676000 486000 23.97 23.81 3.5 3 0.5 1 2026 2015 50000000 50000000 39227000 16953000 -3556000 7000 7010000 8766000 13300000 0.31 0.31 114000 47000 110000 114000 10.97 419000 603000 1.31 36320 9725 8628500 200000 1 1 0.882 2500000 0.118 9 0.15 36 28 8 4100000 -3832000 -3866000 1.03 -60559000 -2213000  <div> <div> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; WIDTH: 68%; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; WIDTH: 16%; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; WIDTH: 16%; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid" nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center" nowrap="nowrap">March 31,</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center" nowrap="nowrap">December 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">(in thousands)</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center" nowrap="nowrap">2012</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center" nowrap="nowrap">2011</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Assets of Discontinued Operations:</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Cash</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">  $                 -</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap"> $       13,545</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Accounts receivable, net of allowance for doubtful accounts</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">             1,197</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">           35,120</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Inventories</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">             1,309</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">           12,661</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Property, plant and equipment, net</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">                279</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">             6,344</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Goodwill and intangibles</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">                    -</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">           39,227</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Other current and noncurrent assets</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">                  90</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">             5,114</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Total assets of discontinued operation</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">  $          2,875</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap"> $      112,011</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Liabilities of Discontinued Operations:</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Accounts payable</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">  $          2,638</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">  $         8,300</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Accrued liabilities</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">                    -</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">           10,883</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Other current liabilities</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">                  37</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">             1,763</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Liabilities for defined benefit pension plans</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">                    -</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">             9,513</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Other noncurrent liabilities</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">                    -</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">             4,552</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Total liabilities of discontinued operation</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">  $          2,675</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap"> $       35,011</td> </tr> </table> </div> </div>  <div> <div> <table style="WIDTH: 70%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="5" nowrap="nowrap">Three Months Ended</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td style="TEXT-ALIGN: center" colspan="5">March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> 2012</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 2011</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold"> Restructuring expense</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 68%">  Machine Clothing</td> <td style="WIDTH: 9%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; WIDTH: 9%; FONT-WEIGHT: bold"> $673</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold">  </td> <td style="WIDTH: 3%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 9%">$33</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Engineered Composites</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">-</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">13</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt">  Unallocated</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> (415</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (12</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">  Consolidated total</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $258</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $34</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> </table> </div> </div>  <div> <div> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Modifications to segment reporting</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap">Reclassify ADS</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap">Q1 2011</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap">Net sales</td> <td nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap">As reported</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap">to discontinued</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap">Merger of PMC</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap">reported in</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 40%; VERTICAL-ALIGN: bottom" nowrap="nowrap">(000's)</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 3%" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle; WIDTH: 11%" nowrap="nowrap"> Q1 2011</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 1%; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 3%; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle; WIDTH: 11%" nowrap="nowrap"> operations</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 1%; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 3%; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle; WIDTH: 11%" nowrap="nowrap"> PMC and EF</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 1%; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 3%; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle; WIDTH: 11%" nowrap="nowrap"> 2012 format</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 1%; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> PMC</td> <td> </td> <td style="TEXT-ALIGN: right">167,896</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(167,896</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right">-  </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Machine Clothing</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">188,482</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">188,482</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Doors</td> <td> </td> <td style="TEXT-ALIGN: right">45,128</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(45,128</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">-  </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> EF</td> <td> </td> <td style="TEXT-ALIGN: right">20,586</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(20,586</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right">-  </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Composites</td> <td> </td> <td style="TEXT-ALIGN: right">11,472</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">11,472</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left; VERTICAL-ALIGN: bottom"> PrimaLoft® Products</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 6,768</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 6,768</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Total</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 251,850</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (45,128</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 206,722</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom">  </td> <td> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> Reclassify ADS</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> Q1 2011</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Gross profit</td> <td> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> As reported</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> to discontinued</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> Merger of PMC</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> reported in</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> (000's)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  Q1 2011</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  operations</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  PMC and EF</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  2012 format</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> PMC</td> <td> </td> <td style="TEXT-ALIGN: right">78,320</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(78,320</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right">-  </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Machine Clothing</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">86,537</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">86,537</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Doors</td> <td> </td> <td style="TEXT-ALIGN: right">16,148</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(16,148</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">-  </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> EF</td> <td> </td> <td style="TEXT-ALIGN: right">8,217</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(8,217</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right">-  </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Composites</td> <td> </td> <td style="TEXT-ALIGN: right">(19</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(19</td> <td style="TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left; VERTICAL-ALIGN: bottom"> PrimaLoft® Products</td> <td> </td> <td style="TEXT-ALIGN: right">3,657</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">3,657</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Non Segment</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (1,330</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (1,330</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Total</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 104,993</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (16,148</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 88,845</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom">  </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom">  </td> <td> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> Reclassify ADS</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> Q1 2011</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Operating income</td> <td> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> As reported</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> to discontinued</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> Merger of PMC</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> reported in</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> (000's)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  Q1 2011</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  operations</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  PMC and EF</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  2012 format</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> PMC</td> <td> </td> <td style="TEXT-ALIGN: right">46,230</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(46,230</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right">-  </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Machine Clothing</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">50,271</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">50,271</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Doors</td> <td> </td> <td style="TEXT-ALIGN: right">5,371</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(5,371</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">-  </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> EF</td> <td> </td> <td style="TEXT-ALIGN: right">4,041</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(4,041</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right">-  </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Composites</td> <td> </td> <td style="TEXT-ALIGN: right">(1,043</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(1,043</td> <td style="TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left; VERTICAL-ALIGN: bottom"> PrimaLoft® Products</td> <td> </td> <td style="TEXT-ALIGN: right">1,911</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">1,911</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Research</td> <td> </td> <td style="TEXT-ALIGN: right">(7,165</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(7,165</td> <td style="TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Non Segment</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (17,438</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 445</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (16,993</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Total</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 31,907</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (4,926</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 26,981</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> </table> </div> </div> 176000000 12939000 14354000 15135000 -781000 43.39 49.83 false --12-31 Q1 2012 2012-03-31 10-Q 0000819793 28100000 3200000 Large Accelerated Filer ALBANY INTERNATIONAL CORP /DE/ 105000000 105000000

37732000

33663000

152126000

148849000

5000

17400000

104989000

105649000

-2804000

-2594000

110480000

118104000

-6244000

-19111000

391611000

391495000

1786000

2177000

405000

196000

1147658000

1230928000

471134000

506933000

2875000

112011000

2596000

62107000

279000

50783000

635000

577000

635000

577000

140925000

118909000

137518000

117925000

38555000

30287000

38555000

30287000

22016000

15217000

52.25

0.13

0.12

0.001

25000000

100000000

36585004

36540842

36505292

3236098

31341615

31297453

31256862

3236098

40000

37000

3000

67322000

43937000

116719000

117877000

146857000

-28980000

0.0225

2013-03-15

28400000

25500000

43.39

23.0467

Feb. 15, 2013

180000000

28437000

150000000

0.0407

0.0361

0.0306

0.0305

0.0429

0.0225

0.0684

2017-10-25

2017

2021

2013

61066000

71529000

23724000

30010000

127362000

134644000

-1773000

-1422000

-804000

-753000

19000

22000

9000

-917000

4168000

3981000

4602000

5034000

922000

955000

12259000

3355000

1077000

1019000

9175000

9200000

849000

268000

228000

14345000

14133000

-4597000

-4250000

14700000

1000

4597000

4251000

4597000

4251000

4597000

4251000

4597000

4251000

4597000

4251000

0.0057

0.0204

-1000

234000

200000

-211000

403000

<div> <div> 15. Recent Accounting Pronouncements In May 2011, the Financial Accounting Standards Board (FASB) amended authoritative guidance related to common fair value measurements and disclosure requirements. This pronouncement was issued to provide a consistent definition of fair value and ensure that the fair value measurement and disclosure requirements are similar between U.S. GAAP and IFRS. This pronouncement changes certain fair value measurement principles and enhances the disclosure requirements, particularly for level 3 fair value measurements, and is effective for reporting periods beginning on or after December 15, 2011. This pronouncement was adopted effective January 1, 2012 and did not have a material effect on our financial statements. In June and December 2011, the FASB issued guidance that eliminates the option to report other comprehensive income and its components in the statement of changes in stockholders' equity and requires an entity to present the total of comprehensive income, the components of net income and the components of other comprehensive income either in a single continuous statement or in two separate but consecutive statements. This pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. This guidance was adopted effective January 1, 2012 and concerns presentation and disclosure only and did not have a material impact on our financial statements. In September 2011, the FASB issued guidance intended to reduce the cost and complexity of the annual goodwill impairment test by providing entities an option to perform a "qualitative" assessment to determine whether further impairment testing is necessary. This pronouncement is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. The adoption of this guidance is not expected to have a material effect on our financial statements. </div> </div>

57968000

460000

4650000

12221000

1321000

12221000

1197000

35120000

2638000

8300000

10883000

13545000

1309000

12661000

4650000

460000

90000

5114000

37000

1763000

4552000

9513000

279000

6344000

45128000

4843000

<div> <div> 2. Discontinued Operations On October 27, 2011 we entered into a contract to sell the assets and liabilities of our Albany Door Systems business to Assa Abloy AB for $130 million. Closing on the transaction occurred on January 11, 2012.  Under the terms of the contract, Assa Abloy AB acquired our equity ownership of Albany Doors Systems GmbH in Germany, Albany Door Systems AB in Sweden, and other ADS affiliates in Germany, France, the Netherlands, Turkey, Poland, Belgium, New Zealand, and other countries, as well as the remaining ADS business assets, most of which are located in the United States, Australia, China, and Italy. As of March 31, 2012, the purchaser had yet to complete certain legal registration activities in China and, as a result, certain business assets and liabilities have not yet been transferred to the purchaser. The Company recorded a pre-tax gain of $58.0 million, including $17.4 million which was payable by the purchaser as of March 31, 2012. The initial purchase price of $130 million included $13 million to be paid in July 2013. We recorded the value of that consideration on a present value basis and, as of March 31, 2012, we have a receivable of $12.4 million included in Other assets. Additionally, in March 2012, we agreed with the purchaser on certain post-closing adjustments and, included in Accounts receivable, net is $5.0 million to reflect that agreement. We received that payment in April 2012. In accordance with the applicable accounting guidance for discontinued businesses, the associated results of operations and financial position are reported separately in the accompanying Consolidated Statements of Operations and Balance Sheets. Cash flows of the discontinued operation were combined with cash flows from continuing operations in the consolidated statements of cash flows. The table below summarizes operating results of the discontinued operations: <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; BORDER-TOP: black 1pt solid">  </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-TOP: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> January 1 to</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid">  </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid">  </td> <td style="BORDER-TOP: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> Three months</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom">  </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> January 11,</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> ended</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> 2012</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> March 31, 2011</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 56%">Net sales</td> <td style="WIDTH: 8%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 13%">$4,843</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 4%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 17%">$45,128</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Income from operations of discontinued business before tax</td> <td> </td> <td style="TEXT-ALIGN: right">460</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">4,650</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Gain on disposition of discontinued operations</td> <td> </td> <td style="TEXT-ALIGN: right">57,968</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">-  </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Income tax expense</td> <td> </td> <td style="TEXT-ALIGN: right">12,221</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">1,321</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> </table> The table below summarizes major categories of assets and liabilities for the discontinued Albany Doors business: <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; WIDTH: 68%; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; WIDTH: 16%; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; WIDTH: 16%; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid" nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center" nowrap="nowrap">March 31,</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center" nowrap="nowrap">December 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 8pt; FONT-WEIGHT: bold; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">(in thousands)</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center" nowrap="nowrap">2012</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center" nowrap="nowrap">2011</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Assets of Discontinued Operations:</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Cash</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">  $                 -</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap"> $       13,545</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Accounts receivable, net of allowance for doubtful accounts</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">             1,197</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">           35,120</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Inventories</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">             1,309</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">           12,661</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Property, plant and equipment, net</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">                279</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">             6,344</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Goodwill and intangibles</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">                    -</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">           39,227</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Other current and noncurrent assets</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">                  90</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">             5,114</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Total assets of discontinued operation</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">  $          2,875</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap"> $      112,011</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Liabilities of Discontinued Operations:</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Accounts payable</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">  $          2,638</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">  $         8,300</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Accrued liabilities</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">                    -</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">           10,883</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Other current liabilities</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">                  37</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">             1,763</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Liabilities for defined benefit pension plans</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">                    -</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">             9,513</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Other noncurrent liabilities</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">                    -</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">             4,552</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">Total liabilities of discontinued operation</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">  $          2,675</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap"> $       35,011</td> </tr> </table> </div> </div>

4069000

1.5

0.54

1.49

0.53

0.54

<div> <div> 8. Earnings Per Share Earnings per share are computed using the weighted average number of shares of Class A Common Stock and Class B Common Stock outstanding during the period. Diluted earnings per share include the effect of all potentially dilutive securities. The amounts used in computing earnings per share, including the effect on income and the weighted average number of shares of potentially dilutive securities, are as follows: <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="5">Three Months Ended</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td style="TEXT-ALIGN: center" colspan="5">March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold">(in thousands, except market price data)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2012</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2011</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 56%"> Net income/(loss) available to common shareholders</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 8%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 13%"> $47,041</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%">  </td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 8%"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 13%"> $16,733</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold">Weighted average number of shares:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt">  Weighted average number of shares used in</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">   calculating basic net income per share</td> <td> </td> <td style="TEXT-ALIGN: right">31,309</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">31,223</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold"> Effect of dilutive stock-based compensation plans:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">  Stock options</td> <td> </td> <td style="TEXT-ALIGN: right">110</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">114</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">   Long-term incentive plan</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 114</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 47</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt">Weighted average number of shares used in</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> calculating diluted net income per share</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 31,533</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 31,384</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Effect of stock-based compensation plans</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">that were not included in the computation of</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt">diluted earnings per share because</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> to do so would have been antidilutive</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt">Average market price of common stock used</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt">for calculation of dilutive shares</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $23.97</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $23.81</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold">Net income/(loss) per share:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt">  Basic</td> <td> </td> <td style="TEXT-ALIGN: right">$1.50</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">$0.54</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt">   Diluted</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $1.49</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $0.53</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> </table>   As of March 31, 2012 and 2011, there was no dilution resulting from the convertible debt instrument, purchased call option, and warrant that are described in Note 11. The following table presents the number of shares issued and outstanding: <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr> <td style="PADDING-LEFT: 5.4pt; WIDTH: 23%; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid">   </td> <td style="BORDER-TOP: black 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; WIDTH: 17%"> Class A</td> <td style="PADDING-LEFT: 5.4pt; WIDTH: 3%; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid">   </td> <td style="BORDER-TOP: black 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; WIDTH: 17%"> Class B</td> <td style="PADDING-LEFT: 5.4pt; WIDTH: 3%; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid">   </td> <td style="BORDER-TOP: black 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; WIDTH: 17%"> Less: Treasury</td> <td style="PADDING-LEFT: 5.4pt; WIDTH: 3%; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid">   </td> <td style="BORDER-TOP: black 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; WIDTH: 17%"> Net shares</td> </tr> <tr> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 10pt">   </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center"> Shares</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 10pt">   </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center"> Shares</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 10pt">   </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center"> Shares</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 10pt">   </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center"> Outstanding</td> </tr> <tr> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> </tr> <tr> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> March 31, 2012</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> 36,585,004</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> 3,236,098</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> (8,479,487)</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> 31,341,615</td> </tr> <tr> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> December 31, 2011</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> 36,540,842</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> 3,236,098</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> (8,479,487)</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> 31,297,453</td> </tr> <tr> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> March 31, 2011</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> 36,505,292</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 10pt">   </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> 3,236,098</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 10pt">   </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> (8,484,528)</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 10pt">   </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> 31,256,862</td> </tr> </table>   </div> </div>

0.31

8569000

8432000

3000

14000

3000

14000

<div> <div> 12. Fair Value Measurements Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Accounting principles establish a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The hierarchy is broken down into three general levels: Level 1 inputs are quoted prices in active markets for identical assets or liabilities; Level 2 inputs include data points that are observable, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or similar assets or liabilities in markets that are not active, and inputs (other than quoted prices) such as interest rates and yield curves that are observable for the asset and liability, either directly or indirectly; Level 3 inputs are unobservable data points for the asset or liability, and include situations in which there is little, if any, market activity for the asset or liability. The following table presents the fair-value hierarchy for our financial assets and liabilities measured at fair value on a recurring basis: <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2">Total fair value</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2">Quoted prices in active markets (Level 1)</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2">Significant other observable inputs (Level 2)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-WEIGHT: bold">Fair Value at March 31, 2012</td> <td> </td> <td style="TEXT-ALIGN: right" colspan="2"> </td> <td> </td> <td style="TEXT-ALIGN: right" colspan="2"> </td> <td> </td> <td style="TEXT-ALIGN: right" colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-STYLE: italic; PADDING-LEFT: 5.4pt">Assets:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 46%">   Cash equivalents</td> <td style="WIDTH: 5%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 12%">$38,555</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 5%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 12%">$38,555</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 5%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 12%"> $          -</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">   Common stock of foreign public company</td> <td> </td> <td style="TEXT-ALIGN: right">635</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">635</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">   Foreign exchange contracts</td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-STYLE: italic; PADDING-LEFT: 5.4pt"> Liabilities:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">   Interest rate swap</td> <td> </td> <td style="TEXT-ALIGN: right">(4,597</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(4,597</td> <td style="TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold">Fair Value at December 31, 2011</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-STYLE: italic; PADDING-LEFT: 5.4pt">Assets:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">  Cash equivalents</td> <td> </td> <td style="TEXT-ALIGN: right">$30,287</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">$30,287</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> $          -</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">   Common stock of foreign public company</td> <td> </td> <td style="TEXT-ALIGN: right">577</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">577</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">   Foreign exchange contracts</td> <td> </td> <td style="TEXT-ALIGN: right">1</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">1</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-STYLE: italic; PADDING-LEFT: 5.4pt"> Liabilities:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">   Interest rate swap</td> <td> </td> <td style="TEXT-ALIGN: right">(4,251</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(4,251</td> <td style="TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> </table> During the three-months ended March 31, 2012, there were no transfers between levels 1, 2, and 3. Cash equivalents include short-term securities that are considered to be highly liquid and easily tradable. These securities are valued using inputs observable in active markets for identical securities. The common stock of a foreign public company is traded in an active market exchange. The shares are measured at fair value using closing stock prices and are recorded in the Consolidated Balance Sheets as Other assets. The securities are classified as available for sale, and as a result any gain or loss is recorded in the Shareholders' Equity section of the Consolidated Balance Sheets rather than in the Consolidated Statements of Income. When the security is sold or impaired, gains and losses are reported on the Consolidated Statements of Income. Investments are considered to be impaired when a decline in fair value is judged to be other than temporary. Foreign currency instruments are entered into periodically, and consist of foreign currency option contracts and forward contracts that are valued using quoted prices in active markets obtained from independent pricing sources. These instruments are measured using market foreign exchange prices and are recorded in the Consolidated Balance Sheets as Other current assets and Accounts payable, as applicable. Changes in fair value of these instruments are recorded as gains or losses within Other (income)/expense, net. Gains/(losses) for the three months ended March 31, 2012 were negligible. Gains totaled $0.2 million for the three months ended March 31, 2011. When exercised, the foreign currency instruments are net settled with the same financial institution that bought or sold them. For all positions, whether options or forward contracts, there is risk from the possible inability of the financial institution to meet the terms of the contracts and the risk of unfavorable changes in interest and currency rates, which may reduce the value of the instruments. We seek to control risk by evaluating the creditworthiness of counterparties and by monitoring the currency exchange and interest rate markets while reviewing the hedging risks and contracts to ensure compliance with our internal guidelines and policies. We operate our business in many regions of the world, and currency rate movements can have a significant effect on operating results. Changes in exchange rates can result in revaluation gains and losses that are recorded in Selling, General, Technical, Product Engineering, and Research expenses or Other income/expense, net. Revaluation gains and losses occur when our business units have intercompany or third-party trade receivable or payable balances in a currency other than their local reporting (or functional) currency. Operating results can also be affected by the translation of sales and costs, for each non-U.S. subsidiary, from the local functional currency to the U.S. dollar. The translation effect on the income statement is dependent on our net income or expense position in each non-U.S. currency in which we do business. A net income position exists when sales realized in a particular currency exceed expenses paid in that currency; a net expense position exists if the opposite is true. In order to mitigate foreign exchange volatility in the financial statements, we periodically enter into foreign currency financial instruments from time to time. There were no foreign currency financial instruments designated as hedging instruments at March 31, 2012. As described in Note 11 of the Notes to Consolidated Financial Statements, on July 16, 2010, we entered into a $390 million unsecured five-year revolving credit facility agreement. The applicable interest rate for borrowings under the agreement is LIBOR plus a spread, based on our leverage ratio at the time of borrowing. Interest rate changes on this variable rate debt cause changes in cash flows, and in order to mitigate this cash flow risk we have fixed a portion of the effective interest rate on part of the indebtedness drawn under the agreement by entering into interest rate hedging transactions on July 16, 2010. This interest rate swap locked in our interest rate on the forecasted outstanding borrowings of $105 million at 2.04% plus the credit spread on the debt for a five year period. The credit spread is based on the pricing grid, which can go as low as 2.0% or as high as 2.75%, based on our leverage ratio. The interest rate swap is accounted for as a hedge of future cash flows. The fair value of our interest rate swap is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve, and is recorded in the Consolidated Balance Sheets as of March 31, 2012 as Other noncurrent liabilities of $4.6 million. Unrealized gains and losses on the swap will flow through the caption Derivative valuation adjustment in the Shareholders' equity section of the Consolidated Balance Sheets, to the extent that the hedge is highly effective. Gains and losses related to the ineffective portion of the hedge will be recognized in the current period in earnings. Amounts accumulated in Other comprehensive income are reclassified as Interest expense, net when the related interest payments (that is, the hedged forecasted transactions) affect earnings. Interest expense related to the swap totaled $0.4 million and $0.5 million for the three months ended March 31, 2012 and 2011, respectively. Fair value amounts of derivative instruments were as follows: <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt; VERTICAL-ALIGN: bottom; WIDTH: 45%"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; WIDTH: 23%"> Balance sheet caption</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 1.5pt; WIDTH: 2%; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid">   </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-LEFT: 1.5pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; WIDTH: 11%"> March 31, 2012</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%; FONT-SIZE: 12pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 2%; FONT-SIZE: 12pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid">   </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; WIDTH: 13%"> December 31, 2011</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top; BORDER-TOP: black 1pt solid">   </td> </tr> <tr> <td style="PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-LEFT: 1.5pt; VERTICAL-ALIGN: bottom"> Asset Derivatives</td> <td style="PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt; VERTICAL-ALIGN: top"> Derivatives not designated as hedging instruments:</td> <td style="PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">  </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt; VERTICAL-ALIGN: bottom">   Foreign exchange contracts</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.3pt; VERTICAL-ALIGN: bottom"> Other assets</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> $-</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> $1</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 1.8pt; VERTICAL-ALIGN: top" colspan="2">Total asset derivatives not designated as hedging instruments</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> $-</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> $1</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; VERTICAL-ALIGN: bottom"> Total asset derivatives</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> $-</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> $1</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-RIGHT: 0.8pt; VERTICAL-ALIGN: bottom"> Liability Derivatives</td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="FONT-SIZE: 11pt; PADDING-RIGHT: 1.8pt; VERTICAL-ALIGN: top" colspan="2">Derivatives designated as hedging instruments:</td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; VERTICAL-ALIGN: bottom">   Interest rate swap</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; VERTICAL-ALIGN: bottom"> Other noncurrent liabilities</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> ($4,597</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom"> )  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> ($4,251</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top"> )  </td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 1.8pt; VERTICAL-ALIGN: top" colspan="2">Total liability derivatives designated as hedging instruments</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> ($4,597</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom"> )  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> ($4,251</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top"> )  </td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; VERTICAL-ALIGN: bottom"> Total liability derivatives</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> ($4,597</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom"> )  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> ($4,251</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top"> )  </td> </tr> <tr> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; VERTICAL-ALIGN: bottom"> Total derivatives</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> ($4,597</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom"> )  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> ($4,250)</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> </table> (Losses)/gains on changes in fair value of derivative instruments were as follows: <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: center; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; BORDER-TOP: black 1pt solid">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; BORDER-TOP: black 1pt solid">   </td> <td style="BORDER-TOP: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 6.8pt; TEXT-ALIGN: center" colspan="7">Three months ended March 31,</td> <td style="TEXT-ALIGN: center; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; BORDER-TOP: black 1pt solid">   </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-RIGHT: 2.8pt; TEXT-ALIGN: center" colspan="3">2012</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 2.8pt; TEXT-ALIGN: center" colspan="3">2011</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">   </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: center; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">   </td> <td style="TEXT-ALIGN: center; PADDING-RIGHT: 2.8pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold" colspan="3">  </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt">  </td> <td style="TEXT-ALIGN: center; PADDING-RIGHT: 2.8pt; FONT-SIZE: 11pt" colspan="3">  </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">   </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt; WIDTH: 65%"> Derivatives designated as hedging instruments</td> <td style="WIDTH: 2%; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">   </td> <td style="WIDTH: 1%; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">   </td> <td style="TEXT-ALIGN: right; WIDTH: 11%; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">   </td> <td style="WIDTH: 1%; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">   </td> <td style="WIDTH: 6%; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt">  </td> <td style="WIDTH: 1%; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt">  </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt">   </td> <td style="WIDTH: 1%; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt">  </td> <td style="WIDTH: 2%; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">   </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt">   Interest rate swap 1</td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 12pt">  </td> <td style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right"> ($211)</td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 12pt">  </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt">  </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 12pt">  </td> <td style="FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right"> $403</td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt">  </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">   </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt">Derivatives not designated as hedging instruments</td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt">  </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt">  </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt">  </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">   </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt">   Foreign exchange options 2</td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">   </td> <td style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right"> (1</td> <td style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-RIGHT: 0.8pt"> )</td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt">  </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt">  </td> <td style="FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right"> 234</td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt">  </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">   </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 1.5pt; FONT-SIZE: 12pt">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 12pt">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 12pt">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 12pt">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 12pt">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 12pt">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 12pt">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 12pt">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 12pt">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 12pt">   </td> </tr> </table> <table style="MARGIN-TOP: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right; WIDTH: 15pt">1</td> <td style="WIDTH: 5pt"> </td> <td style="FONT-SIZE: 10pt">Unrealized losses are recognized in Other comprehensive income, net of tax. This derivative was an effective hedge of interest rate cash flow risk for the three months ended March 31, 2012.</td> </tr> </table> <table style="MARGIN-TOP: 0px; FONT: 10pt Arial, Helvetica, Sans-Serif; MARGIN-BOTTOM: 6pt" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right; WIDTH: 15pt">2</td> <td style="WIDTH: 5pt"> </td> <td style="FONT-SIZE: 10pt">(Losses)/gains are recognized in Other expense, net.</td> </tr> </table> </div> </div>

1000

51000

6000

58000

222000

228000

42000

43000

757000

808000

1021000

1079000

1000

29000

231000

57968000

428000

77148000

75469000

<div> <div> 10. Goodwill and Other Intangible Assets Goodwill and intangible assets with indefinite useful lives are not amortized, but are tested for impairment at least annually. Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. Our reporting units are consistent with our operating segments. Determining the fair value of a reporting unit requires the use of significant estimates and assumptions, including revenue growth rates, operating margins, discount rates, and future market conditions, among others. Goodwill and other long-lived assets are reviewed for impairment whenever events, such as significant changes in the business climate, plant closures, changes in product offerings, or other circumstances indicate that the carrying amount may not be recoverable. To determine fair value, we utilize two market-based approaches and an income approach. Under the market-based approaches, we utilize information regarding the Company as well as publicly available industry information to determine earnings multiples and sales multiples. Under the income approach, we determine fair value based on estimated future cash flows of each reporting unit, discounted by an estimated weighted-average cost of capital, which reflects the overall level of inherent risk of a reporting unit and the rate of return an outside investor would expect to earn. The balance of goodwill on our books is attributable to the Machine Clothing business. We completed our 2011 annual evaluation of goodwill for the Machine Clothing reporting unit in the second quarter of 2011 and determined that the fair value exceeded carrying value and therefore no impairment provision was required. In addition, there were no amount at risk due to the large spread between the fair and carrying values. We are continuing to amortize certain patents, trade names, customer contracts and technology assets that have finite lives. The changes in intangible assets and goodwill from January 1, 2012 to March 31, 2012, were as follows: <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold">  </td> <td style="BORDER-TOP: black 1pt solid; FONT-SIZE: 9pt; FONT-WEIGHT: bold; TEXT-ALIGN: right" nowrap="nowrap">Balance at</td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap"> </td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap">  </td> <td style="BORDER-TOP: black 1pt solid; FONT-SIZE: 9pt; FONT-WEIGHT: bold; TEXT-ALIGN: right" nowrap="nowrap">Currency</td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap">  </td> <td style="BORDER-TOP: black 1pt solid; FONT-SIZE: 9pt; FONT-WEIGHT: bold; TEXT-ALIGN: right" nowrap="nowrap">Balance at</td> <td style="TEXT-ALIGN: right; BORDER-TOP: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; FONT-WEIGHT: bold; TEXT-ALIGN: left" nowrap="nowrap">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; FONT-WEIGHT: bold; TEXT-ALIGN: right" nowrap="nowrap">December 31, 2011</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; FONT-WEIGHT: bold; TEXT-ALIGN: right" nowrap="nowrap">Amortization</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; FONT-WEIGHT: bold; TEXT-ALIGN: right" nowrap="nowrap">Translation</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; FONT-WEIGHT: bold; TEXT-ALIGN: right" nowrap="nowrap">March 31, 2012</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 9pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left"> Amortized intangible assets:</td> <td style="TEXT-ALIGN: right">  </td> <td style="TEXT-ALIGN: left">  </td> <td style="TEXT-ALIGN: right">  </td> <td style="TEXT-ALIGN: left">  </td> <td>  </td> <td style="TEXT-ALIGN: right">  </td> <td style="TEXT-ALIGN: left">  </td> <td>  </td> <td style="TEXT-ALIGN: right">  </td> <td style="TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 9pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left; WIDTH: 40%">   AEC trade names</td> <td style="FONT-SIZE: 9pt; TEXT-ALIGN: right; WIDTH: 12%">$43</td> <td style="TEXT-ALIGN: left; WIDTH: 2%">  </td> <td style="FONT-SIZE: 9pt; TEXT-ALIGN: right; WIDTH: 11%">($1</td> <td style="FONT-SIZE: 9pt; TEXT-ALIGN: left; WIDTH: 2%">)</td> <td style="WIDTH: 2%">  </td> <td style="FONT-SIZE: 9pt; TEXT-ALIGN: right; WIDTH: 11%"> $         -</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">  </td> <td style="WIDTH: 2%">  </td> <td style="FONT-SIZE: 9pt; TEXT-ALIGN: right; WIDTH: 12%">$42</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 9pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left">   AEC customer contracts</td> <td style="FONT-SIZE: 9pt; TEXT-ALIGN: right">808</td> <td style="TEXT-ALIGN: left">  </td> <td style="FONT-SIZE: 9pt; TEXT-ALIGN: right">(51</td> <td style="FONT-SIZE: 9pt; TEXT-ALIGN: left">)</td> <td>  </td> <td style="FONT-SIZE: 9pt; TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">  </td> <td>  </td> <td style="FONT-SIZE: 9pt; TEXT-ALIGN: right">757</td> <td style="TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left">   AEC technology</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; TEXT-ALIGN: right"> 228</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; TEXT-ALIGN: right"> (6</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)  </td> <td style="BORDER-BOTTOM: black 1pt solid">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; TEXT-ALIGN: right"> 222</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left"> Total amortized intangible assets</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; TEXT-ALIGN: right"> $1,079</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; TEXT-ALIGN: right"> ($58</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; TEXT-ALIGN: left"> )</td> <td style="BORDER-BOTTOM: black 1pt solid">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; TEXT-ALIGN: right"> $         -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; TEXT-ALIGN: right"> $1,021</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt">  </td> <td style="TEXT-ALIGN: right">  </td> <td style="TEXT-ALIGN: left">  </td> <td style="TEXT-ALIGN: right">  </td> <td style="TEXT-ALIGN: left">  </td> <td>  </td> <td style="TEXT-ALIGN: right">  </td> <td style="TEXT-ALIGN: left">  </td> <td>  </td> <td style="TEXT-ALIGN: right">  </td> <td style="TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 9pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left"> Unamortized intangible assets:</td> <td style="TEXT-ALIGN: right">  </td> <td style="TEXT-ALIGN: left">  </td> <td style="TEXT-ALIGN: right">  </td> <td style="TEXT-ALIGN: left">  </td> <td>  </td> <td style="TEXT-ALIGN: right">  </td> <td style="TEXT-ALIGN: left">  </td> <td>  </td> <td style="TEXT-ALIGN: right">  </td> <td style="TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left">     Goodwill, Machine Clothing reportable unit</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; TEXT-ALIGN: right"> $75,469</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; TEXT-ALIGN: right"> $   -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; TEXT-ALIGN: right"> $1,679</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 9pt; TEXT-ALIGN: right"> $77,148</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> </table>   Estimated amortization expense of amortized intangible assets for the years ending December 31, 2012 through 2016 is as follows:   <table style="WIDTH: 50%; BORDER-COLLAPSE: collapse; FONT-FAMILY: Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; WIDTH: 25%" nowrap="nowrap">Year</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 5.4pt; WIDTH: 21%; PADDING-RIGHT: 5.4pt; FONT-SIZE: 11pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; WIDTH: 54%"> Annual Amortization (in thousands)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center" nowrap="nowrap">2012</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">$231</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center" nowrap="nowrap">2013</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">231</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center" nowrap="nowrap">2014</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">231</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center" nowrap="nowrap">2015</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">  </td> <td style="FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">231</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center" nowrap="nowrap">2016</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 11pt" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">29</td> </tr> </table> </div> </div>

1679000

71834000

88845000

3657000

-19000

8217000

16148000

78320000

-1330000

-16148000

-8217000

86537000

-78320000

-16148000

104993000

86537000

-19000

3657000

-1330000

-477000

41000

834000

13404000

16733000

-3329000

-8545000

17392000

22262000

-4877000

7000

0.03

0.43

0.54

0.03

0.43

0.54

46207000

3329000

1.47

0.11

0.0

1.46

0.1

0.0

220000

-227000

7000

<div> <div> 7. Income Taxes The following table presents components of income tax expense/(benefit) for the three month period ended March 31, 2012 and 2011: <table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="5">Three Months Ended</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td style="TEXT-ALIGN: center" colspan="5">March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 2012</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 2011</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 68%"> Income tax (benefit)/expense based on income from continuing operations, at estimated tax rates of 31% in 2012 and 2011</td> <td style="WIDTH: 9%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 9%">($2,646</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">)</td> <td style="WIDTH: 3%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 9%">$5,401</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Discrete tax (benefit):</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">  Provision for/resolution of tax audits and contingencies</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (6,733</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (1,413</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Total income tax (benefit)/expense</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> ($9,379</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $3,988</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> </table> The estimated effective tax rate on continuing operations was 31 percent for the first quarter of 2012 and the first quarter of 2011. Q1 2012 income tax expense included a discrete tax benefit of $6.7 million that was principally related to the resolution of tax audits. We conduct business globally and, as a result, the Company or one or more of our subsidiaries files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions.  We are currently under audit in the U.S. and non-U.S. tax jurisdictions, including but not limited to Canada, Germany, France, and Sweden.  Tax reserves are recorded for the outcome of these uncertainties in accordance with US GAAP. It is reasonably possible that over the next twelve months the amount of unrecognized tax benefits may change within a range of a net increase of $0 million to a net decrease of $0.3 million, from the re-evaluation of certain uncertain tax positions arising in examinations, in appeals, or in the courts, or from the closure of tax statutes. Not included in the range is $22.9 million of tax benefits in Germany related to a 1999 reorganization that have been challenged by the German tax authorities in the course of an audit of tax years 2000-2003. In 2008 the German Federal Tax Court denied tax benefits to other taxpayers in a case involving German tax laws relevant to our reorganization. One of these cases involved a non-German party, and in the ruling in that case, the German Federal Tax Court acknowledged that the German law in question may be violative of European Union ("EU") principles and referred the issue to the European Court of Justice ("ECJ") for its determination on this issue. In September 2009, the ECJ issued an opinion in this case that is generally favorable to the other taxpayer and referred the case back to the German Federal Tax Court for further consideration. In May 2010 the German Federal Tax Court released its decision, in which it resolved certain tax issues that may be relevant to our audit and remanded the case to a lower court for further development. Although we were required to pay approximately $13.3 million to the German tax authorities in order to continue to pursue the position, we believe that it is more likely than not that the relevant German law is violative of EU principles and accordingly we have not accrued tax expense on this matter. As we continue to monitor developments, it may become necessary for us to accrue tax expense and related interest. During the quarter, the Company recorded a discrete tax benefit of $7.0 million related to the settlement with the Canadian Revenue Agency (CRA) of reassessment notices for the tax years 2001 to 2008. The settlement is expected to result in cash payments of $1.5 million in 2012 as well as the reduction of available tax assets of $2.7 million. Letters of credit of $50 million in the aggregate, required by the CRA during this process, are expected to be released by the CRA by the end of second quarter. The Company is in the process of evaluating its tax-planning strategies to determine if an action could be taken to reduce or eliminate its valuation allowances on its deferred tax assets. It is reasonably possible that over the next twelve months that the Company could take an action that would result in the Company recording a discrete benefit of $8.7 million upon reduction of its valuation allowances on its deferred tax assets. </div> </div>

-1500000

2000

2003

2001

2008

-9379000

3988000

5309000

-1321000

-9379000

3988000

-2646000

5401000

-6733000

-1413000

6174000

2248000

-3368000

-1856000

-1815000

-5433000

1956000

3698000

3912000

8372000

383000

644000

1616000

3270000

1021000

1079000

400000

500000

-4644000

-4776000

<div> <div> 9. Inventories Inventories consist of the following: <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt; WIDTH: 40%"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; WIDTH: 3%; FONT-SIZE: 11pt; BORDER-TOP: black 1pt solid">   </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-LEFT: 1.5pt; TEXT-ALIGN: right; WIDTH: 28%"> March 31, 2012</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; WIDTH: 3%; FONT-SIZE: 11pt; BORDER-TOP: black 1pt solid">   </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt; TEXT-ALIGN: right; WIDTH: 26%"> December 31, 2011</td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; FONT-WEIGHT: bold">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt">   </td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt">Finished goods</td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt">   </td> <td style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-LEFT: 1.5pt; TEXT-ALIGN: right"> $63,131</td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt">   </td> <td style="FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt; TEXT-ALIGN: right"> $63,328</td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt">Work in process</td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt">   </td> <td style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-LEFT: 1.5pt; TEXT-ALIGN: right">  45,938</td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt">   </td> <td style="FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt; TEXT-ALIGN: right">  39,552</td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt">Raw material and supplies</td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt">   </td> <td style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-LEFT: 1.5pt; TEXT-ALIGN: right">  29,230</td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt">   </td> <td style="FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt; TEXT-ALIGN: right">  30,769</td> </tr> <tr style="VERTICAL-ALIGN: top"> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt"> Total inventories</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; BORDER-TOP: black 1pt solid">   </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-LEFT: 1.5pt; TEXT-ALIGN: right"> $138,299</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; BORDER-TOP: black 1pt solid">   </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt; TEXT-ALIGN: right"> $133,649</td> </tr> </table> Inventories are stated at the lower of cost or market and are valued at average cost, net of reserves. We record a provision for obsolete inventory based on the age and category of the inventories. </div> </div>

63131000

63328000

138299000

133649000

29230000

30769000

45938000

39552000

<div> <div> 13. Contingencies Asbestos Litigation Albany International Corp is a defendant in suits brought in various courts in the United States by plaintiffs who allege that they have suffered personal injury as a result of exposure to asbestos-containing products that we previously manufactured. We produced asbestos-containing paper machine clothing synthetic dryer fabrics marketed during the period from 1967 to 1976 and used in certain paper mills. Such fabrics generally had a useful life of three to twelve months. The Company was defending 4,440 claims as of April 25, 2012. The following table sets forth the number of claims filed, the number of claims settled, dismissed or otherwise resolved, and the aggregate settlement amount during the periods presented: <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 8pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle; WIDTH: 17%" nowrap="nowrap">Year ended December 31,</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 8pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle; WIDTH: 17%" nowrap="nowrap">Opening Number of Claims</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 8pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle; WIDTH: 21%" nowrap="nowrap">Claims Dismissed, Settled, or Resolved</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 8pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle; WIDTH: 12%" nowrap="nowrap">New Claims</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 8pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle; WIDTH: 12%" nowrap="nowrap">Closing Number of Claims</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 8pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle; WIDTH: 21%" nowrap="nowrap">Amounts Paid (thousands) to Settle or Resolve ($)</td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">2005</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">29,411</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">6,257</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">1,297</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">24,451</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">504</td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">2006</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">24,451</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">6,841</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">1,806</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">19,416</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">3,879</td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">2007</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">19,416</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">808</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">190</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">18,798</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">15</td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">2008</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">18,798</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">523</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">110</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">18,385</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">52</td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">2009</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">18,385</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">9,482</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">42</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">8,945</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">88</td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">2010</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">8,945</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">3,963</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">188</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">5,170</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">159</td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">2011</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">5,170</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">789</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">65</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">4,446</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">1,111</td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">2012 to date</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; FONT-WEIGHT: bold; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24.1pt" nowrap="nowrap">4,446</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; FONT-WEIGHT: bold; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24.1pt" nowrap="nowrap">40</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; FONT-WEIGHT: bold; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24.1pt" nowrap="nowrap">34</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; FONT-WEIGHT: bold; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24.1pt" nowrap="nowrap">4,440</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; FONT-WEIGHT: bold; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24.1pt" nowrap="nowrap">513</td> </tr> </table> We anticipate that additional claims will be filed against the Company and related companies in the future, but are unable to predict the number and timing of such future claims. Exposure and disease information sufficiently meaningful to estimate a range of possible loss of a particular claim is typically not available until late in the discovery process, and often not until a trial date is imminent and a settlement demand has been received. For these reasons, we do not believe a meaningful estimate can be made regarding the range of possible loss with respect to pending or future claims. While we believe we have meritorious defenses to these claims, we have settled certain claims for amounts we consider reasonable given the facts and circumstances of each case. Our insurer, Liberty Mutual, has defended each case and funded settlements under a standard reservation of rights. As of April 25, 2012, we had resolved, by means of settlement or dismissal, 36,320 claims. The total cost of resolving all claims was $8,628,500. Of this amount, almost 100% was paid by our insurance carrier. The Company has approximately $130 million in confirmed insurance coverage that should be available with respect to current and future asbestos claims, as well as additional insurance coverage that we should be able to access. Brandon Drying Fabrics, Inc. ("Brandon"), a subsidiary of Geschmay Corp., which is a subsidiary of the Company, is also a separate defendant in many of the asbestos cases in which Albany is named as a defendant. Brandon was defending against 7,874 claims as of April 25, 2012. The following table sets forth the number of claims filed, the number of claims settled, dismissed or otherwise resolved, and the aggregate settlement amount during the periods presented: <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 8pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle; WIDTH: 17%"> Year ended December 31,</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 8pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle; WIDTH: 17%"> Opening Number of Claims</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 8pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle; WIDTH: 21%"> Claims Dismissed, Settled, or Resolved</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 8pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle; WIDTH: 12%"> New Claims</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 8pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle; WIDTH: 12%"> Closing Number of Claims</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 8pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle; WIDTH: 21%"> Amounts Paid (thousands) to Settle or Resolve ($)</td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">2005</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">9,985</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">642</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">223</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">9,566</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">0</td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">2006</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">9,566</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">1,182</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">730</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">9,114</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">0</td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">2007</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">9,114</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">462</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">88</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">8,740</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">0</td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">2008</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">8,740</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">86</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">10</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">8,664</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">0</td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">2009</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">8,664</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">760</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">3</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">7,907</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">0</td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">2010</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">7,907</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">47</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">9</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">7,869</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">0</td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">2011</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">7,869</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">3</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">11</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">7,877</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">0</td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 8pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" nowrap="nowrap">2012 to date</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">7,877</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">4</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">1</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">7,874</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: black 1pt solid; BORDER-RIGHT: black 1pt solid; FONT-SIZE: 12pt; FONT-STYLE: italic; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; TEXT-INDENT: 24pt" nowrap="nowrap">0</td> </tr> </table> We acquired Geschmay Corp., formerly known as Wangner Systems Corporation, in 1999. Brandon is a wholly owned subsidiary of Geschmay Corp. In 1978, Brandon acquired certain assets from Abney Mills ("Abney"), a South Carolina textile manufacturer. Among the assets acquired by Brandon from Abney were assets of Abney's wholly owned subsidiary, Brandon Sales, Inc. which had sold, among other things, dryer fabrics containing asbestos made by its parent, Abney. Although Brandon manufactured and sold dryer fabrics under its own name subsequent to the asset purchase, none of such fabrics contained asbestos. Because Brandon did not manufacture asbestos-containing products, and because it does not believe that it was the legal successor to, or otherwise responsible for obligations of Abney with respect to products manufactured by Abney, it believes it has strong defenses to the claims that have been asserted against it. As of April 25, 2012, Brandon has resolved, by means of settlement or dismissal, 9,725 claims for a total of $0.2 million. Brandon's insurance carriers initially agreed to pay 88.2% of the total indemnification and defense costs related to these proceedings, subject to the standard reservation of rights. The remaining 11.8% of the costs had been borne directly by Brandon. During 2004, Brandon's insurance carriers agreed to cover 100% of indemnification and defense costs, subject to policy limits and the standard reservation of rights, and to reimburse Brandon for all indemnity and defense costs paid directly by Brandon related to these proceedings. For the same reasons set forth above with respect to Albany's claims, as well as the fact that no amounts have been paid to resolve any Brandon claims since 2001, we do not believe a meaningful estimate can be made regarding the range of possible loss with respect to these remaining claims. Mount Vernon. In some of these asbestos cases, the Company is named both as a direct defendant and as the "successor in interest" to Mount Vernon Mills ("Mount Vernon"). We acquired certain assets from Mount Vernon in 1993. Certain plaintiffs allege injury caused by asbestos-containing products alleged to have been sold by Mount Vernon many years prior to this acquisition. Mount Vernon is contractually obligated to indemnify the Company against any liability arising out of such products. We deny any liability for products sold by Mount Vernon prior to the acquisition of the Mount Vernon assets. Pursuant to its contractual indemnification obligations, Mount Vernon has assumed the defense of these claims. On this basis, we have successfully moved for dismissal in a number of actions.  <div style="BORDER-TOP: black 1pt solid; FONT-SIZE: 1pt; MARGIN-BOTTOM: 3pt; MARGIN-TOP: 3pt; text-align: center; WIDTH: 25%">  </div>  Although we do not believe, based on currently available information and for the reasons stated above, that a meaningful estimate of a range of possible loss can be made with respect to such claims, based on our understanding of the insurance policies available, how settlement amounts have been allocated to various policies, our settlement experience, the absence of any judgments against the Company or Brandon, the ratio of paper mill claims to total claims filed, and the defenses available, we currently do not anticipate any material liability relating to the resolution of the aforementioned pending proceedings in excess of existing insurance limits. Consequently, we currently do not anticipate, based on currently available information, that the ultimate resolution of the aforementioned proceedings will have a material adverse effect on the financial position, results of operations, or cash flows of the Company. Although we cannot predict the number and timing of future claims, based on the foregoing factors and the trends in claims against us to date, we do not anticipate that additional claims likely to be filed against us in the future will have a material adverse effect on our financial position, results of operations, or cash flows. We are aware that litigation is inherently uncertain, especially when the outcome is dependent primarily on determinations of factual matters to be made by juries.  <div style="BORDER-TOP: black 1pt solid; FONT-SIZE: 1pt; MARGIN-BOTTOM: 3pt; MARGIN-TOP: 3pt; text-align: center; WIDTH: 25%">  </div>  NAFTA Audits The Company's affiliate in Mexico was notified in November 2010 that Mexican customs authorities expected to issue demands for duties on certain imports of PMC from the Company and the Company's affiliate in Canada for which the Company has claimed duty-free treatment under the North American Free Trade Agreement ("NAFTA"). The notices result from a decision by the Mexican Servicio de Administración Tributaria ("SAT") to invalidate NAFTA certificates provided by the Company on products shipped to its Mexican affiliate during the years 2006 through 2008.  The Demand Notices arose from an SAT audit during 2010, at the conclusion of which the SAT determined that the Company had failed to provide documentation sufficient to show that the certificates were validly issued, and declared the certificates issued during this period to be invalid.  The Company believes that the certificates of origin were valid and properly issued and therefore commenced administrative appeals with SAT disputing its resolutions.  While these appeals were pending, SAT revoked its earlier declarations of invalidation with respect to the certificates of origin at issue in 28 of the 36 open audits, and ordered a further review of such certificates. SAT is still considering the Company's appeal with regard to the remaining 8 open audits. The import duties identified in the notices sent to the Company's Mexican affiliate are approximately US $2.5 million, and relate to only a portion of the shipments covered by the certificates of origin initially invalidated by SAT. In the event of an adverse ruling at the conclusion of the administrative appeal process, the Company would have an opportunity to appeal the outcome in Mexican Tax Court, during which it would have an opportunity to present evidence to establish that the shipments in question were of U.S. and Canadian origin and entitled to the benefits of NAFTA. As all of the shipments covered by the invalidated certificates were, in fact, of U.S. or Canadian origin, the Company expects that it will be able to demonstrate that the certificates were validly issued. The Company has been advised by counsel that, if this is the case, then the Tax Court is likely to revoke any pending SAT invalidation actions and rule in favor of the Company. In the unlikely event that the Company were not to prevail, however, then it could become subject to additional demand notices for the balance of the shipments during the period from 2006 through 2008 covered by the remaining invalidated certificates. If such demand notices were to be issued for all the shipments so covered, then the Company could be liable for duties aggregating approximately $4.0 million. The Company has also been advised by counsel that SAT would likely seek additional antidumping duties and penalties which could increase these amounts by up to 900%, but that the possibility that SAT would succeed in obtaining such additional duties and penalties is remote. The Company also does not believe that it faces any material risk of certificates being invalidated with respect to any period other than the 2006 through 2008 audit period. For this reason, the Company does not feel that this matter is likely to have a material adverse effect on the Company's financial position, results of operations and cash flows. </div> </div>

51000000

668439000

815078000

1147658000

1230928000

182744000

170711000

2675000

35011000

2675000

20946000

14065000

139000000

390000000

460000000

199000000

0.0275

0.02

27632000

27228000

150000000

139000000

187000000

10149000

10160000

326781000

374388000

30145000

1263000

27500000

174300000

296636000

373125000

<div> <div> 11. Financial Instruments Long-term debt consists of: <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; WIDTH: 37%"> (in thousands, except interest rates)</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 5.4pt; WIDTH: 25%; PADDING-RIGHT: 5.4pt; FONT-SIZE: 10pt">   </td> <td style="PADDING-LEFT: 5.4pt; WIDTH: 9%; PADDING-RIGHT: 5.4pt">   </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; WIDTH: 12%"> March 31, 2012</td> <td style="PADDING-LEFT: 5.4pt; WIDTH: 3%; PADDING-RIGHT: 5.4pt">   </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: center; WIDTH: 14%"> December 31, 2011</td> </tr> <tr> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> </tr> <tr> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" colspan="2">Convertible notes, par value $28,437, issued in March 2006 with fixed contractual interest rates of 2.25%, due in 2026</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> $27,632</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> $27,228</td> </tr> <tr> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> </tr> <tr> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" colspan="2">Private placement with a fixed interest rate of 6.84%, due in 2013 through 2017</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> 150,000</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> 150,000</td> </tr> <tr> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> </tr> <tr> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" colspan="2">Credit agreement with borrowings outstanding at an end of period interest rate of 4.07% in 2012 and 3.61% in 2011,  due in 2015</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> 139,000</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> 187,000</td> </tr> <tr> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> </tr> <tr> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" colspan="2">Various notes and mortgages relative to operations principally outside the United States, at an average end of period rate of 3.06% in 2012 and 3.05% 2011, due in varying amounts through 2021</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> 10,149</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> 10,160</td> </tr> <tr> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> </tr> <tr> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Long-term debt</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> 326,781</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> 374,388</td> </tr> <tr> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> </tr> <tr> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Less: current portion</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 10pt">   </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right">     (30,145)</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right">         (1,263)</td> </tr> <tr> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> </tr> <tr> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Long-term debt, net of current portion</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 10pt">   </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> $296,636</td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt">  </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right"> $373,125</td> </tr> </table> A note agreement and guaranty ("the Prudential agreement") was entered into in October 2005 and was amended and restated September 17, 2010, with the Prudential Insurance Company of America, and certain other purchasers, in an aggregate principal amount of $150 million, with interest at 6.84% and a maturity date of October 25, 2017. There are mandatory payments of $50 million on October 25, 2013 and October 25, 2015. At the noteholders' election, certain prepayments may also be required in connection with certain asset dispositions or financings. The notes may not otherwise be prepaid without a premium, under certain market conditions. The note agreement contains customary terms, as well as affirmative covenants, negative covenants, and events of default comparable to those in our current principal credit facility. For disclosure purposes, we are required to measure the fair value of outstanding debt on a recurring basis. As of March 31, 2012, the fair value of the note agreement was approximately $174.3 million. This was measured using active market interest rates which qualifies the Prudential notes as a level 2 instrument in the hierarchy for inputs used in measuring fair value. On July 16, 2010, we entered into a $390 million unsecured five-year revolving credit facility agreement, under which $139 million of borrowings and $51 million in letters of credit were outstanding as of March 31, 2012. The 2010 credit agreement replaces the previous $460 million credit agreement made in 2006. The applicable interest rate for borrowings under the 2010 agreement, as well as under the former agreement, is LIBOR plus a spread, based on our leverage ratio at the time of borrowing. Our ability to borrow additional amounts under the credit agreement is conditional upon the absence of any defaults, as well as the absence of any material adverse change. Based on our maximum leverage ratio and our consolidated EBITDA (as defined in the credit agreement), and without modification to any other credit agreements, as of March 31, 2012 we would have been able to borrow an additional $199 million under the credit agreement. Also on July 16, 2010, we entered into interest rate hedging transactions that have the effect of fixing the LIBOR portion of the effective interest rate (before addition of the spread) on $105 million of the indebtedness drawn under the 2010 agreement at the rate of 2.04% for the next five years. Under the terms of these transactions, we pay the fixed rate of 2.04% and the counterparties pay a floating rate based on the three-month LIBOR rate at each quarterly calculation date, which on January 17, 2012 was 0.57%. The net effect is to fix the effective interest rate on $105 million of indebtedness at 2.04%, plus the applicable spread, until these swap agreements expire on July 16, 2015. On January 17, the applicable spread was 225 basis points, yielding an effective annual rate of 4.29%. This interest rate swap is accounted for as a hedge of future cash flows, as further described in Note 12 of the Notes to Consolidated Financial Statements. Reflecting, in each case, the effect of subsequent amendments to each agreement, we are currently required to maintain a leverage ratio of not greater than 3.50 to 1.00 and a minimum interest coverage of 3.00 to 1.00 under the credit agreement and Prudential agreement. As of March 31, 2012, our leverage ratio was 1.31 to 1.00 and our interest coverage ratio was 10.97 to 1.00. We may purchase our Common Stock or pay dividends to the extent our leverage ratio remains at or below 3.50 to 1.00, and may make acquisitions with cash provided our leverage ratio would not exceed 3.00 to 1.00 after giving pro forma effect to the acquisition. In March 2006, we issued $180 million principal amount of 2.25% convertible notes. The notes are convertible upon the occurrence of specified events and at any time on or after February 15, 2013, into cash up to the principal amount of notes converted and shares of our Class A common stock with respect to the remainder, if any, of our conversion obligation at a conversion rate of 23.0467 shares per $1,000 principal amount of notes (equivalent to a conversion price of $43.39 per share of Class A common stock). As of March 31, 2012, $28.4 million principal amount of convertible notes were outstanding, with a fair value of approximately $27.5 million, This was measured using quoted prices in active markets which qualifies the convertible notes as a level 2 instrument in the hierarchy for inputs used in measuring fair value. These amounts reflect the reduction in principal amount and fair value as a result of purchases made in 2009. Holders may convert their notes at any time on or after February 15, 2013. Before February 15, 2013, a holder may convert notes during the five-business day period immediately after any period of five consecutive trading days in which the trading price per note for each of such five days was less than 103% of the product of the last reported sale price of our Class A common stock and the conversion rate on such day. Additionally, holders may convert prior to February 15, 2013, if we elect to distribute to all or substantially all of our Class A shareholders (a) rights or warrants to purchase shares of Class A common stock for less than their trading value, or (b) assets, debt securities, or rights to purchase securities, which distribution has a per-share value exceeding 15% of the current trading value of the Class A common stock. Converting holders are entitled to receive, upon conversion of their notes, (1) an amount in cash equal to the lesser of the principal amount of the note and the note's conversion value, and (2) if the conversion value of the note exceeds the principal amount, shares of our Class A common stock in respect of the excess conversion value. The conversion rate of the notes (subject to adjustment upon the occurrence of certain events) is 23.0467 shares per $1,000 principal amount of notes (equivalent to a conversion price of $43.39 per share of Class A common stock). The exact amount payable upon conversion would be determined in accordance with the terms of the indenture pursuant to which the notes were issued and will be based on a daily conversion value calculated on a proportionate basis by reference to the volume-weighted average price of our Class A common stock for each day during a twenty-five day period relating to the conversion. The notes are not redeemable before March 15, 2013. On or after March 15, 2013, we may, at our option, redeem for cash all or part of the notes for a price equal to 100% of the principal amount of the notes to be purchased, plus any accrued and unpaid interest, including any additional interest, up to but excluding the redemption date. On each of March 15, 2013, and March 15, 2021, holders may require that we purchase all or a portion of their notes at a purchase price equal to 100% of the principal amount of the notes to be purchased, plus any accrued and unpaid interest, including any additional interest, up to but excluding the purchase date. Holders also have the right to require that we repurchase notes upon the occurrence of certain fundamental events, including, without limitation, (1) a person or group, other than the Standish family, becoming beneficial owner of shares of common stock carrying more than 50% of the voting power of our common stock, (2) consummation of an exchange offer, tender offer, or similar event whereby our Class A common stock is converted into cash, securities, or other property, or any sale, lease, or other transfer of all or substantially all of our consolidated assets, (3) approval by our stockholders of a plan or proposal of liquidation or dissolution, or (4) the delisting of our Class A common stock under certain circumstances. In connection with the sale of the notes, we entered into hedge and warrant transactions with respect to our Class A common stock. These transactions are intended to reduce the potential dilution upon conversion of the notes by providing us with the option, subject to certain exceptions, to acquire shares in an amount equal to the number of shares that we would be required to deliver upon conversion of the notes. These transactions had the economic effect to the Company of increasing the conversion price of the notes to $52.25 per share. Pursuant to the hedge transactions, if we deliver notice to the counterparties of any conversion of the notes on or prior to March 15, 2013, the counterparties are in the aggregate obligated to deliver to the Company the number of shares of Class A common stock that we are obligated to deliver to the holders of the notes with respect to such conversion, exclusive of any shares deliverable by the Company by reason of any additional (or "make whole") premium relating to the notes or by reason of any election by the Company to unilaterally increase the conversion rate. The note hedge and warrant transactions had a net cost of $14.7 million. Pursuant to the warrant transactions, we sold a total of 4.1 million warrants, each exercisable to buy a single share of Class A common stock at an initial strike price of $52.25 per share. The warrants are American-style warrants (exercisable at any time), and expire over a period of sixty trading days beginning on September 15, 2013. If the warrants are exercised when they expire, we may choose either net cash or net share settlement. If the warrants are exercised before they expire, they must be net share settled. If we elect to net cash settle the warrants, we will pay cash in an amount equal to, for each exercise of warrants, (i) the number of warrants exercised multiplied by (ii) the excess of the volume weighted average price of the our Class A common stock on the expiration date of such warrants (the "settlement price") over the strike price. Under net share settlement, we will deliver to the warrant holders a number of shares of our Class A common stock equal to, for each exercise of warrants, the amount payable upon net cash settlement divided by the settlement price. As of March 31, 2012, the carrying amounts of the debt and equity components of our bifurcated convertible debt instrument were $27.6 million and $25.5 million, respectively. The equity component is included in additional paid-in capital in the equity section of the balance sheet. The convertible feature of the notes, the convertible note hedge, and the warrant transactions each meet the requirements of the applicable accounting guidance to be accounted for as equity instruments. As such, the convertible feature of the notes has not been accounted for as a derivative (which would be marked to market each reporting period) and in the event the debt is converted, no gain or loss is recognized, as the cash payment of principal reduces the recorded liability and the issuance of common shares would be recorded in stockholders' equity. In addition, the amount paid for the call option and the premium received for the warrant were recorded as additional paid-in capital in the accompanying Consolidated Balance Sheets and are not accounted for as derivatives (which would be marked to market each reporting period). Incremental net shares for the convertible note feature and the warrant agreement will be included in future diluted earnings per share calculations for those periods in which our average common stock price exceeds $43.39 per share in the case of the Senior Notes and $49.83 per share in the case of the warrants. The purchased call option is antidilutive and is excluded from the diluted earnings per share calculation. Indebtedness under the note and guaranty agreement, the convertible notes, and the credit agreement is ranked equally in right of payment to all unsecured senior debt. We were in compliance with all debt covenants as of March 31, 2012. </div> </div>

504000

3879000

15000

52000

88000

159000

1111000

513000

6257

6841

808

523

9482

3963

789

642

1182

462

760

130,000,000

4000000

1297

1806

190

110

188

223

730

4446

5170

29411

24451

19416

18798

18385

8945

4440

7877

7869

9985

9566

9114

8740

8664

7907

7874

4376000

-52119000

-9998000

108234000

-4265000

-42668000

21048000

47041000

16733000

47041000

16733000

47041000

16733000

193000

424000

13000000

12400000

647000

26981000

-6065000

-7165000

-25718000

-16993000

-17438000

-7165000

1911000

-1043000

4041000

5371000

46230000

445000

-5371000

50271000

-4041000

-46230000

-4926000

31907000

1556000

1911000

29000

-1043000

30845000

50271000

<div> <div> 1. Basis of Presentation In our opinion, the accompanying unaudited consolidated financial statements contain all adjustments, consisting of only normal, recurring adjustments, necessary for a fair presentation of results for such periods. The results for any interim period are not necessarily indicative of results for the full year. The preparation of financial statements for interim periods does not require all of the disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted. The December 31, 2011 financial position data included herein was derived from the audited consolidated financial statements included in the 2011 Form 10-K but does not include all disclosures required by U.S. GAAP. These consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K as filed with the SEC for the year ended December 31, 2011. Effective with the first quarter of 2012, we merged our Paper Machine Clothing (PMC) and Engineered Fabrics (EF) business segments. The combined segment is called Machine Clothing (MC). The change was made to better align financial reporting with our organizational structure. Additionally, in the fourth quarter of 2011, we announced the sale of our Albany Doors business (ADS) and, beginning with the fourth quarter of 2011, we presented the results of that business as a discontinued operation. In the tables below, we have presented the consolidated income statement and segment data as reported in the first quarter of 2011, and the modifications made to conform to the current year presentation.   <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; WIDTH: 23%" nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; WIDTH: 26%" nowrap="nowrap">As reported</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; WIDTH: 17%" nowrap="nowrap">Reclassify ADS</td> <td style="WIDTH: 17%" nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; WIDTH: 17%" nowrap="nowrap">Q1 2011</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center" nowrap="nowrap"> March 31,</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center" nowrap="nowrap">to discontinued</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center" nowrap="nowrap"> Other</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center" nowrap="nowrap"> reported in</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center" nowrap="nowrap">2011</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center" nowrap="nowrap">operations</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center" nowrap="nowrap">reclassifications</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center" nowrap="nowrap">2012 format</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="BACKGROUND-COLOR: silver; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">Net sales</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> $251,850</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> ($45,128)</td> <td style="TEXT-ALIGN: right; FONT-SIZE: 10pt" nowrap="nowrap">   </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> $206,722</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">Cost of goods sold</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">146,857</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">(28,980)</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">117,877</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="BACKGROUND-COLOR: silver; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">Gross profit</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 104,993</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> (16,148)</td> <td style="FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap"> -</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 88,845</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">    Selling, general, and administrative expenses</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 57,765</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> (10,289)</td> <td nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 47,476</td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">    Technical, product engineering, and research expenses</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 15,135</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> (781)</td> <td style="TEXT-ALIGN: right; FONT-SIZE: 10pt" nowrap="nowrap">   </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 14,354</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">    Restructuring and other, net</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 186</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> (152)</td> <td nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 34</td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">    Pension settlement expense</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> -</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BACKGROUND-COLOR: #bfbfbf; FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">Operating income</td> <td style="BACKGROUND-COLOR: #bfbfbf; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">31,907</td> <td style="BACKGROUND-COLOR: #bfbfbf; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">(4,926)</td> <td style="BACKGROUND-COLOR: silver; FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap"> -</td> <td style="BACKGROUND-COLOR: #bfbfbf; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">26,981</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">    Interest expense, net</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 4,776</td> <td style="FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap"> -</td> <td nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 4,776</td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">    Other expense, net</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">4,869</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">(49)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">(7)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">4,813</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> Income before income taxes</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 22,262</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> (4,877)</td> <td style="FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap">7</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 17,392</td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">    Income tax expense/(benefit)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">5,309</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">(1,321)</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">3,988</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Income from continuing operations before earnings of associated companies</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">  16,953</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">  (3,556)</td> <td style="FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap"> 7</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">  13,404</td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> Equity in losses from associated companies</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">220</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">(227)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap">7</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> -</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> Income from continuing operations</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">  16,733</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">  (3,329)</td> <td style="FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap"> -</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">  13,404</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">    Income from operations of discontinued business</td> <td style="TEXT-ALIGN: right; FONT-SIZE: 10pt" nowrap="nowrap">   </td> <td style="FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap">4,650</td> <td style="TEXT-ALIGN: right; FONT-SIZE: 10pt" nowrap="nowrap">   </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 4,650</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">    Gain on sale of discontinued business</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">  -</td> <td style="FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap"> -</td> <td nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">  -</td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">    Income tax expense on discontinued operations</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap"> 1,321</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 1,321</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> Income from discontinued operations</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">  -</td> <td style="FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap">3,329</td> <td nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 3,329</td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">Net income</td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">$16,733</td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap"> $            -</td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap"> $             -</td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">$16,733</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> Earnings per share - Basic</td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> (Loss)/income from continuing operations</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> $0.54</td> <td style="FONT-SIZE: 10pt" nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt" nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> $0.43</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> Discontinued operations</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 0.00</td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 0.11</td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">Net (loss)/income</td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">$0.54</td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; FONT-SIZE: 10pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; FONT-SIZE: 10pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">$0.54</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> Earnings per share - Diluted</td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> (Loss)/income from continuing operations</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> $0.54</td> <td style="FONT-SIZE: 10pt" nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt" nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> $0.43</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> Discontinued operations</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 0.00</td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 0.10</td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">Net (loss)/income</td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">$0.54</td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; FONT-SIZE: 10pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; FONT-SIZE: 10pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">$0.53</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> Shares used in computing earnings per share:</td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">   Basic</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 31,223</td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 31,223</td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">   Diluted</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 31,384</td> <td style="FONT-SIZE: 10pt" nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt" nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 31,384</td> </tr> </table>   <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Modifications to segment reporting</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap"> </td> <td nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap">Reclassify ADS</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap">Q1 2011</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom" nowrap="nowrap">Net sales</td> <td nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap">As reported</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap">to discontinued</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap">Merger of PMC</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap">reported in</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 40%; VERTICAL-ALIGN: bottom" nowrap="nowrap">(000's)</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 3%" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle; WIDTH: 11%" nowrap="nowrap"> Q1 2011</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 1%; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 3%; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle; WIDTH: 11%" nowrap="nowrap"> operations</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 1%; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 3%; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle; WIDTH: 11%" nowrap="nowrap"> PMC and EF</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 1%; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 3%; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: middle; WIDTH: 11%" nowrap="nowrap"> 2012 format</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 1%; VERTICAL-ALIGN: middle" nowrap="nowrap"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> PMC</td> <td> </td> <td style="TEXT-ALIGN: right">167,896</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(167,896</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right">-  </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Machine Clothing</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">188,482</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">188,482</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Doors</td> <td> </td> <td style="TEXT-ALIGN: right">45,128</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(45,128</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">-  </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> EF</td> <td> </td> <td style="TEXT-ALIGN: right">20,586</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(20,586</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right">-  </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Composites</td> <td> </td> <td style="TEXT-ALIGN: right">11,472</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">11,472</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left; VERTICAL-ALIGN: bottom"> PrimaLoft® Products</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 6,768</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 6,768</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Total</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 251,850</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (45,128</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 206,722</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom">  </td> <td> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> Reclassify ADS</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> Q1 2011</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Gross profit</td> <td> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> As reported</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> to discontinued</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> Merger of PMC</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> reported in</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> (000's)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  Q1 2011</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  operations</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  PMC and EF</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  2012 format</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> PMC</td> <td> </td> <td style="TEXT-ALIGN: right">78,320</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(78,320</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right">-  </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Machine Clothing</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">86,537</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">86,537</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Doors</td> <td> </td> <td style="TEXT-ALIGN: right">16,148</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(16,148</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">-  </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> EF</td> <td> </td> <td style="TEXT-ALIGN: right">8,217</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(8,217</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right">-  </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Composites</td> <td> </td> <td style="TEXT-ALIGN: right">(19</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(19</td> <td style="TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left; VERTICAL-ALIGN: bottom"> PrimaLoft® Products</td> <td> </td> <td style="TEXT-ALIGN: right">3,657</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">3,657</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Non Segment</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (1,330</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (1,330</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Total</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 104,993</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (16,148</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 88,845</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom">  </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom">  </td> <td> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> Reclassify ADS</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> Q1 2011</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Operating income</td> <td> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> As reported</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> to discontinued</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> Merger of PMC</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> reported in</td> <td style="TEXT-ALIGN: center; VERTICAL-ALIGN: bottom"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> (000's)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  Q1 2011</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  operations</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  PMC and EF</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  2012 format</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> PMC</td> <td> </td> <td style="TEXT-ALIGN: right">46,230</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(46,230</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right">-  </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Machine Clothing</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">50,271</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">50,271</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Doors</td> <td> </td> <td style="TEXT-ALIGN: right">5,371</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(5,371</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">-  </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> EF</td> <td> </td> <td style="TEXT-ALIGN: right">4,041</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(4,041</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right">-  </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Composites</td> <td> </td> <td style="TEXT-ALIGN: right">(1,043</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(1,043</td> <td style="TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt; TEXT-ALIGN: left; VERTICAL-ALIGN: bottom"> PrimaLoft® Products</td> <td> </td> <td style="TEXT-ALIGN: right">1,911</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">1,911</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Research</td> <td> </td> <td style="TEXT-ALIGN: right">(7,165</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(7,165</td> <td style="TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Non Segment</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (17,438</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 445</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (16,993</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; VERTICAL-ALIGN: bottom"> Total</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 31,907</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (4,926</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 26,981</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> </table> </div> </div>

36448000

22504000

-908000

-1165000

-523000

-400000

-211000

-135000

257000

-8153000

2144000

13318000

25912000

19327000

20281000

27204000

19000

22000

2577000

2175000

-346000

660000

<div> <div> 6. Other Expense, net Other expense, net consists of the following: <table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="5" nowrap="nowrap">Three Months Ended</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td style="TEXT-ALIGN: center" colspan="5">March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2012</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2011</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 77%; COLOR: black"> Currency transactions</td> <td style="TEXT-ALIGN: right; WIDTH: 9%">$3,832</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 3%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 9%">$3,866</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; COLOR: black"> Amortization of debt issuance costs and loan origination fees</td> <td style="TEXT-ALIGN: right">676</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">486</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Letter of credit fees</td> <td style="TEXT-ALIGN: right">419</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">603</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt; COLOR: black"> Other</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (379</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (142</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt; COLOR: black"> Total</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $4,548</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $4,813</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> </table> </div> </div>

127993000

185648000

379000

142000

-4548000

-4813000

-4869000

49000

7000

8153000

4069000

3744000

4309000

4919000

30000

1047000

5.0

2000000

13464000

13409000

130000000

112573000

9000000

640000

1701000

189000

109000

434266000

439516000

<div> <div> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; WIDTH: 23%" nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; WIDTH: 26%" nowrap="nowrap">As reported</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; WIDTH: 17%" nowrap="nowrap">Reclassify ADS</td> <td style="WIDTH: 17%" nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center; WIDTH: 17%" nowrap="nowrap">Q1 2011</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center" nowrap="nowrap"> March 31,</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center" nowrap="nowrap">to discontinued</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center" nowrap="nowrap"> Other</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center" nowrap="nowrap"> reported in</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center" nowrap="nowrap">2011</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center" nowrap="nowrap">operations</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center" nowrap="nowrap">reclassifications</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: center" nowrap="nowrap">2012 format</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="BACKGROUND-COLOR: silver; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">Net sales</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> $251,850</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> ($45,128)</td> <td style="TEXT-ALIGN: right; FONT-SIZE: 10pt" nowrap="nowrap">   </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> $206,722</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">Cost of goods sold</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">146,857</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">(28,980)</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">117,877</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="BACKGROUND-COLOR: silver; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">Gross profit</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 104,993</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> (16,148)</td> <td style="FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap"> -</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 88,845</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">    Selling, general, and administrative expenses</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 57,765</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> (10,289)</td> <td nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 47,476</td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">    Technical, product engineering, and research expenses</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 15,135</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> (781)</td> <td style="TEXT-ALIGN: right; FONT-SIZE: 10pt" nowrap="nowrap">   </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 14,354</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">    Restructuring and other, net</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 186</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> (152)</td> <td nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 34</td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">    Pension settlement expense</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> -</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BACKGROUND-COLOR: #bfbfbf; FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">Operating income</td> <td style="BACKGROUND-COLOR: #bfbfbf; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">31,907</td> <td style="BACKGROUND-COLOR: #bfbfbf; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">(4,926)</td> <td style="BACKGROUND-COLOR: silver; FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap"> -</td> <td style="BACKGROUND-COLOR: #bfbfbf; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">26,981</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">    Interest expense, net</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 4,776</td> <td style="FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap"> -</td> <td nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 4,776</td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">    Other expense, net</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">4,869</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">(49)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">(7)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">4,813</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> Income before income taxes</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 22,262</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> (4,877)</td> <td style="FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap">7</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 17,392</td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">    Income tax expense/(benefit)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">5,309</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">(1,321)</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">3,988</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Income from continuing operations before earnings of associated companies</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">  16,953</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">  (3,556)</td> <td style="FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap"> 7</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">  13,404</td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> Equity in losses from associated companies</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">220</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">(227)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap">7</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> -</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> Income from continuing operations</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">  16,733</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">  (3,329)</td> <td style="FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap"> -</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">  13,404</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">    Income from operations of discontinued business</td> <td style="TEXT-ALIGN: right; FONT-SIZE: 10pt" nowrap="nowrap">   </td> <td style="FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap">4,650</td> <td style="TEXT-ALIGN: right; FONT-SIZE: 10pt" nowrap="nowrap">   </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 4,650</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">    Gain on sale of discontinued business</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">  -</td> <td style="FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap"> -</td> <td nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">  -</td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">    Income tax expense on discontinued operations</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap"> 1,321</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 1,321</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> Income from discontinued operations</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">  -</td> <td style="FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap">3,329</td> <td nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 3,329</td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">Net income</td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">$16,733</td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap"> $            -</td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; PADDING-RIGHT: 5px; TEXT-ALIGN: right" nowrap="nowrap"> $             -</td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">$16,733</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> Earnings per share - Basic</td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> (Loss)/income from continuing operations</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> $0.54</td> <td style="FONT-SIZE: 10pt" nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt" nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> $0.43</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> Discontinued operations</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 0.00</td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 0.11</td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">Net (loss)/income</td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">$0.54</td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; FONT-SIZE: 10pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; FONT-SIZE: 10pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">$0.54</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> Earnings per share - Diluted</td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> (Loss)/income from continuing operations</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> $0.54</td> <td style="FONT-SIZE: 10pt" nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt" nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> $0.43</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> Discontinued operations</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 0.00</td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 0.10</td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">Net (loss)/income</td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">$0.54</td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; FONT-SIZE: 10pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; FONT-SIZE: 10pt; BORDER-TOP: windowtext 1pt solid" nowrap="nowrap">  </td> <td style="BORDER-BOTTOM: windowtext 2.25pt double; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap">$0.53</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left" nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap"> Shares used in computing earnings per share:</td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">   Basic</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 31,223</td> <td nowrap="nowrap">  </td> <td nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 31,223</td> </tr> <tr style="BACKGROUND-COLOR: #bfbfbf; VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left" nowrap="nowrap">   Diluted</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 31,384</td> <td style="FONT-SIZE: 10pt" nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt" nowrap="nowrap">  </td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right" nowrap="nowrap"> 31,384</td> </tr> </table> </div> </div>

57242000

7017000

837000

340000

<div> <div> 5. Restructuring Net restructuring expenses in 2012 were principally related to the previously announced curtailment of manufacturing in New York and Wisconsin. Those costs were partially offset by a reduction in accruals related to the relocation of the Company's headquarters. The following tables summarize charges reported in the Statement of Operations under "Restructuring and other, net" for the first three months of 2012 and 2011: <table style="WIDTH: 70%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="5" nowrap="nowrap">Three months ended</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td style="TEXT-ALIGN: center" colspan="5">March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 2012</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 2011</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 68%"> Machine Clothing</td> <td style="WIDTH: 9%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 9%">$673</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 3%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 9%">$33</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Engineered Composites</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">13</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt"> Unallocated</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (415</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (12</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt; COLOR: black"> Total</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $258</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $34</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> </table>   The tables below present year-to-date summaries of changes in restructuring liabilities for 2012 and 2011: <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; WIDTH: 15%"> (in thousands)</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; WIDTH: 17%"> Restructuring charges accrued December 31, 2011</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; WIDTH: 17%"> New accruals</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; WIDTH: 15%"> Payments</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; WIDTH: 16%"> Currency translation/ other</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; WIDTH: 20%" nowrap="nowrap">Restructuring charges accrued March 31, 2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 11pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 11pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 11pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 11pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 11pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 11pt" nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Termination costs</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">$6,979</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">$803</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">($1,536)</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">$59</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">$6,305</td> </tr> </table>   <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; WIDTH: 15%"> (in thousands)</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; WIDTH: 17%"> Restructuring charges accrued December 31, 2010</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; WIDTH: 17%"> New accruals</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; WIDTH: 14%"> Payments</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; WIDTH: 16%"> Currency translation/ other</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-TOP: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right; WIDTH: 21%" nowrap="nowrap">Restructuring charges accrued March 31, 2011</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 11pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 11pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 11pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 11pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 11pt" nowrap="nowrap">  </td> <td style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 11pt" nowrap="nowrap">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt"> Termination costs</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">$2,809</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; FONT-SIZE: 11pt" nowrap="nowrap">                         -   </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">($1,104)</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">$103</td> <td style="BORDER-BOTTOM: windowtext 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; TEXT-ALIGN: right" nowrap="nowrap">$1,808</td> </tr> </table> We expect that substantially all accruals for restructuring liabilities as of March 31, 2012 will be paid within one year. </div> </div>

258000

34000

-415000

-12000

186000

-152000

673000

33000

13000

6305000

6979000

1808000

2809000

803000

1536000

1104000

59000

103000

465016000

422044000

188553000

206722000

251850000

-45128000

167896000

45128000

20586000

11472000

6768000

-45128000

-167896000

188482000

-20586000

164288000

188482000

15789000

11472000

8476000

6768000

<div> <div> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt; VERTICAL-ALIGN: bottom; WIDTH: 45%"> (in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; WIDTH: 23%"> Balance sheet caption</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 1.5pt; WIDTH: 2%; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid">   </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-LEFT: 1.5pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; WIDTH: 11%"> March 31, 2012</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%; FONT-SIZE: 12pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; WIDTH: 2%; FONT-SIZE: 12pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid">   </td> <td style="BORDER-BOTTOM: black 1pt solid; BORDER-TOP: black 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom; WIDTH: 13%"> December 31, 2011</td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 2%; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top; BORDER-TOP: black 1pt solid">   </td> </tr> <tr> <td style="PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-LEFT: 1.5pt; VERTICAL-ALIGN: bottom"> Asset Derivatives</td> <td style="PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="TEXT-ALIGN: center; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt; VERTICAL-ALIGN: top"> Derivatives not designated as hedging instruments:</td> <td style="PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">  </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-LEFT: 1.5pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-LEFT: 1.5pt; VERTICAL-ALIGN: bottom">   Foreign exchange contracts</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.3pt; VERTICAL-ALIGN: bottom"> Other assets</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> $-</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> $1</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 1.8pt; VERTICAL-ALIGN: top" colspan="2">Total asset derivatives not designated as hedging instruments</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> $-</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> $1</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; VERTICAL-ALIGN: bottom"> Total asset derivatives</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> $-</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> $1</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-RIGHT: 0.8pt; VERTICAL-ALIGN: bottom"> Liability Derivatives</td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="FONT-SIZE: 11pt; PADDING-RIGHT: 1.8pt; VERTICAL-ALIGN: top" colspan="2">Derivatives designated as hedging instruments:</td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; VERTICAL-ALIGN: bottom">   Interest rate swap</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; VERTICAL-ALIGN: bottom"> Other noncurrent liabilities</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> ($4,597</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom"> )  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> ($4,251</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top"> )  </td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 1.8pt; VERTICAL-ALIGN: top" colspan="2">Total liability derivatives designated as hedging instruments</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> ($4,597</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom"> )  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> ($4,251</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top"> )  </td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; VERTICAL-ALIGN: bottom"> Total liability derivatives</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> ($4,597</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom"> )  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> ($4,251</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top"> )  </td> </tr> <tr> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; VERTICAL-ALIGN: bottom"> Total derivatives</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom">   </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; FONT-WEIGHT: bold; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> ($4,597</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: bottom"> )  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 11pt; PADDING-RIGHT: 0.8pt; TEXT-ALIGN: right; VERTICAL-ALIGN: bottom"> ($4,250)</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-RIGHT: 0.8pt; FONT-SIZE: 11pt; VERTICAL-ALIGN: top">   </td> </tr> </table> </div> </div>

<div> <div> 3. Reportable Segment Data The following table shows data by reportable segment, reconciled to consolidated totals included in the financial statements: <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="5">Three Months Ended</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td style="TEXT-ALIGN: center" colspan="5">March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 2012</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 2011</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold"> Net Sales</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 68%">  Machine Clothing</td> <td style="WIDTH: 9%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 9%">$164,288</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="WIDTH: 3%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 9%">$188,482</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Engineered Composites</td> <td> </td> <td style="TEXT-ALIGN: right">15,789</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">11,472</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt">  PrimaLoft® Products</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 8,476</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 6,768</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">  Consolidated total</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $188,553</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $206,722</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold"> Operating income</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Machine Clothing</td> <td> </td> <td style="TEXT-ALIGN: right">$30,845</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">$50,271</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Engineered Composites</td> <td> </td> <td style="TEXT-ALIGN: right">29</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">(1,043</td> <td style="TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 5.4pt">  PrimaLoft® Products</td> <td> </td> <td style="TEXT-ALIGN: right">1,556</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">1,911</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Research expense</td> <td> </td> <td style="TEXT-ALIGN: right">(6,065</td> <td style="TEXT-ALIGN: left">)</td> <td> </td> <td style="TEXT-ALIGN: right">(7,165</td> <td style="TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">  Unallocated expenses</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (25,718</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (16,993</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Operating income before reconciling items</td> <td> </td> <td style="TEXT-ALIGN: right">647</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">26,981</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold"> Reconciling items:</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Interest expense, net</td> <td> </td> <td style="TEXT-ALIGN: right">4,644</td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right">4,776</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">  Other expense, net</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 4,548</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 4,813</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">  (Loss)/income before income taxes</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> ($8,545</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $17,392</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> </table>   The table below presents restructuring costs by reportable segment for the three month period ended March 31, 2012 and 2011: <table style="WIDTH: 70%; BORDER-COLLAPSE: collapse; FONT: 10pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="BORDER-TOP: black 1pt solid"> </td> <td style="TEXT-ALIGN: center; BORDER-TOP: black 1pt solid" colspan="5" nowrap="nowrap">Three Months Ended</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td style="TEXT-ALIGN: center" colspan="5">March 31,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> 2012</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 2011</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td colspan="2"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold"> Restructuring expense</td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> <td> </td> <td style="TEXT-ALIGN: right"> </td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt; WIDTH: 68%">  Machine Clothing</td> <td style="WIDTH: 9%; FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; WIDTH: 9%; FONT-WEIGHT: bold"> $673</td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-WEIGHT: bold">  </td> <td style="WIDTH: 3%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 9%">$33</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Engineered Composites</td> <td style="FONT-WEIGHT: bold"> </td> <td style="TEXT-ALIGN: right; FONT-WEIGHT: bold">-</td> <td style="TEXT-ALIGN: left; FONT-WEIGHT: bold"> </td> <td> </td> <td style="TEXT-ALIGN: right">13</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt">  Unallocated</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> (415</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (12</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">  Consolidated total</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $258</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid"> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> $34</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> </tr> </table> The 2012 expense was principally due to organizational changes associated with the integration of PMC and Engineered Fabrics. The 2011 expense was principally due to the same integration and the substantial completion of the SAP conversion project. Except for the merger of PMC and Engineered Fabrics into Machine Clothing, there were no material changes in the total assets of reportable segments during this period. </div> </div>

48815000

47476000

57765000

-10289000

50000000

8700000

-300000

479219000

415850000

37000

3000

391611000

391495000

465016000

422044000

-119528000

-139809000

-257920000

<div> <div> 14. Changes in Stockholders' Equity The following table summarizes changes in Stockholders' Equity: <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 9pt Arial, Helvetica, Sans-Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; VERTICAL-ALIGN: middle; BORDER-TOP: black 1pt solid" nowrap="nowrap">(in thousands)</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: middle; BORDER-TOP: black 1pt solid" colspan="2" nowrap="nowrap">Class A Common Stock</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: middle; BORDER-TOP: black 1pt solid" colspan="2" nowrap="nowrap">Class B Common Stock</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: middle; BORDER-TOP: black 1pt solid" colspan="2" nowrap="nowrap">Additional paid in capital</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: middle; BORDER-TOP: black 1pt solid" colspan="2" nowrap="nowrap">Retained earnings</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: middle; BORDER-TOP: black 1pt solid" colspan="2" nowrap="nowrap">Accumulated items of other comprehensive income</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: middle; BORDER-TOP: black 1pt solid" colspan="2" nowrap="nowrap">Treasury stock</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; PADDING-LEFT: 6pt; PADDING-RIGHT: 3pt; VERTICAL-ALIGN: middle; BORDER-TOP: black 1pt solid" colspan="2" nowrap="nowrap">Total Shareholders' Equity</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-LEFT: 5.4pt; WIDTH: 50%">December 31, 2011</td> <td style="TEXT-ALIGN: right; WIDTH: 7%">$37</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 6%">$3</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 6%">$391,495</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 6%">$422,044</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="TEXT-ALIGN: right; WIDTH: 6%">($139,809</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">)</td> <td style="TEXT-ALIGN: right; WIDTH: 6%">($257,920</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">)</td> <td style="TEXT-ALIGN: right; WIDTH: 6%">$415,850</td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Net income</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">47,041</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">47,041</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Dividends declared</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">(4,069</td> <td style="TEXT-ALIGN: left">)</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">(4,069</td> <td style="TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -5pt; PADDING-LEFT: 10.4pt"> Compensation and benefits paid or payable in Class A Common Stock</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">(76</td> <td style="TEXT-ALIGN: left">)</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">(76</td> <td style="TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Options exercised</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">192</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">192</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Cumulative translation adjustment</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">19,327</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">19,327</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-LEFT: 5.4pt">Amortization of pension liability</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">1,165</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left"> </td> <td style="TEXT-ALIGN: right">1,165</td> <td style="TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 5.4pt"> Change in derivative valuation adjustment</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (211</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (211</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-LEFT: 5.4pt; FONT-WEIGHT: bold"> March 31, 2012</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $37</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $3</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $391,611</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $465,016</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold">  </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> ($119,528</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> ($257,920</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"> )</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"> $479,219</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold">  </td> </tr> </table> </div> </div>

-76000

192000

38000000

115000000

105000000

<div> <div> 16. Subsequent Events On April 25, 2012, we completed an agreement that transferred to MassMutual the liability for future pension payments to certain retirees.  The Company's U.S. pension plan transferred approximately $176 million to MassMutual, and MassMutual will have the responsibility for pension payments to all U.S. retirees that were receiving pension payments as of December 31, 2011.  The Company's pension plan retains the liability for pensions of deferred vested and active employees.  The transaction will result in a settlement charge in the second quarter of 2012.  The amount of the settlement charge is expected to be in the range of $105 to $115 million. On May 2, 2012, the Company announced that it had reached an agreement to sell its PrimaLoft® Products business for $38 million. We expect that transaction to close during the second quarter of 2012 and, in future quarters, the business will be reported as a discontinued operation. </div> </div>

-7000000

8479487

8484528

257920000

22900000

-2700000

31533000

31384000

31309000

31223000

ISO4217:USD ISO4217:USD xbrli:shares xbrli:pure ain:Claims ain:Audits xbrli:shares ISO4217:USD ain:Warrant 0000819793 us-gaap:SaleMember 2012-04-01 2012-05-02 0000819793 ain:SettlementOfPensionLiabilityMember 2012-04-01 2012-04-25 0000819793 ain:BrandonDryingFabricsIncMember us-gaap:AsbestosIssueMember 2012-01-01 2012-04-25 0000819793 us-gaap:AsbestosIssueMember 2012-01-01 2012-04-25 0000819793 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherComprehensiveIncomeMember 2012-01-01 2012-03-31 0000819793 us-gaap:InterestRateSwapMember 2012-01-01 2012-03-31 0000819793 us-gaap:ForeignPensionPlansDefinedBenefitMember 2012-01-01 2012-03-31 0000819793 us-gaap:ForeignExchangeOptionMember us-gaap:NondesignatedMember us-gaap:OtherExpenseMember 2012-01-01 2012-03-31 0000819793 us-gaap:ConvertibleDebtMember 2012-01-01 2012-03-31 0000819793 us-gaap:ResearchAndDevelopmentExpenseMember 2012-01-01 2012-03-31 0000819793 us-gaap:UnallocatedAmountToSegmentMember 2012-01-01 2012-03-31 0000819793 us-gaap:CommonClassBMember 2012-01-01 2012-03-31 0000819793 ain:GermanTaxAuthorityMember us-gaap:MinimumMember 2012-01-01 2012-03-31 0000819793 ain:GermanTaxAuthorityMember us-gaap:MaximumMember 2012-01-01 2012-03-31 0000819793 ain:CanadianRevenueAgencyMember us-gaap:MinimumMember 2012-01-01 2012-03-31 0000819793 ain:CanadianRevenueAgencyMember us-gaap:MaximumMember 2012-01-01 2012-03-31 0000819793 ain:CanadianRevenueAgencyMember ain:SettlementOfTaxExaminationMember 2012-01-01 2012-03-31 0000819793 ain:CanadianRevenueAgencyMember 2012-01-01 2012-03-31 0000819793 ain:BrandonDryingFabricsIncMember 2012-01-01 2012-03-31 0000819793 ain:MachineClothingMember 2012-01-01 2012-03-31 0000819793 ain:PrimaloftProductsMember 2012-01-01 2012-03-31 0000819793 ain:EngineeredCompositesMember 2012-01-01 2012-03-31 0000819793 us-gaap:DevelopedTechnologyRightsMember 2012-01-01 2012-03-31 0000819793 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2012-01-01 2012-03-31 0000819793 us-gaap:RetainedEarningsMember 2012-01-01 2012-03-31 0000819793 us-gaap:AdditionalPaidInCapitalMember 2012-01-01 2012-03-31 0000819793 us-gaap:CustomerContractsMember 2012-01-01 2012-03-31 0000819793 us-gaap:AsbestosIssueMember 2012-01-01 2012-03-31 0000819793 us-gaap:CommonClassAMember 2012-01-01 2012-03-31 0000819793 us-gaap:EmployeeSeveranceMember 2012-01-01 2012-03-31 0000819793 us-gaap:TreasuryStockMember 2012-01-01 2012-03-31 0000819793 us-gaap:TradeNamesMember 2012-01-01 2012-03-31 0000819793 us-gaap:PensionPlansDefinedBenefitMember 2012-01-01 2012-03-31 0000819793 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2012-01-01 2012-03-31 0000819793 us-gaap:NotesPayableOtherPayablesMember 2012-01-01 2012-03-31 0000819793 us-gaap:NotesPayableToBanksMember 2012-01-01 2012-03-31 0000819793 us-gaap:LineOfCreditMember 2012-01-01 2012-03-31 0000819793 2012-01-01 2012-03-31 0000819793 ain:AlbanyDoorSystemsMember 2012-01-01 2012-01-11 0000819793 ain:GermanTaxAuthorityMember 2011-01-01 2011-12-31 0000819793 ain:BrandonDryingFabricsIncMember us-gaap:AsbestosIssueMember 2011-01-01 2011-12-31 0000819793 ain:AlbanyDoorSystemsMember 2011-01-01 2011-12-31 0000819793 us-gaap:AsbestosIssueMember 2011-01-01 2011-12-31 0000819793 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherComprehensiveIncomeMember 2011-01-01 2011-03-31 0000819793 us-gaap:InterestRateSwapMember 2011-01-01 2011-03-31 0000819793 us-gaap:ForeignExchangeOptionMember us-gaap:NondesignatedMember us-gaap:OtherExpenseMember 2011-01-01 2011-03-31 0000819793 us-gaap:ResearchAndDevelopmentExpenseMember us-gaap:ScenarioPreviouslyReportedMember 2011-01-01 2011-03-31 0000819793 us-gaap:ResearchAndDevelopmentExpenseMember 2011-01-01 2011-03-31 0000819793 us-gaap:UnallocatedAmountToSegmentMember us-gaap:ScenarioAdjustmentMember 2011-01-01 2011-03-31 0000819793 us-gaap:UnallocatedAmountToSegmentMember us-gaap:ScenarioPreviouslyReportedMember 2011-01-01 2011-03-31 0000819793 us-gaap:UnallocatedAmountToSegmentMember 2011-01-01 2011-03-31 0000819793 ain:MergerOfPaperMachineClothingAndEngineeredFabricsSegmentsMember 2011-01-01 2011-03-31 0000819793 ain:OtherReclassificationsMember 2011-01-01 2011-03-31 0000819793 ain:MachineClothingMember ain:MergerOfPaperMachineClothingAndEngineeredFabricsSegmentsMember 2011-01-01 2011-03-31 0000819793 ain:MachineClothingMember 2011-01-01 2011-03-31 0000819793 ain:PrimaloftProductsMember us-gaap:ScenarioPreviouslyReportedMember 2011-01-01 2011-03-31 0000819793 ain:PrimaloftProductsMember 2011-01-01 2011-03-31 0000819793 ain:EngineeredCompositesMember us-gaap:ScenarioPreviouslyReportedMember 2011-01-01 2011-03-31 0000819793 ain:EngineeredCompositesMember 2011-01-01 2011-03-31 0000819793 ain:EngineeredFabricsMember ain:MergerOfPaperMachineClothingAndEngineeredFabricsSegmentsMember 2011-01-01 2011-03-31 0000819793 ain:EngineeredFabricsMember us-gaap:ScenarioPreviouslyReportedMember 2011-01-01 2011-03-31 0000819793 ain:PaperMachineClothingMember ain:MergerOfPaperMachineClothingAndEngineeredFabricsSegmentsMember 2011-01-01 2011-03-31 0000819793 ain:PaperMachineClothingMember us-gaap:ScenarioPreviouslyReportedMember 2011-01-01 2011-03-31 0000819793 ain:AlbanyDoorSystemsMember 2011-01-01 2011-03-31 0000819793 ain:AlbanyDoorSystemsMember us-gaap:ScenarioAdjustmentMember 2011-01-01 2011-03-31 0000819793 ain:AlbanyDoorSystemsMember us-gaap:ScenarioPreviouslyReportedMember 2011-01-01 2011-03-31 0000819793 us-gaap:ScenarioAdjustmentMember 2011-01-01 2011-03-31 0000819793 us-gaap:ScenarioPreviouslyReportedMember 2011-01-01 2011-03-31 0000819793 us-gaap:EmployeeSeveranceMember 2011-01-01 2011-03-31 0000819793 us-gaap:PensionPlansDefinedBenefitMember 2011-01-01 2011-03-31 0000819793 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2011-01-01 2011-03-31 0000819793 2011-01-01 2011-03-31 0000819793 ain:BrandonDryingFabricsIncMember us-gaap:AsbestosIssueMember 2010-01-01 2010-12-31 0000819793 us-gaap:AsbestosIssueMember 2010-01-01 2010-12-31 0000819793 ain:BrandonDryingFabricsIncMember us-gaap:AsbestosIssueMember 2009-01-01 2009-12-31 0000819793 us-gaap:AsbestosIssueMember 2009-01-01 2009-12-31 0000819793 ain:BrandonDryingFabricsIncMember us-gaap:AsbestosIssueMember 2008-01-01 2008-12-31 0000819793 us-gaap:AsbestosIssueMember 2008-01-01 2008-12-31 0000819793 ain:BrandonDryingFabricsIncMember us-gaap:AsbestosIssueMember 2007-01-01 2007-12-31 0000819793 us-gaap:AsbestosIssueMember 2007-01-01 2007-12-31 0000819793 ain:BrandonDryingFabricsIncMember us-gaap:AsbestosIssueMember 2006-01-01 2006-12-31 0000819793 us-gaap:AsbestosIssueMember 2006-01-01 2006-12-31 0000819793 ain:BrandonDryingFabricsIncMember us-gaap:AsbestosIssueMember 2005-01-01 2005-12-31 0000819793 us-gaap:AsbestosIssueMember 2005-01-01 2005-12-31 0000819793 ain:BrandonDryingFabricsIncMember us-gaap:AsbestosIssueMember 2012-04-25 0000819793 us-gaap:AsbestosIssueMember 2012-04-25 0000819793 us-gaap:InterestRateSwapMember ain:OtherNoncurrentLiabilitiesMember us-gaap:DesignatedAsHedgingInstrumentMember 2012-03-31 0000819793 us-gaap:InterestRateSwapMember us-gaap:LineOfCreditMember us-gaap:MinimumMember 2012-03-31 0000819793 us-gaap:InterestRateSwapMember us-gaap:LineOfCreditMember us-gaap:MaximumMember 2012-03-31 0000819793 us-gaap:DesignatedAsHedgingInstrumentMember 2012-03-31 0000819793 us-gaap:NondesignatedMember 2012-03-31 0000819793 us-gaap:ForeignExchangeContractMember us-gaap:OtherAssetsMember us-gaap:NondesignatedMember 2012-03-31 0000819793 us-gaap:ConvertibleDebtMember 2012-03-31 0000819793 us-gaap:CommonClassBMember 2012-03-31 0000819793 us-gaap:CommonClassBMember 2012-03-31 0000819793 ain:CancelledLitigationMember ain:NaftaAuditsMember 2012-03-31 0000819793 ain:PendingLitigationMember ain:NaftaAuditsMember 2012-03-31 0000819793 ain:NaftaAuditsMember 2012-03-31 0000819793 ain:GermanTaxAuthorityMember 2012-03-31 0000819793 ain:CanadianRevenueAgencyMember us-gaap:LetterOfCreditMember 2012-03-31 0000819793 ain:CanadianRevenueAgencyMember 2012-03-31 0000819793 ain:AlbanyDoorSystemsMember 2012-03-31 0000819793 us-gaap:DevelopedTechnologyRightsMember 2012-03-31 0000819793 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2012-03-31 0000819793 us-gaap:RetainedEarningsMember 2012-03-31 0000819793 us-gaap:AdditionalPaidInCapitalMember 2012-03-31 0000819793 us-gaap:CustomerContractsMember 2012-03-31 0000819793 us-gaap:CommonClassAMember 2012-03-31 0000819793 us-gaap:CommonClassAMember 2012-03-31 0000819793 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2012-03-31 0000819793 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2012-03-31 0000819793 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2012-03-31 0000819793 us-gaap:EmployeeSeveranceMember 2012-03-31 0000819793 us-gaap:TreasuryStockMember 2012-03-31 0000819793 us-gaap:TradeNamesMember 2012-03-31 0000819793 us-gaap:WarrantsMember 2012-03-31 0000819793 us-gaap:SeniorNotesMember 2012-03-31 0000819793 us-gaap:NotesPayableOtherPayablesMember 2012-03-31 0000819793 us-gaap:NotesPayableToBanksMember 2012-03-31 0000819793 us-gaap:LineOfCreditMember 2012-03-31 0000819793 2012-03-31 0000819793 us-gaap:InterestRateSwapMember us-gaap:LineOfCreditMember 2012-01-17 0000819793 us-gaap:InterestRateSwapMember ain:OtherNoncurrentLiabilitiesMember us-gaap:DesignatedAsHedgingInstrumentMember 2011-12-31 0000819793 us-gaap:DesignatedAsHedgingInstrumentMember 2011-12-31 0000819793 us-gaap:NondesignatedMember 2011-12-31 0000819793 us-gaap:ForeignExchangeContractMember us-gaap:OtherAssetsMember us-gaap:NondesignatedMember 2011-12-31 0000819793 us-gaap:ConvertibleDebtMember 2011-12-31 0000819793 us-gaap:CommonClassBMember 2011-12-31 0000819793 us-gaap:CommonClassBMember 2011-12-31 0000819793 ain:BrandonDryingFabricsIncMember us-gaap:AsbestosIssueMember 2011-12-31 0000819793 ain:AlbanyDoorSystemsMember 2011-12-31 0000819793 us-gaap:DevelopedTechnologyRightsMember 2011-12-31 0000819793 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2011-12-31 0000819793 us-gaap:RetainedEarningsMember 2011-12-31 0000819793 us-gaap:AdditionalPaidInCapitalMember 2011-12-31 0000819793 us-gaap:CustomerContractsMember 2011-12-31 0000819793 us-gaap:AsbestosIssueMember 2011-12-31 0000819793 us-gaap:CommonClassAMember 2011-12-31 0000819793 us-gaap:CommonClassAMember 2011-12-31 0000819793 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2011-12-31 0000819793 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2011-12-31 0000819793 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueMeasurementsRecurringMember 2011-12-31 0000819793 us-gaap:EmployeeSeveranceMember 2011-12-31 0000819793 us-gaap:TreasuryStockMember 2011-12-31 0000819793 us-gaap:TradeNamesMember 2011-12-31 0000819793 us-gaap:NotesPayableOtherPayablesMember 2011-12-31 0000819793 us-gaap:NotesPayableToBanksMember 2011-12-31 0000819793 us-gaap:LineOfCreditMember 2011-12-31 0000819793 2011-12-31 0000819793 us-gaap:CommonClassBMember 2011-03-31 0000819793 us-gaap:CommonClassAMember 2011-03-31 0000819793 us-gaap:EmployeeSeveranceMember 2011-03-31 0000819793 2011-03-31 0000819793 ain:BrandonDryingFabricsIncMember us-gaap:AsbestosIssueMember 2010-12-31 0000819793 us-gaap:AsbestosIssueMember 2010-12-31 0000819793 us-gaap:EmployeeSeveranceMember 2010-12-31 0000819793 2010-12-31 0000819793 us-gaap:InterestRateSwapMember us-gaap:LineOfCreditMember 2010-07-16 0000819793 us-gaap:InterestRateSwapMember us-gaap:LineOfCreditMember 2010-07-16 0000819793 us-gaap:LineOfCreditMember 2010-07-16 0000819793 ain:BrandonDryingFabricsIncMember us-gaap:AsbestosIssueMember 2009-12-31 0000819793 us-gaap:AsbestosIssueMember 2009-12-31 0000819793 ain:BrandonDryingFabricsIncMember us-gaap:AsbestosIssueMember 2008-12-31 0000819793 us-gaap:AsbestosIssueMember 2008-12-31 0000819793 ain:BrandonDryingFabricsIncMember us-gaap:AsbestosIssueMember 2007-12-31 0000819793 us-gaap:AsbestosIssueMember 2007-12-31 0000819793 ain:PreviousLineOfCreditMember 2006-12-31 0000819793 ain:BrandonDryingFabricsIncMember us-gaap:AsbestosIssueMember 2006-12-31 0000819793 us-gaap:AsbestosIssueMember 2006-12-31 0000819793 us-gaap:ConvertibleDebtMember 2006-03-31 0000819793 ain:BrandonDryingFabricsIncMember us-gaap:AsbestosIssueMember 2005-12-31 0000819793 us-gaap:AsbestosIssueMember 2005-12-31 0000819793 ain:BrandonDryingFabricsIncMember us-gaap:AsbestosIssueMember 2004-12-31 0000819793 us-gaap:AsbestosIssueMember 2004-12-31 0000819793 ain:BrandonDryingFabricsIncMember us-gaap:AsbestosIssueMember 2003-12-31 Unrealized losses are recognized in Other comprehensive income, net of tax. This derivative was an effective hedge of interest rate cash flow risk for the three months ended March 31, 2012. Unrealized losses are recognized in Other comprehensive income, net of tax. This derivative was an effective hedge of interest rate cash flow risk for the three months ended March 31, 2012. (Losses)/gains are recognized in Other expense, net. (Losses)/gains are recognized in Other expense, net.