Note 18 - Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 28, 2013

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information [Text Block]

18. Selected Quarterly Financial Data (Unaudited)

The quarterly periods listed in the table below for 2013 are for the 13-weeks ending December 28, 2013, September 28, 2013, June 29, 2013 and March 30, 2013 respectively. The quarterly periods for 2012 are for the 13-weeks ending December 29, 2012, September 29, 2012, June 30, 2012 and March 31, 2012, respectively.

(In thousands, except per share data)

	2013									2012
	4Qa		3Qb		2Qc		1Qd			4Qe		3Qf			2Q			1Qg
Net sales	$	198,129	$	201,040	$	187,766	$	170,918		$	158,794	$	172,688		$	175,853		$	160,578
Gross profit		77,109		80,960		73,557		64,606			59,407		68,636			69,562			60,862
Operating income		32,823		37,559		31,382		28,117			18,019		30,931			32,096			25,824
Net income (as previously reported)		23,658		26,990		26,648		14,794			9,841		23,998			23,604			17,889
Equity method loss adjustments(g)		—		—		—		—			2,188		(1,220	)		(641	)		(326	)
Tax adjustment(d)		—		—		—		(3,306	)		—		—			—			—
Net income (Q1 2013 as restated)		23,658		26,990		26,648		11,488			12,029		22,778			22,963			17,563
Net income per share (as reported):
Basic	$	1.05	$	1.20	$	1.19	$	0.67		$	0.45	$	1.09		$	1.08		$	0.83
Diluted	$	1.04	$	1.19	$	1.18	$	0.66		$	0.44	$	1.08		$	1.07		$	0.81
Impact of equity method loss adjustments:
Basic	$	—	$	—	$	—	$	—		$	0.10	$	(0.05	)	$	(0.03	)	$	(0.02	)
Diluted	$	—	$	—	$	—	$	—		$	0.09	$	(0.05	)	$	(0.03	)	$	(0.01	)
Impact of tax adjustment:
Basic	$	—	$	—	$	—	$	(0.15	)	$	—	$	—		$	—		$	—
Diluted	$	—	$	—	$	—	$	(0.15	)	$	—	$	—		$	—		$	—
Net income per share (Q1 2013 as restated):
Basic	$	1.05	$	1.20	$	1.19	$	0.52		$	0.55	$	1.04		$	1.05		$	0.81
Diluted	$	1.04	$	1.19	$	1.18	$	0.51		$	0.53	$	1.03		$	1.04		$	0.80

a – In the fourth quarter of 2013, the company recorded a $2.8 million charge to income tax expense related to the company’s impairment of its investment in Shocking Technologies in the fourth quarter of 2012. (See Note 6). The company also recorded a $0.5 million non-cash credit related to the step-up of inventory from the Hamlin acquisition (See Note 2) and $0.2 million in acquisition expenses for the Hamlin acquisition.

b – In the third quarter of 2013, the company recorded a $0.3 million non-cash charge related to the step-up of inventory from the Hamlin acquisition (See Note 2). The company also recorded $0.3 million in acquisition charges related to the Hamlin acquisition.

c – In the second quarter of 2013, the company recorded a $1.7 million non-cash charge related to step-up of inventory from the Hamlin acquisition (See Note 2). The company also recorded $1.2 million in acquisition charges related to the Hamlin acquisition.

d – In the first quarter of 2013, the company recorded a $10.7 million charge related to the impairment of Shocking Technologies. Additionally, the company restated net income for a $3.3 million charge to income tax expense related to the company’s investment in Shocking Technologies (See Note 6).

e – In the fourth quarter of 2012, the company recorded a $7.3 million charge related to the impairment and equity method losses of Shocking Technologies. (See Note 6). The company also recorded a $5.1 million charge related to a pension settlement (See Note 12).

f – In the third quarter of 2012, the company recorded $0.5 million charge related to the impairment of the Dünsen, Germany property (See Note 11). The company also recorded $0.6 million in acquisition charges related to the Accel and Terra Power acquisitions and $0.4 million of non-cash charges related to the step-up of inventory from the Accel acquisition (See Note 2).

g – In the first quarter of 2012, the company recorded a $0.2 million non-cash charge related to the step-up of inventory from the Selco acquisition (See Note 2).