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Note 18 - Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2011

Quarterly Financial Information [Text Block]

18. Selected Quarterly Financial Data (Unaudited)

The quarterly periods listed in the table below for 2011 are for the 13-weeks ending December 31, 2011, October 1, 2011, July 2, 2011 and April 2, 2011, respectively. The quarterly periods for 2010 are for the 13-weeks ending January 1, 2011, October 2, 2010, July 3, 2010 and April 3, 2010, respectively.

(In thousands, except per share data)

	2011								2010
	4Qa		3Qb			2Q	1Qc			4Q	3Qd			2Q		1Q
Net sales	$	147,193	$	173,987	$	176,615	$	167,160	$	142,646	$	163,465	$	157,508	$	144,402
Gross profit		53,526		68,471		69,994		64,703		53,956		67,253		59,383		53,280
Operating income		18,121		29,574		35,291		30,918		24,316		34,108		27,507		21,643
Net income		15,238		24,939		25,269		21,578		19,578		23,338		20,278		15,469
Net income per share:
Basic	$	0.71	$	1.13	$	1.13	$	0.98	$	0.89	$	1.06	$	0.91	$	0.70
Diluted	$	0.70	$	1.12	$	1.11	$	0.96	$	0.88	$	1.04	$	0.90	$	0.69

a – In the fourth quarter of 2011, the company recorded $0.5 million of non-cash charges related to the step-up of inventory from the Selco A/S acquisition. (See Note 2). The company also recorded a $1.7 million decrease to income tax expense related to a deferred tax asset write-up due to an increase in the statutory rate in China.

b – In the third quarter of 2011, the company recorded a $2.3 million charge related to asset impairments in Europe.

c – In the first quarter of 2011, the company recorded $3.7 million of non-cash charges related to the step-up of inventory from the Cole Hersee acquisition. (See Note 2).

d – In the third quarter of 2010, the company recorded a $3.0 million charge related to asset impairments in the U.S. and Europe.

- Definition

This element can be used to disclose the entire quarterly financial data disclosure in the annual financial statements as a single block of text. The disclosure includes a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. Alternatively, the details of this disclosure can be reported using the elements in this group, or by using other taxonomy elements and applying the appropriate quarterly date and period contexts when creating an instance document. For example, the element for "Interest and Dividend Income, Operating" may be used by financial institutions from the Statement of Income, applying the appropriate quarterly date and period context when creating an instance document.

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