CONSOLIDATED QUARTERLY FINANCIAL DATA

12 Months Ended

Dec. 31, 2014

Quarterly Financial Data [Abstract]

CONSOLIDATED QUARTERLY FINANCIAL DATA

14. CONSOLIDATED QUARTERLY FINANCIAL DATA (UNAUDITED)

The following is a summary of the unaudited quarterly results of operations for fiscal years 2014, 2013 and 2012 (dollars in thousands, except per share amounts):

	First		Second		Third		Fourth
	Quarter		Quarter		Quarter		Quarter
2014
Net sales	$	358,120	$	486,021	$	491,697	$	527,477
Gross profit		46,672		61,613		61,628		62,721
Net income		7,296		16,239		18,307		19,088
Basic net income per share		0.11		0.23		0.26		0.28
Diluted net income per share(3)		0.10		0.23		0.25		0.27
2013
Net sales	$	324,229	$	413,126	$	439,977	$	458,354
Gross profit		42,186		58,853		61,497		52,587
Net income(1)		5,735		14,135		16,236		10,423
Basic net income per share		0.08		0.20		0.24		0.15
Diluted net income per share(3)		0.08		0.20		0.23		0.15
2012
Net sales	$	277,682	$	362,408	$	405,917	$	415,847
Gross profit		19,729		39,681		50,074		54,339
Net income(1)(2)		5,064		1,942		18,441		80,184
Basic and diluted net income per share(3)		0.07		0.03		0.27		1.16

(1) Net income includes pre-tax charges of $0.6 million, $0.2 million and less than $0.1 million for the first, second and third quarters of 2013, respectively, and $1.7 million, $13.6 million, $2.4 million and $0.5 million for the first, second, third and fourth quarters of 2012, respectively, in connection with acquisition related charges associated with the Company’s acquisition of Walker as well as the purchase of certain assets of Beall.

(2) Net income for the fourth quarter of 2012 includes an income tax benefit of $59.0 million primarily related to the reversal of a U.S. valuation allowance against its deferred tax assets.

(3) Basic and diluted net income per share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly net income per share may differ from annual net income per share due to rounding.