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Supplemental Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Supplementary Quarterly Financial Data (Unaudited)
Supplemental Quarterly Financial Data (Unaudited)
 
 
(In thousands, except per share amounts)
 
 
Three Months Ended
2018
 
Three Months Ended
2017
 
 
Dec 31
 
Sep 29
 
Jun 30
 
Mar 31
 
Dec 31
 
Sep 30
 
Jul 1
 
Apr 1
Net Revenues
 
$
164,183

 
$
159,842

 
$
154,827

 
$
150,455

 
$
142,258

 
$
138,690

 
$
140,938

 
$
136,297

Gross Profit
 
32,697

 
31,116

 
32,028

 
26,755

 
25,772

 
26,087

 
26,269

 
25,005

Income (Loss) Before Taxes
 
1,791

 
4,290

 
1,833

 
2,357

 
(5,057
)
 
5,595

 
4,564

 
2,507

Income Tax Expense (Benefit)
 
1,118

 
119

 
242

 
(243
)
 
(14,541
)
 
940

 
741

 
392

Net Income
 
$
673

 
$
4,171

 
$
1,591

 
$
2,600

 
$
9,484

 
$
4,655

 
$
3,823

 
$
2,115

Earnings Per Share
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic earnings per share
 
$
0.06

 
$
0.37

 
$
0.14

 
$
0.23

 
$
0.84

 
$
0.41

 
$
0.34

 
$
0.19

Diluted earnings per share
 
$
0.06

 
$
0.36

 
$
0.14

 
$
0.22

 
$
0.82

 
$
0.41

 
$
0.33

 
$
0.18


In the fourth quarter of 2018, we recorded restructuring charges of $3.8 million as part of a restructuring plan that commenced during the fourth quarter of 2017. See Note 4.
In the third quarter of 2018, we recorded restructuring charges of $3.4 million as part of a restructuring plan that commenced during the fourth quarter of 2017. See Note 4.
In the second quarter of 2018, we acquired 100.0% of the outstanding equity interests of CTP and CTP’s results of operations have been included in our consolidated statements of operations since the date of acquisition as part of the Structural Systems segment. See Note 3. In addition, we recorded restructuring charges of $5.4 million as part of a restructuring plan that commenced during the fourth quarter of 2017. See Note 4.
In the first quarter of 2018, we recorded restructuring charges of $2.2 million as part of a restructuring plan that commenced during the fourth quarter of 2017. See Note 4.
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 15. In addition, we commenced a restructuring plan (“2017 Restructuring Plan”) and recorded restructuring charges of $8.8 million (with $0.5 million recorded as costs of sales). See Note 4.
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 3.