Quarterly Financial Information

12 Months Ended

Dec. 31, 2011

Quarterly Financial Information [Abstract]

Quarterly Financial Information

19. Quarterly Financial Information (Unaudited)

The following is an analysis of certain items in the consolidated statements of operations by quarter for 2011 and 2010:

(in millions of dollars, except per share data)	1st Quarter			2nd Quarter		3rd Quarter			4th Quarter
2011
Net sales	$	298.4		$	330.2	$	339.1		$	350.7
Gross profit		89.2			105.5		107.1			112.9
Operating income		13.3			30.6		35.4			35.9
Income (loss) from continuing operations		(9.0	)		6.3		11.9			9.4
Income (loss) from discontinued operations		0.9			37.4		(0.2	)		—
Net income (loss)	$	(8.1	)	$	43.7	$	11.7		$	9.4
Basic earnings per common share:
Income (loss) from continuing operations	$	(0.16	)	$	0.11	$	0.22		$	0.17
Income (loss) from discontinued operations		0.02			0.68		—			—
Net income (loss)		(0.15	)		0.79		0.21			0.17
Diluted earnings per common share:
Income (loss) from continuing operations	$	(0.16	)	$	0.11	$	0.21		$	0.16
Income (loss) from discontinued operations		0.02			0.64		—			—
Net income (loss)		(0.15	)		0.75		0.20			0.16
Balance sheet data:
Pension and post-retirement benefit obligations (1)		68.1			64.9		63.2			106.1
2010
Net sales	$	300.5		$	305.2	$	319.4		$	359.5
Gross profit		91.0			94.5		97.8			113.8
Operating income		20.5			25.0		30.0			34.2
Income (loss) from continuing operations		(5.2	)		4.3		4.4			4.3
Income from discontinued operations		0.5			0.6		1.0			2.5
Net income (loss)	$	(4.7	)	$	4.9	$	5.4		$	6.8
Basic earnings per common share:
Income (loss) from continuing operations	$	(0.10	)	$	0.08	$	0.08		$	0.08
Income from discontinued operations		0.01			0.01		0.02			0.05
Net income (loss)		(0.09	)		0.09		0.10			0.12
Diluted earnings per common share:
Income (loss) from continuing operations	$	(0.10	)	$	0.08	$	0.08		$	0.07
Income from discontinued operations		0.01			0.01		0.02			0.04
Net income (loss)		(0.09	)		0.09		0.09			0.12
Balance sheet data:
Pension and post-retirement benefit obligations		83.7			81.5		82.3			74.9

(1) The fourth quarter of 2011 increase in pension and post-retirement benefit obligations was due to both the lower discount rates and the lower than expected return on the assets of the pension plans, and as a result the Company recorded $46.3 million of these actuarial losses in association with the annual actuarial evaluations to reflect the fair value of the obligations. This adjustment was offset to other comprehensive loss on the Company's balance sheet. For further information see Note 4, Pension and Other Retiree Benefits and Note 14, Accumulated Other Comprehensive Income (Loss).