Quarterly Data (Unaudited)

12 Months Ended

Dec. 31, 2012

Quarterly Financial Information Disclosure [Abstract]

Quarterly Data (Unaudited)

Quarterly Data (Unaudited)

The following tables summarize selected quarterly financial data for the years ended December 31, 2012 and 2011:

	2012
(Dollars in thousands except per share amounts)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Total
Net sales	$	353,630		$	325,088		$	290,601		$	303,759		$	1,273,078
Gross margin	49,418			53,024			52,369			43,972			198,783
Percent of sales	14.0		%	16.3		%	18.0		%	14.5		%	15.6		%
Net income	$	6,118		$	7,929		$	8,114		$	2,503		$	24,664
Net income per share of common stock:
Basic	0.30			0.39			0.40			0.12			1.21
Diluted	0.30			0.38			0.39			0.12			1.19
Dividends per share of common stock	—			0.075			0.075			0.075			0.225
Stock price range:
High	32.91			29.37			25.57			25.93
Low	24.77			20.37			17.59			18.84
	2011
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Total
Net sales	$	374,805		$	424,710		$	392,794		$	334,421		$	1,526,730
Gross margin	55,800			62,671			57,350			39,500			215,321
Percent of sales	14.9		%	14.8		%	14.6		%	11.8		%	14.1		%
Net income	$	11,818		$	13,872		$	13,527		$	762		$	39,979
Net income per share of common stock:
Basic	0.58			0.68			0.66			0.04			1.96
Diluted	0.57			0.67			0.65			0.04			1.93
Stock price range:
High	44.94			44.00			42.05			30.15
Low	33.99			33.02			21.11			19.53

The Company recorded a $7.4 million pre-tax expense in the fourth quarter 2012 for a net inventory loss. A portion of this expense may have been applicable to the third quarter 2012. Any insurance recoveries will be recorded in the future as they become probable and estimable.

The Company recorded a $2.4 million expense in the fourth quarter 2011 that consisted of a net inventory loss of $3.6 million and the associated reduction in incentive compensation expense of $1.2 million. A portion of this $2.4 million pre-tax expense may have been applicable to the second or third quarters of 2011.