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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Net sales $ 172,149 $ 132,780 $ 149,387
Cost of sales 160,053 126,965 149,323
Gross profit 12,096 [1] 5,815 [2] 64
Selling, general, and administrative expense 16,663 14,143 16,921
Gain on sale of facilities (2,960) (7,860)
Restructuring expense 1,364 881 990
Operating loss (2,971) [1] (9,209) (9,987)
Bargain purchase gain 20,080
Other income (expense) 267 201 (357)
Interest income 267 6 14
Interest expense (583) (490) (509)
Income (loss) from continuing operations before income taxes 17,060 (9,492) (10,839)
Income tax benefit (3,252) (1,100) (4,098)
Income (loss) from continuing operations 20,312 (8,392) (6,741)
Discontinued operations:      
Loss from operations of discontinued operations (1,779) (3,180)
Gain on sale of facility 6
Income tax benefit (2) (658)
Loss on discontinued operations (1,771) (2,522)
Net income (loss) $ 20,312 [3] $ (10,163) $ (9,263)
Basic income (loss) per share:      
Continuing operations, basic (in dollars per share) $ 2.09 $ (0.88) $ (0.71)
Discontinued operations, basic (in dollars per share) (0.18) (0.26)
Net income (loss) per share, basic (in dollars per share) 2.09 (1.06) (0.97)
Diluted income (loss) per share:      
Continuing operations, diluted (in dollars per share) 2.09 (0.88) (0.71)
Discontinued operations, diluted (in dollars per share) (0.18) (0.26)
Net income (loss) per share, diluted (in dollars per share) $ 2.09 $ (1.06) $ (0.97)
Shares used in per share calculations:      
Basic (in shares) 9,726 9,613 9,588
Diluted (in shares) 9,733 9,613 9,588
[1] Operating income for the third quarter of 2018 includes a gain on sale of facility of $2.8 million for the sale of property in Houston, Texas. Operating income for the fourth quarter of 2018 includes a gain on sale of facility of $0.2 million for the sale of the Monterrey, Mexico facility.
[2] Gross profit for the fourth quarter of 2017 includes a charge of $1.2 million to cost of sales as a result of a change in estimate to workers compensation reserves.
[3] Net income for the third quarter of 2018 includes a preliminary bargain purchase gain of $21.9 million. Net income for the fourth quarter of 2018 includes a measurement period adjustment of $1.8 million to decrease the bargain purchase gain.