Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

QUARTERLY FINANCIAL DATA (Unaudited)

Summarized quarterly financial data for 2013 and 2012 is presented below. Seasonal influences affect the Company’s sales and profits, with peak business occurring in May through August.

(in thousands, except per share amounts)

	2013								2012
	First		Second		Third		Fourth		First		Second		Third		Fourth
Sales	$	158,429	$	178,064	$	174,738	$	165,605	$	155,911	$	167,009	$	156,078	$	149,404
Gross profit	34,912		44,091		43,156		36,351		35,238		39,161		37,070		32,043
Net income	6,950		11,787		11,333		6,024		6,785		9,344		8,575		4,199
Earnings per share
Diluted	$	0.57	$	0.97	$	0.93	$	0.49	$	0.56	$	0.77	$	0.71	$	0.35
Average shares
Diluted	12,158		12,200		12,229		12,262		12,027		12,058		12,056		12,090
Dividends per share	$	0.07	0.07		$	0.07	$	0.07	$	0.06	$	0.06	$	0.06	$	0.06
Market price of     common stock
High	$	40.64	$	44.13	$	49.45	$	61.27	$	30.93	$	34.23	$	34.00	$	34.63
Low	$	33.12	$	37.39	$	40.48	$	45.51	$	25.51	$	29.40	$	27.07	$	29.66

The sum of quarterly earnings per share may not equal total year earnings per share due to rounding of earnings per share amounts, and differences in weighted-average shares and equivalent shares outstanding for each of the periods presented.

The fourth quarter 2013 results includes $1.8 million in pretax legal expenses related to the patent infringement lawsuit filed against the Company.

The fourth quarter 2012 results include the following items: (1) a pretax charge of $0.7 million related to goodwill impairment; (2) a $2.4 million charge relating to various litigation matters;and (3) a $1.2 million reversal of an environmental reserve at our Gradall facility.