Supplemental Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Supplementary Quarterly Financial Data (Unaudited)

Supplemental Quarterly Financial Data (Unaudited)

	(In thousands, except per share amounts)
	Three Months Ended 2017									Three Months Ended 2016
	Dec 31			Sep 30		Jul 1		Apr 1		Dec 31		Oct 1		Jul 2		Apr 2
Net Revenues	$	142,258		$	138,690	$	140,938	$	136,297	$	142,486	$	132,571	$	133,437	$	142,148
Gross Profit	25,693			26,009		26,191		24,927		27,786		25,223		26,215		26,969
(Loss) Income Before Taxes	(5,057		)	5,595		4,564		2,507		5,825		6,248		5,331		20,709
Income Tax (Benefit) Expense	(14,541		)	940		741		392		2,989		1,234		1,470		7,159
Net Income	$	9,484		$	4,655	$	3,823	$	2,115	$	2,836	$	5,014	$	3,861	$	13,550
Earnings Per Share
Basic earnings per share	$	0.84		$	0.41	$	0.34	$	0.19	$	0.25	$	0.45	$	0.35	$	1.22
Diluted earnings per share	$	0.82		$	0.41	$	0.33	$	0.18	$	0.25	$	0.44	$	0.34	$	1.21

In the fourth quarter of 2017, we adopted the Tax Cuts and Jobs Act and as a result, recorded a provisional deferred income tax benefit of $13.0 million related to the re-measurement for the year ended December 31, 2017. See Note 16. In addition, we commenced a restructuring plan and recorded restructuring charges of $8.8 million (with $0.5 million recorded as costs of sales). See Note 3.

In the third quarter of 2017, we acquired 100.0% of the outstanding equity interests of LDS and LDS’ results of operations have been included in our consolidated statements of operations since the date of acquisition as part of the Electronic Systems segment. See Note 2.

In the first quarter of 2016, we entered into and completed the sale of our Pittsburgh, Pennsylvania and Miltec operations, both of which were part of our Electronic Systems operating segment. We recorded a preliminary pre-tax gain of $18.8 million.