Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

15) Quarterly Results of Operations (Unaudited)

The following summarizes the unaudited quarterly results of operations for the years ended December 31, 2013 and 2012.

	Year ended December 31, 2013
	March 31		June 30		Sept. 30		Dec. 31
Net sales	$	93,797	$	96,305	$	93,023	$	90,081
Income from operations		5,639		7,920		7,794		6,474
Net income		2,871		4,770		5,052		4,485
Basic net income per share		0.17		0.28		0.29		0.25
Diluted net income per share		0.17		0.28		0.29		0.25
Weighted average shares outstanding:
Basic number of shares		17,055		17,136		17,302		17,527
Effect of dilutive stock options		107		36		148		290
Diluted number of shares		17,162		17,172		17,450		17,817

	Year ended December 31, 2012
	March 31		June 30		Sept. 30		Dec. 31
Net sales	$	104,519	$	98,824	$	86,586	$	80,155
Income from operations		9,033		8,275		5,917		1,846
Net income		5,909		7,038		3,115		8,206
Basic net income per share		0.35		0.41		0.18		0.48
Diluted net income per share		0.35		0.41		0.18		0.48
Weighted average shares outstanding:
Basic number of shares		16,961		17,026		17,044		17,044
Effect of dilutive stock options		114		113		106		106
Diluted number of shares		17,075		17,139		17,150		17,150

The first quarter of 2013 was unfavorably impacted by $350 of after tax foreign exchange losses on intercompany loans and by $399 in after tax restructuring and non-operating items.

The first quarter of 2012 was unfavorably impacted by $734 of after tax foreign exchange losses on intercompany loans. The second quarter of 2012 was favorably impacted by $1,109 of after tax foreign exchange gains on intercompany loans. The third quarter of 2012 was unfavorably impacted by $659 of after tax foreign exchange gains on intercompany loans.

The fourth quarter of 2012 was impacted by favorable tax expense adjustments netting to $7,257 related to removing U.S. deferred tax valuation allowances applied to all U.S. deferred tax assets, partially offset by taxes related to an international distribution and increases in our uncertain tax positions. Additionally, the fourth quarter was unfavorably impacted by $967 in impairment charges related to our former Kilkenny Plant and $826 of after tax foreign exchange losses on intercompany loans.