Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2011

Notes to Financial Statements

Quarterly Financial Information (Unaudited)

15. Quarterly Financial Information (Unaudited)

	First Quarter			Second Quarter			Third Quarter		Fourth Quarter
	(In thousands, except per share amounts)
2011
Net sales	$	53,873		$	51,241		$	52,524	$	51,095
Gross profit		13,106			11,559			12,359		11,718
Net income (loss)
Continuing operations		485			(519	)		83		(1,703	)
Discontinued operation		–			–			–		–
Net income (loss) attributable to controlling interest		485			(519	)		83		(1,703	)
Net income (loss) attributable to controlling interest per share:
Basic
Continuing operations	$	0.14		$	(0.15	)	$	0.02	$	(0.49	)
Discontinued operation		–			–			–		–
	$	0.14		$	(0.15	)	$	0.02	$	(0.49	)
Diluted
Continuing operations	$	0.14		$	(0.15	)	$	0.02	$	(0.49	)
Discontinued operation		–			–			–		–
	$	0.14		$	(0.15	)	$	0.02	$	(0.49	)
2010
Net sales	$	46,631		$	50,160		$	53,758	$	51,079
Gross profit		12,532			13,422			14,036		12,729
Net (loss) income
Continuing operations		(648	)		606			2,043		2,230
Discontinued operation		(78	)		(549	)		53,565		–
Net (loss) income attributable to controlling interest		(726	)		57			55,608		2,230
Net (loss) income attributable to controlling interest per share:
Basic
Continuing operations	$	(0.19	)	$	0.18		$	0.59	$	0.65
Discontinued operation		(0.02	)		(0.16	)		15.57		–
	$	(0.21	)	$	0.02		$	16.16	$	0.65
Diluted
Continuing operations	$	(0.19	)	$	0.18		$	0.59	$	0.65
Discontinued operation		(0.02	)		(0.16	)		15.54		–
	$	(0.21	)	$	0.02		$	16.13	$	0.65

The deconsolidation of Congoleum in July 2010 resulted in the elimination from American Biltrite’s consolidated stockholders’ equity of the accumulated deficit attributed to Congoleum, $37.1 million of which was recorded against accumulated other comprehensive income for prior period pension adjustments and $53.6 million was recorded as a gain from deconsolidation in net income of discontinued operation.