Quarterly Financial Information [Text Block] |
Note 12. Quarterly Financial Data (unaudited) (in thousands, except per share data)
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| | $ | 130,581 | | | $ | 131,807 | | | $ | 144,037 | | | $ | 156,578 | | | $ | 563,003 | |
| | | 43,236 | | | | 43,664 | | | | 47,355 | | | | 54,207 | | | | 188,462 | |
| | $ | 18,843 | | | $ | 7,467 | | | $ | 22,167 | | | $ | 27,609 | | | $ | 76,086 | | | | | | | | | | | | | | | | | | | | | | | Earnings per common share: (1)
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| | $ | 0.51 | | | $ | 0.20 | | | $ | 0.59 | | | $ | 0.74 | | | $ | 2.04 | |
| | $ | 0.50 | | | $ | 0.20 | | | $ | 0.59 | | | $ | 0.74 | | | $ | 2.03 | | | | | | | | | | | | | | | | | | | | | | | Weighted average common shares outstanding:
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| | | 37,281 | | | | 37,308 | | | | 37,320 | | | | 37,344 | | | | 37,313 | |
| | | 37,473 | | | | 37,478 | | | | 37,494 | | | | 37,546 | | | | 37,500 | | (in thousands, except per share data)
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| | $ | 112,381 | | | $ | 120,907 | | | $ | 130,973 | | | $ | 134,762 | | | $ | 499,023 | |
| | | 36,990 | | | | 39,320 | | | | 40,984 | | | | 45,070 | | | | 162,364 | |
| | $ | 22,707 | | | $ | 25,851 | | | $ | 30,291 | | | $ | 25,626 | | | $ | 104,476 | | | | | | | | | | | | | | | | | | | | | | | Earnings per common share:
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| | $ | 0.61 | | | $ | 0.70 | | | $ | 0.81 | | | $ | 0.69 | | | $ | 2.81 | |
| | $ | 0.61 | | | $ | 0.69 | | | $ | 0.81 | | | $ | 0.69 | | | $ | 2.80 | | | | | | | | | | | | | | | | | | | | | | | Weighted average common shares outstanding:
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| | | 37,169 | | | | 37,189 | | | | 37,196 | | | | 37,224 | | | | 37,194 | |
| | | 37,315 | | | | 37,301 | | | | 37,299 | | | | 37,384 | | | | 37,326 | | |
| During the fourth quarter, management identified certain errors related to purchase accounting items for the ACD acquisition recorded during the first quarter of fiscal year 2017. These errors were corrected by adjusting previously reported amounts in the first, second and third quarter of fiscal year 2017. These items impact the cost recognized upon the sale of acquired inventory, other acquisition related costs recorded within selling, general and administrative costs, interest expense, and income taxes and resulted in a favorable impact as compared to previously reported results and as outlined in the table below.
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| | $ | (2,875 | ) | | $ | (3,061 | ) | | $ | (2,499 | ) | Selling, general and administrative
| | | (839 | ) | | | 1,326 | | | | 1,302 | |
| | | 57 | | | | 86 | | | | 86 | |
| | | 1,097 | | | | 495 | | | | 333 | |
| | | 2,560 | | | | 1,154 | | | | 778 | | We concluded that these errors were not material to each of the respective periods; however, we have elected to report the corrected amount for the fourth quarter. The amounts recorded in this table for the previously reported 2017 quarterly information have been revised for these updates. We will revise the fiscal year 2017 quarterly reported information in future filings to reflect the properly stated amounts. These identified items have no impact to year to date GAAP results.
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