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Quarterly Financial Information (Unaudited)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
QUARTERLY FINANCIAL DATA (Unaudited)
QUARTERLY FINANCIAL DATA (Unaudited)
Summarized quarterly financial data for 2015 and 2014 are presented below. Seasonal influences affect the Company’s sales and profits, with peak business occurring in May through August.
(in thousands, except per share amounts)
 
2015
 
2014
 
First
Second
Third
Fourth
 
First
Second
Third
Fourth
Sales
$
207,798

$
215,734

$
231,614

$
224,431

 
$
172,610

$
207,751

$
234,783

$
223,911

Gross profit
45,537

50,665

57,509

48,737

 
38,130

47,286

55,440

48,372

Net income
7,359

9,710

14,756

11,384

 
7,238

9,195

13,367

11,351

Earnings per share
 

 

 

 

 
 

 

 

 

Diluted
$
0.64

$
0.84

$
1.28

$
0.99

 
$
0.59

$
0.75

$
1.10

$
1.00

Average shares
 

 

 

 

 
 

 

 

 

Diluted
11,436

11,498

11,496

11,500

 
12,270

12,276

12,205

11,403

Dividends per share
$
0.08

0.08

$
0.08

$
0.08

 
$
0.07

$
0.07

$
0.07

$
0.07

Market price of
    common stock
 

 

 

 

 
 

 

 

 

High
$
63.39

$
64.45

$
55.12

$
57.51

 
$
60.65

$
57.86

$
55.84

$
52.13

Low
$
44.74

$
48.10

$
44.48

$
43.98

 
$
46.87

$
49.50

$
40.75

$
37.93


 
The sum of quarterly earnings per share may not equal total year earnings per share due to rounding of earnings per share amounts, and differences in weighted-average shares and equivalent shares outstanding for each of the periods presented.

The fourth quarter 2014 results include the reversal of a $1.25 million liability the Company had previously reserved relating to a lawsuit which was appealed and overturned in the Company's favor and $.7 million in pretax costs related to the repurchase agreement with Capital Southwest and the subsequent secondary offering of the remaining Capital Southwest shares.