Acquisition of the New Business (Tables)

6 Months Ended

Jun. 30, 2017

Acquisition of the New Business

Schedule of preliminary purchase price allocation

Assets
Cash and cash equivalents	$	3,826
Receivables		10,077
Inventories		20,439
Other current assets		1,215
Property, plant, and equipment		67,697
Intangibles		37,248
Goodwill		45,410
Other assets		188
Total assets	$	186,100
Liabilities
Accounts payable and accrued liabilities	$	6,151
Payroll and benefits payable		3,315
Accrued income taxes		581
Deferred income taxes - long term		6,188
Accrued pension and other liabilities		11,207
Total liabilities	$	27,442
Net assets	$	158,658
Cash paid for acquisition		158,658
Cash acquired		(3,826)
Net cash paid for acquisition	$	154,832

Schedule of unaudited pro forma results of operations including acquisition

	Three Months Ended June 30,				Six Months Ended June 30,
	2017		2016		2017		2016
Net sales	$	152,998	$	158,640	$	295,701	$	304,882
Net income		5,864		11,811		8,326		15,340
Net income per common share
Basic	$	0.12	$	0.24	$	0.17	$	0.31
Diluted	$	0.12	$	0.23	$	0.16	$	0.30