Note 18 - Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 27, 2014

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information [Text Block]

18. Selected Quarterly Financial Data (Unaudited)

The quarterly periods listed in the table below for 2014 are for the 13-weeks ending December 27, 2014, September 27, 2014, June 28, 2014 and March 29, 2014 respectively. The quarterly periods for 2013 are for the 13-weeks ending December 28, 2013, September 28, 2013, June 29, 2013 and March 30, 2013, respectively.

(In thousands, except per share data)

	2014								2013
	4Qa		3Qb		2Qc		1Qd		4Qe		3Qf		2Qg		1Qh
Net sales	$	206,620	$	217,608	$	220,908	$	206,859	$	198,129	$	201,040	$	187,766	$	170,918
Gross profit		75,559		87,380		82,995		78,494		77,109		80,960		73,557		64,606
Operating income		26,391		40,130		33,719		33,590		32,823		37,559		31,382		28,117
Net income (as previously reported)		19,511		29,940		24,578		25,389		23,658		26,990		26,648		14,794
Tax adjustment(d)		—		—		—		—		—		—		—		(3,306	)
Net income (Q1 2013 as restated)		19,511		29,940		24,578		25,389		23,658		26,990		26,648		11,488
Net income per share (as reported):
Basic	$	0.86	$	1.33	$	1.09	$	1.13	$	1.05	$	1.20	$	1.19	$	0.67
Diluted	$	0.86	$	1.32	$	1.08	$	1.12	$	1.04	$	1.19	$	1.18	$	0.66
Impact of tax adjustment:
Basic	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	(0.15	)
Diluted	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	(0.15	)
Net income per share (Q1 2013 as restated):
Basic	$	0.86	$	1.33	$	1.09	$	1.13	$	1.05	$	1.20	$	1.19	$	0.52
Diluted	$	0.86	$	1.32	$	1.08	$	1.12	$	1.04	$	1.19	$	1.18	$	0.51

a – In the fourth quarter of 2014, the company recorded $2.2 million in charges related to severance and to the company’s reorganization of its internal legal structure to enable the up-streaming of cash to the U.S. The company also recorded $0.3 million in acquisition costs and $0.3 million in impairment costs.

b – In the third quarter of 2014, the company recorded $1.1 million in charges related to the company’s reorganization of its internal legal structure, as noted above.

c – In the second quarter of 2014, the company recorded a $1.4 million non-cash charge related to the step-up of inventory from the SymCom acquisition (See Note 2), $2.0 million in severance charges and $0.2 million in acquisition costs.

d – In the first quarter of 2014, the company recorded a $1.4 million non-cash charge related to the step-up of inventory from the SymCom acquisition (See Note 2).

e – In the fourth quarter of 2013, the company recorded a $2.8 million charge to income tax expense related to the company’s impairment of its investment in Shocking Technologies in the fourth quarter of 2012 (See Note 6). The company also recorded a $0.5 million non-cash credit related to the step-up of inventory from the Hamlin acquisition (See Note 2) and $0.2 million in acquisition expenses for the Hamlin acquisition.

f – In the third quarter of 2013, the company recorded a $0.3 million non-cash charge related to the step-up of inventory from the Hamlin acquisition (See Note 2). The company also recorded $0.3 million in acquisition charges related to the Hamlin acquisition.

g – In the second quarter of 2013, the company recorded a $1.7 million non-cash charge related to the step-up of inventory from the Hamlin acquisition (See Note 2). The company also recorded $1.2 million in acquisition charges related to the Hamlin acquisition.

h – In the first quarter of 2013, the company recorded a $10.7 million charge related to the impairment of Shocking Technologies. Additionally, the company restated net income for a $3.3 million charge to income tax expense related to the company’s investment in Shocking Technologies (See Note 6).