Quarterly Financial Data

12 Months Ended

Dec. 31, 2011

Quarterly Financial Data [Abstract]

Quarterly Financial Data

19. Quarterly Financial Data (unaudited)

(in millions except per share amounts)
2011	1st	2nd	3rd	4th
Net sales	$206.8	$198.6	$206.7	$202.6
Gross profit	88.9	78.7	81.3	80.1
Net income	16.7	8.8	16.7	(7.2)
Basic earnings per share	0.54	0.28	0.53	(0.23)
Diluted earnings per share	0.53	0.28	0.53	(0.23)
Cash dividends per share	0.12	0.13	0.13	0.13
Class A Common Stock prices:
High	25.09	27.90	27.68	25.70
Low	21.84	23.54	17.82	17.24
2010
Net sales	$180.1	$193.7	$192.2	$199.8
Gross profit	65.5	74.1	74.6	80.6
Net income	5.6	7.9	3.6	20.5
Basic earnings per share	0.18	0.25	0.12	0.66
Diluted earnings per share	0.18	0.25	0.12	0.66
Cash dividends per share	0.12	0.12	0.12	0.12
Class A Common Stock prices:
High	23.27	25.73	20.89	25.62
Low	18.32	16.00	15.06	18.68
2009
Net sales	$174.9	$182.1	$186.7	$194.0
Gross profit	60.0	59.6	64.5	69.2
Net (loss)/income	(19.4)	(12.7)	(5.1)	3.7
Basic (losses)/earnings per share	(0.64)	(0.41)	(0.17)	0.12
Diluted (losses)/earnings per share	(0.64)	(0.41)	(0.17)	0.12
Cash dividends per share	0.12	0.12	0.12	0.12
Class A Common Stock prices:
High	13.72	14.69	20.53	22.87
Low	5.05	7.95	10.05	16.39

In 2011, restructuring charges reduced earnings per share by $0.00 in the first quarter, $0.04 in the second quarter, $0.06 in the third quarter, and $0.10 in the fourth quarter.

Income tax expense in the fourth quarter of 2011 includes a favorable adjustment of $0.11 per share to correct errors from periods prior to 2006. The Company does not believe that the corrected item is or was material to any previously reported quarterly or annual financial statements. As a result, the Company has not restated its previously issued annual or quarterly financial statements.

In 2010, restructuring charges reduced earnings per share by $0.04 in the first quarter, $0.01 in the second quarter, $0.04 in the third quarter, and $0.03 in the fourth quarter.

In 2009, restructuring charges reduced earnings per share by $0.57 in the first quarter, $1.05 in the second quarter, and $0.62 in the third quarter, and $0.02 in the fourth quarter.

In 2009, gains on extinguishment of debt increased earnings per share by $0.06 in the first quarter, $0.73 in the second quarter, $0.16 in the third quarter, and $0.09 in the fourth quarter.

In the second quarter of 2009, basic earnings per share were reduced by $0.33 as a result of a purchase price adjustment on the sale of the Company's Filtration Technologies business.

The Company's Class A Common Stock is traded principally on the New York Stock Exchange. As of December 31, 2011, there were approximately 6,600 beneficial owners of the Company's common stock, including employees owning shares through the Company's 401(k) defined contribution plan.