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Quarterly Results of Operations (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Summary of Unaudited Quarterly Results of Operations

The following summarizes the unaudited quarterly results of operations for the years ended December 31, 2016 and 2015.

 

     Year ended December 31, 2016  
     March 31      June 30      Sept. 30      Dec. 31  

Net sales

   $ 212,226      $ 214,272      $ 204,961      $ 202,029  

Income from operations

   $ 11,874      $ 16,703      $ 18,727      $ 12,096  

Net income (a)

   $ (1,299    $ 2,031      $ 4,147      $ 3,063  

Comprehensive income (loss)(a)

   $ 4,418      $ (973    $ 8,740      $ (10,212

Basic net income per share

   $ (0.05    $ 0.08      $ 0.15      $ 0.11  

Diluted net income per share

   $ (0.05    $ 0.07      $ 0.15      $ 0.11  

Weighted average shares outstanding:

           

Basic number of shares

     26,869        27,024        27,159        27,241  

Effect of dilutive stock options

     —          163        163        180  
  

 

 

    

 

 

    

 

 

    

 

 

 

Diluted number of shares

     26,869        27,187        27,322        27,421  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

     Year ended December 31, 2015  
     March 31      June 30      Sept. 30      Dec. 31  

Net sales

   $ 163,746      $ 164,856      $ 154,824      $ 183,854  

Income from operations

   $ 13,934      $ 13,589      $ 10,122      $ (10,848

Net income (a)

   $ 6,001      $ 6,953      $ 4,630      $ (25,015

Comprehensive income (loss)(a)

   $ (11,856    $ 10,955      $ (2,121    $ (28,929

Basic net income per share

   $ 0.32      $ 0.36      $ 0.17      $ (0.93

Diluted net income per share

   $ 0.31      $ 0.36      $ 0.17      $ (0.93

Weighted average shares outstanding:

           

Basic number of shares

     18,996        19,215        26,839        26,840  

Effect of dilutive stock options

     384        367        328        —    
  

 

 

    

 

 

    

 

 

    

 

 

 

Diluted number of shares

     19,380        19,582        27,167        26,840  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

(a) During the fourth quarter ended December 31, 2016, the Company identified certain prior period tax errors. The Company has determined that such errors were not material to the previously issued financial statements and therefore has corrected for such errors as out of period adjustments in 2016, resulting in $998 of tax benefit being recognized in the fourth quarter of 2016 that should have been recognized in the fourth quarter of 2015. During 2016 the Company identified certain prior period comprehensive income errors which primarily related to the accounting for deferred taxes related to unrealized gains (losses) of the fair value of derivatives and the accounting for the foreign currency translation of goodwill (see Note 10). The Company has determined that such errors were not material to the previously issued financial statements and therefore has corrected for such errors as out of period adjustments. The impact of these errors on other comprehensive income resulted in an increase (decrease) to comprehensive income of $582, $(517), $(2,542), $3,104, $91, $166, $345, $(955) for the quarters ended March 31, 2016, June 30, 2016, September 31, 2016, December 31, 2016, March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015.