Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

17) Quarterly Results of Operations (Unaudited)

The following summarizes the unaudited quarterly results of operations for the years ended December 31, 2014 and 2013.

	Year ended December 31, 2014
	March 31		June 30		Sept. 30			Dec. 31
Net sales	$	102,528	$	106,680	$	125,632		$	153,761
Income from operations		8,338		8,237		2,552			8,560
Net income		5,238		5,200		(3,840	)		1,619
Basic net income per share		0.30		0.29		(0.21	)		0.09
Diluted net income per share		0.29		0.29		(0.21	)		0.08
Weighted average shares outstanding:
Basic number of shares		17,656		17,779		17,979			18,970
Effect of dilutive stock options		306		393		—			347
Diluted number of shares		17,962		18,172		17,979			19,317

	Year ended December 31, 2013
	March 31		June 30		Sept. 30		Dec. 31
Net sales	$	93,797	$	96,305	$	93,023	$	90,081
Income from operations		5,639		7,920		7,794		6,474
Net income		2,871		4,770		5,052		4,485
Basic net income per share		0.17		0.28		0.29		0.25
Diluted net income per share		0.17		0.28		0.29		0.25
Weighted average shares outstanding:
Basic number of shares		17,055		17,136		17,302		17,527
Effect of dilutive stock options		107		36		148		290
Diluted number of shares		17,162		17,172		17,450		17,817

The third and fourth quarters of 2014 were impacted by merger and acquisition related costs of $8,407 and $1,473, respectively, pre-tax and $7,319 and $3,199, respectively, after-tax related to the four acquisitions closed during 2014. Additionally, the third quarter was negatively impacted by $2,974 in pre-tax costs and $1,903 in after-tax costs incurred related to writing-off debt issuance costs and make whole interest payments to our former lenders related to the new debt entered into for the Autocam acquisition.

The first quarter of 2013 was unfavorably impacted by $350 of after tax foreign exchange losses on intercompany loans and by $399 in after tax restructuring and non-operating items.