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Selected Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Schedule of selected quarterly financial data The following table sets forth selected quarterly financial data for each of the quarters in 2018 and 2017, respectively:
 
(in thousands, except per share amounts) 
 
2018
 
2017
 
Fourth
Quarter
 
Third
Quarter
 
Second
Quarter
 
First
Quarter
 
Fourth
Quarter
 
Third
Quarter
 
Second
Quarter
 
First
Quarter
 
 
 
 
 
 
 
 
Net sales
$
241,845

 
$
284,178

 
$
308,007

 
$
244,779

 
$
231,681

 
$
262,476

 
$
263,002

 
$
219,867

Cost of sales
143,409

 
150,282

 
167,442

 
137,157

 
129,777

 
143,338

 
140,139

 
120,390

Gross profit
98,436

 
133,896

 
140,565

 
107,622

 
101,904

 
119,138

 
122,863

 
99,477

Research and development and other engineering
10,216

 
10,441

 
11,249

 
11,150

 
12,565

 
11,265

 
11,967

 
11,819

Selling
26,278

 
26,879

 
29,201

 
27,573

 
28,753

 
27,867

 
28,646

 
29,637

General and administrative
45,195

 
37,356

 
39,354

 
37,188

 
36,236

 
33,441

 
37,586

 
35,845

   Total operating expenses
81,689

 
74,676

 
79,804

 
75,911

 
77,554

 
72,573

 
78,199

 
77,301

Net gain on disposal of assets
(8,810
)
 
(460
)
 
(125
)
 
(1,184
)
 
(13
)
 
(147
)
 
50

 
(50
)
Impairment of goodwill
6,686

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Income from operations
18,871

 
59,680

 
60,886

 
32,895

 
24,363

 
46,712

 
44,614

 
22,226

Loss in equity investment, before tax
(11
)
 
(30
)
 
2

 
(24
)
 
(33
)
 
(13
)
 
(12
)
 
(28
)
Foreign exchange gain (loss)
(571
)
 
1,242

 
(142
)
 
(99
)
 
342

 
(16
)
 
523

 
403

Interest (expense) income, net
(239
)
 
(58
)
 
(184
)
 
(90
)
 
(104
)
 
(296
)
 
(199
)
 
(189
)
Gain (adjustment) on bargain purchase of a business
—

 
—

 
—

 
—

 
—

 
(2,052
)
 
—

 
8,388

Gain (loss) on disposal of a business
—

 
—

 
—

 
—

 
(654
)
 
443

 
—

 
—

Income before income taxes
18,050

 
60,834

 
60,562

 
32,682

 
23,914

 
44,778

 
44,926

 
30,800

Provision for
  income taxes
5,293

 
16,473

 
16,476

 
7,253

 
10,829

 
16,581

 
16,712

 
7,679

Net income
$
12,757

 
$
44,361

 
$
44,086

 
$
25,429

 
$
13,085

 
$
28,197

 
$
28,214

 
$
23,121

Earnings per share of common stock:


 


 


 
0

 
 

 
 

 
 

 
 

Basic
$
0.28

 
$
0.96

 
$
0.95

 
$
0.55

 
$
0.28

 
$
0.60

 
$
0.59

 
$
0.49

Diluted
0.28

 
0.95

 
0.94

 
0.54

 
0.27

 
0.59

 
0.59

 
0.48

Cash dividends declared per
share of common stock
$
0.22

 
$
0.22

 
$
0.22

 
$
0.21

 
$
—

 
$
0.42

 
$
0.21

 
$
0.18