Note 18 - Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Jan. 02, 2016

Quarterly Financial Information [Text Block]

18.

elected

Quarterly Financial Data (Unaudited)

The quarterly periods listed in the table below for 2015 are for the 14-weeks ended January 2, 2016 and the 13-weeks ended September 26, 2015, June 27, 2015 and March 28, 2015, respectively. The quarterly periods for 2014 are for the 13-weeks ended December 27, 2014, September 27, 2014, June 28, 2014 and March 29, 2014, respectively.

(In thousands, except per share data)

	20 15								20 14
	4Q a		3Q b		2Q c		1Q d		4Q e		3Q f		2Q g		1Q h
Net sales	$	220,020	$	215,510	$	222,021	$	210,313	$	206,620	$	217,608	$	220,908	$	206,859
Gross profit		82,706		86,182		85,281		76,330		75,559		87,380		82,995		78,494
Operating income		29,854		8,584		36,171		29,548		26,391		40,130		33,719		33,590
Net income		22,463		11,324		28,684		19,995		19,511		29,940		24,578		25,389
Net income per share:
Basic	$	1.00	$	0.50	$	1.26	$	0.88	$	0.86	$	1.33	$	1.09	$	1.13
Diluted	$	1.00	$	0.50	$	1.26	$	0.88	$	0.86	$	1.32	$	1.08	$	1.12

–

In the fourth quarter of 2015, the company recorded $2.1 million related to the company’s transfer of its reed switch manufacturing operations from the U.S. and China to the Philippines, ($0.1) million related to the reorganization of its internal legal structure, $4.0 million in acquisition costs, ($0.3) million in pension settlement refunds (See Note 12) and ($0.3) million in other.

b –

In the third quarter of 2015, the company recorded $1.2 million related to the reed switch manufacturing transfer as noted above, $0.9 million related to the company’s reorganization of its internal legal structure as noted above, $0.3 million in acquisition costs, $30.8 million in pension settlement and wind-up costs (See Note 12) and $0.1 million in other.

c –

In the second quarter of 2015, the company recorded $0.9 million related to the reed switch manufacturing transfer as noted above, $1.7 million related to the company’s reorganization of its internal legal structure as noted above, $0.2 million in acquisition costs, and $0.7 million in pension wind-up costs.

d –

In the first quarter of 2015, the company recorded $1.0 million related to the reed switch manufacturing transfer as noted above, $1.2 million in charges related to the reorganization of its internal legal structure as noted above, $0.2 million in acquisition costs, and $0.7 million in pension wind-up costs.

e –	In the fourth quarter of 2014, the company recorded $2.2 million in charges related to severance and to the company’s reorganization of its internal legal structure as noted above. The company also recorded $0.3 million in acquisition costs and $0.3 million in impairment costs.

f –	In the third quarter of 2014, the company recorded $1.1 million in charges related to the company’s reorganization of its internal legal structure, as noted above.

g –	In the second quarter of 2014, the company recorded a $1.4 million non-cash charge related to the step-up of inventory from the SymCom acquisition (See Note 2), $2.0 million in severance charges and $0.2 million in acquisition costs.

h –	In the first quarter of 2014, the company recorded a $1.4 million non-cash charge related to the step-up of inventory from the SymCom acquisition (See Note 2).