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Summarized Quarterly Results of Operations (Tables)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information

Quarter Ended 2016

 

March-31

 

 

June-30

 

 

September-30

 

 

December-31

 

 

Total

 

Net Sales

 

$

151,205

 

 

$

144,117

 

 

$

132,676

 

 

$

130,064

 

 

$

558,062

 

Gross Profit

 

 

48,171

 

 

 

44,536

 

 

 

35,918

 

 

 

36,015

 

 

 

164,640

 

Income (loss) from continuing operations(1) (2)

 

 

(3,336

)

 

 

5,684

 

 

 

424

 

 

 

(1,247

)

 

 

1,525

 

Income (loss) from discontinued operations, net

 

 

(57

)

 

 

(190

)

 

 

(10

)

 

 

(211

)

 

 

(468

)

Net income (loss)(1)(2)

 

 

(3,393

)

 

 

5,494

 

 

 

414

 

 

 

(1,458

)

 

 

1,057

 

Income (loss) per common share from continuing operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic*

 

$

(0.11

)

 

$

0.19

 

 

$

0.01

 

 

$

(0.04

)

 

$

0.05

 

Diluted*

 

$

(0.11

)

 

$

0.19

 

 

$

0.01

 

 

$

(0.04

)

 

$

0.05

 

Income (loss) per common share from discontinued operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic*

 

$

(0.00

)

 

$

(0.01

)

 

$

(0.00

)

 

$

(0.01

)

 

$

(0.02

)

Diluted*

 

$

(0.00

)

 

$

(0.01

)

 

$

(0.00

)

 

$

(0.01

)

 

$

(0.02

)

Net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic*

 

$

(0.11

)

 

$

0.19

 

 

$

0.01

 

 

$

(0.05

)

 

$

0.03

 

Diluted*

 

$

(0.11

)

 

$

0.18

 

 

$

0.01

 

 

$

(0.05

)

 

$

0.03

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended 2015

 

March-31

 

 

June-30

 

 

September-30

 

 

December-31

 

 

Total

 

Net Sales

 

$

156,348

 

 

$

164,335

 

 

$

141,661

 

 

$

139,194

 

 

$

601,538

 

Gross Profit

 

 

45,757

 

 

 

50,581

 

 

 

41,686

 

 

 

40,254

 

 

 

178,278

 

Income (loss) from continuing operations(3)

 

 

2,622

 

 

 

10,925

 

 

 

631

 

 

 

(125

)

 

 

14,053

 

Income (loss) from discontinued operations, net(4)

 

 

2,617

 

 

 

494

 

 

 

(298

)

 

 

896

 

 

 

3,709

 

Net income(3)(4)

 

 

5,239

 

 

 

11,419

 

 

 

333

 

 

 

771

 

 

 

17,762

 

Income (loss) per common share from continuing

   operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic*

 

$

0.08

 

 

$

0.35

 

 

$

0.02

 

 

$

—

 

 

$

0.46

 

Diluted*

 

$

0.08

 

 

$

0.35

 

 

$

0.02

 

 

$

—

 

 

$

0.45

 

Income (loss) per common share from discontinued

   operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic*

 

$

0.08

 

 

$

0.02

 

 

$

(0.01

)

 

$

0.03

 

 

$

0.12

 

Diluted*

 

$

0.08

 

 

$

0.02

 

 

$

(0.01

)

 

$

0.03

 

 

$

0.12

 

Net income per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic*

 

$

0.16

 

 

$

0.37

 

 

$

0.01

 

 

$

0.03

 

 

$

0.58

 

Diluted*

 

$

0.16

 

 

$

0.37

 

 

$

0.01

 

 

$

0.03

 

 

$

0.57

 

 

(1)

During the quarter ended March 31, 2016, the Company concluded that the goodwill, intangibles and other long-lived assets related to Novel were impaired and recorded an impairment charge of $8.5 million.

(2)

During the quarter ended June 30, 2016, the Company recorded impairment charges of $1.3 million primarily related to long-lived assets associated with the exit of a non-strategic product line in the Material Handling Segment.  

(3)

During the quarter ended September 30, 2015, the Company recorded an out of period adjustment of $1.1 million ($0.7 million after tax) related to stock compensation expense.

(4)

A gain on the sale of the Lawn and Garden business of $3.8 million was recognized during the first quarter of 2015 and an additional gain of $0.9 million was recognized in the fourth quarter of 2015. These gains are included in income from discontinued operations in the accompanying Consolidated Statements of Operations.

 

*

The sum of the earnings per share for the four quarters in a year does not necessarily equal the total year earnings per share due to the computation of weighted shares outstanding during the period.