Quarterly Financial Data

12 Months Ended

Dec. 31, 2015

20. Quarterly Financial Data (unaudited)

(in millions, except per share amounts)
2015	1st	2nd		3rd	4th
Net sales	$181.3	$172.3		$178.8	$177.5
Gross profit	76.7	54.6		75.7	71.7
Net income/(loss) attributable to the Company	12.2	(2.2	)	9.7	37.6
Basic earnings per share	0.38	(0.07	)	0.30	1.18
Diluted earnings per share	0.38	(0.07	)	0.30	1.18
Cash dividends per share	0.16	0.17		0.17	0.17
Class A Common Stock prices:
High	40.31	41.15		40.21	39.25
Low	34.13	39.15		28.28	28.19

	1st	2nd		3rd	4th
2014
Net sales	$180.3	$193.5		$179.9	$191.6
Gross profit	74.8	75.3		68.6	72.9
Net income attributable to the Company	10.6	11.2		11.8	8.0
Basic earnings per share	0.33	0.35		0.37	0.26
Diluted earnings per share	0.33	0.35		0.37	0.25
Cash dividends per share	0.15	0.16		0.16	0.16
Class A Common Stock prices:
High	37.59	38.01		38.53	38.15
Low	32.85	33.67		34.04	32.46

2013
Net sales	$186.7	$198.0		$183.1	$189.6
Gross profit	72.8	77.4		68.0	72.4
Net income attributable to the Company	11.5	(7.4)		4.7	8.7
Basic earnings per share	0.36	(0.23)		0.15	0.27
Diluted earnings per share	0.36	(0.23)		0.15	0.27
Cash dividends per share	0.14	0.15		0.15	0.15
Class A Common Stock prices:
High	29.87	33.90		36.53	37.25
Low	23.21	27.48		32.27	33.81

In 2015, restructuring charges reduced earnings per share by $0.18 in the first quarter, $0.02 in the second quarter, $0.07 in the third quarter, and $0.21 in the fourth quarter.

In 2015, discrete income tax adjustments, increased/(decreased) earnings per share by: $(0.01) in the first quarter, $0.00 in the second quarter, ($0.15) in the third quarter, and $0.85 in the fourth quarter. The amount recognized in the fourth quarter was principally due to a worthless stock deduction for the Company's investment in its German subsidiary.

In 2015, we recognized a gain related to the sale of investment, $0.02 per share in the first quarter.

In 2014, restructuring charges reduced earnings per share by $0.02 in the first quarter, $0.04 in the second quarter, $0.02 in the third quarter, and $0.04 in the fourth quarter.

In 2014, we recognized a gain related to the insurance recovery due to damage to a Machine Clothing manufacturing facility, $0.03 per share in the second quarter and $0.01 per share in the third quarter.

In 2014, earnings per share included a pension plan settlement charge of $0.16 per share in the fourth quarter.

In 2013, restructuring charges reduced earnings per share by $0.01 in the first quarter, $0.47 in the second quarter, $0.04 in the third quarter, and increased earnings per share by $0.03 in the fourth quarter.

In the first quarter of 2013, we recognized a gain of $0.08 per share related to the sale of a former manufacturing facility.

The Company's Class A Common Stock is traded principally on the New York Stock Exchange. As of December 31, 2015, there were approximately 7,500 beneficial owners of the Company's common stock, including employees owning shares through the Company's 401(k) defined contribution plan.