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Selected Quarterly Financial Data (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2012
Selected Quarterly Financial Data (Unaudited)  
Schedule of quarterly financial information

 

 

(in thousands, except

per share amounts)

 

 

 

2012

 

2011

 

 

 

Fourth

 

Third

 

Second

 

First

 

Fourth

 

Third

 

Second

 

First

 

 

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

144,686

 

$

172,113

 

$

181,703

 

$

158,734

 

$

130,732

 

$

162,366

 

$

177,812

 

$

132,536

 

Cost of sales

 

89,482

 

96,390

 

98,557

 

89,329

 

75,822

 

86,919

 

94,313

 

75,588

 

Gross profit

 

55,204

 

75,723

 

83,146

 

69,405

 

54,910

 

75,447

 

83,499

 

56,948

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Research and development and other engineering

 

8,763

 

8,916

 

9,043

 

9,198

 

6,143

 

6,804

 

6,945

 

5,994

 

Selling

 

21,109

 

20,941

 

19,881

 

20,432

 

18,041

 

18,633

 

19,819

 

17,075

 

General and administrative

 

23,799

 

23,843

 

27,087

 

26,244

 

23,570

 

25,174

 

25,454

 

21,621

 

Impairment of goodwill

 

2,346

 

 

 

 

1,282

 

 

 

 

Loss (gain) on sale of assets

 

124

 

33

 

(13

)

23

 

190

 

(46

)

73

 

(25

)

Income (loss) from operations

 

(937

)

21,990

 

27,148

 

13,508

 

5,684

 

24,882

 

31,208

 

12,283

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) in equity method investment

 

 

 

 

 

 

4,471

 

(69

)

(14

)

Interest income, net

 

35

 

55

 

58

 

65

 

82

 

79

 

108

 

72

 

Income (loss) before income taxes

 

(902

)

22,045

 

27,206

 

13,573

 

5,766

 

29,432

 

31,247

 

12,341

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for (benefit from) income taxes

 

(6,785

)

9,069

 

11,347

 

6,372

 

818

 

10,052

 

11,754

 

5,263

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

5,883

 

$

12,976

 

$

15,859

 

$

7,201

 

$

4,948

 

$

19,380

 

$

19,493

 

$

7,078

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.12

 

$

0.27

 

$

0.33

 

$

0.15

 

$

0.10

 

$

0.40

 

$

0.39

 

$

0.14

 

Diluted

 

0.12

 

0.27

 

0.33

 

0.15

 

0.10

 

0.40

 

0.39

 

0.14

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash dividends declared per common share

 

$

0.25

 

$

0.125

 

$

0.125

 

$

0.125

 

$

0.125

 

$

0.125

 

$

0.125

 

$

0.125