tariffs and customer mix. Words such as “believe,” “demonstrate,” “expect,” “estimate,”

“forecast,” “anticipate,” “should,” “will” and “likely” and similar expressions identify forward-looking statements. However, the absence of these words does not mean the statements are not forward-looking. In addition, statements that are not historical should also be considered forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date the statement was made. Such forward-looking statements are based on current expectations that involve a number of known and unknown risks, uncertainties and other factors (many of which are outside of our control) which may cause actual events to be materially different from those expressed or implied by such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to: (i) competition in the automotive aftermarket; (ii) unfavorable economic conditions; (iii) the loss or decrease in sales among one of our top customers; (iv) customer consolidation in the automotive aftermarket; (v) foreign currency fluctuations and our dependence on foreign suppliers; (vi) extending credit to customers; (vii) the loss of a key vendor; (viii) limited customer shelf space; (ix) reliance on new product development; (x) changes in automotive technology and improvements in the quality of new vehicle parts; (xi) claims of intellectual property infringement; (xii) quality problems with products after their production and sale to customers; (xiii) loss of third party transportation providers on whom we depend; (xiv) unfavorable results of legal proceedings; (xv) our executive chairman and his family owning a significant portion of the Company; (xvi) operations may be subject to quarterly fluctuations and disruptions from events beyond our control; (xvii) regulations related to conflict minerals; (xviii) cyber-attacks; (xix) imposition of taxes, duties or tariffs; (xx) exposure to risks related to accounts receivable; (xxi) volatility in the market price of our common stock and potential securities class action litigation; (xxii) losing the services of our executive officers or other highly qualified and experienced contributors; and (xxiii) the inability to identify suitable acquisition candidates, complete acquisitions or integrate acquisitions successfully. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. For additional information concerning factors that could cause actual results to differ materially from the information contained in this press release, reference is made to the information in Part I, “Item 1A Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 29, 2018.    The Company is under no obligation to (and expressly disclaims any such obligation to) update any of the information in this press release if any forward-looking statement later turns out to be inaccurate whether as a result of new information, future events or otherwise.

Investor Relations Contact

David Hession, SVP and Chief Financial Officer

dhession@dormanproducts.com

(215) 997-1800

Visit our website at www.dormanproducts.com. The Investor Relations section of the website contains a significant amount of information about Dorman, including financial and other information for investors. Dorman encourages investors to visit its website periodically to view new and updated information.

DORMAN PRODUCTS, INC. AND SUBSIDIARIES

Consolidated Statements of Operations

(in thousands, except per-share amounts)

	13 Weeks				13 Weeks
Third Quarter (unaudited)	09/28/19		Pct.		09/29/18		Pct.*
Net sales	$	253,796		100.0	$	247,954		100.0
Cost of goods sold		166,872		65.8		152,957		61.7
Gross profit		86,924		34.2		94,997		38.3
Selling, general and administrative expenses		59,961		23.6		51,264		20.7
Income from operations		26,963		10.6		43,733		17.6
Other income, net		33		—		61		—
Income before income taxes		26,996		10.6		43,794		17.7
Provision for income taxes		5,688		2.2		9,777		3.9
Net income	$	21,308		8.4	$	34,017		13.7
Diluted earnings per share	$	0.65			$	1.03
Weighted average diluted shares outstanding		32,594				33,095

	39 Weeks				39 Weeks
Third Quarter (unaudited)	09/28/19		Pct.		09/29/18		Pct.*
Net sales	$	751,762		100.0	$	713,363		100.0
Cost of goods sold		490,199		65.2		437,029		61.3
Gross profit		261,563		34.8		276,334		38.7
Selling, general and administrative expenses		177,637		23.6		149,828		21.0
Income from operations		83,926		11.2		126,506		17.7
Other income, net		90		—		286		—
Income before income taxes		84,016		11.2		126,792		17.8
Provision for income taxes		17,803		2.4		27,789		3.9
Net income	$	66,213		8.8	$	99,003		13.9
Diluted earnings per share	$	2.02			$	2.98
Weighted average diluted shares outstanding		32,738				33,267

* Percentage of sales data may not add due to rounding.

DORMAN PRODUCTS, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(Unaudited)

(in thousands)

	09/28/19		12/29/18
Assets:
Cash and cash equivalents	$	54,170	$	43,458
Accounts receivable [1]		372,356		400,663
Inventories		282,087		270,504
Prepaid expenses		16,237		5,652
Total current assets		724,850		720,277
Property, plant & equipment, net		103,483		98,647
Right of use assets [2]		33,870		—
Goodwill and other intangible assets, net		96,432		97,770
Deferred income taxes, net		6,114		6,228
Other assets		52,067		55,184
Total assets	$	1,016,816	$	978,106
Liabilities & shareholders’ equity:
Accounts payable	$	80,813	$	109,096
Accrued customer rebates and returns [1]		88,575		96,888
Accrued expenses and other		26,164		26,155
Total current liabilities		195,552		232,139
Long-term lease liabilities [2]		31,413		—
Other long-term liabilities		17,259		18,344
Shareholders’ equity		772,592		727,623
Total liabilities and equity	$	1,016,816	$	978,106

[1] - The previously reported December 29, 2018 Consolidated Balance Sheet includes an adjustment to present Accrued customer rebates and returns as an accrued liability. The effect of this reclassification adjustment was a $90.5 million increase to Accounts receivable and Accrued customer rebates and returns as of December 29, 2018.

[2] - The Company adopted Accounting Standard Codification 842 – Leases (“ASC 842”) during the first quarter ended March 30, 2019, using the modified retrospective approach, which does not require prior periods to be restated.

Selected Cash Flow Information (unaudited):

	13 Weeks (unaudited)				39 Weeks (unaudited)
(in thousands)	09/28/19		09/29/18		09/28/19		09/29/18
Depreciation, amortization and accretion	$	6,914	$	6,669	$	21,011	$	19,673
Capital expenditures	$	7,321	$	6,683	$	24,656	$	18,099

DORMAN PRODUCTS, INC. AND SUBSIDIARIES

Non-GAAP Financial Measures

(in thousands, except per-share amounts)

Our financial results include certain financial measures not derived in accordance with generally accepted accounting principles (GAAP). Non-GAAP financial measures should not be used as a substitute for GAAP measures, or considered in isolation, for the purpose of analyzing our operating performance, financial position or cash flows. Additionally, these non-GAAP measures may not be comparable to similarly titled measures reported by other companies. However, we have presented these non-GAAP financial measures because we believe this presentation, when reconciled to the corresponding GAAP measure, provides useful information to investors by offering additional ways of viewing our results, profitability trends, and underlying growth relative to prior and future periods and to our peers. Management uses these Non-GAAP financial measures in making financial, operating, and planning decisions and in evaluating our performance. Non-GAAP financial measures may reflect adjustments for charges such as fair value adjustments, amortization, transaction costs, severance, accelerated depreciation, and other similar expenses related to acquisitions as well as other items that are not related to our ongoing performance.

Adjusted Net Income:

	13 Weeks			13 Weeks			39 Weeks			39 Weeks
(unaudited)	09/28/19			09/29/18			09/28/19			09/29/18
Net income (GAAP)	$	21,308		$	34,017		$	66,213		$	99,003
Pretax acquisition-related inventory fair value adjustment [1]		—			—			129			1,779
Pretax acquisition-related intangible assets amortization [2]		633			483			1,868			1,474
Pretax acquisition-related transaction and other costs [3]		245			857			3,011			1,189
Pretax investment impairment [4]		—			—			—			1,064
Tax adjustment (related to above items) [5]		(222	)		(326	)		(1,244	)		(1,157	)
Tax (benefit) related to pre-2016 state tax matters [5]		—			—			—			(368	)
Adjusted net income (Non-GAAP)	$	21,964		$	35,031		$	69,977		$	102,984
Diluted earnings per share (GAAP)	$	0.65		$	1.03		$	2.02		$	2.98
Pretax acquisition-related inventory fair value adjustment [1]		—			—			0.00			0.05
Pretax acquisition-related intangible assets amortization [2]		0.02			0.01			0.06			0.04
Pretax acquisition-related transaction and other costs [3]		0.01			0.03			0.09			0.04
Pretax investment impairment [4]		—			—			—			0.03
Tax adjustment (related to above items) [5]		(0.01	)		(0.01	)		(0.04	)		(0.03	)
Tax (benefit) related to pre-2016 state tax matters [5]		—			—			—			(0.01	)
Adjusted diluted earnings per share (Non-GAAP)	$	0.67		$	1.06		$	2.14		$	3.10
Weighted average diluted shares outstanding		32,594			33,095			32,738			33,267

[1] – Pretax acquisition-related inventory fair value adjustments result from adjusting the value of acquired inventory from historical cost to fair value. Such costs were $0.1 million pretax (or $0.1 million after tax) and $1.8 million pretax (or $1.3 million after tax) during the thirty-nine weeks ended September 28, 2019 and September 29, 2018, respectively, and were included in Cost of Goods Sold.

[2] – Pretax acquisition-related intangible asset amortization results from allocating the purchase price of acquisitions to the acquired tangible and intangible assets of the acquired business and recognizing the cost of the intangible asset over the period of benefit. Such costs were $0.6 million pretax (or $0.5 million after tax) during the thirteen weeks ended September 28, 2019 and $1.9 million pretax (or $1.4 million after tax) during the thirty-nine weeks ended September 28, 2019 and were included in Selling, General and Administrative expenses. Such costs were $0.5 million pretax (or $0.4 million after tax) during the thirteen weeks ended September 29, 2018 and $1.5 million pretax (or $1.1 million after tax) during the thirty-nine weeks ended September 29, 2018 and were included in Selling, General and Administrative expenses.

DORMAN PRODUCTS, INC. AND SUBSIDIARIES

Non-GAAP Financial Measures

(in thousands, except per-share amounts)

[3] – Pretax acquisition-related transaction and other costs include costs incurred to complete and integrate acquisitions, adjustments to contingent consideration obligations, and facility consolidation expenses. During the thirteen weeks ended September 28, 2019, we incurred charges for integration costs, severance, and other facility consolidation expenses of $0.1 million pretax (or $0.1 million after tax). Additionally, we recorded inventory transfer costs of $0.1 million pretax ($0.1 million after tax) during the thirteen weeks ended September 28, 2019 which were included in Cost of Goods Sold. During the thirty-nine weeks ended September 28, 2019, we incurred charges for integration costs, severance, and other facility consolidation expenses of $2.0 million pretax (and $1.5 million after tax) and accelerated depreciation of $0.8 million pretax (or $0.6 million after tax). Each of these were included in Selling, General and Administrative expenses. Additionally, we recorded inventory transfer costs of $0.2 million pretax ($0.2 million after tax) during the thirty-nine weeks ended September 28, 2019 which were included in Cost of Goods Sold.    During the thirteen weeks ended September 29, 2018 and the thirty-nine weeks ended September 29, 2018, we incurred charges to complete and integrate acquisitions as well as accretion expenses related to contingent consideration obligations of $0.9 million pretax (or $0.7 million after tax) and $1.2 million pretax (or $0.9 million after tax), respectively, which were included in Selling, General and Administrative expenses.

[4] – Pretax investment impairment results from the acquisition of the remaining outstanding shares of a previously unconsolidated entity. The estimated fair value of the net assets acquired was less than our prior investment in the entity. Such costs were $1.1 million pretax (and $1.1 million after tax) during the thirteen and thirty-nine weeks ended September 29, 2018 and were included in Selling, General and Administrative expenses.

[5] – Tax adjustments represent the aggregate tax effect of all Non-GAAP adjustments reflected in the table above of $0.2 million during the thirteen weeks ended September 28, 2019, $1.2 million during the thirty-nine weeks ended September 28, 2019, $0.3 million during the thirteen weeks ended September 29, 2018, and $1.2 million during the thirty-nine weeks ended September 29, 2018. Such items are estimated by applying our overall estimated tax rate to the pretax amount, or, by applying a specific tax rate if one is appropriate.    Also included in Provision for Income Taxes for the thirty-nine weeks ended September 29, 2018 is a tax benefit related to pre-2016 state tax matters of $0.4 million.

Adjusted Gross Profit:

	13 Weeks				13 Weeks
(unaudited)	09/28/19		Pct.*		09/29/18		Pct.
Gross profit (GAAP)	$	86,924		34.2	$	94,997		38.3
Pretax acquisition-related inventory fair value adjustment		—		—		—		—
Pretax acquisition-related transaction and other costs		106		0.0		—		—
Adjusted gross profit (Non-GAAP)	$	87,030		34.3	$	94,997		38.3
Net sales	$	253,796			$	247,954

	39 Weeks				39 Weeks
(unaudited)	09/28/19		Pct.		09/29/18		Pct.*
Gross profit (GAAP)	$	261,563		34.8	$	276,334		38.7
Pretax acquisition-related inventory fair value adjustment		129		0.0		1,779		0.2
Pretax acquisition-related transaction and other costs		239		0.0		—		—
Adjusted gross profit (Non-GAAP)	$	261,931		34.8	$	278,113		39.0
Net sales	$	751,762			$	713,363

DORMAN PRODUCTS, INC. AND SUBSIDIARIES

Non-GAAP Financial Measures

(in thousands, except per-share amounts)

Adjusted SG&A Expenses:

	13 Weeks						13 Weeks
(unaudited)	09/28/19			Pct.			09/29/18			Pct.*
SG&A expenses (GAAP)	$	59,961			23.6		$	51,264			20.7
Pretax acquisition-related intangible assets amortization		(633	)		(0.2	)		(483	)		(0.2	)
Pretax acquisition-related transaction and other costs		(139	)		(0.1	)		(857	)		(0.3	)
Pretax investment impairment		—			—			—			—
Adjusted SG&A expenses (Non-GAAP)	$	59,189			23.3		$	49,924			20.1
Net sales	$	253,796					$	247,954

	39 Weeks						39 Weeks
(unaudited)	09/28/19			Pct.			09/29/18			Pct.
SG&A expenses (GAAP)	$	177,637			23.6		$	149,828			21.0
Pretax acquisition-related intangible assets amortization		(1,868	)		(0.2	)		(1,474	)		(0.2	)
Pretax acquisition-related transaction and other costs		(2,772	)		(0.4	)		(1,189	)		(0.2	)
Pretax investment impairment		—			—			(1,064	)		(0.1	)
Adjusted SG&A expenses (Non-GAAP)	$	172,997			23.0		$	146,101			20.5
Net sales	$	751,762					$	713,363

* Percentage of sales data may not add due to rounding.

XML

Document and Entity Information	Oct. 28, 2019
Cover [Abstract]
Security Exchange Name	NASDAQ
Amendment Flag	false
Entity Central Index Key	0000868780
Document Type	8-K
Document Period End Date	Oct. 28, 2019
Entity Registrant Name	Dorman Products, Inc.
Entity Incorporation State Country Code	PA
Entity File Number	000-18914
Entity Tax Identification Number	23-2078856
Entity Address, Address Line One	3400 East Walnut Street
Entity Address, City or Town	Colmar
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	18915
City Area Code	(215)
Local Phone Number	997-1800
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Security 12b Title	Common Stock, $0.01 Par Value
Trading Symbol	DORM
Entity Emerging Growth Company	false